Bulawayo, Zimbabwe — Migrants now send home more money than foreign aid, and this is pulling rural families out of poverty, according to the International Fund for Agricultural Development (IFAD). A new report, Sending Money Home, released this week, asserts that remittances have become the world’s largest and most resilient source of household finance during…
THE return of Zimbabweans from South Africa fleeing xenophobic attacks will not affect Zimbabwe’s remittances, which account for a significant proportion of the gross domestic product, a government official has said. GeographicReferenceAccording to statistics, Zimbabwe has since recorded US$1.55 billion in diaspora remittances, a figure that is expected to double before the year-end, as per…
Other global south economies provide valuable lessons on successfully transforming remittance flows into broad-based growth. In just over a decade, remittance inflows to Africa have surged from approximately US$53 billion in 2010 to US$95 billion in 2024. During this time, their share of the continent’s GDP rose from 3.6% to 5.1%, making remittances one of…
