At the 10th African Diaspora Investment Symposium (ADIS25) hosted by George Washington University this week, the African Diaspora Network (ADN) and Myriad USA unveiled the African Diaspora Innovation Fund (AfDIF), a first‑of‑its‑kind effort to channel at least $1 million from diaspora communities into high‑growth African enterprises.
Under the new scheme, individual diaspora contributors may start with donations as modest as $500. Those seed gifts will unlock matching grants—up to $25,000 apiece—for entrepreneurs whose ventures promise tangible social impact. An expert panel of donors and ADN representatives will select recipients through a fully transparent process, ensuring community voices shape investment decisions.
“Our hope is to move beyond one‑way remittances,” explained Almaz Negash, ADN’s founder and CEO. “By pooling our resources, the diaspora can become architects of long‑term prosperity back home—supporting education, healthcare, youth employment and climate resilience.”
To stretch every dollar, ADN is courting a lead institutional donor willing to match every two diaspora dollars with one more, up to $750,000. A parallel crowdfunding campaign will seek the remaining $250,000, inviting diaspora chapters and their allies to play a direct role in the continent’s future.
Mr. Negash emphasized the scale of the opportunity: “With more than 170 million Africans living abroad and remittances topping $50 billion annually, AfDIF channels just a fraction of that power into scalable, transformative ventures.”
AfDIF aligns with ADN’s 2024–2028 strategy, which calls for deeper public‑private partnerships and a shift from immediate relief to sustainable economic growth. By offering tax‑deductible donations and rigorous accountability, the fund aims to set a new standard for diaspora philanthropy.
Applications open next month, and ADN plans to announce the first round of grant winners by year’s end—marking a concrete step toward a diaspora‑led renaissance in African innovation.