The Untapped Trillion Dollar Opportunity in Africa’s Diaspora Economy with Nicholas Bassey

[00:00:00] You're listening to the Unlocking Africa podcast. I have a background working in international development. I work for the Peace Corps, the Millennium Challenge Corporation, and recently shifted to the African Diaspora Network. Diasporas are, can be, and should be partners. We bring capital, we bring networks, in some cases needed credibility. We also recognize, though, that the knowledge and the vision must remain with those on the continent.

[00:00:27] We've also intentionally cultivated a community of over 15,000 people worldwide. We have convenings that have brought together nearly 11,000 participants from more than 115 countries. Stay tuned as we bring you inspiring people who are unlocking Africa's economic potential. You're listening to the Unlocking Africa podcast with your host, Terser Adamu.

[00:00:56] Welcome to the Unlocking Africa podcast, where we explore the ideas, innovations, and strategies that are unlocking Africa's economic potential. Africa's innovation story is accelerating. We're talking about an AI market projected to hit $16.5 billion, over 1,600 fintech startups already operating across the continent, and billions flowing back every year from the diaspora.

[00:01:25] But here's the real question. Why hasn't that translated into sustained large-scale investments? Because sending money home is one thing. Building structured pathways for capital, partnerships, and scale is something completely different. That's exactly what today's guest is working on.

[00:01:44] Nicholas Bassey is a chief operations and program officer at the African Diaspora Network, an organization connecting global African talent, capital, and ideas to real opportunities on the continent. Nicholas, welcome, welcome, welcome to the Unlocking Africa podcast. How are you? I'm doing well. Thanks so much for this conversation. We're really excited about it. Thanks for the invitation to talk with you and your listeners.

[00:02:11] It's fantastic to have you on the podcast and looking forward to this conversation. Obviously, as an African diaspora myself, it's something that's very close to my heart. So looking forward to exploring what you and the organization are doing and have achieved recently. But before we get started, as always, I like to start from the beginning. So I was hoping you can give us a brief introduction into who Nicholas Bassey is.

[00:02:39] So you mentioned my job title. I have a background working in international development. I worked for the U.S. Agency for International Development, Peace Corps, the Millennium Challenge Corporation, and recently shifted to the African Diaspora Network, which, as you mentioned, convenes Africans from the continent, descendants of Africans, including African Americans and Afro-Caribbeans and their allies in an ecosystem focused on entrepreneurship

[00:03:08] and mobilizing intellectual, financial, and other resources for a mutually prosperous future. Fantastic. Thank you for that. And as I mentioned in my introduction, we're here to talk about the work that you're doing at the African Diaspora Network, which connects global African talent, capital and ideas. And I think something that's quite topical at the moment is obviously AI.

[00:03:33] And Africa's AI market is growing to $16.5 billion and over 1,600 fintech startups are emerging. But from your perspective, what would you say is the real momentum in this area versus some of the narrative that we are seeing? Thank you for that question. So those data points that you just mentioned, they're not just marketing. They are real. They're actual data points. And there's real momentum in key quarters.

[00:04:02] As you know, Nigeria, Kenya, South Africa, Ghana, for example, are all producing globally competitive ventures. That said, we know that there's still a gap between the headline numbers and the investable, ready-to-scale businesses. Many startups are pre-revenue or they're operating in really fragile regulatory environments.

[00:04:23] We also know that there's some key infrastructure deficits like power, connectivity, logistics that continue to be challenges that can make projections from the outside at least feel a bit inflated. So I think the honest answer is that the direction is real, but the timeline might need some support. And that's where I think ADN, the African Diaspora Network, comes in.

[00:04:48] So if we look closer at that in terms of when you look at Africa's investment landscape today, where would you say the biggest disconnect is happening between, say, global perception and what is actually happening in reality underground? Sure. So I think you know well that the global perception often treats Africa, quote unquote, as a single market.

[00:05:13] We know on the ground that there are 54 countries that have distinct regulatory environments. They have distinct cultures, consumer behaviors. One of the gaps is that investors abroad often expect a Western-style governance structure or exit pathways that just don't exist in many markets yet. I think it's also true that the talent pool is also deeply underestimated.

[00:05:37] A lot of Westerners don't recognize or appreciate that African entrepreneurs are solving complex problems with minimum resources in some cases. And because of that, they often are innovating their Silicon Valley counterparts through frugality, through resilience and other factors. And I think that while perception focuses on risk rather than opportunity, the reality is that some of the most undervalued risk-adjusted returns are on the continent.

