Flutterwave’s Chief Regulatory and Public Policy Officer, Oluwabankole Falade, stressed the diaspora’s role in driving Africa’s economic growth through increasing remittances, expanding global networks, and investments.
He noted that the African diaspora is transforming industries and generating new opportunities across rapidly growing African economies.
Falade shared these insights during a panel discussion on the African Diaspora’s Role in Economic Growth at the United Nations General Assembly (UNGA).
At the 79th UNGA, hosted at Columbia Business School, Falade participated in a panel titled “Doing Business in Africa: The Role of the Diaspora.” This event spotlighted the significant contributions of the African diaspora in promoting economic growth, innovation, and investment across the continent.
Moderated by CEO & Founder of Guideli, Daniel Jayeoba, the panel featured distinguished experts, including Sola Yomi-Ajayi, CEO of UBA Americas; Dr. Jumoke Oduwole, Special Adviser to the President of Nigeria on the Presidential Enabling Business Environment Council (PEBEC); and CEO and Founder of NALA, Benjamin Fernandes.
Falade said: “The African diaspora community plays a vital role in the continent’s growth, and they can do even more. It’s important that we continue to develop platforms and policies that enable them to contribute effectively to our economies, whether from abroad or when they are home,” said Bankole. “Their ability to establish relationships globally and bring these connections back home can unlock doors, creating new business opportunities and making dreams a reality for millions of people,” he added.
The discussion highlighted how the diaspora acts as a bridge for innovation, investment, and expertise.
Falade stressed the importance of partnerships with the diaspora, noting that their capacity to cultivate global relationships and channel these connections into Africa opens up opportunities for new businesses, thereby helping millions of entrepreneurs and citizens achieve their aspirations across the continent.
The panel also addressed challenges such as navigating cultural differences, legal frameworks, and competition when conducting business in Africa. Despite these obstacles, cross-sectoral partnerships and policy reforms were identified as potential solutions to enhance the business environment for diaspora-led investments.
With Flutterwave’s continued expansion across Africa—its enterprise payment solution operating in over 30 countries and its Send App available in 49 out of 50 U.S. states—the company remains committed to connecting Africa with the world, creating seamless payment experiences, and supporting diaspora engagement in Africa’s economic resurgence.
