At the 79th United Nations General Assembly (UNGA) held at Columbia Business School, Oluwabankole Falade, Chief Regulatory and Public Policy Officer of Flutterwave, participated in a panel discussion titled “Doing Business in Africa: The Role of the Diaspora.” The event spotlighted the significant contributions of the African diaspora in driving economic growth, innovation, and investment across the continent.
Panel Insights
The panel, moderated by Daniel Jayeoba, CEO & Founder of Guideli, featured an esteemed lineup of industry 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)
- Benjamin Fernandes, CEO and Founder of NALA
Falade emphasized the diaspora’s pivotal role in facilitating Africa’s economic development through increasing remittances, expanding global networks, and making significant investments. He pointed out that the African diaspora is not only reshaping industries but also creating new opportunities within the continent’s rapidly growing economies.
“The African diaspora community contributes significantly to the continent’s growth, and they can do even more. It’s essential that we continue to create platforms and policies that enable them to participate effectively in our economies, either directly from abroad or whenever they are home,” Falade stated. “Their ability to build relationships from around the world and bring them back home can help open doors to generate new business opportunities, making dreams come true for millions of people.”
Flutterwave’s Contribution
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Falade highlighted Flutterwave’s instrumental role in supporting the diaspora, particularly through its seamless cross-border payment solutions. These services allow the diaspora to address both personal and business needs, keeping them deeply connected to Africa’s economic landscape.
The panel discussion underscored how the diaspora serves as a vital bridge for innovation, investment, and expertise. Falade further emphasized the importance of partnerships with the diaspora, stating that their capacity to foster global relationships and channel these connections into Africa opens doors for new business opportunities.
Challenges and Solutions
The panel also addressed several challenges faced by the diaspora when conducting business in Africa, including navigating cultural differences, understanding legal frameworks, and dealing with competition. However, participants agreed that cross-sectoral partnerships and policy reforms could serve as effective solutions to improve the business environment for diaspora-led investments.
Flutterwave’s Commitment
As Flutterwave continues its expansion across Africa—its enterprise payment solution is operational in over 30 countries, and its Send App is available in 49 out of 50 U.S. states—the company remains dedicated to connecting Africa with the world. It aims to create seamless payment experiences and bolster diaspora engagement in Africa’s economic resurgence, ultimately contributing to the continent’s growth and development.
