According to World Bank, there are over 30 million Africans in the Diaspora. In 2022, remittance to Africa was $45 billion a year. 

This is higher than humanitarian aids and Foreign Direct Investments.

These funds are sent to help family members to pay for school fees, buy medicines, food, start or expand a business, build homes…

Apart from money sent to diaspora home countries, the World Bank estimates that the Diaspora save around $53 billion annually in their banks outside the continent.

There are also many millions of people of African descent around the globe whose ancestors were involuntarily migrants connected to Africa.

The point is that apart from remittances, the African Diaspora can be a source of human and financial capital. They can contribute on trade and investment, transfer of skills and technology.

They can be a major source of development financing for roads, schools, hospitals, health centers, hotels, farms, industries…

African countries can implement these steps to attract the Diaspora :

• Dual Citizenship: Offer dual citizenship or relaxed residency requirements, enabling diaspora members to maintain stronger connections while participating in the country’s development.
• Policy Reforms: Implement policies that promote ease of doing business, reduce bureaucracy, and provide incentives such as tax breaks or customs duty exemptions for diaspora-led ventures.
• Public-Private Partnerships: Establish partnerships between governments, diaspora organizations, and private sector entities to jointly invest in development projects.