Africans in Europe seek new ways to invest back home

"Africa’s robust diaspora in Europe will soon have a facility for direct investments in their home countries, a study by the Brussels-based Africa Caribbean Pacific Business Climate says...Officials say the study will most likely recommend a closed-end private equity fund, that would invest alongside a group of diaspora investors and provide them with start-up capital. In addition, discussions are underway to provide technical assistance facilities for any such project...Remittances from Africans working abroad between 2000 and 2003 averaged $17 billion per annum, according to a 2005 report by the United Nations Office of the Special Adviser on Africa. Total Foreign Direct Investment (FDI) flowing into African nations averaged $25 billion per year over the same period, meaning remittances account for most of the FDI flows." From: NationMedia.com/East African News