Why More African Diasporas Need To Invest In Their Home Countries

 African diasporas have dispelled the demeaning myth the African continent has been known for in the best ways possible; through their successes in education, health, business, etc., outside their home countries. Their connection with their countries of origin instigated the tons of investments they made back home, making diaspora Africans major foreign investors in the continent. 

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As far as Africa is concerned, the diasporas remain the key contributors to economic development in most African states. The returnee diasporans are painted as conduits of skills and knowledge transfer in the continent in recent times.

The more globalized the world becomes, the more inter-connected African diasporans become, easing the transfer of knowledge to their counterparts and sharing ideas amongst themselves to facilitate the continent’s development.

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The diasporan population has increased strangely that by and large, the remittances they send to their home countries have transcended foreign aid streaming in the continent.

These remittance inflows, as perceived to have augmented the circulation of money, abetted the conspicuous consumption in the continent, which virtually increased production in most countries and also helped the government to instigate infrastructural projects duly needed in the continent.

Other than the remittances, the diasporans are the main facilitators of foreign direct investment, the creation of local enterprises, etc., which improves their home countries’ business environment.

Knowing that the diasporans’ tad contribution has helped revitalize the continent’s economic status, it’s of primal importance that more African diasporas knit their efforts together and invest in their home countries for more improvement.

This article explains why the diasporas should invest more in their home countries.

Adopting and incorporating certain cultures, ideas, and beliefs is generally how different states become civilized and improve, and the diasporans have been outside their home countries where they have learned things, gained mastery of things they can introduce, or rather invent in Africa for development.

Having procured some degree of knowledge and specialization in different areas, the diasporans are expected to invest this mastery and knowledge obtained overseas in Africa. That way series of development and improvement will be made. The diasporans should play a major role in modernizing the African continent.

Check out also this article – How African Brain Drain Can Be Turned Into Brain Gain

The Lucid ways to modernize the continent include but are not limited to introducing the newest technologies in different sectors like the health sector, education, and manufacturing industries. We are in the era where technology can solve almost, if not all, things concerning the production of goods, and most African countries partake mainly in primary production due to a lack of machines to facilitate secondary production.

African diasporas are deemed more sentimental than non-diasporans due to the cultures and beliefs imbibed in them before migrating to their resident countries in the quest for prosperity elements.

Given their sentimental nature, the diasporans already know where they ought to channel their investing strengths for the general benefit of all.

Notably, the diasporans’ sentimental nature impedes them from being profit-oriented when making investments rather; they would be more interested in carrying out their investment ploy to improve the sorry states of their communities at large. Contrarily, non-diasporans are usually bent on the benefits they would reap when they make their investments.

Africa’s poor health care facilities are no longer a novelty to us all. The mortality rate in Sub-Saharan Africa per year exceeds one thousand people, which poor health care contributes to a large extent.

Given the sizeable number of infirm people on the continent, there is an alarming need to import good healthcare facilities that will aid medical experts to help save lives all, in the continent. Hence, the diasporans should shoulder this need by investing in acquiring good facilities in their resident countries to their home countries.

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Furthermore, the diasporans need to invest in elevating the educational system in the continent. Most African countries’ educational system has lapsed and this has egged on some citizens to migrate from their country to other places where they will procure quality education.

To improve this denigrating educational system in the continent, the diasporans should begin by funding students who can’t further their education, providing advanced educational facilities, and remunerating academicians.

In addition, the diasporans need to invest in their home countries to help improve the market conditions at home to attract non-diasporan investors; more so, to create trade ties between their home countries and resident countries.

In a nutshell, the African diaspora has greater roles to play in order to induce development in the continent; and the role starts from investing ferociously in areas that need urgent attention, like the educational and medical fields, to mention a few.

Download the first chapter of The Storytelling Series: Beginners’ Guide for Small Businesses & Content Creators by Obehi Ewanfoh.