In a groundbreaking move to shift the narrative of African diaspora involvement from remittances to investment, the African Diaspora Network (ADN) and Myriad USA have unveiled the African Diaspora Innovation Fund (AfDIF)—a new initiative designed to empower entrepreneurs across Africa with grants of up to $25,000 each.
The fund was officially launched at the 10th African Diaspora Investment Symposium (ADIS25), held at George Washington University in Washington, D.C., and is set to raise $1 million within six months through a blend of diaspora contributions and institutional support.
Starting with minimum contributions of $500, AfDIF seeks to democratize philanthropy within the global African diaspora by enabling individuals and groups to directly support scalable ventures on the continent. ADN is also actively courting a lead institutional donor to match donations at a 2:1 ratio, targeting up to $750,000 in matched funds, while an additional $250,000 is expected through crowdfunding efforts.
Selected entrepreneurs will receive funding through a donor-led and transparent selection process, focusing on businesses that tackle critical sectors such as education, health care, youth employment, and climate adaptation.
“This fund is more than a donation pipeline—it’s a blueprint for long-term economic transformation,” said Almaz Negash, Founder and CEO of ADN. “Our mission is to convert the power of the diaspora into catalytic capital that builds sustainable, locally driven prosperity.”
Negash emphasized that AfDIF represents a strategic pivot away from short-term remittances toward impactful investments that foster entrepreneurship and wealth creation across the continent.
AfDIF aligns with ADN’s strategic plan for 2024–2028, which emphasizes cross-border knowledge exchange, innovation partnerships, and enterprise development as pathways to inclusive growth.
With over 170 million Africans living abroad, primarily in North and Latin America, the potential influence of diaspora capital is immense. Though annual remittances to Africa have topped $50 billion, the vast majority supports short-term needs. AfDIF aims to redirect a portion of that financial flow into ventures with long-lasting economic and social value.
By enabling tax-deductible contributions and maintaining strict compliance and accountability standards, the AfDIF initiative hopes to set a new precedent for how global Africans contribute to Africa’s future—not just through aid, but through entrepreneurial empowerment.
