Remittances down 11 percent

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Inward international remittances into Zimbabwe for the year 2017 amounted to $1,4 billion, an 11 percent decrease from $1,6 billion in 2016. Out of the $1,4 billion, Diaspora remittances amounted to $698,9 million. “The bank is encouraged by the trend where authorised dealers are investing in enabling technologies that broaden financial inclusion, reduce remittances cost and increase remittance access points for the convenience of senders and recipients. “These efforts towards formalisation of remittances are key in building sufficient capacity for leveraging on the developmental impact of remittances,” Reserve Bank of…

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