With many innovative entrepreneurs being among the estimated 1.4 million Africans living in the U.S. and wishing to tap their economic potential, the second African Diaspora Marketplace (ADM) has been launched by Western Union, the Western Union Foundation and the United States Agency for International Development (USAID).
The initiative encourages sustainable economic growth and employment by supporting U.S.-based African diaspora entrepreneurs with ideas for start-up and established businesses in Sub-Saharan Africa.
Western Union wishes to create positive social impact through reliable products, responsible operations and innovative community programs such as the African Diaspora Marketplace. “Our support for innovative diaspora entrepreneurs is an investment in the long-term economic health of Africa, and part of our enduring community commitment,” said Hikmet Ersek, president and CEO of Western Union.
The second phase of ADM will be targeting grants toward high priority, high-impact sectors in Africa, including agribusiness, renewable energy, and information and communication technology (ICT).
The prize winners in the 1st African Diaspora Marketplace shared between them just under US$ 1.4 million.
Proposals for the 2nd African Diaspora Marketplace to be submitted by February 3, 2012, will be implemented in participating countries across Africa including Sierra Leone.
More information can be found at http://www.diasporamarketplace.org