WORKERS in the diaspora contributed US$635,2 million in the year’s first half signaling a 7,1% increase compared to the same period last year.
Presenting the mid-term budget review recently, Finance Minister Mthuli Ncube said the revenue category performed fairly well.
“Remittances increased by 7,1%, from US$593.2 million in the first quarter of 2024 to US$635.2 million in 2025. The remittances have had a favourable impact on the current account balance. To year end, remittances are projected to increase by 4.9% from US$2.6 billion in 2024 to US$2.7 billion in 2025, sustaining a positive current account balance. Given the strategic importance of the diaspora community, the Government seeks to strengthen their role in the development of the country,” he said.
Ncube said the government is finalising the formulation of the diaspora policy, which will outline measures to promote remittances at a minimum cost and give guidelines on various investment initiatives.
During the period, direct investment inflows were estimated at US$184,9 million in the first quarter of 2025, up from US$103,5 million recorded in the corresponding quarter of 2024.
The inflows were mainly in the form of capital equipment, predominantly directed towards the mining and manufacturing sectors.
During the quarter, 207 new investment licenses were issued, marking a 44.8% increase compared to the corresponding period in 2024.
The successful launch of ZIDA’s digital investment license issuance system is anticipated to streamline processes, thereby enhancing investor confidence and operational efficiency.
Direct investment inflows are projected to grow to over US$600 million in 2025 with the major recipients being energy, mining and manufacturing sectors.
WORKERS in the diaspora contributed US$635,2 million in the year’s first half signaling a 7,1% increase compared to the same period last year.
Presenting the mid-term budget review recently, Finance Minister Mthuli Ncube said the revenue category performed fairly well.
“Remittances increased by 7,1%, from US$593.2 million in the first quarter of 2024 to US$635.2 million in 2025. The remittances have had a favourable impact on the current account balance. To year end, remittances are projected to increase by 4.9% from US$2.6 billion in 2024 to US$2.7 billion in 2025, sustaining a positive current account balance. Given the strategic importance of the diaspora community, the Government seeks to strengthen their role in the development of the country,” he said.
Ncube said the government is finalising the formulation of the diaspora policy, which will outline measures to promote remittances at a minimum cost and give guidelines on various investment initiatives.
During the period, direct investment inflows were estimated at US$184,9 million in the first quarter of 2025, up from US$103,5 million recorded in the corresponding quarter of 2024.
The inflows were mainly in the form of capital equipment, predominantly directed towards the mining and manufacturing sectors.
During the quarter, 207 new investment licenses were issued, marking a 44.8% increase compared to the corresponding period in 2024.
The successful launch of ZIDA’s digital investment license issuance system is anticipated to streamline processes, thereby enhancing investor confidence and operational efficiency.
Direct investment inflows are projected to grow to over US$600 million in 2025 with the major recipients being energy, mining and manufacturing sectors.
WORKERS in the diaspora contributed US$635,2 million in the year’s first half signaling a 7,1% increase compared to the same period last year.
Presenting the mid-term budget review recently, Finance Minister Mthuli Ncube said the revenue category performed fairly well.
“Remittances increased by 7,1%, from US$593.2 million in the first quarter of 2024 to US$635.2 million in 2025. The remittances have had a favourable impact on the current account balance. To year end, remittances are projected to increase by 4.9% from US$2.6 billion in 2024 to US$2.7 billion in 2025, sustaining a positive current account balance. Given the strategic importance of the diaspora community, the Government seeks to strengthen their role in the development of the country,” he said.
Ncube said the government is finalising the formulation of the diaspora policy, which will outline measures to promote remittances at a minimum cost and give guidelines on various investment initiatives.
During the period, direct investment inflows were estimated at US$184,9 million in the first quarter of 2025, up from US$103,5 million recorded in the corresponding quarter of 2024.
The inflows were mainly in the form of capital equipment, predominantly directed towards the mining and manufacturing sectors.
During the quarter, 207 new investment licenses were issued, marking a 44.8% increase compared to the corresponding period in 2024.
