The United Kingdom government has been called upon to facilitate easier and more affordable remittance transfers and investment opportunities for the African diaspora community.
With Kenya and Somalia among the African nations whose nationals benefit heavily from the remittance by the diaspora community, the British High Commissioner to Somalia Mike Nithavrianakis, highlighted the crucial role of the diaspora in fostering sustainable development and bolstering long-term economic resilience in the region
At a forum in Somaliland's capital Hargeisa, the British government, in collaboration with Save the Children expressed commitment to strengthening partnerships between the public and private sectors to drive economic growth and enhance diaspora investment in the region.
The delegation from the UK government met with members of the private sector, representatives from Save the Children, and other stakeholders to discuss economic development priorities and regional collaboration.
The meeting, attended by key investors from the private sector (some with investments in the larger East Africa) and international partners, called on the UK government to facilitate easier and more affordable remittance transfers and investment opportunities for the African diaspora community.
Save the Children was represented by Mohamud Mohamed Hassan and Mohamed Dahir.
Discussions centred on fostering economic growth, addressing challenges, and increasing diaspora-led investment.
Abdirashid Duale, CEO of international money transfer company Dahabshiil and one of the private sector representatives emphasized the importance of international cooperation in job creation.
Dahabshiil is the largest money-transfer business in Africa operating over 24,000 outlets across 126 countries in Africa, the Middle East and Europe.
“There is a need for strong collaboration between the UK government, international partners, and the private sector. It is critical that they work together to create more jobs for young people—both men and women—and support food security by developing the local fishing and agriculture sectors, in the Horn of Africa region which faces severe droughts,” said Duale.
Duale, who returned from United States President Donald Trump’s inauguration, reiterated the importance of a robust private sector in driving economic progress.
Other attendees echoed the need for the UK government to streamline remittance processes and facilitate local investments.
They urged greater collaboration between UK banks, remittance providers, and local financial institutions to enhance financial transactions and unlock investment opportunities.
The participants also emphasized the importance of sustained dialogue and partnerships to overcome economic challenges and accelerate development.
The meeting marked a significant step in strengthening ties between local and international stakeholders, reaffirming a shared commitment to fostering economic growth and social resilience across the region.
Ambassador Nithavrianakis tweeted:
“The private sector is the engine for growth. A great exchange with businesses in Hargeisa on: opportunities in agriculture, energy, and exports, strengthening investment and trade links with the UK.
Nithavrianakis also said they discussed how business can help in peace-building in Somaliland and across the Horn of Africa region.
“it was an eye opener and more forums like this will be vital moving forward,” the envoy said.
