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Vaka Ekhaya Property Expo commits to due diligence for the diaspora

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By Alois Vinga


THE just-ended Vaka Ekhaya Property Expo has committed to employ due diligence in safeguarding diasporans’ investments back home as a strategy to maximise the market segment’s value.

The remarks were made during the one day expo held in Birmingham, United Kingdom where Zimbabweans in the diaspora converged in their hundreds to witness the inaugural Vaka Ekhaya Property Investment Expo.

It also comes at a time when authorities back home have committed to keep their hands on deck in the quest to rein in inflationary pressures and exchange rate instabilities.

The diaspora community remains a vital cog in the development of the country with official records confirming that the segment injects over US$1 billion into the economy annually.

The exposition, which focused on property investment opportunities in Zimbabwe, saw reputable organisations such as Stanbic Bank, Seerf Properties, Rawson Properties, Old Mutual, Chromadek, Access Forex, Zimfest and Nyaradzo, exhibiting.

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Addressing delegates, Vaka Ekhaya CEO Tapiwa Kundoro underscored the inevitable procedure of due diligence saying it was important when handling investments on behalf of the diaspora.

“Due diligence is an important and necessary evil, and it is imperative that diasporans work with reputable professionals to safeguard their investments,” he said.

Another delegate, Ronald Mutasa, a lawyer, urged disaporans not to shun investing back home, but to rise, and start thinking like UK businesses investing into the country.

The high level event allowed corporates to meet with the clients and also afforded them the opportunity to understand the subtle differences between the market back home and the diasporans.

However, a clarion call made throughout the conference urged Zimbabwean local banking institutions to tap into the vast potential deposited in the diaspora market and tailor make products which specifically target the segment.

“Coming here has been an eye-opener for us and given us an opportunity to speak with the diaspora customers face to face and to understand the market and its unique needs.

“Now we go back home with a wealth of information to craft and tailor-make products and services for the diaspora market,” said Nelson Muhau, the Executive Head of Stanbic’s Consumer & amp; High Net-worth Client Segment.

Following the huge success of this initiative, all the corporates which participated pledged their presence for the second edition which is set to be held next UK summer in 2023.

The upcoming event promises to be a banger as more corporates are expected to jostle for the limited sponsorship spots available.

Organisers have already started putting together plans for the Vaka Ekhaya Property Investment Expo Second Edition.