Terms of Reference – Understanding the Remittances from Botswana to Zimbabwe

FinMark Trust would like to commission a study to understand the remittances from Botswana to Zimbabwe. These are formal as well as informal channels. The values and volumes, the costing as well as the regulatory environment for remittances needs to be examined.


Remittances sent home by migrants to developing countries are estimated to be more than three times the size of official development assistance and represent a lifeline for the poor, particularly in fragile and post-conflict nations. The World Bank estimated that remittances totaled $436 billion in 2014, an increase of 7.8% over the 2013 volume. Typically, remittances are the largest source of external finance for developing countries. Remittance flows are expected to continue growing, with global remittances to developing countries estimated to reach $516 billion in 2016.

There has been significant amount of remittances between different SADC countries as well as remittances beyond the SADC region. However most of these take place using the informal channels and as a result little reliable data exists to measure the values and volumes of cross border remittances in the region. It is of significant importance for the facilitation of regional economic and financial integration to have a clear indication of the cross-border remittances between SADC countries. In addition, the regulatory constraints that prevent the low-income population from using the formal channels need to be understood and analyzed. This will lead to innovative and more suitable products and adjustments to regulations that better serve low income populations in the region.


The overall objective of the project is to understand the remittance corridors of Botswana to Zimbabwe.

The Project will attempt to better understand the following;

  • The major corridors (formal as well as informal) from Botswana to Zimbabwe;
  • The volumes and values involved;
  • The levels of informality;
  • The regulatory environment;
  • The products currently available in the remittance markets and their prices.
  • The systematic constraints at the first, middle and last mile to the formalisation of remittances.

To download the full Terms of Reference, click here.