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The Industrial Development Corporation of Zimbabwe Limited

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The Industrial Development Corporation of Zimbabwe

 

Corporate Profile

The Industrial Development Corporation of Zimbabwe Limited was incorporated through its enabling Act (Chapter 14.10) in 1963 to invest in industry as a state agency. The Industrial Development Corporation of Zimbabwe Limited Act was amended in 1984 to allow the Corporation to promote investment and economic co-operation across borders.

The Corporation identifies and develops industrial project opportunities into commercially viable ventures in partnership with local, regional and international investors, and technology and market access partners.

Having been in business for the last 43 years, the Corporation has built an investment portfolio supplying quality products at competitive prices, with the core being in the sectors of motor and transport, fertilizer and chemicals, cement, aluminum and granite and base mineral processing, and glass products.

It also has investments in textiles, clothing, beans canning, packaging and electronics. It has embarked on a greenfield project to build an industrial park in Harare and to set up agro-processing plants in various parts of the country.

Objectives

The main objectives of the Corporation are:

“ with the approval of the Minister to establish and conduct industrial undertakings: to facilitate, promote, guide and assist in the financing of new industries and industrial undertakings, expansion schemes, better organization and modernization of existing industries, to undertake the development of management and technical expertise in the carrying out of the operations in industry and industrial undertakings, including the development of expertise in project analysis, evaluation of investment opportunities and provision of consultancy services; and to take such measures as may be necessary or expedient to enable the Corporation to exercise control over enterprises in which it has made an investment.”

Legal Requirement

It is a legal requirement that:

  1. Industrial development within Zimbabwe may be planned, expedited and conducted on sound business lines
  2. Every application or proposal dealt with by it, is considered strictly on its economic merits, irrespective of all other considerations whatsoever; and that
  3. So far as may be practicable, the Corporation shall not be required to provide an unduly large proportion of the capital which is necessary for such establishment or development.

Corporate Vision

Dynamic and responsive driver for sustainable industrial development in Zimbabwe.

Corporate Mission

To promote the establishment of new industries and industrial undertakings and the development of existing industries and industrial undertakings. 

Corporate Values

  • Gender sensitivity
  • Transparency
  • Innovation
  • Fair play
  • Empowerment
  • Professionalism and integrity
  • Environment protection

Subsidiary Companies

  • Almin Metal Industries Limited
  • Allied Insurance (Private) Limited
  • Chemplex Corporation Limited
  • Kalahari Clothing (Private) Limited
  • G&W Industrial Minerals (Private) Limited
  • Ginhole Investments (Pvt) Limited t/a Last Hope Estate
  • Invesys Investments (Pvt) Limited t/a IDC Agrotech Industrial Holdings
  • Motec Holdings (Private) Limited
  • National Furniture Industries (Private) Limited
  • Sunway City (Private) Limited
  • Olivine Holdings (Private) Limited
  • Zimbabwe Glass Industries Limited

Associated and Other Companies

  • Communication Systems of Zimbabwe (Private) Limited
  • Modzone Enterprises (Private) Limited
  • Sino-Zimbabwe Cement Company (Private) Limited
  • Stone Holdings (Private) Limited
  • Zimbabwe Grain Bag (Private) Limited
  • Surface Investments (Private) Limited

Shareholding

The IDC of Zimbabwe Limited is 100 percent owned by the Government of Zimbabwe

Registered Office

93 Park Lane
P.O. Box CY 1431
Causeway
Harare
Zimbabwe


Tel: 263-4- 706 97/5 or 250405
Telefax: 263-4-250385
Email: administrator [at] idc.co.zw or pr [at] idc.co.zw
URL: www.idc.co.zw