adminarms have expressed interest in taking the Diaspora on board but much of it has remained as just talk and yet the potential resident within that segment of the population is phenomenal going by what has been achieved by other economies such as Ghana, Kenya, Bangladesh and many others that have put in place practical programmes to ensure they capitalise on the presence of their nationals in sophisticated economies.
Gauging by the interest often demonstrated by Zimbabweans in South Africa, United Kingdom, USA and other countries, many Zimbabweans out there have acquired skills and wealth which they would want to share or impart to their mother country.
I have often received emails and calls from some in the Diaspora inquiring on opportunities in the capital markets, property and other sectors of the economy in which they could invest.
Of late though, the enquiries have slowed down, maybe as a reflection of the effects of the global financial crisis or their energy has been drained by a seeming lack of serious action on the Government’s part.
Of course, it can all not be left to the Government alone, but there are banks and other institutions that could come up with investment programmes and skills and technology transfer programmes to entice the Diaspora.
Statistics show that Africa receives at least US$40 billion annually from its Diaspora but Zimbabwe only manages to attract a few millions.
There is no doubt non-resident Zimbabweans have the capacity to impact the economy in a significant way.
In the 2007/2008 era when this country was besieged with hyperinflation, families locally were sustained by friends and relatives in the Diaspora. This had a huge impact on the economy both at micro and macro levels.
They would send money and groceries which sustained families, thus ameliorating the effects of the economic meltdown the country experienced then.
In this multiple-currency era, the economy needs to find space for the Diaspora and come up with investment options that can help entice the Diaspora funds.
Granted, the economy does not have much to offer presently on the money market while the bears camped on the stock market have scared away investment.
There are, however, opportunities in every sector of the economy which the Diasporans can seize.
In fact, they would be spoilt for choice as regards where they can put their money.
The constituency needs to be conscientised of the available opportunities through deliberate awareness campaigns on the many forums available for such engagements.
I remember one such roadshow was launched a few years ago by the central bank.
It seemed to have brought the Diasporans into the fold but the interest seems to have fizzled out somehow.
More can be done in this regard.
A case in point is the Diaspora Bond launched by CBZ in 2010 which raised US$70 million. This alone bears testimony to the potential in that constituency which could come in handy at a a time Zimbabwe is facing liquidity challenges.
Many out there have expressed the desire to contribute to economic revival but they need programmes and projects to entice them.
On their part, the Diasporans have come together in some groupings to help prop the economy but these have largely been at a small scale or have fizzled out due to a myriad of reasons.
Another area in which Zimbabwe could benefit from skills out there is through part-time lectureship of professorial chairs at universities and other colleges where they could be engaged periodically to help impart their knowledge and skills.
Zimbabwe suffered immense brain drain in the pre-2009 era but this can easily be turned into a gain once some policies, projects and programmes are put in place.
A conference convened by some non-resident Zimbabweans in 2010 was a great start for those that were sincere in turning around the economy but the momentum raised then seems to have died down.
It is never too late though to get them back on stream.
The US$100 billion economy by 2040 initiative is one such that could benefit from engaging the Diaspora while Government would not have that many headaches in terms of infrastructure development and general liquidity were it to put in place viable options to involve the diaspora in the economy.
The advantages are numerous but what is now required is the energy and wisdom to craft the right avenues through which we can entice non-resident Zimbabweans which are believed to be more than three million.
In God I trust.
Titbits.
l It takes only one person to open his eyes, his ears, his mind and his heart and the objects of this world will fall into place and work together as a single whole, synchronised as they were meant to be. – Freeman
l Nothing limits achievement like small thinking, nothing expands possibilities like unleashed imagination. -William Arthur Ward.
l There is no such thing as failure. There are only results. – Anthony Robbins.
l [email protected] or [email protected]
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Online Reporter