Why African diaspora is attracting new attention

• Expatriate Africans represent growing market for all kinds of specialised services

Of interest to East Africa is a new ferry service between Mwanza, Tanzania, Entebbe, Uganda and Kisumu in Kenya. A manager with EarthWise Ventures, the winning firm behind the investment, told Sunday Nation that the first ferry will set sail on May 1.

Empowerment

“We are excited to move forward and see these plans come to fruition and foster economic development in sub-Saharan Africa,” said Western Union’s Anne McCarthy, executive vice-president of corporate affairs whose firm has been implementing an economic empowerment programme called “our world, our family”.

But while the economic impact of the diaspora has been readily acknowledged, there has been little effort to tap the potential in Kenya despite well-publicised pledges. However, in Egypt and Ethiopia, elaborate systems are in place.

Ethiopia, for instance offers 70 per cent financing for projects by diaspora members, a factor that has spurred heavy investment, especially in horticulture. With an estimated 1.5 million population, the Ethiopian diaspora sends Sh75 billion home.