Diaspora Initiative Looks To Tap Into $1.7trn African-American Purse – The Africa Report.com

‘answering the call’

By Julian Pecquet, in Washington

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Posted on October 18, 2023 15:26

Olivier Kamanzi, Kendrall Felder and Larry Yon (left to right) launch the first in a series of African Diaspora and Friends of Africa investment summits at the Embassy of South Africa in Washington, DC on 17 October, 2023 / photo by Jati Lindsay

Southern Africa is the target market for the first in a series of “African Diaspora and Friends of Africa Investment Summits.

African American buying power could reach $1.7trn by 2030, projects the McKinsey Institute for Black Economic Mobility, but only a tiny fraction of it is currently ending up in Africa.

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