Zimbabweans in SA remit $700 million back home

Zimbabweans in SA remit $700 million back home
Published: 04 December 2014 (1067 Views)

Zimbabweans living in South Africa remitted more than $700 million about (R7,7 billion) back home last year.

This did not make much value as the same money was immediately taken back to South Africa as the country imports most of its goods from the country.

Industry and Commerce Minister Mike Bimha said among reasons the money quickly found its way back to South Africa was the low capacity utilisation which had affected the manufacturing sector.

He said South Africa was Zimbabwe's largest trading partner in Africa stating that goods and services worth $2,9 billion (about R33,64 billion) were supplied into the country during the first ten months of this year.

In the just ended financial year, Zimbabwe imported goods from South Africa worth more than $6 billion against Harare's exports valued at $3 billion.

- The Herald

Tags: Zimbabweans,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

There is Logic in Political Strategy

by Tinashe Eric Muzamhindo | 24 June 2019 | 101 Views

Smuggling: the new corruption frontier in Zimbabwe

by Victor Bhoroma | 24 June 2019 | 90 Views

WATCH: 'Nothing has changed,' says Mthuli Ncube

by Staff Reporter | 24 June 2019 | 123 Views

10 Implications of de-dollarization and introduction of the Zim dollar

by Tapiwa Mashakada and Miriam Mushayi | 24 June 2019 | 164 Views

WATCH: ZANU PF Youths declare war

by Mandla Ndlovu | 24 June 2019 | 126 Views

ZANU PF suspends Obert Mpofu

by Mandla Ndlovu | 24 June 2019 | 181 Views

Joice Mujuru speaks out

by Mandla Ndlovu | 24 June 2019 | 165 Views

Zimbabwe bans use of US Dollar and Rand

by Mandla Ndlovu | 24 June 2019 | 221 Views

Jonathan Moyo says Mthuli Ncube must be stripped off degree

by Mandla Ndlovu | 24 June 2019 | 189 Views

Evidence that Shonas arrived in Zimbabwe 300 years ago (1700's)

by Ndzimu-unami Emmanuel Moyo, PMP | 24 June 2019 | 153 Views

ED full speech at AU - UN summit in Vic Falls

by President ED Mnangagwa | 24 June 2019 | 115 Views

ZESA plunges Lobengula into darkness for 2 months

by Mandla Ndlovu | 24 June 2019 | 117 Views

Massive demonstrations against Mthuli Ncube planned

by Mandla Ndlovu | 24 June 2019 | 167 Views

Mthuli Ncube bans use of US Dollar and Rand

by Mandla Ndlovu | 24 June 2019 | 261 Views

Jonathan Moyo says Mthuli Ncube must be stripped of degree

by Mandla Ndlovu | 24 June 2019 | 210 Views

Chiwenga and Mnangagwa's fight reaches boiling point

by Itai Mushekwe | 24 June 2019 | 322 Views

Police arrest Harare drug syndicate

by Mandla Ndlovu | 24 June 2019 | 163 Views

Chamisa condemns Ethiopia coup attempts

by Staff Reporter | 24 June 2019 | 161 Views

Mthuli Ncube engages journalists

by Staff Reporter | 24 June 2019 | 146 Views

Zim Dollar back?

by Staff Reporter | 24 June 2019 | 190 Views

Mthuli Ncube speaks of Zim dollar imminence

by Staff Reporter | 24 June 2019 | 200 Views

The civil servants problem

by Clemen Moyo | 24 June 2019 | 140 Views

Mnangagwa poisoning; new details emerge

by Mandla Ndlovu | 24 June 2019 | 236 Views

Mthuli Ncube criminalises use of US Dollar and Rand

by Mandla Ndlovu | 24 June 2019 | 168 Views

Jilted man jailed for setting mother-in-law's house ablaze

by Simbarashe Sithole | 24 June 2019 | 114 Views

Another soldier in the suspected armed robbery nabbed

by Simbarashe Sithole | 24 June 2019 | 164 Views

Mnangagwa to open EU-UN Wildlife Economy Summit

by Staff Reporter | 24 June 2019 | 122 Views

Zimbabwe has enough forex, says Chamisa

by Staff Reporter | 24 June 2019 | 166 Views

US tells Mnangagwa to stop interfering with trade unions

by Staff Reporter | 24 June 2019 | 146 Views

Civil servants get pay rise

by Staff Reporter | 24 June 2019 | 196 Views

Nurses call off strike

by Staff Reporter | 24 June 2019 | 115 Views

Arrest thieving Zifa officials

by Staff Reporter | 24 June 2019 | 139 Views

Byo residents up in arms with Zesa

by Staff Reporter | 24 June 2019 | 98 Views

WATCH: Malawi Army steps in

by Mandla Ndlovu | 24 June 2019 | 178 Views

MDC blasts war veterans

by Simbarashe Sithole | 24 June 2019 | 92 Views

Zanu PF youths warned against abusing Mnangagwa's name

by Staff Reporter | 24 June 2019 | 88 Views

Zimbabwe has so far paid $53m to former white farmers

by Staff reporter | 24 June 2019 | 73 Views