UK-Zim business expo targets new diaspora investment

THE Zimbabweans in Diaspora Organisation (ZIDO) and Vaka Ekhaya are set to host the UK-Zimbabwe Business Expo in October this year, providing a unique platform for Zimbabweans to explore investment opportunities.

ZIDO chief executive Blessed Kapesa

The event, which will take place on the 5th of October at the Bethel Convention Centre in Birmingham, UK, aims to bridge the gap between the diaspora community and the vast investment prospects in Zimbabwe.
This expo aligns with the Zimbabwean government’s ongoing call for diaspora investment, encouraging Zimbabweans abroad to capitalise on opportunities in key sectors such as mining and agriculture.
ZIDO chief executive Blessed Kapesa emphasised the event’s importance, stating, “This event seeks to acknowledge and celebrate the exceptional investments made by outstanding Zimbabweans and companies with diaspora interests, all of which have played a pivotal role in transforming Zimbabwe into a thriving economy.”
Diaspora remittances are a cornerstone of Zimbabwe’s economy, with the latest data from the central bank indicating a 16 percent increase to US$1,87 billion last year, up from US$1.617 billion the previous year.

It is estimated that three million Zimbabweans live outside the country, contributing at least 17 percent to the country’s foreign currency receipts.

“The importance of such remittances cannot be overstated. They contribute significantly to the country’s foreign currency reserves, helping to stabilise the national economy.
“Additionally, they support household consumption, education, healthcare, and infrastructure development, driving overall economic growth,” Kapesa noted.
The expo is expected to attract at least 5 000 participants and will offer a wide range of products and services.
Kapesa highlighted that Zimbabweans abroad are eager to invest in their homeland but often lack comprehensive information and guidance, leading some to fall prey to fraudulent schemes.
“The UK-Zimbabwe Business Expo aims to address this issue by gathering key stakeholders in one venue, including relevant government departments.
“This will make it easier to do business and ensure that the diaspora community can invest with confidence,” Kapesa added.
This event represents a significant opportunity for the diaspora community to reconnect with Zimbabwe’s economic landscape and contribute to its future growth