At the 2025 World Bank Spring Meetings in Washington, D.C., African Business Stories (ABS) convened a significant edition of its Roundtable Series, focused on the strategic mobilisation of diaspora capital for Africa’s economic transformation. The event, entitled Leveraging Diaspora Investment for Africa’s Economic Growth, brought together preeminent leaders in global finance, development, and entrepreneurship, with World Trade Organization (WTO) Director-General Dr Ngozi Okonjo-Iweala delivering the headline fireside conversation.
Since its inception in September 2024 on the margins of the United Nations General Assembly (UNGA) in New York, the ABS Roundtable Series has established itself as a catalytic platform for tackling structural barriers impeding African business growth. The initiative notably targets the $42 billion financing deficit facing women-owned enterprises across Africa, and seeks to galvanise strategic investment to foster inclusive and sustainable growth.
Hosted at the Washington offices of Akin Gump Strauss Hauer & Feld LLP, this third iteration of the Roundtable was made possible through the support of Akin LLP, Bank of America, and Moneda Invest Africa. Their involvement underscores a collective commitment to deploying innovative capital vehicles and reinforcing Africa’s investment infrastructure. Bank of America’s active participation further reflects its broader strategy of promoting financial inclusion and entrepreneurship across emerging African economies.
The opening keynote was delivered by President Admassu Tadesse, Group President and Managing Director of the Trade and Development Bank, alongside Mrs Zainab Ahmed, Executive Director at the World Bank and former Nigerian Minister of Finance. Both leaders issued a compelling call for African institutions to transition from aid dependence to investment-led development models, with an emphasis on regulatory reform and investment readiness.
A panel discussion followed, moderated by Kenechi Eze of Moneda Invest, and included distinguished voices such as Joan Manda (UNDP Timbuktoo Initiative), Barbara Iyayi (Unicorn Growth Capital), and Chidi Blyden (Culturally Bound). The dialogue explored mechanisms to foster trust between African SMEs and the diaspora investor community, as well as innovative approaches to scale the continent’s 44 million small and medium-sized enterprises (SMEs) into viable investment assets.
The culminating moment was a candid fireside chat with Dr Ngozi Okonjo-Iweala, moderated by Ms Yvonne Ike, Managing Director and Head of Sub-Saharan Africa (excluding RSA) at Bank of America. Addressing a diverse audience of investors, policymakers, and entrepreneurs, Dr Okonjo-Iweala articulated a clear vision: the future of Africa lies not in the perpetuation of aid dependency, but in value creation, institution-building, and strategic resource utilisation.
“Africa’s opportunity lies not in aid — but in adding value, building trust, and using our resources wisely,” she asserted, urging a recalibration of how Africa negotiates its place in global value chains. She pointed particularly to the continent’s wealth of critical minerals as a potential catalyst for industrialisation, cautioning against the continued export of raw materials without local value addition.
Dr Okonjo-Iweala also reflected on the implications of global macroeconomic shifts — including diminishing aid budgets and persistent trade disruptions — and underscored the urgency of transparent governance, intra-African cooperation, and the creation of credible financial instruments to attract both diaspora and global investors.
Her message to entrepreneurs and diaspora actors was unequivocal: “Even solving one problem or building one enterprise can have ripple effects across the continent. Everyone has a role to play in building Africa’s future.”
Ms Yvonne Ike echoed this sentiment, noting that such convenings are critical for deepening trust and unlocking the vast entrepreneurial capacity dispersed across Africa and its global diaspora. “It was an honour to join this important dialogue and help shape conversations that will drive long-term impact,” she said.
The event concluded with a collective commitment among stakeholders to advance mechanisms that channel diaspora investment into scalable SMEs, enhance transparency in capital flows, and reinforce Africa’s global economic agency.
Akaego Okoye, Founder of African Business Stories and architect of the Roundtable Series, reflected on the broader implications of the initiative: “Diaspora investment is not just about capital; it’s about building ecosystems and reshaping Africa’s economic narrative. We are proud to create a platform where action-oriented conversations drive real change.”
To explore partnership opportunities or gain further insights into the ABS Roundtable Series, interested parties are encouraged to visit African Business Stories or contact info@africanbusinessstories.com.
