Story by Stanley James, Business reporter
ZIMBABWE’s engagement with its diaspora community is yielding tangible economic returns, with Zimbabweans living abroad investing more than US$900 million in the real estate sector this year, according to figures released at the Diaspora Homecoming Business Summit held at the weekend.
The investments, spanning residential and industrial property developments, signal growing confidence among the diaspora in the country’s economic outlook and investment climate. Officials say the trend reflects the impact of sustained re-engagement efforts aimed at reassuring Zimbabweans abroad about the safety and viability of investing back home.
Permanent Secretary for Presidential Affairs and Devolution, Engineer Tafadzwa Muguti, described the diaspora as a strategic partner in national development, noting that property investment plays a critical role in strengthening local economies and communities.
” This year there has been a close link between the diaspora and its commitments to invest locally, it is always important for you to invest in communities that have played an important role for you to be where you are today, therefore the Office of the President and Cabinet and the entire cabinet views the diaspora as a strategic partner in our national endeavours not spectators,” he said.
The surge in diaspora-led property investment is expected to support job creation, urban development and industrial growth, while reinforcing broader national development objectives anchored on inclusive economic participation.
