IATP Fellow Musila Muoki from Liberty Sparks Kenya has argued in a new piece that significant untapped diaspora resources can help to address the continent’s shortage of capital available for investment.
Musila wrote:
“Remittances to Africa reached $104.8 billion in 2024, up from $11.4 billion in 2000, a nearly tenfold increase in a generation, growing at an average 9.7 percent a year. That makes diaspora money the continent’s single largest source of external finance, ahead of both official development assistance and foreign direct investment combined.
“While the diaspora is already showing up for motherland, the question, again, is whether our governments will build something worth investing in before asking anyone else to. More critically, are African governments ready to treat that capital as the strategic development asset it has already become.”
Read the full piece on Liberty Sparks’ website.
IATP Fellow Musila Muoki from Liberty Sparks Kenya has argued in a new piece that significant untapped diaspora resources can help to address the continent’s shortage of capital available for investment.
Musila wrote:
“Remittances to Africa reached $104.8 billion in 2024, up from $11.4 billion in 2000, a nearly tenfold increase in a generation, growing at an average 9.7 percent a year. That makes diaspora money the continent’s single largest source of external finance, ahead of both official development assistance and foreign direct investment combined.
“While the diaspora is already showing up for motherland, the question, again, is whether our governments will build something worth investing in before asking anyone else to. More critically, are African governments ready to treat that capital as the strategic development asset it has already become.”
Read the full piece on Liberty Sparks’ website.
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