The good news from Harare is that the Government is finalising the Diaspora Strategy, this strategy will guide the government on how to engage the Diaspora, how to assess the needs of the Diaspora and ensure a win win situation. The Diaspora benefits by having their needs met, the country benefits by having formal structures to engage the Diaspora.
The Diaspora has been on average remitting close to $1Billion dollars a year. There has been a slight decline and this has been attributed to fluctuations of major currencies such as the Rand. We have written extensively about the Diaspora because the $1Billion that is being remitted is just a fraction of the potential that exists, the community has access to credit, access to markets, access to technology and access to rich networks that can benefit the country.
The $1Billion can easily rise to $2 Billion or more if the Government engages this community and acknowledge the importance and influence that they have in the country. It is also interesting to note that remittances has surpassed Direct Foreign Investment, so the community should be viewed in the same way that we view foreign investors.
We should have Diaspora -friendly policies that helps to attract more remittances in the formal channels. The Diaspora Strategy is still to be finalised and be launched but we firmly believe that the country has taken a great step by acknowledging the importance of this important sector. The National Budget has been an average of $4 Billion, the Diaspora has been providing $1 Billion, these statistics surely point to an important sector which is helping to oil the economy! The Diaspora also wants a conducive environment for investment, security of investment, rights to voting and clarity on Dual Citizenship-these issues can be ironed out through engagement.
The local television reported that a high powered delegation will be in South Africa to engage the Diaspora and this is great news. We encourage our members to attend and meaningfully engage the government officials. Its a great platform to hear of the plans that are in place to help the community by the government. We hope to see fruitful dialogues that result in more remittances and more investment opportunities being unlocked for the betterment of Zimbabwe and the Diasporan Community.
