Zimbabwe Finance Conference To Urge Diasporans To Channel Remittances For Zim’s Economic Growth

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By Alois Vinga

THIS year’s annual Zimbabwe Finance Conference (ZFC) slated to take place Wednesday is set to urge Diasporans to channel their remittances towards long term developmental projects in their home country.

The conference will be held virtually.

Speaking to Tuesday, the Financial Markets Indaba managing director, Patrick Muzondo said the event will urge Diasporans to invest strategically while attracting foreign investors.

“As we target international investors to tap into the country’s opportunities, the conference will also equip Zimbabweans in the diaspora to channel remittances for non-consumption needs in favour of long term investments. Research evidence in our possession shows that Zimbabwe’s economy has abundant opportunities which need to be taken up,” he said.

“The keynote speaker is Manuel Leanza, the Sales Director at Rifinitiv which is a subsidiary of the London Stock Exchange Group (LSEG). He will participate in a panel discussion with the Zimbabwe Stock Exchange (ZES) officials alongside other reputable speakers.”

The conference comes at a time when Zimbabwe has managed to achieve currency stability after an era of economic volatility presenting an opportunity for investors to reap meaningful dividends.

Recently, the Reserve Bank of Zimbabwe governor John Mangudya also urged the financial services sector to take advantage of the obtaining economic environment and inject long term funds in order to transform the stability into growth.

Recently Zimbabwe National Statistics Agency reported that the monthly inflation rate fell to 1,58% in April 2021, its lowest since September 2018, and for the eighth month in a row the country saw monthly rises in the cost of living of less than 5,5 % reflecting sustained stability.

The conference is dedicated to showcasing the outstanding growth and commercial opportunities in the developing banking and financial services sector and will draw together innovative financial institutions from Zimbabwe, Africa and around the world.

Discussions will be hinged on The Banking Sector: Financing Challenges and Key Solutions, Capital Markets and the Zimbabwe Stock Exchange, Fintech, Innovation and Remittances and the Zimbabwe Insurance Industry among other issues.

The annual conferences have been running since 2015 in Zimbabwe and abroad but this year due to the, Covid-19 pandemic restrictions, the organisers have opted for online platforms.