From January to May 2025, Zimbabwe received over $880 million in diaspora remittances, an 8 percent increase over the same period in 2024.
The growing role of Zimbabweans in the diaspora is evidenced by the fact that these inflows are boosting household income and new investments in the country. According to the central bank, remittances today account for 16.1 percent of the country’s foreign-currency earnings. Although much of the money has traditionally gone to family expenses, analysts report that more is now being used for property development and small business ventures. This shift shows a changing role for diaspora contributions beyond consumption.
Financial service operators note that increased inflows are affecting national economic planning. Remittances are becoming a significant line item in the national budget, and there is a need to formalise them since they underpin the economy, according to Kevin Nyakotyo, head of sales and operations at Mukuru Zimbabwe, who spoke to the state broadcaster.
Recent numbers show that millions of Zimbabweans in South Africa, the United Kingdom, the United States, and other countries continue to send money home, supporting their families and bringing capital to local markets. Tinotenda Kambasha, chief executive of the National Venture Capital Company of Zimbabwe, says diaspora funds are now being channeled into housing construction and both large and small business expansion. This is further evidence of growing confidence in the country’s long-term prospects.
Policy analysts note that this trend shows the shifting role of the diaspora as a development partner, contributing not only to consumption but also to economic transformation.
Remittances are becoming important in advancing Zimbabwe’s Vision 2030 through foreign currency inflows, stabilising informal markets, and improving access to capital. Experts say remittance channels should be formalised to optimise their impact. With a stronger regulatory framework and greater transparency, they believe Zimbabwe can fully benefit from diaspora contributions, further grow the investment-driven economy, and be better prepared for external shocks.
