A group of Zimbabweans based in the United Kingdom met on Saturday 11 February 2017 in the country’s second city Birmingham to launch the Zimbabwe Diaspora Investment Group (ZiDIG) in the process successfully raising £100,000 as a seed for an investment fund.
The company, which will be embarking on a series of roadshows to raise money for an investment fund from Zimbabweans based abroad and institutional investors, is a first of its kind concept where a fund run exclusively by Zimbabweans in diaspora is being put together for the purposes of tapping Zimbabwe’s vast investment potential.
Presenting the ZiDIG concept to invited delegates in Birmingham, founder and CEO Mr Taffi Nyawanza said the vehicle was about providing a platform where diasporans’ financial resources would be pooled together before being partnered with institutional and developmental investor funds to invest in identified opportunities in Zimbabwe.
“We want to be able to invest in opportunities where we can have an impact by creating employment while giving investors a decent return”, Mr Nyawanza said.
“The £100,000 raised today is a seed which we will use to attract further resources from Zimbabwe’s diaspora community and institutional and developmental partners put into an investment fund”.
Buoyed by the successful launch, ZiDIG will use the momentum generated at the weekend’s meeting to institute its first investment fund before setting off on a roadshow covering the USA and South Africa.
Present at the meeting were African Foundation for Development (AFFORD) who presented their UK government backed £600,000 Diaspora Finance Initiative (DFI) grant. The grant is being distributed by way of a business planning competition among African diasporans for business operations in one of the four chosen countries namely Rwanda, Sierra Leonne, Nigeria and Zimbabwe. The project, being piloted in the four countries, is intended to encourage investment into Africa by the African diaspora population.