Remittances from diaspora to Africa grew from $37 billion in 2010 to $96 billion in 2021, Akinwumi Adesina president of the African Development Bank said.
He said because of the flow of remittances to Africa, its high rising stable offers huge opportunities to serve as collateral to secure financing for African economies.
“African countries should securitize remittances to promote investments, esp. for infrastructure,” he noted.
Meanwhile, the Total Official Development Assistance to Africa in 2021 was $35 billion or 36% of remittances from diaspora.
Apparently, Zimbabweans in the diaspora have for long kept the country’s economy afloat by sending the much needed foreign currency home.
However, the government has been viewing its citizens in the diaspora as bad apples who fled the country to tarnish Zimbabwe’s image.
A number of Zimbabweans left the country in search of green pastures, a move that annoyed the government.
Zimbabweans in the diaspora have for long been demanding the opportunity to be allowed to vote, but the government views them as enemies, hence would not allow them to do so.