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Browsing: African Diaspora Network (ADN)
- Kenya is among the top three countries receiving the most international remittances across sub-Saharan Africa, after Nigeria and Ghana. Overall, the US, Saudi Arabia and UK account for nearly three-quarters of total annual inflows into Kenya.
- Kenyans living abroad sent home $357 million in March 2023, a 15.5 percent increase compared to February.
- As a whole remittances from the African diaspora are estimated at $95.6 billion annually, making it a key foreign exchange earner.
Diaspora remittances have risen to become Kenya’s largest foreign exchange earner, surpassing the country’s key exports such as tourism, tea, coffee and horticulture. According to Central Bank of Kenya (CBK) data, diaspora remittances rose by 8.34 percent to $4.027 billion in 2022. In the same period under review, tea exports earned the country $1.2 billion, horticulture $901 million, chemicals $521 million, coffee $301 million and petroleum products $77 million. The widening disparity highlights the crucial role …
The African Diaspora Network (ADN) has been instrumental in not only offering a platform for dialogue, action and innovation but also driving investment opportunities in the continent, pertinently through their flagship symposium. The African Diaspora Investment Symposium (ADIS), fosters the entrepreneurial and innovative spirit of Africans in the diaspora together with their champions. The event has been for the past seven years since inception, a catalyst for diaspora-driven initiatives and investment with the potential to shape the continent’s future as well as a platform to control the narrative about Africa. For the 2022 event, the Network seeks to bring the global community together to Silicon Valley; it has been hailed as the premium convening of the African investment ecosystem in Silicon Valley.
Since January, the Network has been running online forums, addressing thematic concerns and the pivotal role that the diasporan community can play in solving and sealing gaping deficits. …