Zimbabwe registered a 23-percent increase in diaspora remittances during the first six months of 2022 compared to the same period last year, central bank governor John Mangudya announced on Thursday.

In a Mid-Term Monetary Policy Statement, the Reserve Bank of Zimbabwe (RBZ) chief said total international remittances amounted to US$1.372 billion as of June 30 this year, which translated to an increase of 23 percent from the US$1.113 billion recorded during the same period in 2021.  

“Of the total amount, diaspora remittances amounted to US$797 million, a 23 percent increase from US$650 million received during the same period in 2021,” Mangudya said.

The remainder comprised international remittances received through the normal banking system on behalf of international organisations. These rose 24 percent to US$575 million from US$463 million during the first half of 2021, Mangudya said.

Zimbabwe has a sizeable diaspora community, mainly in the Australia, South Africa, United Kingdom and United States.

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Mangudya also revealed that total foreign currency receipts for the first six months of 2022 amounted to US$5.45 billion compared to US$4.07 billion received during the same period in 2021. 

JN/APA

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