[00:06:07] And some of these stats, I think you already know. Just between January and August of last year, African startups raised almost $3 billion in funding, which exceeded the prior year's pace. That was a focus on fintech and cleantech, signaling that informed investors, they're already responding to reality, not just to a negative narrative that might be out there. Interestingly, you touched on the perception of investors.

[00:06:36] So if we look at investors or investment from a different perspective in terms of the diaspora sending back tens of billions back home every year, yet we still find that most of it still is used in a more kind of consumption manner rather than investment. Why would you say this shift hasn't happened at scale yet? Sure. Sure.

[00:07:00] I think you correctly note that between $50 and $100 billion that's sent annually in remittances, those remittances often address immediate needs rather than investment or systemic issues. I think one of the primary reasons is that family obligation is powerful. It's hard to tell someone that they should invest when their mother needs a hospital bill paid or their niece needs school fees paid.

[00:07:25] But we also think that there is often a lack of credible, transparent, and widely accessible investment vehicles. That means that sometimes people who are willing to invest, they can't find the opportunities that are fit for them, for their interests, for their background. There's also a lack of trust, and that comes from a number of different areas. So some of that comes from past governance failures. It can come from actual or perceived correction.

[00:07:56] Also stories about past failed ventures. And all of those things, those are rational. I'm not saying that the hesitation is irrational. That's a rational hesitation. And then when you layer on currency risk or efforts to repatriate profits or unfamiliar legal structures, all of those things also add real financial friction.

[00:08:19] And I think that the real shift can happen when both the emotional case and the structural pathways exist at the same time. And that's where ADN adds value. If you had to simplify it, what role would you say the diaspora realistically plays in Africa's economic development in the next, say, decade? Well, I think, and I think I know that diasporas are, can be, and should be partners. We bring capital. We bring networks.

[00:08:49] In some cases, we bring needed credibility. We also recognize, though, that the knowledge and the vision must remain with those on the continent. So diasporas can't just swoop in with answers. But we can partner with people who know the answers to these questions and have been building structures to address them.

[00:09:09] We also champion transformational investment, which is mobilizing strategic capital and knowledge that addresses some of the structural development challenges that we've just talked about, not just family support. We know that diasporas have more than money. We have technical expertise. We have institutional access, whether that means medical professionals or engineers or policy advocates or continue down the list.

[00:09:35] So I think that a realistic role is catalytic co-investors, mentors where that's relevant, bridge builders between local entrepreneurs and global markets, advocates for better policy environments, all of those things. I think they contribute to an urgency. And we feel the urgency is to transform that financial and intellectual capital into strategic investments.

[00:10:03] And those investments could be across science, technology, education, as you mentioned earlier, that AI-enabled solution. So all of these are roles for diasporas. And they're all quite realistic and primed and ready now. So if we move from the macro picture into the role ADN is playing in actually structuring that opportunity, I know you talk about inform, engage, act.

[00:10:32] So in practical terms, how do you move people from attending events to actually deploying capital or building businesses? Thank you for representing our tagline. So our inform, engage, act is deliberately sequential. So you can't activate people who aren't informed and you can't sustain engagement without clear action pathways. So we engage in a number of different ways. So we have year-round impact and innovation forums.

[00:11:02] And these are held in person across Silicon Valley, Washington, D.C., New York. They also happen virtually. The idea behind these forums is to keep the community warm between flagship events, which is our African Diaspora Investment Symposium, or ADIS for short. So keeping the community warm between those events prevents the conference-high-nothing-happens cycle.

[00:11:28] But we also have a number of programs, including our Builders of Africa's Future program and our Accelerating Business Leadership and Entrepreneurship, or ABLE Accelerators. These programs take entrepreneurs from conversation into structured support. And they do that by coordinating mentorship, funding access, as well as network introductions. Those are all built into the program and left to chance.

[00:11:53] We supported more than 160 entrepreneurs by providing this access to mentorship, to funding opportunities, and strategic partnerships that are designed to fuel their business growth and their social impact. And so I would say that one of our key mechanisms is accountability, and we build that into our program cohorts. We build that into structured milestones, as well as demonstrating that through public recognition as well.

