Remittances by Zimbabweans abroad through official money transfer agencies and banks declined by 15 percent from US$2.1 billion in 2012 to US$1.8 billion, according to the Reserve Bank of Zimbabwe.
But the central bank pointed out that a considerable amount of diaspora remittances continued to be transmitted through unofficial channels.
Although the central bank did not say so, informal channels dominate transfers from South Africa where the bulk of Zimbabweans who have left the country reside.
Couriers popularly known as malaisha are doing a roaring business of transporting goods, cash and people.
Drivers of cross-border buses also earn a lot of extra income by carrying cash from Zimbabweans in South Africa to their relatives in Zimbabwe.
The central bank said it was looking at ways to tap into the diaspora resources, guided by the 2014 national budget.
(60 VIEWS)
Payments in Zimbabwe’s latest currency, the Zimbabwe Gold, now account for 40% of transactions, up…
Zimbabwe should de-dollarise otherwise its new currency the Zimbabwe Gold will go the way other…
Zimbabwe has come up with a de-dollarisation roadmap which will soon be presented by Finance…
Former Citizens Coalition for Change leader Nelson Chamisa says it is not easy to lead…
The Zimbabwe Gold (ZiG) has brought some stability into the market enabling some smoothness for…
Zimbabwe Finance Minister Mthuli Ncube presented his mid-year budget review on Thursday which, among other…