Data provided by McGregor BFA
All data is delayed
Loading...
See More
Where am I? Home

Zimbabweans send R5bn home

Apr 12 2012 08:23 Sapa

Related Articles

DTI: Invest in Zimbabwe

Analysts slam Zim mining policy

Harare writes off third of maize crop

SA among worst hit by brain drain

Tsvangirai: BEE rule too stringent

Calculated risks

 

Cape Town - Zimbabweans in South Africa send nearly R5bn home a year through largely informal channels, it was reported on Thursday.

The Cape Times reported about 82% of this money was sent through informal channels such as friends and bus and truck drivers, according to a survey.

Most people who sent money this way felt it was more convenient and less expensive, even though there was a chance of being ripped off.

The survey, conducted by People Against Suffering, Oppression and Poverty (Passop), found that about two-thirds of relatives in Zimbabwe relied on this money to survive.

A total of 350 Zimbabweans were interviewed in De Doorns and Masiphumelele, in the Western Cape.

Passop programme coordinator David von Burgsdorff said it planned to make submissions to the government that would benefit immigrants and the economy.

"South Africa has access to only 10% of the money. They can't tax it and they have absolutely no control over it," he said.

"By improving the accessibility of formal channels and lifting some of the restrictions, the South African government stands to gain a lot."

 
zimbabwe  |  money
NEXT ON FIN24X

 
 
Comment on this story
38 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

For detailed Unit Trust information, click here.

We're Talking About...

The Debt Issue

The Debt Issue brings you the latest debt news, tips on how to deal with and avoid debt, a panel of debt experts and real life debt stories from across South Africa.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...