Africans In Diaspora Have Invested $40Bn Into Africa's Economy

Thirty million Africans across the globe have directly invested $40 billion into the continent economy in 2010 According to a survey carried by African Development Bank and the World Bank recently, Africans investment ranged from land purchases, building a home, and starting a business top the highest remittances by Africans in diaspora whilst education was the second-highest use of remittances from outside Africa into Nigeria and Uganda; the third highest into Burkina Faso, and the fourth highest into Kenya.


Report on African countries remittances, skills and Investments are jointly carried out by the African Development Bank and the World Bank as part of the Africa Migration Project.

The project has the financial support of the African Development Bank; the Canadian International Development Agency (CIDA); the Department of International Development (DFID); the French Ministry of Immigration, Integration, Asylum and Solidarity Development; the Danish Ministry of Foreign Affairs; the International Fund for Agricultural Development (IFAD); and the Swedish International Development Cooperation Agency (SIDA).

A breakdown of the$40billion investment showed that Nigerians in diaspora invested 57 percent; 55 percent in Kenya; 36 percent in Burkina Faso; 20 percent in Uganda and Senegal, 15 percent.

Source