Online Reporter
Zimbabweans in the diaspora are responding positively to Government’s calls for them to invest back home taking advantage of the country’s macroeconomic stability.
Many diasporans who for a number of years have been remitting money just to support their families, are now funding investment projects back home thereby contributing to the country’s economic growth.
The strong performance of the local currency, the Zimbabwe Gold (ZiG) and the sharp inflation drop has excited the diasporans who are now among the country’s direct investors.
Zimbabwe has infact reached a milestone in price stability as the ZiG is now in a single digit phase at 4,1percent this month.
The positive developments that have seen many Zimbabweans in the diaspora choosing home as an investment destination of choice, are a confirmation that our ambassadors who are representing us in the different countries across the globe, have taken heed of President Mnangagwa’s call for them to transform Zimbabwe’s diplomatic missions into strategic economic hubs that drive trade, investment, tourism and innovation.
President Mnangagwa has said the country’s embassies must move beyond traditional diplomacy to play a proactive role in advancing national development.
“Missions should function as strategic economic hubs that advance trade, investment, tourism and innovation while defending our sovereignty and projecting a positive image of the country,” said President Mnangagwa.
He noted that there is a steady rise in diaspora remittances and urged embassies to adopt open door policies for Zimbabweans living abroad.
President Mnangagwa said there was therefore a need to develop more concrete models to harness the diasporans’ combined potential as a source of investment capital.
The Second Republic on its part has been working on clearing all the bottlenecks that in the past have been stifling flow of capital from locals based abroad.
Government has said the ease of doing business environment will be continuously improved not just for foreign investors but for diasporans wanting to invest back home as well.
Prominent businesspersons in the diaspora have lauded Zimbabwe’s macroeconomic stability and said many of them now want to invest back home.
The potential investors have singled out agriculture, real estate, tourism, education and health among top opportunity windows that could benefit from skills they have acquired while working in the different countries.
Government has said it is ready to harness the experience and expertise of Zimbabweans working in different countries across the globe in order to leapfrog the country’s modernisation and industrialisation programme.
