Diaspora Driven Development.
RemitFund is an award-winning non-profit that empowers Africans in the diaspora to build and invest in impact businesses that foster development in Africa.
We collaborate with African diaspora organisations and networks, money transfer operators and financial services providers to transform remittances into investments that work for the continent’s advancement in alignment with the UN Sustainable Development Goals.
Every year, diaspora communities collectively remit billions of dollars to their countries of origin to pay for basic needs, such as medical costs, housing and education.
According to the World Bank, remittances to Sub-Saharan Africa grew to $37.8 billion in 2017 and are forecast to hit around $39.2 billion in 2018 and $39.6 billion in 2019. Despite these considerable financial flows, youth unemployment averages over 50% across Africa.As a result, the continent is experiencing a “brain drain”, whereby increasing numbers of young men and women are looking for educational and employment opportunities abroad.
RemitFund gives the African diaspora an exciting opportunity to change this narrative by becoming protagonists and investors in the continent’s advancement, creating greater independence from foreign aid and empowering more indigenous, culturally-informed solutions.