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8 MESSAGE FROM THE UNITED NATIONS FUND Message to Africa Diaspora Investment Forum Distinguished guests, ladies and gentlemen, all too often the international community has put an emphasis on aid for Africa with limited focus on investments. While most international organizations have adopted a renewed spotlight on assisting Africa in this area, the best news is that people now are thinking of investing in Africa. Currently, only $15 billion out of a total of 572.8 billion of the world s Foreign Direct Investment goes to Africa. This is a mere 2.6%. W e are thrilled to see that the Africa Diaspora Forum is aiming to attract new capital to the continent. The Diaspora community remains a key leadership component for Africa. The United Nations believe there is much benefit in using the expertise and resources of ex patriots to strengthen native economies. The African Diaspora can be a source of much needed capital to revitalize the economies of the continent. In 2003 we launched the Africa Diaspora with the benefit of the expertise and experience of the industry entrepreneurs, the organization set up by the Indian Diaspora in Silicon Valley. W e would like to thank the organizers, especially the African Business Roundtable, NEPAD, Nigeria Stock Exchange, BenTV and AfricaRecruit for their leadership in focusing on this important issue and wish them much success. I look forward to following the outcome. Here at the United Nations we have just concluded the historic 2005 World Summit which brought together leaders form 191 countries and I am pleased to report that amongst the various declarations one strong theme was Africa. Thank you. Mr. Amir A. Dossal, Executive Director United Nations Fund for International Partnerships Africa Diaspora Investment Forum
S U R VEY ON DIASPORA R E M I T TANCES - INVESTMENT It is estimated that the annual investment into Africa by the Diaspora can be as much as US$ 450 million and this figure excludes the estimated US$ 12 billion remittances sent by the Diaspora annually. AfricaRecruit conducted a survey of on Diaspora remittances and investment as part of the preparation for the Africa Diaspora Investment 2005 that pointed to a potential investment flow of over 1.5billion US dollars annually into Africa by the Diaspora a massive increase of 20% f rom a similar study conducted last year. The survey of 769 Diaspora respondents revealed that over two thirds of the Diaspora remit money home for personal/family reasons with 32% of the respondents sending on average US$300 a month. 27% of the 769 respondents indicated that they remit for investment purposes with approximately half of the remitters that send money home for personal/family reasons also indicating that they remit for investment purposes. Over 40% of the Diaspora investors indicated an annual investment of over US$ 3,600. This increase is a reflection of the incre a s i n g investment by the Diaspora Africa Diaspora Investment Forum 9
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improving the life chances of these
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Taroon Japal I am IT graduate from
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Corporate organizations especially
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The International Marketing Council
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