Under Pressure….Mangudya
The Zimbabwe Diaspora does not like Robert Mugabe but has ironically become his main sponsors propping up his crumbling regime from total collapse.
Diasporans send money home to support relatives who are suffering under the despotic Mugabe’s regime which is struggling to pay civil servants and meet a whole lot of other national needs, such as proper health care and quality education. They have become the unwilling sponsors of a regime that sadly forced them out of the country in the first place.
Without the Diapora remittances Zimbabwe would be history.
DIASPORA remittances are now the second largest source of liquidity in the country after exports, reaching US$830 million in the first half of 2016.
In June, diaspora remittances were pegged at US$157 million and estimates are that they will reach US$1,5 billion by year-end. Given the significance of the diaspora remittances, government is now exploring the option of issuing diaspora bonds to entice the diaspora community to inject more money into the economy.
“From January to June we have received US$830 million diaspora remittances and this includes those coming through non-governmental organisations, which have contributed about US$440 million,” Reserve Bank of Zimbabwe (RBZ) deputy governor Kupukile Mlambo told the Zimbabwe Independent in an interview last week.
Official diaspora remittances have been growing from US$300 million in 2009 to more than US$800 million in 2014. In 2015 remittances from the diaspora were US$935 million, which is more than what the country gets through foreign direct investment (FDI).
FDI inflows tumbled from US$545 million in 2014 to US$421 million last year, which represents a 23% drop, as the country struggles to attract meaningful investment due to policy inconsistency surrounding the indigenisation policy and high levels of corruption among other bottle necks.
According to the Economic Development in Africa Report 2016, launched by Macro-Economic Planning and Investment Promotion permanent secretary Desire Sibanda in the capital last Friday, the government will engage Zimbabweans living abroad to raise funds.
“The RBZ governor John Mangudya is set to meet with the diaspora community in the United Kingdom to explain and convince Zimbabweans in that country to invest in their country through diaspora bonds,” Sibanda said.
“Diaspora bonds are very important for our economy and we are very happy that the national diaspora policy pushed by our ministry was recently approved by cabinet so that we can engage our diaspora community.”
He said Mangudya’s trip will clarify further to the diaspora community that when they invest their money in foreign currency they will be paid back in foreign currency and not in bond notes.
“Engaging the diaspora community is meant to create confidence in Zimbabwe and assure those Zimbabweans out of the country that diaspora bonds will also work in their favour,” Sibanda said.
He said an estimated two million Zimbabweans are living abroad, with the majority in South Africa and the United Kingdom.
Sibanda said a large share of diaspora savings are held in bank deposits.
“Deposits held in host-country banks currently receive near-zero interest rates therefore migrant workers may find it attractive to invest their savings in other outlets or vehicles such as diaspora bonds,” he said. Independent
They “will be paid back in foreign currency” inonga yazobvepi?
Best not to entertain him.
They “will be paid back in foreign currency” inonga yazobvepi?
Best not to entertain him.
stress will kill u tribalist i think u are new to social media mune dzungu tsano
stress will kill u tribalist i think u are new to social media mune dzungu tsano
@ shona haters wena u lizanka uyakwazi ,why wasting your time surely writing yr rubbish?u like them or u hate them who cares .dingy umsebenzi ungazosilengisela amasende anukayo nxa.i blame your parents really they should have aborted u nja.
@ shona haters wena u lizanka uyakwazi ,why wasting your time surely writing yr rubbish?u like them or u hate them who cares .dingy umsebenzi ungazosilengisela amasende anukayo nxa.i blame your parents really they should have aborted u nja.
what exactly are diaspora bonds. What is the difference from the zimbabwe bond. I wish magundya luck. I hope he is not treated like our comrade chinamasa. Diasporans watch out for this moron coming your way and show him where the sun does not shine.Diasporans should remember how they were conned into buying stands for example teh Charlottes brooke stand sales which benefitted people like Chirekeni and his friends. Most diasporans did not get the 2 stands they bought. Those who were lucky were given 2 very small stands and others lost at least £7000 they had paid for the stands. so diasporans may not really listen and support. Diasporans also remember you have not benefited from the land redistribution. The majority of diasporans were not given any land and the feeling seems to be that they do not deserve the land. Zimbos forget that diasporans are out there working so hard to support parents/relatives in Zimbabwe.