[00:12:20] If we keep on the theme of support, you've supported over 160 entrepreneurs and facilitated a real investment. What would you say separates founders who successfully leverage the AstroRare Network from those who don't? Sure. So the most successful founders, in my experience, they come to our programs with specificity. So, for example, they know exactly what they need.

[00:12:49] And what they need is not just funding, but perhaps a Series A lead with healthcare expertise in East Africa. So that kind of specificity. Some key characteristics are they invest in relationships and they show up. They contribute knowledge. They give to others. They also take advantage of our ecosystem, which has leaders who are working to shape the next generation by mentoring entrepreneurs. They participate in applicant reviews.

[00:13:17] We found anecdotally that participants who engage deeply with the mentorship consistently outperform those who don't. But they also have to come to the programs with a willingness to be both vulnerable and coachable. That's the differentiator. We know that some of the dynamic people on our network can spot arrogance pretty quickly. And so coming with a willingness to be vulnerable and coachable, it really doesn't make a difference.

[00:13:47] We also know that founders who understand cultural code switching, this is something that we talk about a lot. It takes one set of approaches, skills, language even to navigate Silicon Valley norms. But we also know that founders have to remain authentic to their own markets. So being able to switch between those two different codes helps to create opportunities to build stronger bridges.

[00:14:15] And those stronger bridges lead to stronger relationships, which lead to funding and the other outcomes that our entrepreneurs are seeking. The organization sits at a very interesting intersection of entrepreneurs, investors, corporates and philanthropists. Do you ever see any friction in trying to align all of these varying groups? We definitely do.

[00:14:42] And I would say that the friction comes in three primary areas. So the first is around time horizons. Philanthropic organizations think in terms of grants, which usually have a time horizon of one to three years. Investors think in terms of returns, which they're projecting generally between five and ten years. Entrepreneurs, on the other hand, are often living quarter to quarter or month to month.

[00:15:11] So there's real friction in those timelines because they clash. There's also friction and risk appetites. So a lot of corporations want de-risked, proven solutions and startups. On the other hand, they need capital precisely before they have been proven. So that's a real chicken versus egg scenario. There are also language barriers. And when I say language, I don't just mean the multiple languages that are spoken across the continent.

[00:15:39] I'm talking about impact language and investment language. They don't always translate well. So the same project could be framed as social enterprise. It could be framed as a high-growth venture. And those different framing approaches attract entirely different types of investors. And so our role, one of our roles, is essentially translation. So trying to help each group to see the value in the others framing without losing their room.

[00:16:09] So with that in mind and the work that you do as an organization, you know, there are many diaspora organizations globally. But what would you say that ADN has figured out that others are still struggling with? We figured out how to pair longevity with intentionality. So Almas Nagash founded ADN in 2010.

[00:16:32] And since then has grown into a Silicon Valley-based nonprofit that focuses on mobilizing intellectual, financial, social capital of Africans, diasporians, and friends of Africa. So that's 15 plus years of curated consistency that builds trust that organizations that focus only on events generally can't replicate.

[00:16:56] We've also intentionally cultivated a community of about over 15,000 people worldwide. We have convenings that are brought together. In aggregate, nearly 11,000 participants from more than 115 countries. So the breadth and the depth of that network also doesn't exist in many places. I think we've also premised our work on the art of inclusion without dilution.

[00:17:25] Meaning that we welcome anyone who is interested in Africa. So that includes African Americans. That includes Afro-Caribbeans. That includes Africans from the continent. And who are on the continent. As well as allies. So all of these different groups find a home in ADN events and programs. So we don't differentiate by country, for example. We also have programs. And I mentioned the Builders of Africa's Future and the ABLE program.

[00:17:55] And those show that we've moved beyond convening to, not from just convening, to capacity building. And that's an evolution that many diaspora-focused organizations haven't made. We also have focused on partnerships with key corporations and philanthropic institutions. And these partners have helped ADN to see cross-sector collaborations and institutionalized impact rather than depending solely on individual champions.

[00:18:23] So we also welcome individual champions. So some of those things are differentiators. And there are a lot of diaspora organizations that exist. And we are excited to partner with them as well. But some of these things that I've just mentioned distinguish ADN from many other diaspora-focused organizations.

[00:18:45] If we look closer at what you do, your flagship platform, ADIS, because that's where a lot of this comes together in practice. The platform is positioned as more than a conference. It's a marketplace of ideas, capital, and partnerships. But what does that actually look like in terms of real outcomes?

