Members of the African diaspora living in Europe are increasingly investing in and financing African start-ups, according to World Mobile’s latest research.
World Mobile is one of the most innovative companies reshaping internet connectivity to offer mobile connectivity that is affordable and dependable. In order to rapidly expand its network across Africa, the business is currently launching operations in Zanzibar and is testing in Kenya. It is also in advanced discussions with a number of other African nations.
“We are afraid to invest in our country.” Nebil Nasser Suleman, an entrepreneur who opened a cafe in Zanzibar after traveling to Germany, asserts, “There are a lot of people who want to do something, but they don’t have the support.”
The study also shows that 83% of diaspora members are likely to invest in sharing economy businesses over the next five years, despite the fact that many are now looking to invest in technology and e-commerce.
By allowing anyone to share in the ownership and rewards of a mobile network, World Mobile brings the sharing economy to the telecom sector.
“The infrastructure for World Mobile’s network can be owned jointly by its users and operators thanks to our network’s specific focus on the sharing economy,” states World Mobile CEO Micky Watkins.
By 2025, analysts predict that the sharing economy will be worth more than $335 billion worldwide. Africa is expected to be a key growth center due to increased adoption of digital services and apps.
“Our research shows that the diasporas are cognizant of the rapid expansion of the sharing economy in Africa and are eager to see their resources put to use in the development of the continent,” Watkins adds.
World Mobile’s CXO, RJ Katunda, states once more, “A connected world is borderless.” In addition to being at the forefront of providing meaningful connectivity, World Mobile’s one-of-a-kind offering of profit sharing through the sharing economy enables anyone, even diaspora members, to contribute to the construction of the infrastructure necessary to connect the unconnected masses.
Diaspora investment in Africa has significant advantages. It aids in job creation, economic development, and local business support. Additionally, it fosters a sense of pride and connection between the diaspora and the nations of their ancestors.
The Wajamama Wellness Centre’s founder, Nafisa Jiddawi, states: I feel like I was forced to return and give back to my community because this is my legacy. After spending her formative years in the United States, she discusses her return to Zanzibar, her birthplace.
Its survey of diaspora from across the continent reveals that the diaspora community sends $500 per month, or more than $6,000 per year, to their home country, with nearly three out of four (73%) saying that some or all of the money supports businesses in which they are investors.
The diaspora surveyed give an average of $508 per month, but 32% say they send more than $500 per month, and one in twelve say they give more than $1000 per month to friends and family. The scale highlights the expansion of entrepreneurialism on the African continent, which has been sped up by improved internet connectivity, which also makes it easier for the diaspora to send money back to their home countries.
The vast digital divide can be bridged through World Mobile, opening the door to economic opportunities. World Mobile’s dynamic network model is more long-lasting than that of traditional mobile operators. By utilizing solar-powered nodes, second-hand batteries, and energy-efficient technology, the network reduces its impact on the environment and provides novel solutions to economic, social, and environmental issues.
Source: www.ventureburn.com