Afrolituation x World Afrika Party sponsored by Amplify Africa

At the center of long-standing debate is whether emigration from Africa has caused the continent more harm than good. According to reports, more than 70,000 skilled people leave the continent annually yet foreign inflows to the continent from Diasporan remittances have grown exponentially in the last decade to reach more than $50 billion each year. Beyond remittances, research has also shown that continuous engagement with the Diaspora can accrue additional benefits to the continent through increased trade, investment and knowledge transfer. Moreover, the Diaspora is also believed to have played a major role in promoting the adoption of African music and shaping the narrative of Africa on the global stage. This panel will discuss how Africa can strengthen its ties with the large Diasporan community around the world and foster deeper connections for mutual benefit. Does every country need a “Beyond the Return" campaign like Ghana or are there other creative levers the continent can pull to better engage its Diasporan community?

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Although Entrepreneurship through Acquisition (ETA)— where entrepreneurs search for and acquire small, stable, cash-flow positive businesses with the intention to grow them over time—is becoming more popular, few “search funds” have been established in Africa. Indeed, there has been limited data to support the case for investing in African search funds and the benefits of this novel asset class. Still, ETA remains uniquely positioned to unlock value, find new talent, and accelerate the growth and development of SMEs—particularly family businesses—across the continent. This panel will focus on three key questions: (1) What makes Africa ripe for the growth of search funds? (2) How can the North American search fund model function on the continent? (3) What are the dynamics of operating and growing businesses under this model?

It is estimated that over $5 billion was invested across Africa in 2022 – the number of start-ups is growing quickly. As the ecosystem matures, the expectations are higher for founders in Africa. Join us for an intimate fireside with some of Africa’s leading start-up founders. We will delve deep into the highs and lows of being a founder – from building a world-class team, attracting customers, and fundraising, to maintaining self-care.

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