Diaspora (Commonwealth Union) _ Although the African diaspora sends more than $100 billion in remittances to the continent annually, a growing movement is aiming to turn this financial lifeline into something far more powerful: transformational investment.
Almaz Negash, CEO and founder of the African Diaspora Network (ADN), is at the forefront of this vision. She and other experts argue that while remittances have long supported families, reduced poverty, and fueled local economies, their full potential lies in unlocking business creation, infrastructure development, and long-term economic sustainability.
According to the World Bank, remittance flows to low- and middle-income countries have outpaced foreign direct investment (FDI) and official development assistance (ODA), underscoring the critical role diaspora communities play in global development. In 2024 alone, Nigerian diasporans predominantly based in the United States and the United Kingdom sent $19.8 billion home.
However, beyond these massive cash inflows lies an even greater opportunity: converting personal remittances into strategic capital. This strategy involves fostering new financial instruments, diaspora bonds, investment incentives, and policy frameworks that can shift remittance behavior from short-term relief to long-term wealth generation.
Almaz Negash stresses that the true power of the diaspora is not just financial.
“Our commitment runs deeper than dollars,” she explains. “It is rooted in ideas, expertise, influence, and an unshakable desire to build a better future for Africa.”
In this light, governments across Africa are re-evaluating their remittance policies to encourage investment-led remittances. The momentum is bolstered by the emergence of initiatives, think tanks, and collaborative platforms dedicated to transitioning from remittance to investment.
Diaspora professionals have also been pivotal in bridging knowledge gaps, transferring critical skills in technology, healthcare, and finance. Others are launching transnational partnerships and businesses that generate jobs and elevate living standards in their home countries.
ADN: Catalyzing Connection and Capital
The African Diaspora Network has positioned itself as a leading connector between the diaspora and the continent. Through high-level convenings and ongoing dialogue, ADN provides a platform for ideas, partnerships, and investment strategies that transcend borders.
As part of its continued mission, ADN, in collaboration with the U.S. Department of State, is set to host the tenth annual Africa Diaspora Investment Symposium (ADIS2025) from May 28 to 30 in Washington, D.C.
This year’s theme, “Beyond Remittances: The Evolving Roles of Africans in the Diaspora Unlocking Transformational Investments,” captures the symposium’s bold ambition. Tagged #ADIS25, the event promises to bring together a diverse group of global leaders, social innovators, philanthropists, investors, and policymakers to redefine Africa’s development trajectory.
According to Negash,
“ADIS25 is more than a conference; it’s a co-creation space where real solutions are born. It reflects the evolving and increasingly strategic role of the diaspora in scaling community-driven change.”
Key topics to be explored at the symposium include
- Equitable investment models for diaspora capital
- Innovation in remittance infrastructure and digital finance
- Governance that fosters local empowerment
- Synergies between global and local ecosystems in health, education, and technology
The speaker lineup reflects the caliber of insight and influence ADIS25 aims to harness:
- British A. Robinson, Chair of the Africa Initiative at the Milken Institute, brings profound experience in finance and international development.
- Osagie Imasogie, chairman of Quoin Advisors, manages portfolios exceeding $28 billion and brings decades of investment acumen.
- Jonathan Katende, co-founder of Lipaworld, leads innovation in fintech and remittance solutions for the diaspora.
- Krsna Powell, Senior Advisor at Africa Practice, focuses on impact investing, donor engagement, and strategic partnerships.
ADIS2025, with its focus on unlocking generational wealth, fostering inclusive growth, and connecting global African influence to local African impact, is poised to expand the potential of diaspora investment.
As Negash and others believe, the future of Africa isn’t just shaped by foreign aid or traditional investment. It’s being forged by a global African community that is increasingly united by purpose, empowered by knowledge, and ready to lead Africa’s transformation from wherever they stand.
