By Nomthandazo Ndlovu
Economic analysts say Diaspora remittances play an essential role in the country’s economy as they help balance the books in terms of foreign currency exchange earnings for the country.
Speaking to Great Dyke news, Economic analyst and Affirmative Action Group Matabeleland Chapter President Reginald Shoko said now there is a need for diasporans to invest their money in proper productivity around the economy.
Also speaking to the same reporter, economist Persistence Gwanyanya echoed the same sentiments saying what is needed now is to strengthen the formal system so that citizens have confidence in the banking system.
Diaspora remittances rose by 58 percent last year, to about US$1 billion.