Clive Mphambela, an economist at the Bankers Association of Zimbabwe (BAZ) has urged the government to focus on formulating policies which attract Zimbabweans in the diaspora to invest in their country instead of trying to attract investment from foreigners. Speaking at the at the two day national Diaspora action plan meeting, Mphambela said:
Zimbabwe does not need remittances because remittances are small change money. The country needs huge investments and those investments are with our citizens.
For us to unlock these billions of dollars which Zimbabweans have we must move away from a development of unrolling red carpet at the Harare International Airport when foreigners like Aliko Dangote come and sending security agents to the same airport when our own Strive Masiyiwa announces that he wants to come to Zimbabwe.
This opens doors for externalization because foreigners will not remit but take back to their countries of origins all the profit they would have made.
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