UK Set To Top Zimbabwe Remittances, Overtaking South Africa

For the first time, the United Kingdom (UK) is set to become the largest source of remittances to Zimbabwe from its diaspora, surpassing South Africa, according to Treasury estimates.

South Africa has traditionally led remittance inflows, hosting the biggest Zimbabwean community abroad. The country’s 2022 census recorded just over one million Zimbabweans, though the actual number is likely higher.

Finance Minister Mthuli Ncube told MPs at a pre-budget seminar that official remittances to Zimbabwe are expected to rise to US$2.7 billion in 2025, up from US$2.57 billion in 2024. Said Ncube:

“Growth in remittances has remained strong, from US$922 million in 2019 to US$2.58 billion in 2024 and further projected to surpass US$2.72 billion in 2025, representing a cumulative growth of 195% between 2019 and 2024. In 2026, remittances are projected to grow further to US$2.75 billion.”

Of the projected US$2.72 billion in remittances to Zimbabwe this year, the UK is expected to contribute 28.6%, overtaking South Africa’s 27.5%. The United States will provide 11.2%, followed by Australia (5.5%) and Botswana (2%).

The change indicates the rapid growth of Zimbabwean migration to the UK, particularly among health workers.

Between June 2023 and June 2024, around 36,000 Zimbabweans moved to the UK, up from 32,000 the previous year, according to the UK’s Office for National Statistics.

This made Zimbabweans one of the top five non-EU nationalities for long-term migration to Britain.

However, stricter immigration rules have since slowed arrivals to about 16,000 over the same period this year.

More: newZWire