Venture Capital and Studios

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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As part of the conference, the Africa Business Club will be hosting the New Venture Competition which seeks to showcase the diversity of entrepreneurs making a difference on the continent today.

From the pool of over 380 applications, 10 finalists were  invited to pitch their business in front of over 1,000 attendees and receive feedback from a panel of experienced judges. The competition winner and runner-up, and third place will be awarded cash prizes of $30,000, 15,000, and $10,000, respectively.

According to the World Bank “Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs, delivered in a responsible and sustainable way”. Current estimates show about ~55% of Africa’s population is unbanked and ~40% are living in poverty. Fortunately, novel financial technologies and innovative banking systems have begun to revolutionize this dynamic in recent times. This panel will explore three main themes: 1) What does financial inclusion mean in Africa, who exactly has been excluded historically and why is it important to bring them in? 2) What is the responsibility of industry participants to drive financial inclusion and help lift the continent out of poverty? 3) What does the future of Financial Inclusion in Africa look like?