Zimbabwe's Q1 diaspora remittances increased 17% to $490m, aiding the US dollar-driven economy.
Zimbabwe's diaspora remittances increased by 17% in Q1, reaching US$490 million from US$420 million in the same period last year. Experts believe this surge in foreign currency will aid the economy, which is largely driven by the US dollar. Analyst Marlon Gwadu stated that the influx of capital is deposited into banks and mobile money platforms, providing much-needed liquidity for businesses and individuals.
July 18, 2024
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