Zimbabweans in diaspora sending more money home


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Zimbabweans in the diaspora are sending more money home through the official channels according to figures released by the Reserve Bank of Zimbabwe recently. Remittances from Zimbabweans in the diaspora dropped from US$2.1 billion in 2012 to US$1.8 billion last year but remittances from individuals increased from US$655 million in 2012 to US$764 million last year. “There was actually an increase in individual remittances from 2012 to 2013. In 2012, individual remittances were US$655 million and last year the figure was US$764 million, which shows that Zimbabweans in the Diaspora have confidence in the economic prospects of our country,” a Reserve Bank official said. Nearly half of the money that is sent to Zimbabwe is sent through the informal channels, that is, through cross-border transport popularly known as malaishas and through bus drivers. The government is trying to capitalise on the remittances from the people in the diaspora to revive the economy and it is slowly winning the battle. More people outside the country are getting disgruntled with politics and are focusing on the economy and how then can invest.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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