Development Bank of Zambia
| Development Bank of Zambia Ltd | |
|---|---|
| legal form | GmbH, semi-public company |
| founding | 2001 |
| Seat | Lusaka |
| sales | U.S-$ |
| Branch | Financial industry |
| Website | [1] |
Development Bank of Zambia , also DBZ , is a bank in Zambia . It is based in the Development House on Katondo Road in Lusaka .
The DBZ was founded by the state in 1972 as a Development Finance Institution (DFI). They should coordinate private, public, foreign and multilateral institutional investments. The capital was held by A participants to 90 percent and B participants to 10 percent. There is no more detailed breakdown.
The aim of the DFI was to finance larger medium and long-term investments for medium and large companies in agriculture and forestry, processing of agricultural, fish, forest products and mineral resources, infrastructure, quarries, textile industry, paper production and industry. Between 1972 and the early 1990s, DFI was the most important financial institution in these areas, the financial center of development in Zambia, so to speak.
In 2001 the DFI was subjected to a revision, financially, organizationally and operationally. With the Development Bank of Zambia Amendment Act No. 11 of 2001 , the DBZ was launched, which is subordinate to the Minister of Finance. Your shares are state and privately owned. Who this is exactly is not published.
Like the Lima Bank, the DBZ is an instrument of development policy in Zambia. Your business area is the financing of larger projects. Their credit volume swelled from Kwacha 14.4 billion in 2005 to Kwacha 35.6 billion in 2006. The lower credit limit is US $ 20,000 or 50,000 with special requirements. The interest is discount rate plus 5 to 10 percent (comparable to Euribor plus interest)