We are a Diaspora friendly forum and have more than 20 articles on our website on diaspora strategies. We have been making a lot of noise since last year imploring Zim entities to seriously consider the diaspora as a rich market place of ideas, products and services. This is a crucial sector which at its peak was remitting close to a Billion Dollars a year. This implies that the Diaspora funds a quarter of the national budget! A lot of people in the diaspora still want to invest back home-there is a strong connection between them and the motherland. The diaspora holds the cash! In an economy where we are experiencing hard cash challenges, the diaspora holds the key in helping the nation in solving the hard cashflow challenges. Most in the diaspora have no worries about accessing cash and credit facilities, some are even willing to take out loans and invest back home. The current inflow of $1billion is an understatement-i t can even be doubledor trebled if attractive packages are offered to this important sector of the nation.
Diaspora Investment Zones
Dr Gono is leading the establishment of the Special Economic Zones which will be crucial in attracting investment in the country and this is good but how about including the diaspora too in this arrangement? Is it not easier to work with our own so that they can invest and assist the nation in creating economic opportunities?
Local Companies and the Diaspora
Most companies are still to grasp the importance of the diaspora. They are internally focused and concentrating on local customers or clients-what they are forgetting is that for every dollar that is in the economy, a sizeable percentage of it is coming from the hard working sons and daughters of the soil. Some of the decision to purchase goods and services by locals are being influenced by the diaspora. Given the uncertainties in the economy, local companies are being advised to have a review of their corporate and marketing strategies and find way to engage a critical sector of the economy. The big question is what are you doing to tap into the diaspora market?
What is up this week
Entrepreneurs, are you prepared for the festive season? This will be a big discussion on our Facebook and Whatsapp Platforms. In the meantime, we would like to congratulate a ZBIN volunteer who qualified as a Chartered Management Accountant, she is in diaspora but will be helping local businesses with business information whenever she is free from her busy schedule. Our pool of technocrats is expanding every day and this is good news for the forum!
So we wish you a productive and blessed week and thank you for being a member of Southern Africa’s prime business forum.
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