Diaspora Investment Conference set to commence in Masvingo

By Nomagugu Konke

The Ministry of Foreign Affairs and International Trade will host the Second Diaspora Investment Conference and Homecoming event at the  Great Zimbabwe Hotel in Masvingo from the 11 to 13 this month.

The conference will run under the theme “Celebrating Diaspora Participation through a mutually beneficial Partnership for National Development and Sustained Economic Growth.”

According to the Ministry’s spokesperson, Mr. Mukura, the conference provides an interactive platform for the other stakeholders to deliberate on investment opportunities available for uptake by the diaspora and how they can contribute towards the attainment of Vision 2030.

“Participants to the conference include representatives of Zimbabwean Diaspora Associations, Members of the Diaspora Community, Government Ministries, Provincial leadership, Departments and Agencies mandated with engaging the diaspora in national development initiatives as well as the Private Sector,” he said.

Diaspora investment is an investment made by individuals who have emigrated from their country of origin and are now living in another country. These individuals often make financial contributions to their home country in the form of remittances, direct investment, or philanthropy.

Many Zimbabweans who have immigrated to other countries have been sending money back home to support their families and invest in local businesses. This has helped to boost the economy and create jobs in Zimbabwe.

According to estimates, around 4 million Zimbabweans are living outside the country, with significant populations in the UK, South Africa, and Australia.

These individuals are often highly educated and skilled, and many have established successful careers abroad. This has given them the means to contribute financially to Zimbabwe’s development.

One of the most well-known diaspora investments in Zimbabwe is the Kariba Dam project.

This was a joint venture between the government of Zimbabwe and the diaspora community, and it resulted in the construction of the Kariba Dam, which is now one of the largest hydroelectric power plants in Africa. Another notable example is the Nhimbe Fresh project, which is a joint venture between local farmers and diaspora investors.

This project has helped to boost the production of fruits and vegetables in Zimbabwe and has also created jobs for local farmers.