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Zimbabweans Struggling to Pay Debts Overseas

A man counts US dollars and Burma kyats at a money changer in Rangoon, March 21, 2012.

A large number of Zimbabweans living in various countries say their lives have been wrecked by easy access to credit facilities, which has left most of them saddled with untenable debts.

Some of the affected Zimbabweans who spoke to VOA Studio 7 said they are now failing to cope with life as repaying credits of up to $2,000 has become an uphill task.

At the same time, they say the majority of Zimbabweans living in the diaspora face serious challenges of investing in their adopted nations and back home.

Khumbulani Tshuma, who lives in Sydney, Australia, and is caught up in a web of debts, says he is also failing to invest back home.

Tshuma said, “We see many people driving very expensive cars here but at the end of the day they fail to pay debts accrued through the use of credit facilities. At the same time, we have many people who cannot decide where to invest because they still believe that they will one day go back home.

“Those that have invested in various projects have lost a lot of money because Zimbabweans back home are grappling with a lot of problems and it is unlikely that someone will look after your business while his or her hands are full.”

Dumephi Mema, president of the Association of Zimbabweans Living Abroad, agrees, noting that they should avoid enticing credit cards and think seriously about investing either back home or in the diaspora.