[00:19:35] Thank you. No matchmaking algorithm can replicate. So that was this year. Last year, one major highlight was the launch of the African Diaspora Innovation Fund. And that is designed to bridge the funding gap for innovators and social ventures, creating actual funding, not just conversations. Through our ADIS programming, we also provide public recognition for our entrepreneurs.

[00:20:03] We also do warm introductions between entrepreneurs and investors who are in the room and who are primed to engage. So we've activated intentional collaborations to create multi-year institutional partnerships. Those have been forged or catalyzed at ADIS. And some of the outcomes that are deeply real but also a bit more difficult to measure include hiring.

[00:20:30] So a lot of the ventures that come to ADIS, they find the people that they're looking for. There are co-investments between participants. There's the policy influence that's exerted. All of those things, they're difficult to measure, but they have real impact as well. I guess it's safe to say a lot of these events in the African Diaspora space, they generate conversations but not always deals.

[00:20:56] So how do you design ADIS differently to drive those tangible results? So ADIS 26, the one that happened just a couple of weeks ago, has been described as more than a conference. It's a carefully curated marketplace of ideas, of capital, of action. And through that, we have structured sector-specific sessions rather than a roster of generic panel discussions.

[00:21:23] So we have not just plenaries, but we have curated networking opportunities and action-focused workshops. This year, they focused on health, AI, research and development, tech, science and innovation and more. And we curated these action-focused workshops to intentionally curate intimacy and have people recognize their aligned values. And we did that to help drive deals.

[00:21:51] We also have followed infrastructure through impact and innovation forums to maintain the momentum between annual gatherings. We use ADIS as a launchpad, but we continue to support year-round. We recognize that deals don't just close at ADIS. Many of them start there as well. As you mentioned, it's a curated marketplace where you bring a range of people and groups together. You're bringing together Silicon Valley and Africa.

[00:22:20] What would you say each side consistently misunderstand about the other? Silicon Valley, I think, fundamentally misunderstands African markets. And they often project American or European consumer behavior onto African markets to their peril. They also underestimate the sophistication of local entrepreneurs.

[00:22:43] And they assume that there's kind of a uniform regulatory risk across the continent instead of recognizing that there are at least 54 different markets. One market for each country or multiple markets even within the same country. Conversely, we think that African entrepreneurs misunderstand Silicon Valley. And sometimes there's a perception that capital flows freely if you have a good idea.

[00:23:10] When in reality, access in Silicon Valley is deeply relationship-driven and often culturally coded. A couple other points. One is that Silicon Valley, the ethos there is to move fast and break things. And what we have learned is that that approach doesn't work in many African markets. Instead, patience is required. Community buy-in is required.

[00:23:37] Government relationships that take years to build are also required. And so our work at ADN is to bridge Africa and the Silicon Valley, the 54 markets across the continent and Silicon Valley, gathering community members to spark plans for action, to spark connections and collaboration. So we think that one of the most dangerous misunderstandings, frankly, is on both sides of thinking,

[00:24:05] one side thinking that the other needs saving rather than partnering. So with these, I guess, different groups, there's always potential for collaboration. So what have been some of the most interested or unexpected partnerships that you've seen come out of ADN? I don't know if this is necessarily unexpected, but we're really excited about ADN's, one of our newest programs,

[00:24:29] it's called the Grand Challenges African Diaspora Engagement Accelerator, or GC-ADIA, because we love long acronyms. This was developed with funding from the Gates Foundation and focuses on collaboration between researchers on the continent and across the diaspora, focused on health innovation, research and development, and equitable partnerships.

[00:24:51] So this program promotes joint research-funded partnerships and knowledge exchange that's aligned with prioritized health challenges. So that's one idea that came out of ADN is, and it came out of a desire of a need, really, to transform this concept of brain drain into brain circulation and strengthening R&D ecosystems.

[00:25:18] We also partnered with Myriad USA to launch the African Diaspora Innovation Fund, which I mentioned a few moments ago. That combines diaspora leadership with philanthropic expertise, and it's a hybrid philanthropic investment model that is really novel, and that came directly out of ADN last year.

[00:25:41] One of the programs that was the most unexpected to me is our Catholic Sisters Start Your Social Enterprise Program. It was, I would say, unexpected to me as a new member of the ADN team, because it brings the religious community into the entrepreneurship and investment conversation in an unexpected but really powerful way.

