African Diaspora Network intentionally engages diasporans and friends of Africa to move beyond remittances toward sustainable investment for the betterment of the African continent. In order to advance this cause, ADN informs, engages, and activates our global community through a series of Impact & Innovation Forums. Join us as we increase awareness, engagement, and action among Africans, African diasporans, and friends of Africa.
Africans living outside of Africa have a significant impact on the continent through the personal remittances they send. In fact, these remittances are much larger than foreign direct investment and foreign aid. In 2023, the African Diaspora sent $90.2 billion (World Bank – KNOMAD, 2023) and this past year, remittances exceeded $100 billion according to the Global Forum on Remittances, Investment and Development. This amount far surpasses the $12.1 billion in foreign assistance from the U.S. Agency for International Development (USAID) and the $59.7 billion from the Office of Development Assistance (ODA) to the continent.
Diasporans represent a powerful constituency in the economic development of Africa and the U.S. African immigrants in the United States. Remittance flows to Africa reached $90.2 billion in 2023. In some African countries, remittances represent over 20 percent of Gross Domestic Product (GDP), highlighting their importance to the economy. The International Fund for Agricultural Development estimates that about 75 per cent of remittances are used to put food on the table and cover medical expenses, school fees or housing expenses.The remaining is either saved or invested in assets or activities that generate income and jobs.
Africa remains the region with the highest remittance costs. Senders had to pay an average of 7.9 percent to send $200 to African countries during 2023, compared with 7.4 percent in 2022. Additionally, while Remittances are helpful for individual families, and this is important for day to day lives, it does not reflect how well the country is doing as a whole.
The African diaspora can go Beyond Remittances through:
May 28-10 2025
Washington D.C
.
The African Diaspora Investment Symposium 2025 (ADIS25) Hosted by the African Diaspora Network and U.S. Department of State.
September 2023
New York City
.
June 14-16, 2023
Nairobi, Kenya
.
Promoted by the United Nations.
April 27-28, 2023
Philadelphia, PA
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Hosted by the Lauder Institute University of Pennsylvania.
April 13, 2023
Oxford, UK
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Skoll World Forum Marmalade Festival 2023.
March 23, 2023
Silicon Valley, CA
.
African Diaspora Investment Symposium (ADIS23)
December 13, 2022
Washington D.C.
.
Part of the U.S. Africa Leaders Summit 2022 Hosted by the African Diaspora Network and U.S. Department of State
September 22, 2022
New York City
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Innovative Approaches To Integrate The Diaspora In Accelerating Africa’s Economic Recovery Post Covid-19