The successful launch of ZIDA’s digital investment license issuance system is anticipated to streamline processes, thereby enhancing investor confidence and operational efficiency.
Direct investment inflows are projected to grow to over US$600 million in 2025 with the major recipients being energy, mining and manufacturing sectors.
THE Insurance and Pensions Commission (IPEC) has paused the dissolution of pension funds to pave way for the conclusion of pre-2009 compensations to members who lost value during the hyperinflationary period from 2007-2008.
The country switched currencies ZWL to multi-currencies in 2009 after the zimdollar had become moribund.
According to the IPEC Pensions Report for the first quarter of 2024, 372 pension funds were earmarked for dissolution this year, with 15 of them dissolved during the period under review.
The Justice George Smith-led Commission of Inquiry constituted in 2015 recommended that policy holders who were prejudiced by the conversion process during dollarisation be compensated. It blamed the value erosion largely on poor regulatory enforcement and the demonetisation process for the local currency.
The Pensions and Provident Funds (Compensation for Loss of Pre-2009 Value of Pension Benefits) Regulations, 2023, were gazetted on September 29, 2023, through Statutory Instrument (SI) 162 of 2023.
“Meanwhile, the commission has put the dissolutions on hold pending the conclusion of the pre-2009 compensation to ensure fairness among members,” reads the report.
Government has set aside US$175 million towards compensation efforts and pension funds were asked to come up with their frameworks and payment plans.
There were 966 registered occupational pension funds as of March 31, 2024, compared to 978 in 2023, during the same period. The decline is a result of 15 dissolutions that were finalised during the year. There were eight transfers and six new funds that were registered during the same period.
“Of the 966 funds, 481 were active, accounting for 49,79 percent of the industry’s funds. The remaining 485 funds were inactive as they were either paid up or earmarked for dissolution,” reads the report.
Of the total funds, 40 were defined benefit schemes, with the remainder being defined contribution schemes.
The US president raged at NATO allies over defense spending in meeting with the German chancellor, as Israel ordered its military to ‘advance’ in Lebanon
By Own Correspondent
WORKERS in the diaspora contributed US$635,2 million in the year’s first half signaling a 7,1% increase compared to the same period last year.
Presenting the mid-term budget review recently, Finance Minister Mthuli Ncube said the revenue category performed fairly well.
“Remittances increased by 7,1%, from US$593.2 million in the first quarter of 2024 to US$635.2 million in 2025. The remittances have had a favourable impact on the current account balance. To year end, remittances are projected to increase by 4.9% from US$2.6 billion in 2024 to US$2.7 billion in 2025, sustaining a positive current account balance. Given the strategic importance of the diaspora community, the Government seeks to strengthen their role in the development of the country,” he said.
Ncube said the government is finalising the formulation of the diaspora policy, which will outline measures to promote remittances at a minimum cost and give guidelines on various investment initiatives.
During the period, direct investment inflows were estimated at US$184,9 million in the first quarter of 2025, up from US$103,5 million recorded in the corresponding quarter of 2024.
The inflows were mainly in the form of capital equipment, predominantly directed towards the mining and manufacturing sectors.
During the quarter, 207 new investment licenses were issued, marking a 44.8% increase compared to the corresponding period in 2024.
The successful launch of ZIDA’s digital investment license issuance system is anticipated to streamline processes, thereby enhancing investor confidence and operational efficiency.
Direct investment inflows are projected to grow to over US$600 million in 2025 with the major recipients being energy, mining and manufacturing sectors.
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By Own Correspondent
WORKERS in the diaspora contributed US$635,2 million in the year’s first half signaling a 7,1% increase compared to the same period last year.
Presenting the mid-term budget review recently, Finance Minister Mthuli Ncube said the revenue category performed fairly well.
“Remittances increased by 7,1%, from US$593.2 million in the first quarter of 2024 to US$635.2 million in 2025. The remittances have had a favourable impact on the current account balance. To year end, remittances are projected to increase by 4.9% from US$2.6 billion in 2024 to US$2.7 billion in 2025, sustaining a positive current account balance. Given the strategic importance of the diaspora community, the Government seeks to strengthen their role in the development of the country,” he said.