[00:26:05] So those are some of the most interesting or unexpected partnerships that have come out of our annual convening. Thank you for sharing that. So if we revisit one of the earlier talking points, you know, when it comes to the African diaspora, one theme that you can't get away from is talking about trying to move beyond remittances. I know ADN talks about going beyond remittances. Yes.

[00:26:29] But what does that look like in practice for someone listening who sends money back home regular? That's a powerful question. So thank you for asking. And I think that the first thing is, with the person remitting, is starting with intention before that next transfer, asking themselves, is this consumption or is it for investment? Both of those are valid approaches. So I'm not trying to say that one is better or worse than the other, but it's important to know the difference between the two.

[00:26:58] We think that diaspora bonds or collective investment vehicles that some African governments, including Ethiopia, Kenya, Nigeria, they've issued diaspora bonds specifically to attract those remittance flows. We promote diaspora capital as catalytic and not just charitable.

[00:27:21] And so that means that giving or remitting should be intentional and aligned with priorities, African priorities, and implemented through accountable community-based models. And so we would ask that as people are thinking about their remittances, they're giving, that they consider co-investing with others in their communities through investment clubs

[00:27:46] or pool smaller amounts to create deal-relevant aggregate amounts. And also think about supporting businesses, not just people. So directing remittances towards family members' businesses rather than just for pure pay assumption. That could also help to keep money productive longer. As diasporans, you know, we've all heard the stories of family and friends who have been burned, felt the impact from bad governance and unclear structures.

[00:28:16] For those people, how do you go about rebuilding the trust, you know, and convincing or, you know, encouraging them to reinvest in the continent? So the first thing we do is that we advocate for transparency as a non-negotiable term. So clear financial reporting, third-party audits, legal structures that diaspora investors can verify from abroad are all important.

[00:28:43] We also champion community accountability, so peer networks and diaspora organizations like ADM. It's important to endorse or review opportunities to create a reputational check on bad actors. We also think that people can start small. So think about pilot investments instead of grand investments. We can think about blended finance with de-risking mechanisms from first loss capital to guarantees.

[00:29:14] All of those things lower the stakes for trust rebuilding. We also think that stories matter. So part of our work is to showcase successful exits and returns, not just projects that are funded. These stories, I think, are the most powerful trust building tool. Thank you for sharing that. So with that in mind, what financial or structural innovations would you say are needed to turn

[00:29:40] diaspora capital into long-term productive investment? Diaspora-specific investment funds that perhaps have lower minimums, that definitely have clear governance, and Africa-based operational partners. All of those things are essential. I think it's also important to move away from donor dependency and toward Africa-owned solutions, and that's precisely the structural model that's needed at scale.

[00:30:09] We also know that there's a real need for regulatory harmonization across African markets. Having that harmonization would make it easier to invest in multiple countries through a single vehicle, perhaps. And that would be a real high-leverage policy change, and it's needed. So if we think about it from this perspective, do you think we're overestimating the diaspora's willingness to invest, or is the real issue the lack of credible vehicles?

[00:30:39] Both of them are true, frankly. They're true in part, at least. So the vehicle problem, I would say, is larger. Most diaspora members who claim that they would actually invest if there was something credible, they really mean it. So the willingness is real, and the billions that are annually remitted proves that diaspora is already moving significant amounts of capital. So our work should be to encourage and focus their investment behavior, as it's not really to create it from scratch.

[00:31:09] So we know that the credibility gap is structural. So without proper fund management, infrastructure, legal clarity, trackable outcomes, even willing investors will rationally stay out. An emotional connection to the continent is a powerful motivator, but it won't override financial risk indefinitely without some clear returns. So the goal of people who care about these kinds of things should be in designing vehicles that work

[00:31:38] with diaspora psychology. So starting with identity, starting with belonging, and then building towards financial return rather than the other way around. I know from my experience to invest, we need to be specific about how, where, and what to invest in. I know ADN focuses on sectors such as fintech, healthcare, education, and AI. But from your perspective, where are you personally seeing the most investable opportunities today?

