Asides remittances, other diaspora investments can be catalysed into Africa- Expert

Almaz Negash, CEO and founder of the African Diaspora Network (ADN), has noted that although over $100 billion is sent annually in remittances to Africa from the diaspora, other forms of investment can also be catalysed into the continent.

The World Bank reported that remittance flows to low- and middle-income countries surpasses foreign direct investment (FDI) and official development assistance (ODA). These funds have played a crucial role in supporting families, driving local business growth, reducing poverty, and creating jobs.

For diaspora Nigerians in particular, who are primarily concentrated in the United States and the United Kingdom, $19.8 billion was sent back home in 2024.

However, experts argue that the real potential lies in converting these inflows into capital for business creation and infrastructure development. This could also unlock the full potential of diaspora investment. Reports suggest that targeted financial instruments and incentives for diaspora investors would enhance long-term economic sustainability.

Negash also agrees that additional investments can help foster intentional engagement, shaping Africa’s future through entrepreneurship, trade, strategic partnerships, and direct investment.

Governments are now exploring policies to promote more investment-oriented remittance flows, aiming to harness the economic strength of Africans living abroad.

Also, a growing number of initiatives highlight the transition from remittances to structured investments, creating lasting economic impacts beyond immediate financial relief.

African professionals abroad have helped to bridge knowledge gaps, bringing expertise in technology, healthcare, and finance back to their home countries. Others are establishing business partnerships that drive economic progress.

How the Africa Diaspora Network (ADN) is bridging the gap

ADN seeks to bridge this gap by providing a critical platform to discuss transformative partnerships, amplify African and diasporan voices, and catalyse investment and development across the continent.

The organisation has celebrated and championed the entrepreneurial and innovative spirit of Africans, descendants of Africa, and friends of the continent.

“Our commitment runs deeper than dollars; it is rooted in ideas, expertise, influence, and an unshakable desire to build a better future,” Negash states.

In line with this vision, the African Diaspora Network (ADN), in collaboration with the U.S. Department of State, will host its tenth symposium- The Africa Diaspora Investment Symposium (ADIS2025), scheduled to take place from May 28 to 30 in Washington, D.C.

The theme for this year is: ‘Beyond Remittances: The Evolving Roles of Africans in the Diaspora Unlocking Transformational Investments.’

The symposium, tagged ‘#ADIS25’, will bring together global leaders, entrepreneurs, investors, and development practitioners to explore pathways for advancing Africa’s prosperity through innovation, investment, and collaboration.

The goal is to harness diaspora influence, from boardrooms to innovation labs, philanthropy to public policy, to drive transformative change both in Africa and in the communities where Africans reside.

Speakers at the event will explore topics such as equitable investment strategies, innovation in diaspora remittance channels, governance rooted in local empowerment, and bridging global and local ecosystems in health, education, and technology.

“ADIS25 is more than a conference; it is a convening space for co-creation and problem-solving. Attendees will have the opportunity to engage with peers, mentors, and partners in shaping actionable solutions for Africa’s future”.

“With a focus on unlocking generational wealth and scaling community-driven solutions, the symposium reflects the evolving and increasingly strategic role of the diaspora in Africa’s development”, Negash said.

The speakers confirmed for ADIS25 include:

British A. Robinson, chair of the Africa Initiative at the Milken Institute and a former private banker who now leads high-impact development programmes.

Osagie Imasogie, chairman of Quoin Advisors and a seasoned investor serving on boards managing assets exceeding $28 billion.

Jonathan Katende is, CEO and co-founder of Lipaworld, a fintech company simplifying remittances and digital finance for African diaspora communities.

Krsna Powell, lead advisor at Africa Practice, specialising in donor engagement, strategic partnerships, and impact investment.

To attend the event, participants need to register  here

Ngozi Ekugo

Ngozi Ekugo is a Senior Labour Market Analyst and Correspondent, specializing in the research and analysis of workplace dynamics, labour market trends, immigration reports, employment law and legal cases in general.

Her editorial work provides valuable insights for business owners, HR professionals, and the global workforce. She has garnered experience in the private sector in Lagos and has also had a brief stint at Goldman Sachs in the United Kingdom.

An alumna of Queens College, Lagos, Ngozi studied English at the University of Lagos, holds a Master’s degree in Management from the University of Hertfordshire and is an Associate Member of CIPM and Member of CMI, UK.

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