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Mainstreaming diaspora for development with capacity building and expert deployment

Expert log-in

Diaspora Financial Products

Zimbabwe

Africa-East

2011

In 2011 the Commercial Bank of Zimbabwe (CBZ) initiated the floating of a US$50 million Diaspora Bond. The proceeds of the Diaspora Bond were to be used to fund infrastructure projects in electricity, coal, manufacturing, and other sectors. However, uptake was disappointing, and the bond failed to achieve scale. In 2019, CBZ started offering diaspora mortgages in the form of a CBZ foreign denominated loan that allows diaspora investors to invest in property in Zimbabwe.