Accessibility links

Zimbabweans Reject Proposed Diaspora Bonds

  • Gibbs Dube

Zimbabweans living outside the country have dismissed as unworkable proposals by Finance Minister Patrick Chinamasa to issue diaspora bonds that will enable them to invest back home.

Some of the Zimbabweans told VOA Studio 7 they are not interested in the diaspora bonds which are contained in the nation’s 2014 national budget presented by Chinamasa in parliament on Thursday.

They said their investments won’t be protected by the Zanu-PF government that forced them to leave Zimbabwe due to the country’s socio-economic and political crisis between 2000 and 2009.

Most of them said they should be allowed to participate in Zimbabwe’s elections before they think about investing back home.

One of them, Bekithemba Mhlanga, who is also a political commentator based in London, said Chinamasa’s proposals are a non-starter.

But Zanu-PF activist and political commentator, Morris Ngwenya, disagreed saying the country’s laws do not encourage the seizure of private property and external investments.

People living outside the country remitted $1.6 billion between January and November this year, which is almost 36 percent of Zimbabwe’s 2014 national budget.

Mr. Chinamasa also proposed in his budget to set aside funds for paying pensions and outstanding allowances of former cabinet ministers and members of parliament.
Most of them are currently struggling to make ends meet.

Former Kariba MP Cleopas Machacha is one of those who are struggling to make ends meet as he no longer has any source of income.