From 3-7 July 2023, ICMPD and the African Union Commission (AUC) organised a “Training of Trainers” (ToT) in Nairobi, Kenya, with participants from across the African continent to be certified as trainers for the AU Migration Governance Training Programme.
Countries
Morocco / Rwanda / Ghana / Gabon / South Africa
Status
Ongoing
Duration
November 2021
to
December 2022
Implementing Agency
ICMPD
Summary
The diaspora’s role in contributing to the development of their countries of origin is gaining increased, albeit insufficient, recognition. While their role in ‘doing development’ has grown, and the diaspora is increasingly seen as important development stakeholders, they are still not viewed as significant social investors by governments, the private sector, or indeed the diaspora themselves. This represents a missed opportunity for harnessing and seeking to scale up diaspora investments for socio-economic growth, especially given the gap in financing available to deliver on the Sustainable Development Goals (SDGs). The Citizens and Diaspora Organisations Directorate (CIDO) of the African Union Commission is committed to facilitating diaspora-led investment in their countries of origin, with a view to fostering local business growth and consequently to advance on national, regional and continental development goals. This is aligned with the priorities anchored in the Agenda 2063 of the African Union, as well as with corresponding efforts to achieve the objectives therein, including to implement the African Continent Free Trade Agreement (AfCFTA) and to boost employment through e.g. the African Union Development Agency-NEPAD’s 100,000 SMEs for 1 Million Jobs initiative.
Against this context, a study to determine the feasibility of an African Diaspora Investment Marketplace is being carried out within the framework of the AU-EU Continent-to-Continent Migration and Mobility Dialogue (C2CMMD), implemented within the wider EU-funded Migration and Mobility Dialogue (MMD) Support Programme. The study will aim to explore and identify the optimal way of implementing such a marketplace, and provide clear recommendations to this effect.
Against this context, a study to determine the feasibility of an African Diaspora Investment Marketplace is being carried out within the framework of the AU-EU Continent-to-Continent Migration and Mobility Dialogue (C2CMMD), implemented within the wider EU-funded Migration and Mobility Dialogue (MMD) Support Programme. The study will aim to explore and identify the optimal way of implementing such a marketplace, and provide clear recommendations to this effect.
Objective
The core objective of a diaspora investment marketplace will be to grow diaspora investment into Africa, in areas/sectors with potential for investment and growth, that would contribute to the achievement of the African Union’s development objectives, including employment creation, increased trade as well as meaningful engagement of diaspora. To precisely identify the specific components required to create a successful marketplace, the experts will be highly driven by the feedback from the key stakeholder within the initial target markets within Africa.
For more information please contact the ADIM team.
Experts
- Eric Guichard: Specific experience in conducting feasibility studies and projects to unlock diaspora engagements and investments and experience in diaspora remittance investment. He also has worked with the ICMPD in the past and with others like the World Bank and UN on Diaspora Engagement. He is currently the CEO of Orango Investment. He himself is a member of the African Diaspora who has passionately championed the role of diaspora in the African economic development.
- Diane Henry Lepart: An experienced senior finance executive, and current VC Board Advisor and Venture Builder, who developed her Global Asset Management expertise at Lazard. Further, she has advised on development projects in various African countries, held specific leadership roles on UK and international political campaigns, and executed complex business advisory mandates. She is also a UK cultural ambassador - a past and current Board Member and Audit Committee Chair, of several of the UK's leading arts organisations. Diane is also a member of the African Diaspora.
- Sid Mofya: An investment expert and executive director of the Draper Network, the world's leading network of top-tier VCs. In his current role, he is responsible for building and developing the investment ecosystem. He too is a member of the diaspora who is highly engaged in the African Diaspora Network in the US and has already been trying to effect change on the ground in a similar vein to this project.
- Eeswaran Navaratnam: An investor who has been a GP in venture capital for over 5 years, with further experience investing in other asset classes. He has actively played a part in the European tech ecosystems, most notably in the UK & the Nordics. He is a part of the Tamil diaspora himself and has supported activities to promote entrepreneurship in Northern Sri Lanka and South India.
- Chris Haley: An investor who has been a GP in venture capital for over 5 years, with further experience in asset management. He was a management consultant for over a decade advising senior executives globally on strategic issues. In the London entrepreneurship ecosystem, he is an active advocate promoting underrepresented founders.
- Anthony David King: A prominent international entrepreneurship ecosystem builder and the founder of AD:K. He has extensive experience working with corporates, governments, and banks developing support, training and investment programmes to build and grow SMEs. He has an impeccable track record of creating numerous accelerator programmes across the world that continue to thrive today. Anthony is also a member of the African Diaspora himself.