- Professor Kevin Chika Urama (African Development Bank) brought a unique perspective to the discussion, focusing on the role of diaspora investments in strengthening Africa’s economic fabric. He particularly emphasized innovative tools such as diaspora bonds and securitized remittances. His insights highlighted the importance of scaling these efforts to reach broader sectors of the economy, particularly youth and women-led enterprises.
- Thomas Debass (U.S. Department of State) emphasized the need for reliable platforms that connect diaspora investors with impactful projects. His stress on the importance of partnerships that provide clear metrics for measuring success and ensuring accountability in diaspora-led initiatives instilled a sense of security and confidence in the audience’s investment decisions.
- Thelma Ekiyor (Nigeria Philanthropy Office) shared insights on the importance of democratizing investment opportunities for the diaspora, making it easier for individuals to contribute to impactful projects with lower financial thresholds. Her emphasis on inclusivity and the potential of catalytic philanthropy and social entrepreneurship in driving large-scale change made the audience feel included and part of the change.
- Call to Action: The panelists didn’t just suggest; they urged the diaspora to engage in scalable, long-term investments in Africa. They stressed the need to shift focus from short-term remittances to structured financial tools that can uplift entire communities. Attendees were not just encouraged; they were implored to explore collaborative investment opportunities and align their efforts with Africa’s strategic goals for socio-economic growth.
- Pops Mensah-Bonsu (SEED Academy Ghana) shared his journey of using basketball to empower youth in Ghana. He outlined his vision of building infrastructure beyond sports to provide educational opportunities, workforce readiness, and leadership development. His work in Kumasi, Ghana, highlighted the transformative potential of investing in community-driven projects.
- Precious Achiuwa (WHAT IF UNLIMITED) spoke passionately about his commitment to creating opportunities for underprivileged youth in Nigeria. He shared personal stories about the profound impact of mentorship and youth programs on the communities he supports. His vision is to continue expanding these efforts, focusing on long-term social impact.
- Afrofuturism and the Diaspora’s Role: The panel emphasized how Afrofuturism allows the African diaspora to redefine Africa’s narrative, using sports and entertainment as platforms for growth. They called for more support from diaspora organizations like ADN to drive sustainable change, highlighting the need for ethical and impactful investments aligned with Africa’s future.
Notable Quotes:
Diaspora investments must evolve beyond remittances. Africa’s future depends on strategic, scalable investments that empower our youth and women.
Sports is more than just entertainment – it’s a tool for societal change. Through sports, we can reshape Africa’s narrative and create opportunities for the next generation.
Remittances actually have become one of the most resilient and sustained source of public finance, but it is for consumption smoothing. Because it is for consumption smoothing, it's not an investment, so it doesn't yield returns. And at some point, you, as the emitter, get fatigued. If it was an investment that actually helps create social business in countries across the continent, we do good and do well at the same time.So it brings in the sustainability aspect
Someone wants to invest in Africa, what would I tell them? First, you're smart. Because smart investors, and I mean this, smart investors invest in developing countries, and Africa is the next, the current, not even next, the current growth pool of the world. Think about the demography. Think about the ACFTA that is creating about a $3.5 billion market. Think about the growth in entrepreneurship everywhere across the continent. The ecosystem is just working for smart investors. So if you're smart, invest in Africa.
Having been in the diaspora myself and half living in the UK, one thing is clear, the diaspora has learned standards. Living in the US living in the UK, there's a certain standard that you've gotten accustomed to, and they don't forget about those standards when they now want to invest Africa, they insist on standards, and I'm happy that they do, because it makes it easier to tell the government no one is going to come and invest if they don't have security for their money, if the mechanism for doing business is not simplified
What I say to people is admit the challenges in Africa, the perceptions, but amplify the opportunities, and don't create a lower standard for Africa. Insist on the same standards that we have in the West, we can have them in Africa
DDI (Diaspora Direct Investestment) is uniquely positioned. I remember during the Obama era refunded projects, we provided the grantees for three different banks to provide investment for ethiopian diaspora and different American diaspora who were there, because we're able to connect the risk profile from less credit agency so the banks on the ground can have access to the credit ordinance at these institutions. We were oversubscribed with, like, a $15 million facility less than a year. It was almost subscribed from that perspective. So we made the case that DDI is real and what have you
Looking at Africa's popular growth in the next 10 to 15 years, Africa's population is going to be the largest and youngest on the planet. Now, when you look at that, that could either be a problem or opportunity, and we'll see it as an opportunity. But we have to make sure we're taking the necessary steps to empower and give these tools to become the leaders of tomorrow
We're building an arena in Kumasi, Ghana That's a foundational phase to a smart city. For the longest, Africa has always been looked at as a place that's always in need, and I always say Africa's greatest assets are its people and so we have to invest in the people. So with this infrastructure that we're building, we understand that in an arena in place, there comes a multiplier effect
In this path of raising capital and interest in Africa every time. Most of the time, we meet with people. They often talk about risk, and that is too risky to invest in Africa. It's too risky. And you're all asked for collateral… where there's a problem, there's always a solution. So instead of seeing the risk, let's see, let's see the solutions that we can put in place.
I think Africa is so beautiful, and it's been looked at as a place that, almost like we're hanging at the bottom and we're reaching up for somebody to drop something, you know, to Africa. Meanwhile, I think Africa is very self sustainable, we're rich, we're beautiful. We have, if not, everything that we need. We have almost everything we need to get it all, you know.
The reason partnership was important is because these kids, they look at the media on the American side, you know, they see what happens on this side. And for us to be able to bring the infrastructure and the structure to Africa, we need partnership, not just not just on the monetary side, but the physical presence. Let's say, for example, the NBA holds NBA Africa, the New York Knicks displaying The Brooklyn Nets in Ghana. You understand that alone, just that partnership with Africa alone, creates so much visibility, visibility of the game of basketball, but not just on that. It creates a different type of mindset. Remember, these kids, there's hope, like there's got to be constant dreaming.
Next steps
- Engage with Diaspora Bonds and Giving Circles: Attendees were encouraged to explore innovative investment vehicles that maximize diaspora contributions to Africa’s long-term growth.
- Collaborate on Afrofuturism Initiatives: ADN will continue to champion Afrofuturism as a framework for collective diaspora action, organizing follow-up events to maintain momentum.
- Support Youth and Women-Led Enterprises: The event reinforced the importance of prioritizing investments in youth and women as key drivers of sustainable development.
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