Zimbabwe intensifies diaspora investment push

Zimbabwe is stepping up efforts to improve the ease of doing business and unlock greater investment from its diaspora, as authorities seek to channel billions of dollars into key productive sectors.

The renewed push follows engagements and policy reviews aimed at reducing bureaucratic barriers and creating a more investor-friendly environment for Zimbabweans living abroad.

Speaking at the 4th Zimbabwe Annual Diaspora Conference held in Gweru, Minister of Foreign Affairs and International Trade Professor Amon Murwira - represented by Deputy Minister Sheila Chikomo - said the diaspora remains central to the country's economic transformation agenda.

"Zimbabwe is intensifying efforts to improve ease of doing business, reducing bottlenecks for the diaspora to be able to invest back home. This is being done through constant engagements and policy review," he said.

Zimbabwe receives over US$1.8 billion annually in diaspora remittances, making it one of the country's largest sources of foreign currency. The figure has grown significantly in recent years, rising from about US$1 billion in 2020 to US$2.45 billion in 2025.

Authorities say structured diaspora investment - beyond remittances - could unlock substantial capital flows into sectors such as mining, agriculture, housing and manufacturing, in line with targets set under the National Development Strategy 1 and 2.

Government has also elevated the diaspora's status, with President Emmerson Mnangagwa designating it as the country's "11th Province," underscoring its role as a key development partner.

Officials highlighted that Zimbabwe's vast mineral resources, coupled with policies promoting value addition and beneficiation, present opportunities for diaspora investors to participate in industrial growth and export expansion.

The Government is also focusing on strengthening financial instruments, investment platforms and policy frameworks to ensure diaspora funds are channelled into productive sectors rather than consumption.

According to the Reserve Bank of Zimbabwe, remittances contribute between seven and 10 percent of the country's GDP, although more than 70 percent is currently directed towards household support, education and healthcare.

International Organisation for Migration (IOM) Zimbabwe chief of mission Diana Cartier said structured engagement with the diaspora could have transformative economic impacts.

"Diaspora can power progress when supported by coherent, enabling and forward-looking policy frameworks," she said.

However, diaspora participants at the conference raised concerns over persistent bureaucratic hurdles, corruption and inefficiencies within some government departments, which they said discourage investment.

Zimbabwe is estimated to have around three million citizens living and working abroad, many of whom possess critical skills, capital and international networks that could accelerate industrialisation and economic growth.

Authorities say ongoing reforms are designed to harness this potential, positioning diaspora investors as key drivers of innovation, job creation and sustainable development as the country works towards achieving upper-middle-income status by 2030.