By Rex Mphisa
PRESIDENT Emmerson Mnangagwa on Independence Day this year acknowledged the huge economic contributions by people living abroad and said the country recognises the valuable input and thanked them.
“Bayathumeza imali, abantwana bethu abaphetsheya, siyababonga. Varikutumira mari, vana vedu, varikunze kwenyika, tinovatenda ( they are sending money those who are abroad and we thank them),” he said.
He was addressing thousands of Zimbabweans who thronged the wet Maphisa Stadium for the country’s 46th Independence anniversary.
Diasporan financial contributions represent a critical source of external finance for many developing nations, often surpassing foreign direct investment (FDI) and official development assistance (ODA).
These contributions include, but are not limited to, remittances for families, direct investments in businesses, and philanthropic investments in local communities.
In Zimbabwe diaspora remittances are now the second-largest source of foreign currency after exports.
While historically used for household consumption and basic needs, a growing portion of this money is now being directed toward property development, small-business investment, and education.
The remittances grew by over 12% in the first nine months of 2025 compared to 2024, with projections suggesting total annual inflows could exceed US$2.7 billion.
The key sources have been the United Kingdom which was in 2025 the top source of remittances contributing US$709.6 million, closely followed by South Africa US$702.6 million.
The areas impacted by these diaspora investments include household support, having been crucial cushion for families consumption, education, healthcare, and housing.
Through the Zimbabwe Investment and Development Agency (ZIDA), diaspora investments have also been directed into productive sectors, including agriculture, mining, real estate, and manufacturing.
There are other high-potential sectors identified where investment could be made in significant opportunities in renewable energy with a US$1.5B–US$2.0B capacity, according to research.
There is also a push towards technological transfer in AI, STEM, and green energy initiatives to support national development goals.
Mnangagwa also commended the banking sector he said reverted to its core business.
“However, more must be done to ensure full financial inclusivity. This year’s celebrations are being held in the midst of yet another successful agricultural season. The 2024/2025 summer season produced 2.4 million tons of maize and close to 635 000 tons of traditional grains, exceeding the national annual grain requirement.”
He said the 2025 winter wheat harvest surpassed 640 000 tons, against a national requirement of550 000 tons an achievement he said demonstrated the impact of the wheat-based food security strategy.
The Strategic Grain Reserve, he said, continues to guarantee the country National food security and sovereignty.
He said modern Artificial Intelligence-enabled grain silos are under construction in Bindura, Gokwe, Guruve, Kwekwe, Lupane, Macheke, Marondera, Masvingo, Mhangura, Mutare, Mvurwi, Plumtree, Raffingora and Rutenga.
“Government, is scoring unprecedented progress with regards to climate proofing our agriculture sector through de-linking food production from rainfall dependency. Regrettably, some areas continue to experience climate change induced flooding and mid-season droughts which negatively affect yields.”
He said those in areas in need will, as per tradition, benefit from existent measures, including the Isiphala seNkosi/Zunde raMambo, and get food assistance.
“No one and no region will starve.Going forward, under the Second Republic, the agriculture sector is becoming a net exporter of value-added produce. The sector will further diversify, grow the country’s industrial base and enhance global competitiveness towards increased foreign currency inflows as well as sustainable levels of earnings, for our farmers.”
“Together, as a united, hard-working and focused people, we are achieving Vision 2030, for a prosperous, modern and industrialised, Zimbabwe, we all want,” said Mnangagwa.