ZADIFO secures partnership to support Zambian diaspora investments
There is no doubt that the African Diaspora including Zambian contributes significantly to the economies of the countries in Africa. The huge resource potential of the Zambia diaspora if effectively harnessed can have significant contribution to the GDP and the achievement of the vision 2030. There are however a number of challenges that currently hinder to attract the diaspora participation that includes lack of opportunities as well as enabling environment at country level that may provide or facilitate diaspora involvement in the economic mainstream of the country. The Foundation explores and works with the private sector local and abroad to identify potential areas for Zambian diaspora investment options and sources of finance. One of the key elements identified is to put in place strategies and services that promote diaspora participation in the investment and financial sector.
Over the last few months, Zambia Diaspora Foundation have been exploring investment opportuntnties and sources of finance that can attract diaspora involvement. The foundation has been having conversations with the private sector on how we can introduce investment products and services that facilitate diaspora investment participation.
The Foundation is excited to announce that it has entered into partnership with an international bank located in Zambia and a private international financial intermediary in the UK to support the implementation of the Diaspora Investment initiatives in the country. The initiative will initially operate as a pilot and will later be expanded over a long period. Zambian Diaspora Foundation will facilitate a long-term collaboration between the two institutions based on their similar and complementary interest and capacities, and reflect their willingness to work together to offer the diaspora options to access financial investment products and services that will include implementation of innovative diaspora remittance and financial services/investment transactions.
The Diaspora Foundation in partnership with a UK based financial providers will offer the Zambian Diaspora with opportuntnties to propose projects within an estimated US$300,000,000 worth of investment funding. Though the investment funding is mainly directed to the Diaspora, local entrepreneurs will be encouraged to participate within the proposed financing initiative.
By Media Support
Zambian Diaspora Foundation