Transcript Achieving the balance - Welcome to FindaJobinAfrica

Regional Consultation on
Londoner’s contribution to
International Development
7th March 2005
Dr Banjoko Africa Recruit
The African community in the Diaspora has a major role to play in
the new task of transformation, reconstruction and regeneration.
Their experience, values, knowledge and creativity are very much
required to join with home-based efforts to ensure the overall
improvement in the African condition. Rebuilding Africa is a
collective challenge.- President Olusegun Obasanjo
The African Union, New Partnership for
Africa’s Development (NEPAD) and individual
African governments are all exploring ways of
harnessing the African Diaspora. Rather than
looking at the negative aspects of capital flight
the emphasis is how to capture the benefits.
Estimated number of Black Africans in London – 378933
(Census 2001)
London is a city of great ethnic diversity. More than one in
three of London's residents belong to an ethnic minority
group.
Nearly quarter of a million Londoners were born in Africa.
One in three Black Africans were born within the UK
The Black African group is set to grow the fastest, almost
doubling in size between 1991 and 2011.
The Diaspora merit increasing attention, they are a source of investment
funding, expertise and a confidence building measure of great importance.
HUMAN CAPITAL
FINANCIAL CAPITAL
Others-political- lobby/pressure groups and
social – community development
African Diaspora- One of
Africa’s greatest offshore asset
Investment:
Remittances
Business
African countries are becoming more heavily reliant on the
stable foreign direct investment and the increasing
remittances from its indigenous population abroad as a
source of finance. In 2002 formal remittances to Africa
accounted for 15% ($12bn) of the total remittances to the
developing countries ($80bn).
Tourism
Nostalgic
products/
services
Massive contributions in areas such as telecommunications
(telephone calls); flights; food products, films and many
other services
Financial Capital-
increasing number of Africans in the
Diaspora are engaged financially with Africa either at micro-macro
level
Percentage breakdown
Average amount sent home per month US dollars
30
25
20
15
10
5
0
under 300
dollars a month
300-500
600-1000
Amount per month
over 1000
452 Londoners registered at Africa Diaspora Investment areas
of interest
Source of employment
40%
30%
20%
10%
0%
Community
or Social
Capital
Markets
Real Estate Setting up
Business
Others
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Percentage of CV's
Human Capital breakdown of the nationalities at
Findajobinafrica.com
30%
25%
20%
15%
10%
5%
0%
Country/ies
Skills Transfer
Voluntary
Consultancies
Advisory
Technical
Medium-short term
Permanent
Current trends
Increasing number of Africans engaged with
Africa at various levels
There is an increasing awareness
by Africans in the Diaspora and
Employers as well as Investors of
the massive untapped resources in
the Diaspora
Harnessing
Quality of
life
Service
industry
National
development
Infrastructure
Investment
Public sector
Good
governance
Job creation
SME’s
Trade
Entrepreneur
AFRICAN DIASPORA
Cooperation
Global
links
Mutual partnership
Transfer of resources
Private sector
Best
practices
Transfer
Mentorship
Productivity