Story by ZBC News Reporter
THE Government has saluted the vital role of the diaspora community in Zimbabwe’s growth through remittances, which rose by 13% to $1.8 billion last year up from $1.6 billion in 2022.
Speaking at the recently concluded UK-Zimbabwe Business Expo, organised by the Zimbabweans in Diaspora Organisation (ZIDO) and Vaka Ekhaya at the Bethel Convention Centre in Birmingham, United Kingdom, Deputy Chief Secretary in the Office of the President and Cabinet, Mr. Willard Manungo reiterated President Emmerson Mnangagwa’s call for the diaspora to go beyond remittances and invest in productive sectors and capital markets, thereby securing sustainable incomes for their families back home.
“The mantra ‘Nyika Inovakwa neVene Vayo’, or ‘ilizwe Lakhiwa Ngabanikazi Balo,’ reflects President Mnangagwa’s belief that a nation is built by its people. He consistently engages with the diaspora whenever he travels abroad,” Mr. Manungo explained.
Mr Manungo also highlighted that Zimbabwe is a safe investment destination, encouraging both foreign and diaspora entrepreneurs to view it as a preferred investment choice.
“The government is committed to establishing a mutually beneficial and enabling policy and legal framework that empowers the diaspora to actively contribute to the nation’s economic development,” Mr. Manungo stated in his keynote address.
He also outlined various sectors ripe for investment by the diaspora, including real estate, agriculture, manufacturing, and tourism.
“The Zimbabwean real estate market is experiencing recovery and growth, with increasing demand for both residential and commercial properties. Diaspora investors can explore opportunities in real estate investment trusts (REITs) and development projects,” he noted.
ZIDO chief executive officer, Blessed Kapesa expressed excitement over the success of the oversubscribed expo, which will now become an annual event.
“We extend our deepest gratitude to all Zimbabweans in the UK who participated in our investment conference in Birmingham. For the first time in history, we were honoured to host five distinguished ministers who presented unparalleled investment opportunities,” Kapesa said, thanking the government for its incredible support.
Notable attendees included Mr Busisa Moyo, Chairman of the Zimbabwe Investment and Development Agency, Cde Marian Chombo, Minister of State for Mashonaland West Provincial Affairs and Devolution, Honourable Misheck Mugadza, Minister of State for Manicaland Provincial Affairs and Devolution, Cde Richard Moyo, Minister of State for Matabeleland North Provincial Affairs and Devolution, Honourable Ezra Chadzamira, Minister of State for Masvingo Provincial Affairs and Devolution and Ambassador Christian Katsande, Zimbabwe’s Ambassador to the United Kingdom.