what exactly are diaspora bonds. What is the difference from the zimbabwe bond. I wish magundya luck. I hope he is not treated like our comrade chinamasa. Diasporans watch out for this moron coming your way and show him where the sun does not shine.Diasporans should remember how they were conned into buying stands for example teh Charlottes brooke stand sales which benefitted people like Chirekeni and his friends. Most diasporans did not get the 2 stands they bought. Those who were lucky were given 2 very small stands and others lost at least £7000 they had paid for the stands. so diasporans may not really listen and support. Diasporans also remember you have not benefited from the land redistribution. The majority of diasporans were not given any land and the feeling seems to be that they do not deserve the land. Zimbos forget that diasporans are out there working so hard to support parents/relatives in Zimbabwe.
you are a sick triblist racist idiot
The majority in the diaspora are of course Shonas Gukurahundis. So you must always expect total and permanent confusion from anything Shona.
Voetsek Gukurahundi language
Voetsek Gukurahundi language
Shona Gukurahundi
Dog!
Dog!
Voetsek!
Voetsek!
Ndozvinoita munhu anenge aine pfungwa pfupi; kuswera uchitenderera panzvimbo imwe chete!
Ndozvinoita pfungwa pfupi; kuswera uchitenderera panzvimbo imwe chete!
They “will be paid back in foreign currency” inonga yazobvepi?
Best not to entertain him.
They “will be paid back in foreign currency” inonga yazobvepi?
Best not to entertain him.
stress will kill u tribalist i think u are new to social media mune dzungu tsano
stress will kill u tribalist i think u are new to social media mune dzungu tsano
@ shona haters wena u lizanka uyakwazi ,why wasting your time surely writing yr rubbish?u like them or u hate them who cares .dingy umsebenzi ungazosilengisela amasende anukayo nxa.i blame your parents really they should have aborted u nja.
@ shona haters wena u lizanka uyakwazi ,why wasting your time surely writing yr rubbish?u like them or u hate them who cares .dingy umsebenzi ungazosilengisela amasende anukayo nxa.i blame your parents really they should have aborted u nja.
what exactly are diaspora bonds. What is the difference from the zimbabwe bond. I wish magundya luck. I hope he is not treated like our comrade chinamasa. Diasporans watch out for this moron coming your way and show him where the sun does not shine.Diasporans should remember how they were conned into buying stands for example teh Charlottes brooke stand sales which benefitted people like Chirekeni and his friends. Most diasporans did not get the 2 stands they bought. Those who were lucky were given 2 very small stands and others lost at least £7000 they had paid for the stands. so diasporans may not really listen and support. Diasporans also remember you have not benefited from the land redistribution. The majority of diasporans were not given any land and the feeling seems to be that they do not deserve the land. Zimbos forget that diasporans are out there working so hard to support parents/relatives in Zimbabwe.
what exactly are diaspora bonds. What is the difference from the zimbabwe bond. I wish magundya luck. I hope he is not treated like our comrade chinamasa. Diasporans watch out for this moron coming your way and show him where the sun does not shine.Diasporans should remember how they were conned into buying stands for example teh Charlottes brooke stand sales which benefitted people like Chirekeni and his friends. Most diasporans did not get the 2 stands they bought. Those who were lucky were given 2 very small stands and others lost at least £7000 they had paid for the stands. so diasporans may not really listen and support. Diasporans also remember you have not benefited from the land redistribution. The majority of diasporans were not given any land and the feeling seems to be that they do not deserve the land. Zimbos forget that diasporans are out there working so hard to support parents/relatives in Zimbabwe.
you are a sick triblist racist idiot
The majority in the diaspora are of course Shonas Gukurahundis. So you must always expect total and permanent confusion from anything Shona.