By Yolanda Moyo
CHANNELLING diaspora remittances into productive sectors of the economy has taken centre stage at the ongoing Zimbabwe Economic Development Conference (ZEDCON) in Bulawayo, as policymakers and experts push for strategies to align inflows with the country’s growth agenda.
According to the Reserve Bank of Zimbabwe (RBZ), diaspora remittances reached US$1.09 billion between January and June 2025, up 8.4% from last year’s US$1.01 billion. The receipts accounted for 15.1% of total foreign currency inflows, highlighting their critical role in sustaining household consumption and strengthening foreign currency liquidity.
Economist Mr Rogers Dhliwayo said the focus should now shift from consumption to investment.
“If we create safe, high-yield investment products, diaspora communities can participate in national development beyond just family support. This can be achieved through diaspora bonds, investment funds, and favourable policy frameworks that guarantee returns and security of investments,” he said.
Economic analyst Mr Stevenson Dhlamini added that lowering transfer costs would further boost inflows.
“Cheaper, faster, and more secure transfer options will motivate more people in the diaspora to send funds legally and regularly. If harnessed properly, the growing diaspora inflows could become a key driver of domestic capital formation,” he noted.
Parliamentary Portfolio Committee on Budget, Finance and Investment Promotion Chairperson Honourable Energy Mutodi said legislators are working on laws to reduce leakages while promoting formal channels.
“We are looking at laws that will curb illicit movement of remittances while crafting incentives that make formal remittance channels more attractive,” he said.
Government has reiterated its commitment to engaging Zimbabweans abroad as part of its economic diplomacy agenda, with initiatives aimed at ensuring the diaspora plays a central role in achieving Vision 2030.
