News / National
BCC developing a new diaspora policy
09 Sep 2024 at 08:15hrs | Views
The Bulawayo City Council (BCC) is developing a new diaspora policy to engage Zimbabweans living abroad, aiming to harness their financial resources for local development and address challenges in fund mobilization. This initiative complements the Government's efforts to establish a national diaspora policy, recognizing the vital role of diasporans in the country's growth.
Diaspora remittances are a major source of foreign currency for Zimbabwe, contributing $1.8 billion last year. Many Zimbabweans abroad have invested in properties back home, prompting the BCC to further explore their potential.
During the city's master plan presentation last Thursday, Bulawayo town clerk Christopher Dube outlined that the policy would formalize interactions with the diaspora community.
"We have over 3 million Zimbabweans in South Africa, and more than half a million in the UK and other Western cities. Many are looking to invest in Bulawayo," said Dube.
Past attempts by diasporans to pool funds for local investments often resulted in disputes. To address this, the council plans to take a more active role in managing contributions.
"We initially suggested forming cooperatives, but disputes over money occurred. Now, we plan to develop a diaspora policy to ensure proper management and involvement," Dube explained.
The council has delayed the policy's introduction to align with the national Diaspora Policy being developed by the Government.
"We need the national framework to adapt our local policy. Our diaspora is crucial to us, and with the right policies, we can attract their investment," Dube added.
Additionally, Dube encouraged the business community to focus on the housing sector, noting a backlog of over 140,000 housing units in the city. The council has turned to private contractors to service stands due to financial constraints, allowing the private sector to recoup investments through stand sales. "I challenge the business community to address our housing shortfall. Our rates are more affordable compared to other municipalities," he said.
BCC has also introduced an affirmative action policy to support local companies in tender processes. Dube urged local contractors to enhance their bidding skills, assuring them that the council is committed to prioritizing local businesses.
"We must support local investment alongside foreign contributions. We are working to educate local contractors and improve their bidding success. If a local company loses a tender by a narrow margin, we can boost them to the top," he stated.
This policy aims to ensure local businesses are competitive and effectively contribute to Bulawayo's development.
Diaspora remittances are a major source of foreign currency for Zimbabwe, contributing $1.8 billion last year. Many Zimbabweans abroad have invested in properties back home, prompting the BCC to further explore their potential.
During the city's master plan presentation last Thursday, Bulawayo town clerk Christopher Dube outlined that the policy would formalize interactions with the diaspora community.
"We have over 3 million Zimbabweans in South Africa, and more than half a million in the UK and other Western cities. Many are looking to invest in Bulawayo," said Dube.
Past attempts by diasporans to pool funds for local investments often resulted in disputes. To address this, the council plans to take a more active role in managing contributions.
"We initially suggested forming cooperatives, but disputes over money occurred. Now, we plan to develop a diaspora policy to ensure proper management and involvement," Dube explained.
The council has delayed the policy's introduction to align with the national Diaspora Policy being developed by the Government.
"We need the national framework to adapt our local policy. Our diaspora is crucial to us, and with the right policies, we can attract their investment," Dube added.
Additionally, Dube encouraged the business community to focus on the housing sector, noting a backlog of over 140,000 housing units in the city. The council has turned to private contractors to service stands due to financial constraints, allowing the private sector to recoup investments through stand sales. "I challenge the business community to address our housing shortfall. Our rates are more affordable compared to other municipalities," he said.
BCC has also introduced an affirmative action policy to support local companies in tender processes. Dube urged local contractors to enhance their bidding skills, assuring them that the council is committed to prioritizing local businesses.
"We must support local investment alongside foreign contributions. We are working to educate local contractors and improve their bidding success. If a local company loses a tender by a narrow margin, we can boost them to the top," he stated.
This policy aims to ensure local businesses are competitive and effectively contribute to Bulawayo's development.
Source - The Chronicle
