Strengthening diaspora investment in private sector development and growth in Ghana and Ethiopia
Ghanaian and Ethiopian diasporas residing in the Netherlands to engage themselves, as entrepreneurs, for the development of the private sector in their respective home countries. The collaboration aims to support the diaspora to act as agent of change by transferring knowledge and skills, and investing in existing businesses or starting their own business, thereby promoting economic growth in their country of origin.
Through this project IOM will address the different challenges the diaspora face when wanting to set-up businesses and act as a facilitator and a coordinator at the service of the selected entrepreneurs. PUM will, amongst other activities, provide coaching and mentoring services to these entrepreneurs in order to improve their skills and ensure bankable (viable) businesses are being initiated. Forty diaspora entrepreneurs will be offered assistance in their journey to start up or expand businesses back home.
Andy Wehkamp, Director of PUM: “IOM has a broad experience with diaspora and a great network, including local offices and a good relationship with governmental bodies in Ghana and Ethiopia. PUM builds on its unique feature as an organisation of entrepreneurs for entrepreneurs, including diaspora entrepreneurs. Good partnership and complementarity between PUM and IOM is key in the broader challenge of supporting youth entrepreneurship and employment.”
Antonio Polosa, Chief of Mission of IOM the Netherlands: “For this project we see a great potential in terms of starting and supporting a number of businesses of high quality. PUM and IOM are able to do this because of our unique synergy of capacity and experience. On the long term this can be a powerful inspiration and an example of how business can be conducted in a different way, in both Ghana and Ethiopia.”
The engagement of diaspora for the development of their countries of origin has generated an increasing interest in the recent years among different stakeholders and has been put high on the international political agenda, such as the Global Forum on Migration and Development (GFMD) and the United Nations High Level Dialogue on International Migration and Development.