”African leaders have made agriculture the priority sector for the continent’s economic development and growth, and have set a goal of increasing national productivity by 6 percent every year,”
Professor Mucavele, Chief Executive Officer,
New Partnership for Africa’s Development (NEPAD), June 2006

There is an increasing global attention on the Africans in Diaspora as their influence not only in terms of skills but their financial impact is now being acknowledged as an alternative source of funding for ailing economies in Africa. Remittances flows from Africans in Diaspora are on the increase, sometimes accounting for almost 25% of GDP of some African Countries. It is estimated globally at $200 billion - far more than official development and Foreign Direct Investments (FDI).

"Remittances to developing countries from overseas resident and non-resident workers are estimated to have increased by US $10 billion (8 percent) in 2004, reaching $126 billion," noted the report, this amount is very conservative as data on remittances is very hard to capture. [http://siteresources.worldbank.org/] For example, according to Western Union, Nigerians in the Diaspora remitted up to over USD$28b into Nigeria over the cousrse of 8 years., averaging over $3 billion annually whilst Ghanaians living abroad sent back US$ 800 million to the country more than Ghana earned from cocoa or gold. "

In its new report 'Global Development Finance 2005: Mobilizing Finance and Managing Vulnerability' the World Bank noted that "workers' remittances provide valuable financial resources to developing countries, particularly the poorest".

AfricaRecruit with a mandate to 'create an environment that will enable Diaspora Investment flows compliment traditional financial assistance to Africa' has been using the annual Africa Diaspora Investment Forum (ADIF) as a vehicle to drive forward this agenda.

This Africa Diaspora Investment Forum attracts participants from across the globe to lead discussions on business issues and developments as well as find ways in which the potentials of the African Diaspora can be further utilized for the positioning of Africa on a global stage.

The conference has an established a history of over 20 multi-industry corporate bodies including stock markets, real estate and numerous Small / Medium Enterprises. Attendance at the event has been rising steadily with over 2,000 investors from across Europe and North America as well a robust participation from Africa. As a direct results of an increasing number of Africans in the Diaspora have engaged in various investments in Africa estimated at over 1 billion US dollars. The feedback from both clients and investors points to significant increase of foreign direct investments.


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