UK leads as Zimbabwe’s top remittance source, overtaking South Africa

Zimbabwe’s remittance inflows have surged over the past five years, a sign of the growing influence of its diaspora on the national economy.

New data shows that the United Kingdom has now overtaken South Africa as the country’s top source of remittances, stressing shifting migration and income patterns among Zimbabweans abroad.

According to official figures, diaspora remittances rose sharply from US$922 million in 2019 to US$2.58 billion in 2024, a 195% increase. This trend is expected to continue, with inflows projected to reach US$2.72 billion in 2025 and exceed US$2.75 billion by 2026.

Data for the first quarter of 2025 places the United Kingdom and South Africa as the two largest contributors. The UK accounted for 28.6% of total inflows, about US$779 million, while South Africa followed closely with 27.5%, or US$748 million.

Zimbabwe’s recurring economic crises, marked by hyperinflation, currency instability, and declining job opportunities, have driven a steady wave of emigration in recent years.

A growing number of professionals have relocated to the United Kingdom, a shift that has significantly boosted remittance inflows from the diaspora.

Although four out of five Zimbabweans abroad still live in neighbouring South Africa, changing migration patterns and income levels are reshaping the flow of funds back home.

South Africa’s share of Zimbabwe’s remittance inflows has gradually declined, falling from 38.3% in 2021 to 27.5% in 2025, while the UK’s contribution has steadily grown from 24.7% to 28.6% over the same period.

Meanwhile, inflows from the US and Australia have seen consistent growth, mirroring changing migration destinations and the expanding economic participation of Zimbabweans abroad.

The United States contributed 11.2% (around US$305 million), while Australia made up 5.5% (roughly US$150 million). Smaller but notable shares came from Canada (2.1%, or US$57 million) and Botswana (2.0%, or US$54 million).

The Rest of the World segment, encompassing multiple smaller contributors, collectively added 23.1%, or US$627 million.