Mnangagwa to lead business delegation to South Africa

A high powered Zimbabwean business delegation will travel to South Africa next week for  crucial meetings with Zimbabwean investors based in that country as the government  continues to engage the diaspora community.

The meetings will provide a critical platform to deliberate on key issues that will improve the participation of Zimbabwe's diaspora community in various investment opportunities in the country.

According to the Minister of Macro Economic Planning and Investment Promotion Dr Obert Mpofu, Vice President Emmerson Mnangagwa is expected to lead the delegation.

"We need to instill confidence in Zimbabweans in the diaspora by demonstrating our commitment in supporting their participation on the country's economic development," he said.

"Zimbabweans in South Africa remain a critical community that has the potential to contribute to the overall performance of annual diaspora remittance figures," added Dr Mpofu.

The government will also be targeting to recoup on losses recorded in diaspora remittances in the first quarter of this year, with statistics from the National Treasury Bulletin showing a US$13 million dip to US$180 million, compared to the same period last year.

Despite starting on a back foot this year, diaspora remittances are projected  to reach US$1,2 billion by end of this year.