… As Zim records 13 percent increase in diaspora financial remittances
By Beverly Bizeki
Masvingo Minister of State for Provincial Affairs and Devolution Ezra Chadzamira has applauded the diaspora community for their participation in national development with the country recording a 13 percent increase in financial remittances from the diaspora community which he said is crucial for the country’s development agenda.
Speaking during a press briefing held at his Benjamin Burombo offices on April 9, 2024, prior to the second edition of the Diaspora Investment Conference, Chadzamira applauded the diaspora for contributing to the economy of the country.
“As you are aware over the past years, our diaspora community has been contributing immensely to the development of the economy through financial and social remittances. Financial remittances have increased by 13 percent to a total of US$1.8 billion in 2023 from US$1.6 billion in 2022. For this we applaud them, well-done compatriots,” said Chadzamira.
Chadzamira said the Diaspora Investment Conference to be held in Masvingo was the second edition and highlighted the importance of the diaspora community.
“The Diaspora community is an important constituency in the development of the country. The hosting of this conference is a demonstration of the government’s desire to create avenues through which our citizens abroad can actively participate in the current development trajectory by investing in productive sectors of the economy,” said Chadzamira.
Chadzamira said the conference will be segmented into business days and a homecoming event to appreciate the efforts of the diaspora community.
“The first two days of the conference have been dedicated as business days which will provide a platform for information sharing between the Zimbabwean Diaspora community and all stakeholders on the investment climate, opportunities across all sectors of the economy, incentives in Zimbabwe as well as discuss practical ways in which the diaspora can actively participate in the development of their country.
“April 13 has been set aside as a day to launch the homecoming event to acknowledge and celebrate our diaspora for their contribution to national development. We say to the diaspora tinotenda ngazvirambe zvakadaro. Indeed a country can only be built by its people,” said Chadzamira.
The event will be hosted by the Minister of State’s office together with the Ministry of Foreign Affairs and International Trade under the theme, ‘Celebrating Diaspora Participation through a Mutually Beneficial Partnership for National Development and Sustained Economic Growth.
It is expected to build upon the success of the Inaugural Diaspora Investment Conference that was held last year by the Foreign Affairs Ministry and International Trade in Bulawayo on the sidelines of the Zimbabwe International Trade Fair in Zimbabwe (ZITF).
Over the past months, diaspora remittances have grown to be one of Zimbabwe’s large sources of foreign currency inflows after mining.
