Africa-Diaspora: A Power Partnership for Economic Growth [Business Africa]

This week, Business Africa is taking place in Paris for a special edition held during the Business Africa 2025 Forum.

Three major themes are on the agenda: financial intelligence as a driver of development, the return of diaspora talent, and the role of women in entrepreneurship.

Financial Intelligence, Key to Africa’s Economic Development

One of the major issues discussed during the Business Africa Forum is the importance of financial intelligence in accelerating the continent’s growth. Although digitalization has helped improve financial inclusion, financial literacy remains insufficient.

For Stanislas Zeze, CEO of Bloomfield Investment Corporation, digital transformation represents a unique opportunity:

“With digital technology, we have bridged the financial intelligence gap. Today, anyone can conduct transactions, regardless of their location. This inclusivity is real and allows us to catch up on some of the delays Africa has accumulated.”

However, this progress cannot be fully utilized without strengthening financial management knowledge. Joel Kabuya, Deputy CEO of Ecobank in the DRC, highlights this gap:

“Financial intelligence is the set of knowledge and skills needed to create value. Unfortunately, it is lacking in our education system. Many entrepreneurs have ideas and potential but lack the financial education necessary to turn them into reality.”

At the same time, Stanislas Zeze stresses the importance of not relying solely on multinational companies for the continent’s development:

“If your country develops solely through foreign companies, economic inclusion will be difficult. Wealth must be created by local businesses so that it benefits the population.”

The Return of Diaspora Talent: A Driving Force for Africa

Another strong trend discussed is the return of African diaspora talent. In 2020, 40% of the diaspora in France considered returning to the continent immediately, and 71% within the next ten years. This momentum is accelerating in 2024 with Africa’s 4% growth and the rise of opportunities in digital, agriculture, and education.

However, this return is not without its challenges. As Yacine Ben Fylla, founder of Ballers House Agency, points out:

“Africa is a continent full of opportunities, but one should not believe that everything will be easy. We still have structural challenges and a leadership problem, with key positions that must be filled by the right people.”

In the face of these obstacles, the complementarity between diaspora entrepreneurs and local players appears as a key solution. Stéphane Tiki, development director and spokesperson for the Groupement du Patronat Francophone, emphasizes the importance of this collaboration:

“We should not oppose the diaspora and local entrepreneurs. Those returning with expertise gained in France, for example, need locals who know the terrain. It is by combining these experiences that we will build solid and sustainable projects.”

Régis Mutombo Katalayi, founder of the Business Africa Forum, shares this vision and stresses the essential role of the diaspora in the continent’s development:

“The diaspora is an ambassador. It must lead by example. It’s not enough to send money; it’s also about creating opportunities, investing, and building a true economic bridge between Africa and the diaspora.”

A concrete example of this dynamic is the real estate sector, where many diaspora members are investing in Africa, generating jobs and local value:

“The diaspora is buying property in Africa, which means they need to build it with locals. This creates jobs and funds development. It’s not just words, it’s real.”

Women and Entrepreneurship: A Battle for Equal Opportunities

The third major theme of this edition concerns women’s entrepreneurship, which is progressing but still faces persistent inequalities. According to a study by the Boston Consulting Group, female entrepreneurs in France receive 30% less funding than men, and this figure rises to 50% for Afro-descendants.

In Africa, the situation is even more complicated. The World Bank reveals that only 20% of businesses are led by women, and they only access 1% of the total available financing. Gwenola Monteiro, founder of Weno Holding, shares her struggles:

“Raising funds as a woman is very complicated. We are always brought back to our traditional role at home. There is a lack of funds specifically dedicated to women in our community.”

In the face of financial and cultural barriers, some female entrepreneurs choose self-financing. This is the case for Penola Lawson, founder of the fragrance brand Lawson Paris:

“Before starting my business, I first created content to secure funds. It’s an adventure where we often move forward blindly, but you have to be prepared.”

An Unmissable Forum for the Future of African Entrepreneurship

Through these themes, this special edition of the Business Africa Forum highlights the opportunities and challenges shaping the African economy. As its founder, Régis Mutombo Katalayi, points out:

“Business Africa is primarily a platform to promote and connect African entrepreneurs. The goal is to give visibility, but also to encourage concrete partnerships between Africa and its diaspora.”

This commitment makes the Business Africa Forum an unmissable event for anyone wanting to actively contribute to the development of the continent.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}