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Presentation to the Second Committee: Findings of ad-hoc expert group meeting on Strengthening business sector & entrepreneurship in developing countries:

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Presentation on theme: "Presentation to the Second Committee: Findings of ad-hoc expert group meeting on Strengthening business sector & entrepreneurship in developing countries:"— Presentation transcript:

1 Presentation to the Second Committee: Findings of ad-hoc expert group meeting on Strengthening business sector & entrepreneurship in developing countries: potential of diasporas Friday 6 October 2006 United Nations, New York Chukwu-Emeka Chikezie African Foundation for Development (AFFORD)

2 Overview Engaging diaspora is a means to an end: Define focused, clear & specific public policy goals in relation to businesss contribution to development Engage your (not the) diaspora in the challenge: Possess & communicate a clear vision of how your diaspora can contribute

3 Overview contd One size does not fit all: Tailor your policies to your individual needs, circumstances, & diaspora characteristics Find your champions & winners… & ACT!

4 Public policy MDGs: halve poverty How? Create more jobs Eg Africa: UNECA: sub-Saharan Africa must create 8 million jobs each year Who? Private sector with enabling public policy environment 4Es – entrepreneurship, employment, employability, equal opportunity already cornerstone of fight against poverty

5 Public policy India, China, Taiwan –Different conditions & circumstances –Policy shifts created climate for diaspora to engage –Policies set off chain of events –Some similarities? Investment in education, strong state capacity to formulate & implement policy, effective structures to utilize resources from diaspora or other sources

6 Engage your diaspora Make home warm & welcoming Find ways to make your diaspora feel valued & special But find ways to make everyone feel included, otherwise you create divisions between them & us – diaspora are only part of the picture Set challenges, give recognition Maintain regular dialogue Think beyond first generation – communicate with second & subsequent generations using their language Be inclusive – eg African Americans Offer dual citizenship Use embassies & cultural diplomacy Improve investment climate for all investors/entrepreneurs

7 One size? High finance capital, low non-finance capital Cash rich, time poor, long-term settled individuals with few links with home but some emotional connection (ie potential investors) Policy options: Stock exchange High finance capital, high non-finance capital Highly skilled individuals in senior positions in management, corporate finance, etc Successful owners of well-established medium/large businesses Policy options: Venture Capital instruments High-profile, focused networks Low finance capital, low non-finance capital Marginalized, trapped in low-skilled/low-paying jobs Undocumented migrants (cannot travel back & forth) Asylum seekers barred from working Refugees unable to secure jobs commensurate with their skills & experience People remitting significant portions of even meagre income to relatives at home Policy options (limited for business impact): Research to understand investment portions of remittances Channel remittances via formal channels Small-scale business development initiatives, eg micro- franchising Seek stronger linkages between remittances expenditure & local economy Tax relief on remittances for development Negotiate for recognition of rights for migrants in host countries Low finance capital, high non-finance capital Owners of small enterprises Young/female entrepreneurs Members of hometown & other associations Highly skilled individuals in paid employment Policy options: Match diaspora entrepreneurs to SME partners Business development support & networks Trade initiatives linking home & host countries Business plan competitions Virtual business mentoring

8 Act now! Action-research beyond case studies but not more pure research – learn by doing Focus on tangible results with demonstration effects – success breeds success Identify champions in government, domestic private sector, & diaspora – leadership across the board is key Start small but look for scaleable initiatives Go!

9 Thank you! Contact us for more information Chukwu-Emeka Chikezie E: W: T: +44 (0) F: +44 (0) AFFORDs mission is to expand & enhance the contribution that Africans in the diaspora make to Africas development


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