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MEMBERS: DEVELOPMENT BANK OF ZAMBIA

The Development Bank of Zambia (DBZ) is a Development Finance Institution (DFI) established in the early 1970s by an Act of Parliament, as a joint venture between the Government of the Republic of Zambia (GRZ), Public Sector Financial Institutions, on one hand, local private sector and foreign bilateral and multilateral institutions, on the other. At inception GRZ and Public Sector financial Institutions constituted the class ‘A’ shareholders and held 90% of the shares while the balance of 10% was held by the class 'B’ shareholders.

The Bank has played a pivotal role in promoting Zambia’s economic development. In its mandate to provide medium and long term development finance, the Bank invested extensively in Agriculture, Agro and Mineral Processing, Forestry, Quarrying, Textile Pulp and Paper, Fisheries and Manufacturing sectors. Between the 1970s and early 1990s, the Bank held its place as the most significant financing institution providing medium and long term finance for fixed assets to medium and large scale enterprises in Zambia. As the major catalyst in the establishment of industries, the Bank has been the cradle of Zambia’s industrial and commercial development.

The Bank has recently undergone financial, organisational and operational restructuring under the auspices of the Development Bank of Zambia Amendment Act No. 11 of 2001. The basis of the Development Bank of Zambia Restructuring is the Development Bank of Zambia (Amendment) Act which was passed by Parliament in November 2002 when Honorable Minister of Finance and National Planning signed the appropriate Statutory Instrument (SI)

For more information please visit: www.dbz.co.zm


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