For the last two and a half years, Pangea has been focusing on the diaspora providing both training and business intelligence for diaspora investors and engaging the diaspora in the startups Pangea has invested in. The need to involve the diaspora in investing and supporting startup and SMEs is a continuous discussion that even shaped the conversations at the recent 2019 AfriLabs Gathering in Addis Ababa, Ethiopia.
At Pangea, we view this opportunity as having immense value that could spring board African startups and with good reason. Data shows that just in 2018, remittances from the diaspora reached US $48 billion not including informal money transfers and the figure has been increasing annually. Additionally, almost a third of the diaspora community are middle class with significant disposable income and possess a wide spectrum of knowledge and skills useful to the continent. So, there is a strong case for the need to build potential partnerships between the diaspora and the startup ecosystem. We are are currently engaged in designing an online investor platform for diaspora and collaborating with different partners including; AfriLabs, CIDO, African Union and SIDA
Learn more about why we should involve the diaspora on our Medium Blog post.