[00:32:06] So I have a few themes, and these themes came out of our recent ADDIS meeting, ADDIS 26. And you've mentioned many of them. So fintech, mobile money, infrastructure, cross-border payments, credit scoring for the unbanked, all of those are high conviction plays. And the unit economics for these are becoming increasingly proven. So in healthcare, our grand challenges, the African diaspora engagement accelerator, that

[00:32:35] program should surface some really interesting opportunities, and we're excited about that. In education and edtech, there's, as you know, a massive youth population. There's growing smartphone penetration, and that equals a compelling market for skills-based learning, particularly vocational and technical training. There's also opportunities in climate and clean energy.

[00:32:59] You know that Africa has 60% of the world's solar potential, and off-grid and mini-grid solutions are investable now. That's not just an aspirational thing. There are many tangible projects in those areas. And in agriculture and agritech, food security remains a priority. The opportunity that we see, frankly, and that was discussed recently, is in value chains. It's in processing, it's in cold storage, it's in logistics. It's not just in farming, though.

[00:33:28] There are opportunities there as well. I know one of the sectors which we touched on quite a bit today is in terms of AI. There's a lot of excitement around AI in Africa. But where do you see the real commercial applications versus some of the, you know, headlines and hype that we do see? This is also a topic that was discussed in pretty great detail just a few weeks in Santa Clary. So AI and Howard crop disease detection.

[00:33:57] So farmers with basic smartphones can diagnose problems. Front detection and mobile money, language model adaptation for African context. All of those are real opportunities. Also, our healthcare diagnostics, AI-assisted radiology or pathology interpretation in places where there are shortages in specialists. So there's some near-term commercial liability there.

[00:34:25] We also, though, see some hype. And we know that in that category, we'd call enterprise AI tools that are designed for Western context that are just being repackaged for African markets without any kind of local adaptation. We know that those data sets won't transfer. The problems aren't the same. So they can't be expected to create really viable solutions.

[00:34:49] So we've had a series of discussions focused on AI for Africa's future. And in those sessions, we specifically emphasized equitable, ethical, and inclusive adoption in healthcare, agriculture, and governance. And the emphasis on appropriate AI is key. And I'm sure your listeners have heard many conversations about real commercial opportunities and leapfrogging.

[00:35:17] So Africa doesn't need to replicate AI applications. It needs AI built for African infrastructure constraints and African problem sets that are happening in an African context, not a European, not an American context. I agree. And I know healthcare and digital health are another big focus area for ADN. But what would you say is a real opportunity, especially with diaspora expertise?

[00:35:46] So I'm going to make this sound a lot simpler than I know it is. But there's a critical shortage of healthcare workers. So there are opportunities for diasporic physicians, researchers, public health professionals. All of those could potentially contribute their expertise without physically relocating through telemedicine, through digital platforms, through AI.

[00:36:09] One of the themes that came up quite a bit at our recent meetings was that the opportunities in vaccine manufacturing, as well as local pharmaceutical production. That's a real post-COVID strategic priority where diaspora scientists in biotech and pharma can catalyze change. We also recognize that health data infrastructure is largely unbuilt at this point.

[00:36:33] So there are real opportunities for diaspora technologists to create interoperable systems that unlock better healthcare. So we had discussions on vaccine manufacturing, R&D, print discovery, supply chain resilience. All of these are sectors where diaspora expertise is not just helpful, but it's generally scarce on the continent.

[00:36:58] And we believe that pairing diasporas with entrepreneurs on the continent can lead to some really interesting opportunities and create real change, positive change. Thank you for sharing that. I know during the conversation we spoke about some of the current opportunities, but if we fast forward 10 years, what would you say success looks like for the organization? I love that question.

[00:37:23] So our community is 15,000 plus members and 115 or so countries. That should become a living investment network, not just a list or grouping of amazing people, amazing companies and amazing organizations. 10 years from now, it's one that actively deploys capital and expertise.

[00:37:44] We would envision the African Diaspora Innovation Fund growing into a replicable model that attracts institutional co-investors, proving that diaspora capital can be professionally managed. We would see the businesses that are in the future. We would see the businesses that were accelerated through ABLE and builders of Africa's futures.

[00:38:04] Those alumni companies would reach significant scale, creating a portfolio of success stories that can be used to inspire the next generation of diaspora investors. We also are working to deepen our policy influence. So helping to shape the U.S.-Africa investment policy in lasting ways would be a real win for ADN in 10 years' time.

[00:38:29] Our ultimate measure of success really, though, would be that the need for organizations like ADN would be diminished. And it would be diminished because diaspora engagement with Africa has become normalized. It's become institutionalized and, frankly, is self-sustaining. So that's what success from ADN's perspective would look like across all of those areas.

