🇿🇼ZimbabweSouthern Africa
Nyambirai encourages businesses to utilize diaspora capital for growth
via NewsDay Zimbabwe5 min read
Tawanda Nyambirai, Cyber Bank chief executive officer, has called on Zimbabwean businesses to explore diaspora remittances as a key source of investment capital to foster growth and competitiveness. Speaking at the Zimbabwe National Chamber of Commerce Matabeleland Annual Business Awards in Bulawayo, Nyambirai emphasized the need for innovative and friendly capital forms, noting that traditional sources have often fallen short. He highlighted the significant flow of millions of dollars into the country through remittances, stressing the emotional connection and long-term nature of this capital. Nyambirai argued that these remittances, which fund income-generating projects like rental properties and small businesses, should be recognized and supported similarly to foreign direct investment. He also encouraged Zimbabweans abroad to pool resources for collective investment and criticized traditional insurance and pension models for their failure to stimulate economic growth. Chief Dakamela, a traditional leader, also urged investment in rural areas due to their abundant land and economic potential.
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
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