Zimbabweans in the diaspora – their worst Investment fears

by | Apr 23, 2014 | financial planning | 0 comments

I spend the day with my Uncle and what he said enraged and motivated me to write this article. The stories he has been hearing about Zimbabweans in the diaspora reminded me of what I would hear too. I have a few I will share with you in this article and if these are true, then there is need for action. I have been talking to a few people in the diaspora and they have shared to me their experiences and also what hinders them to make meaningful investments in Zimbabwe. I have talked to more than 100 Zimbabweans in The United Kingdom, China, United States, South Africa and Jamaica. I have also exchanged emails with Zimbabweans in other parts of the world but mainly from the countries stated above.

 

It is quite saddening to think these people are working so hard in the diaspora but have been mistreated by us in Zimbabwe. Alas, these mistreatments came a little too late for me to help those who have been a victim of this investment curse. I wish I could go out and buy a time machine, go back ten years when most Zimbabweans migrated to the UK and other countries, set up an escrow service to help them Invest, then gone forward in time to today, go to Kariba for a one week boat cruise with them and review their Investments but sadly I cannot. Some have collapsed and died whilst others are now wasted to chronic illness. The survivors have been spared but they have failed to return home at the appointed time because here in Zimbabwe there is nothing. Zilch! They will suffer if they are to return. The question then is why aren’t they coming back when they have been investing in Zimbabwe? The investments were abused.

 

The stories begin – The Zimbabwean mother in UK

I first heard this story when I was at college and it touched me but as the old saying goes, “No one would have remembered the Good Samaritan if he had only just had good intentions. He had money as well.” I was only just a Good Samaritan but I couldn’t do anything. The stories I heard today made me remember everything I heard all my childhood. I will give this lady the name Mai Tendai to protect her identity. For you to realize the severity of her story Mai Tendai is dead and all I want is to avoid another Mai Tendai.

Mai Tendai found a job in the UK and left her children in the good hands of her husband. She worked so hard that she managed to take care of herself and her family. Mai Tendai knowing that she was just a pilgrim in the UK would deprive herself of many things, sending the bulk of the money here in Zimbabwe for Investments. Her husband lost his job and Mai Tendai took a second job. She asked the husband to look for a residential stand. The husband did as told. The stand motivated Mai Tendai to work even harder and she began depriving herself more for the sake of the building project. The husband would send her pictures as updates. After the house was completed, she continued sending more money so that her husband would invest. They were supposed to own a fleet of buses a block of flats and heavily invested on the stock market. On the seventh year, it was time for Mai Tendai to return. She was greeted by a wooden cabin on their peace of land. The pictures her husband was sending were for the house next door. The businesses they would talk of on the phone were nonexistent. As if that was not enough, the husband had another woman and they had a three year old daughter. She had worked for nothing. Her seven years in UK had gone down the drain and she had nothing to show for it. She collapsed and died.

 

I know these stories are not new and if you can relate to any personally or you know someone who experienced it, write a comment below. This is an extreme case of abused Investments in Zimbabwe. Some have had their investments squandered by close relatives (wives, brothers, sisters etc.)

A similar story – abused properties

My experience in property underwriting and valuation in Zimbabwe has made me notice yellow signs of properties being abused. Five minutes on a property can tell me about the owner’s whereabouts and how long he has been away if he isn’t using the property. I have seen people set a fire in the dining right on the floor because it’s not their property. Surprisingly the fireplace will be there. It is the worst form of moral hazard and the owner of the property will only know on his or her return. At a different property where I had visited a friend, I was shocked to learn that water had been cut off for almost a year. At another house, sewage systems were down and no one bothered. In all these different cases, the owners of the properties were in the diaspora and mostly UK.

I have got a lot of sad example but too complicated to write in a single post and I know you too can write a book about these issues. However, this blog is an Investment blog and not for venting your anger. The question is how we can avoid these sad endings in future. I want your coming home plan to be a happy experience. I do not want it to be a curse. Iam still trying to come up with a solid plan to assist all those in the diaspora and what I have now is worth

 

The conclusion

I have managed to come up with a team of experts in real estate and Investments. They have amazing experience. We have been trouble shooting on how to create an Investment guardian angel for those whose assets and Investments are in Zimbabwe. We have structured a plan which though still rudimentary, can be the Batman saving all the citizens of Gotham – you in the diaspora. If you are interested in trying out this service drop me an email on invest@www.ziminvestors.com. If this helps you, pass on the word to anyone you know who is out there. I will sign off here and as always: To your continued success.

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