------- Forwarded message follows ------- Send reply to: "Dr Banjoko" <[log in to unmask]> From: "Dr Banjoko" <[log in to unmask]> To: "CBC Africarecruit" <[log in to unmask]> Subject: Press Release- Africa Business discuss Foreign Direct Investment with the African Diaspora London United Kingdom 19/20th November 2004 Date sent: Sun, 17 Oct 2004 19:43:51 +0100 Organization: AfricaRecruit Diaspora Investment Forum 19-20 November 2004 , Wembley Conference Centre, London United Kingdom Leading business operating in Africa will convey in the United Kingdom to boost efforts to mobilise the African Diaspora towards invest in Africa and explore ways of tapping into the estimated US$45 billion investment portfolio. At present it is estimated that only 6% of the Diaspora Remittances is used for investment purposes. The conference organised by African Business Roundtable and the New Partnership for Africa's Development (NEPAD) will explore the best means of attracting investment from the Diaspora to Africa. AfricaRecruit an organisation set up to build robust and enduring productive capacity throughout the continent is facilitating the event with the support of Diaspora media organisations such as BEN Television, OBE Television and other Diaspora organisations such as AFFORD, Cameroon Forum, Ghana Prestigious Awards, TanDias and many others. AfricaRecruit chairperson Dr Titilola Banjoko said there is an appetite within the Diaspora to invest in Africa. 91% of those surveyed by AfricaRecruit said they would be interested in doing so if certain obstacles were tackled such as lack of information and or suitable investment options with the infrastructure to support the movement of the funds. Crucially, over half of those surveyed stated that lack of transparency of the business environment in Africa is discouraging investment by the Diaspora. This was reflected in the recent press release from the International Development Select Committee on Migration and Development: How to make migration work for poverty reduction which stated that "If remittances are invested well, these funds could play a major role in reducing poverty. The development potential of remittances must be secured by encouraging the act of remitting, reducing the costs of sending money home, and improving the investment climate for remittances in developing countries." The conference, which runs from 19th and 20th of November 2004, will mobilising the African Diaspora for Investment. It will showcase investment options, challenges, policies as well as case studies aimed at strengthening and developing investment by African Diaspora. The event is being sponsored by the Africa Stock Exchange Association; Nigerian Stock Exchange; First Securities Discount House Limited Nigeria; Counters Trust Securities Limited; Western Union; Mayor of London; African Business and many others. Other participants include the Ministry of Finance, Planning and Economic Development in Uganda and related organs from Africa. Editors note NEPAD (New Partnership for African Development) Business Group comprises leading business organisations that have a broad constituency - both inside and outside Africa - and are committed to supporting the continent's ambitions to realise its full economic potential. For more information contact Mr Olumbe Akinkugbe Tel- +44(0)207 024 8224 www.africadiaspora.com ------- End of forwarded message ------- ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ To Search in the Gambia-L archives, go to: http://maelstrom.stjohns.edu/CGI/wa.exe?S1=gambia-l To contact the List Management, please send an e-mail to: [log in to unmask] To unsubscribe/subscribe or view archives of postings, go to the Gambia-L Web interface at: http://maelstrom.stjohns.edu/archives/gambia-l.html ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~