9.9 C
Saturday, June 22, 2024

Diaspora remittances go over US$420 million since January

Story by Stanley James, Business Reporter

The diaspora community is part of the Zimbabwe International Trade Fair (ZITF) in Bulawayo, amid revelations they have remitted over US$400 million since January.                   

While the major highlight of the second day of the fair was the business conference, there were several other engagements at the fair, which included the Diaspora Investment Conference, where it was revealed that there has been a growth of 182 percent in remittances since 2019.

This has seen diaspora remittances being ranked second in terms of the country’s overall annual foreign currency receipts after exports.           

Zimbabweans in the diaspora taking part at this year’s ZITF are eager to invest more into the country’s productive sectors. 

“Commitment to invest in the country’s investment portfolio my presence at the ZITF bears testimony to the commitment in increasing inflows,” said ZimThrive Southern Africa coordinator, Mr Farai Madzivanyika.                

UK-based businesswoman, Mrs Ennie Mhende noted, “Basically, I am interested in investing in this country both within the productive and consumptive units of the country.”       

“This country has lithium which is emerging as a centre of attraction and talk of investing into that sector is at the epicentre of all the diasporans,” added Canada-based miner, Mr Joseph Mugodo.             

A mechanisation platform was also held at the ZITF on Day 2, providing a platform for the showcasing of agriculture equipment aimed at boosting food production efficiency for farmers.

A young innovators forum was also staged, attracting a number of participants, particularly the youth.

The forum also brought to the fore the need for firms to focus on innovative products in line with the country’s National Development Strategy One.  

Related Articles

[td_block_social_counter facebook="tagdiv" twitter="tagdivofficial" youtube="tagdiv" style="style8 td-social-boxed td-social-font-icons" tdc_css="eyJhbGwiOnsibWFyZ2luLWJvdHRvbSI6IjM4IiwiZGlzcGxheSI6IiJ9LCJwb3J0cmFpdCI6eyJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3Njh9" custom_title="Stay Connected" block_template_id="td_block_template_8" f_header_font_family="712" f_header_font_transform="uppercase" f_header_font_weight="500" f_header_font_size="17" border_color="#dd3333"]
- Advertisement -spot_img

Latest Articles