[00:38:54] I guess more importantly, what would you say needs to change for Africa to actually capture this moment or opportunity? Leadership, accountability and governance reform remain foundational. So we recognize that no amount of enthusiasm from diasporas can overcome infrastructure challenges, systemic correction, or other system challenges like that.

[00:39:20] So we also know that, and this has happened in some cases really well, African governments can actively seek and court diaspora capital through competitive policy frameworks, such as dual citizen pathways or investor protections or diaspora-specific financial products.

[00:39:41] We also know that education systems need urgent reform and orientation towards science, technology, engineering, and math, orientation toward entrepreneurship, orientation towards the digital skills that must supply the talent that a growing innovation economy demands. We also know that there need to be some narrative shifts as well.

[00:40:06] So the global narrative must shift from Africa, and I say Africa, quote unquote, as an aid recipient to an investment destination, which means that we have to really boost Africa's storytelling infrastructure. So that is in media, that's through think tanks, that's through diaspora voices. All of this must be done deliberately in order to capture the opportunity that exists in this moment.

[00:40:36] And if we bring it back to the people, if someone in the diaspora is listening right now and wants to move from sending money home to actually building something meaningful, what would you say are the first practical steps they should take? This question is a really important one because ultimately it's all about people. So I would say people getting specific, diasporans getting specific about their why.

[00:41:04] So thinking about which country, what sector, which problem are you passionate enough about to sustain through the setbacks that will come, they're really inevitable. Joining a community before you invest the dollars. So organizations like ADM exists precisely to provide the kind of networks and peer learning that individual investors often lack. We also encourage people to start with knowledge, not with capital.

[00:41:33] So you can offer your professional skills, whether they be medical or legal or tech or financial or something else, to an Africa-based venture before you commit your money. You'll learn faster. You'll help to build trust. We also, through ADM, I've mentioned that we supported more than 160 entrepreneurs through mentorship and funding opportunities and strategic partnerships. So connecting with that ecosystem is a concrete and accessible first step.

[00:42:02] And we also encourage people to think long-term. So while entrepreneurs might think in months or quarters, expanding that thinking to decades is a really helpful framing. We recognize that some of the most successful diaspora investors treat engagement in Africa as a long-term relationship. It's not about a specific transaction. Quote of the week.

[00:42:30] As people, we often have quotes, mantras, proverbs, or affirmations that keep us going when times are challenging or when times are good. Do you have one that you can share with us today? So, I was glad that you shared this question in advance because I have one, but I also found a few others that I thought were really powerful.

[00:42:53] And some of these, your listeners, have undoubtedly heard from your other guests, but one or two of them might be novel in this environment as well. So the first one, this is the one that resonated most with me, is if you want to go fast, go alone. If you want to go far, go together. Yes. I am because we are. That's also an important one.

[00:43:17] One that also really resonated is the forest would be silent if no bird sang except the one that sang best. And so I interpreted that as the call to contribute even when you are seeking, when you're not an expert, when you feel inadequate to the size of the task. And so I think that that is a particularly powerful one.

[00:43:43] And the final one I'll share is act your way into a new way of thinking. So stop waiting for perfect conditions or perfect vehicles or perfect readiness. The time to start is now, starting with what you have, where you are, with the people you know. It is indeed. And what a great way to end today's conversation, Nicholas. If there's one thing to take away from this conversation, it's Africa doesn't have a capital problem.

[00:44:12] It probably has more of a coordination or perception problem. The money exists. The talent exists. The opportunities are clear. But unlocking that at scale does require structure, trust and intentional collaboration, which you are providing through the Africa Diaspora Network. So thank you for joining us today. It has been an absolute pleasure. The pleasure was mine. Thank you to you. Thank you to your listeners. We look forward to keeping in touch with you.

[00:44:39] And perhaps next year, you and some of your listeners can come join us at the African Diaspora Investment Symposium in 2027. That would be fantastic. And I look forward to that. Absolutely. Thank you, sir. Thank you to everyone who has listened and stayed tuned to the podcast. If you've enjoyed this episode, please subscribe, share or tell a friend about it. You can also rate, review us in Apple Podcasts or wherever you download your podcast.

[00:45:06] Thank you and see you next week for the Unlocking Africa podcast.