Zimbabwe Sees 7.5% Increase in Diaspora Remittances, Favoring Economic Growth
Zimbabwe’s diaspora remittances rose by 7.5% to $165 million in February 2025, contributing 17% of total foreign currency receipts. Inflows have consistently increased, helping stabilize the economy and support domestic needs. Experts recommend policies to enhance formal remittance channels.
In February 2025, Zimbabwe experienced a significant 7.5% growth in diaspora remittances, amounting to $165 million compared to $153.8 million in the same period of the previous year, as reported by the Reserve Bank of Zimbabwe (RBZ). This increase indicates that remittances have become a vital component of the nation’s economy, now constituting 17% of the total foreign currency receipts.
The rise in diaspora remittances is critical for Zimbabwe’s economic stability, providing essential financial support for families and contributing to foreign currency reserves. Continued government support for formal remittance channels will enhance these benefits, ensuring sustained economic growth despite ongoing challenges.
Original Source: www.thezimbabwemail.com
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