Diasporans Are Excelling In The Western World

DIASPORANSAREEXCELLINGIN THEWESTERNWORLD

BUTALLOW INGFUTUREECONOM ICRECOLONIZATIONBYTHEWESTERNERSINTHE AFRICANSTARTUPSPACE

Africans are making waves and excelling in various economic sectors in the western world, but fall short to investing and funding African-based startups.

The lack of massive diasporans investment in African-based startups is creating a gap to attract foreign dominance in the Africa startup space that has the potential to subject African entrepreneurs to humiliation, discrimination, stereotyping, and sometimes racism from their most prominent western investors.

Recently, Africa has made much difference in terms of growth and investment opportunities. Many talented Africans are getting inspired to launch their own startup, however, most of these investors tend to sway towards being Westerners whereas we have capable Africans in the diaspora that could play pivotal roles ensuring that the interest of African startups is protected. Allowing dominance of non-African investors in the African startup space might lead to economic recolonization as the non-Africans might not have the African entrepreneurs?best interest at heart.

There are essential aspects of business that are pivotal for a successful growth trajectory. Categorizing these aspects such as analyzing problems and growth patterns in a systematic way that is useful to entrepreneurs' comprehension at first glance. At this stage, it is extremely important to understand the vision of the founder(s) to develop an independent

These startups, besides creating jobs, contribute to securing the various sectors of activity, by their capacity to innovate and to adapt

actionable item with closer scrutiny that increases the understanding of the business environment.

There are various ways African Diasporans can get involved in protecting the interest of African entrepreneurs from exploitation.

For example, an Africa founder that may receive a prospective Venture Capital investment proposal of $200,000 USD for his/her startup might be ignorant about shares and equity. In the initial stages, this founder might have a high tendency to make an irrational decision that could affect his stake in his startup moving forward.

Diasporans could establish a profit or non-profit firm that is tailed to providing insight expertise advice to African startups before they sign contracts with their prospective investors ensuring. This ensures that African startup's interests are protected. They should also use a similar legal set-up, shpuld they observe any maneuvering during the business learning phase. African diasporans can also play supporting roles in evaluating, consultanting and matching solutions to smaller African enterprises.

The best option for Africans is to increase their investment efforts by occupying a great portion of their portfolio in African startups. This is something African countries desperately need in their bid to develop their economies.

The advantage of Diasporan involvement is to create employment opportunities in the continent and also help solve some of the challenges facing Africa. It is quite obvious that these startups are solving problems through their invention and innovation. When some startups hit a critical mass, they solve problems, improveing lives and create employment. According to information from Sub-Saharan Africa, remittance volumes from the African Diaspora had declined

in 2020. This is understandable because people and businesses were in a defensive mode during the Coronavirus pandemic. But now that the worst of the virus outbreak is over, African diasporans have to become stronger in a sustainable capacity in Africa through supporting startups.

These startups, besides creating jobs, contribute to securing the various sectors of activity, by their capacity to innovate and to adapt. African startups need funding and this is what able Diasporans can handle. What is left now is to earn the African Diaspora?s trust, in order to mobilize and manage these funds with full transparency.