Ncube said the government is finalising the formulation of the diaspora policy, which will outline measures to promote remittances at a minimum cost and give guidelines on various investment initiatives.
During the period, direct investment inflows were estimated at US$184,9 million in the first quarter of 2025, up from US$103,5 million recorded in the corresponding quarter of 2024.
The inflows were mainly in the form of capital equipment, predominantly directed towards the mining and manufacturing sectors.
During the quarter, 207 new investment licenses were issued, marking a 44.8% increase compared to the corresponding period in 2024.
The successful launch of ZIDA’s digital investment license issuance system is anticipated to streamline processes, thereby enhancing investor confidence and operational efficiency.
Direct investment inflows are projected to grow to over US$600 million in 2025 with the major recipients being energy, mining and manufacturing sectors.
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By Own Correspondent
WORKERS in the diaspora contributed US$635,2 million in the year’s first half signaling a 7,1% increase compared to the same period last year.
Presenting the mid-term budget review recently, Finance Minister Mthuli Ncube said the revenue category performed fairly well.
“Remittances increased by 7,1%, from US$593.2 million in the first quarter of 2024 to US$635.2 million in 2025. The remittances have had a favourable impact on the current account balance. To year end, remittances are projected to increase by 4.9% from US$2.6 billion in 2024 to US$2.7 billion in 2025, sustaining a positive current account balance. Given the strategic importance of the diaspora community, the Government seeks to strengthen their role in the development of the country,” he said.
Ncube said the government is finalising the formulation of the diaspora policy, which will outline measures to promote remittances at a minimum cost and give guidelines on various investment initiatives.
During the period, direct investment inflows were estimated at US$184,9 million in the first quarter of 2025, up from US$103,5 million recorded in the corresponding quarter of 2024.
The inflows were mainly in the form of capital equipment, predominantly directed towards the mining and manufacturing sectors.
During the quarter, 207 new investment licenses were issued, marking a 44.8% increase compared to the corresponding period in 2024.
The successful launch of ZIDA’s digital investment license issuance system is anticipated to streamline processes, thereby enhancing investor confidence and operational efficiency.
Direct investment inflows are projected to grow to over US$600 million in 2025 with the major recipients being energy, mining and manufacturing sectors.
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By Staff Reporter
THE Insurance and Pensions Commission (IPEC) has paused the dissolution of pension funds to pave way for the conclusion of pre-2009 compensations to members who lost value during the hyperinflationary period from 2007-2008.
The country switched currencies ZWL to multi-currencies in 2009 after the zimdollar had become moribund.
According to the IPEC Pensions Report for the first quarter of 2024, 372 pension funds were earmarked for dissolution this year, with 15 of them dissolved during the period under review.
The Justice George Smith-led Commission of Inquiry constituted in 2015 recommended that policy holders who were prejudiced by the conversion process during dollarisation be compensated. It blamed the value erosion largely on poor regulatory enforcement and the demonetisation process for the local currency.
The Pensions and Provident Funds (Compensation for Loss of Pre-2009 Value of Pension Benefits) Regulations, 2023, were gazetted on September 29, 2023, through Statutory Instrument (SI) 162 of 2023.
“Meanwhile, the commission has put the dissolutions on hold pending the conclusion of the pre-2009 compensation to ensure fairness among members,” reads the report.
Government has set aside US$175 million towards compensation efforts and pension funds were asked to come up with their frameworks and payment plans.
There were 966 registered occupational pension funds as of March 31, 2024, compared to 978 in 2023, during the same period. The decline is a result of 15 dissolutions that were finalised during the year. There were eight transfers and six new funds that were registered during the same period.
“Of the 966 funds, 481 were active, accounting for 49,79 percent of the industry’s funds. The remaining 485 funds were inactive as they were either paid up or earmarked for dissolution,” reads the report.
Of the total funds, 40 were defined benefit schemes, with the remainder being defined contribution schemes.
The US president raged at NATO allies over defense spending in meeting with the German chancellor, as Israel ordered its military to ‘advance’ in Lebanon