Zimbabwean Minister Says Cryptocurrency Based Solutions ‘Could Lower Charges for Diaspora Remittances’

Zimbabwean Minister Says Cryptocurrency Based Solutions ‘Could Lower Charges for Diaspora Remittances’


The Zimbabwean minister of finance, Mthuli Ncube, has once again talked up the potential advantages of using cryptocurrencies. In new comments made shortly after visiting the DMCC Crypto Centre in Dubai, Ncube raises the possibility that the country might use cryptocurrency-based solutions to lower the cost of remitting funds across borders.

Understanding Cryptocurrencies

Prior to making these remarks about cryptocurrencies, Ncube has previously urged Zimbabwe to “invest in understanding emerging innovations like bitcoin.” At the time, Ncube, who had just been appointed finance minister, told Zimbabwean authorities to emulate countries like Switzerland which he said were “investing in and understanding bitcoin.”

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However, in his latest positive comments about cryptocurrencies, Ncube said:

I visited the DMCC CRYPTO CENTRE in Dubai, which is a fascinating incubation hub for crypto currency and payment solutions. Came across solutions that could lower charges for diaspora remittances.

While some within Zimbabwe’s crypto community on Twitter have applauded Ncube for making such comments, many others are

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