Kanayo Adibe | Photographer
Washington, D.C. 5 May 2025-/African Media Agency (AMA)/- African Business Stories (ABS) convened the third edition of its Roundtable Series during the 2025 World Bank Spring Meetings, hosting a high-level dialogue titled “Leveraging Diaspora Investment for Africa’s Economic Growth.” The event featured WTO Director-General Dr. Ngozi Okonjo-Iweala and other leading African and global voices in development and finance.
Launched in September 2024 on the sidelines of the United Nations General Assembly (UNGA) in New York, the ABS Roundtable Series convenes influential stakeholders to address critical barriers to scaling African businesses — with a focus on closing Africa’s $42 billion financing gap for women-owned enterprises and fostering sustainable growth.
Held at the Washington, D.C. offices of Akin Gump Strauss Hauer & Feld LLP, the ABS Roundtable was made possible through the generous support of Akin LLP, Bank of America, and Moneda Invest Africa. Their partnership underscores a shared commitment to advancing Africa’s economic growth through innovative investment, strategic collaboration, and inclusive development. Bank of America’s partnership in this event reflects its ongoing commitment to sustainable growth and inclusive finance across Africa. The firm continues to support initiatives that unlock capital, scale entrepreneurship, and build resilient financial ecosystems.
Opening keynote speakers President Admassu Tadesse, Group President and Managing Director of Trade & Development Bank, and Mrs. Zainab Ahmed, Executive Director at the World Bank and former Nigerian Minister of Finance, set a powerful tone — challenging participants to move beyond traditional aid models and strengthen Africa’s investment readiness.
A dynamic panel discussion followed, featuring Joan Manda (UNDP Timbuktoo Initiative), Barbara Iyayi (Unicorn Growth Capital), and Chidi Blyden (Culturally Bound), moderated by Kenechi Eze (Moneda Invest). The conversation centered on building trust, creating credible financial vehicles, and transforming Africa’s 44 million SMEs into engines of scalable investment.
Kanayo Adibe | Photographer
The event culminated in an inspiring fireside chat with Dr. Okonjo-Iweala, moderated by Ms. Yvonne Ike, Managing Director at Bank of America and Head of Sub-Saharan Africa (ex-RSA). Addressing a room of investors, policymakers, and entrepreneurs, Dr. Okonjo-Iweala called for a decisive shift away from reliance on foreign aid, urging African countries to mobilize domestic resources, attract private sector investment, and build institutional trust. She emphasized the pivotal moment Africa faces in the global economy:
“Africa’s opportunity lies not in aid — but in adding value, building trust, and using our resources wisely,” said Dr. Okonjo-Iweala.
She stressed that Africa’s critical minerals must be leveraged strategically to drive industrialization rather than perpetuate dependence on raw exports:
“Our critical minerals are in demand — but instead of giving them away raw, we must negotiate smartly, add value locally, create jobs, and become a true hub of global manufacturing and innovation.”
Dr. Okonjo-Iweala also addressed the impacts of global economic shifts — from trade disruptions to shrinking aid budgets — and stressed the urgency of regional collaboration, transparent governance, and strategic investment facilitation to attract both diaspora and global capital.
Closing the session, Dr. Okonjo-Iweala encouraged African entrepreneurs, leaders, and the diaspora to recognize their individual agency:
“Even solving one problem or building one enterprise can have ripple effects across the continent. Everyone has a role to play in building Africa’s future.”
“Events like this roundtable are vital platforms to foster collaboration, deepen trust, and unlock the entrepreneurial potential that exists both within Africa and among its global diaspora,” said Yvonne Ike, Managing Director and Head of Sub-Saharan Africa (ex-RSA) at Bank of America. “It was an honor to join this important dialogue and help shape conversations that will drive long-term impact.”
Participants committed to deepening collaboration with the African diaspora, creating credible financial structures, and expanding access to capital for the continent’s 44 million SMEs—key pillars for long-term growth.
Akaego Okoye, Founder of African Business Stories and Convener of the ABS Roundtable Series, added:
“Diaspora investment is not just about capital; it’s about building ecosystems and reshaping Africa’s economic narrative. We are proud to create a platform where action-oriented conversations drive real change.”
Distributed by African Media Agency (AMA) on behalf of African Business Stories
About African Business Stories
African Business Stories (ABS) is a platform dedicated to unlocking investment for women-led businesses in Africa by telling their stories and connecting them to investors, resources, and key decision-makers. Through storytelling, strategic convenings, and ecosystem-building initiatives, ABS creates high-impact pathways that accelerate the growth and visibility of female entrepreneurs across the continent.
Press Contact
To explore collaboration opportunities or learn more about the ABS Roundtable Series, contact info@africanbusinessstories.com or visit www.africanbusinessstories.com.
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