Andrew
Online Reporter
DIASPORA remittances into Zimbabwe for the six months to June 2022 grew to US$797 million, representing a 23 percent increase from US$651 million recorded over the same period last year, latest Reserve Bank of Zimbabwe (RBZ) statistics show.
Remittances have been incrementally growing for the past three years.
“Total foreign currency receipts increased by 33,6 percent in the first half of 2022, while Diaspora remittances rose by 23 percent,” said Dr Nebson Mupunga, deputy director for Economic Policy and Research Division at the RBZ.
Diaspora remittances to Zimbabwe surged from US$1 billion in 2020 to US$1,4 billion last year.
Finance and Economic Development Minister Professor Mthuli Ncube recently said remittances had overtaken foreign aid.
Online Reporter