Our key insights from African diaspora roundtable II
We had yet another fantastic online event where around 40 people were based in different countries with heritage from seven different African countries. If you missed the first newsletter here is a recap on why we believe it’s important to involve the African diaspora in such an early stage. The end goal of this project is to build a diaspora fundraising platform that enables the African diaspora to make an investment in susitanable startups based in the African market.
In 2020, the estimated value of disclosed funding in Africa was at least $1.07 billion. The report “Africa’s investment report 2020” by Briter Bridges shows that aside from a promising growing number of early-stage focused venture capital funds and investors there are more opportunities to be involved and boost the startup scene.
Here are some key insights from our two roundtable discussions. First of all, there is no doubt that the engagement and interest among the diaspora are there. But our survey and roundtables discussions also show that it is confusing about the wording of what the diaspora actually means and what our role in the economic future opportunities is.
We can also see that there more than 70% of the attendees believe they have a strong connection to the continent and at the same 50% rate themself as confident while the other half as insecure.
The discussions also show that a high percentage of the attendees consider themselves to have money to invest and see themselves more as an investor than a donor. We can also see that there are different approaches to the remittance behavior connecting to when you got engaged to the country you are recently based in.
A strong indicator of a willingness to invest is also clear since 88 % of the attendees answered they have considered investing in an African country. The last insight that caught our attention is that most of the participants see themselves having none too little information about investing in general but if they would invest the top winner is to invest in improved technologies solutions to facilitate investment deals (e.g. platforms connecting entrepreneurs with investors). We continue to do our research and involving the African diaspora as a part of reshaping African success.
If you are interested to be part of any event and contribute your knowledge and opinions please don’t hesitate to reach out to firstname.lastname@example.org