Africans living outside of their country of origin who start business in Africa are typically highly qualified professionals.
Diaspora direct investment (DDI) describes businesses that are brought to and started in the country of origin by diasporans. While most diasporans often start their business in their country of origin, some go on to expand their operations in other African countries and even beyond.
Here is a list of some small- and medium-sized enterprises (SMEs) which were facilitated by diaspora direct investment (US-based African diaspora) – through African Diaspora Marketplace and which are promoting economic development in sub-Saharan Africa.
Green Acres Goat Farm (Ghana) is a commercial goat farm located on a 100-acre plot in Torgome, North Tongu near Akuse. The farm rears the Boer variety of goats from South Africa for the Ghanaian domestic market.
It sells breed stocks to farmers interested in starting their own herds or those interested in improving the breed of native stock. Their mission is to ‘meet the growing and unmet demand for goat meat and help fill the important gaps in Ghana’s protein consumption’.
AACE Foods is an indigenous Nigerian food processing company. They process, package and distribute West Africa’s fruits and vegetables.
Its product line consists of jams and spreads, baby food, and spices sourced from the best fruits and vegetables in the region. AACE has a mission to provide nutritious and tasty food made from the best of West Africa’s fruits and vegetables.
EarthWise Ferries is based in Uganda. It provides a safe, reliable and fast passenger ferry services on Lake Victoria, with destinations in Uganda, Kenya, and Tanzania.
Sproxil (Nigeria) provides targeted marketing solutions and consumer intelligence to companies.
It uses mobile technology to provide robust anti-counterfeiting and brand equity solutions to several large companies across ten industries.
The business model empowers community health nurses to own and grow a MicroClinic. MicroClinics International believes that empowering female nurse entrepreneurs will reduce the burden on government hospitals.
MedEnhanz (Nigeria) is dedicated to the development of healthcare professionals in Nigeria.
The healthcare information system and technology solutions provider provides accessible web-based and mobile application for point of care clinical reference database and continuing medical education.
Comprehensive Design Services (Nigeria) provides affordable housing through its design and engineering services for Passive House Protocols (PHP) – sustainable or green affordable houses.
NextGen Solar has operations in Tanzania, Kenya and Uganda. The company provides reliable and affordable electricity by buying PV solar plants reducing dependency on expensive fossil fuels especially in rural areas.
Africans living abroad are often concerned about barriers that can negatively affect their businesses in their country of origin. They often raise concerns about, government, financial capital, and infrastructure barriers.
Despite the challenges and risks of doing business in Africa, many diaspora entrepreneurs continue to take advantage of the opportunities which abound in the continent to start businesses in Africa.
Categories: Doing Business in Africa