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The evolving Role of Africans in the Diaspora In Unlocking Transformation Investment
The African Diaspora Network (ADN) intentionally engages Africans, African diasporans, and friends of Africa to move beyond remittances toward long-term, sustainable investment for the betterment of the African continent. Since 2010, ADN has convened entrepreneurs, philanthropists, investors, and allies to mobilize intellectual, social, and financial capital to advance Africa and our shared communities in the U.S.
Our Beyond Remittances, one of our priority areas,builds on this foundation by reframing the role of remittances, not just as a lifeline for families, but as a powerful catalyst for systemic change and economic development. Through a series of Impact & Innovation Forums and strategic convenings, we inform, engage, and activate a global community committed to unlocking new forms of capital, strengthening trade and innovation ties, and creating opportunities for diaspora expertise to shape the future.
Why Beyond Remittances Matters
African Diaspora Network
Gates Foundation
United Nations
Global Diaspora Insights
African Development Bank
International Fund for Agricultural Development
Africans living outside of Africa have a significant impact on the continent through the personal remittances they send. Remittances from the African Diaspora to Africa are substantial, exceeding $100 billion in 2024. This amount dwarfs both foreign direct investment and aid, including the $12.1 billion from the U.S. Agency for International Development (USAID) and the $59.7 billion from the Office of Development Assistance (ODA) to the continent. African Diaspora Network (ADN) intentionally engages diasporans and friends of Africa to move beyond remittances toward sustainable investment for the betterment of the African continent. Beyond Remittances started as an initiative but is now an integral part of ADN’s strategy. In order to advance this cause, ADN informs, engages, and activates our global community through a series of Impact & Innovation Forums. ADN also elevates and supports the work that African diasporans are doing to enable investments and philanthropy for sustainable development and transformational impact.
Remittances to Africa are vital, often surpassing foreign direct investment. In 2023, remittances totalled $90.2 billion. For countries like Lesotho, The Gambia, and Comoros, remittances can exceed 20% of their GDP.
Remittances to Africa are mainly used for necessities, but are costly to send. While they support families, they don’t reflect a country’s economic health
The African Diaspora can boost African development through investments, skills training, philanthropy, infrastructure, tourism and cultural consumption.
The African Diaspora Network promotes investment in Africa by providing entrepreneurship training and networking, supporting philanthropy and impact investing, sharing knowledge, building partnerships, and by advocating for policies that support economic development.
Historically, aid has shaped the economic landscape of Africa, yet the growing remittances flows provides an unprecedented opportunity-and responsibility – to rethink our approach.