Opportunities in Africa: Spotlight on Black America - Africa Business Collaboration
According to the IMF, 7 of the world's 10 fastest growing economies in the next 5 years will come from Africa. Currently, USA-Africa trade relations as well as foreign direct investments to Africa are on an upward trajectory. The unprecedented inflow of capital and economic growth (around 5% annual growth rate over the past decade) has marked a new era for Africa, making it possible for resources and opportunities to intersect. Click here
Powering Agriculture: An Energy Grand Challenge for Development Semifinalists Announced
The Powering Agriculture: An Energy Grand Challenge for Development (PAEGC) received 871 applications for its second Global Innovation Call. The Founding Partners are pleased to announce that 106 out of the 871 applicants have been invited to submit Stage 2 Full Proposals by April 30th! Please click here.
Angelle B. Kwemo Congratulates the First 1000 Tony Elumelu Entrepreneurship Program
LAGOS, NIGERIA- Angelle B. Kwemo, Founder & Chair, Believe in Africa (BIA) and Managing Director & CEO, Rimsom Strategies, Ltd., joins the Tony Elumelu Entrepreneurship Program Selection Committee (TEEP) members to congratulate the 1000 entrepreneurs who will participate in the TEEP 2015 class. Click here.
NOC Unveils Tanker Tracking System
One of the leading petroleum companies in Ethiopia, National Oil Ethiopia (NOC), unveiled a new tanker tracking system on Thursday. The new system will enable the company to locate tanker trucks, protect fuel adultery and monitor the behavior of drivers. Click here
List of Minority Business Development Agency (MBDA) Centers
Minority Business Development Agency (MBDA) Centers are available to provide assistance to African Diaspora Entrepreneurs with preparing their business plan application for the African Diaspora Marketplace (ADM III) Business Plan Competition. Please click here for the contact details of an MBDA-Center in your area.
Beyond Grants: U.S. Program for Diaspora Businesses Grows Up
The African Diaspora Marketplace, an Initiative that helps small to mid-size businesses break into Africa, has returned this year with a newly refined focus on keeping projects alive over the long-haul. Born in 2009 from a partnership between the U.S. Agency for International Development (USAID) and Western Union, the initiative hosts a biennial competition for startups and established businesses hoping to expand into one or more of the 29 selected African countries. To be eligible, applicants must be able to demonstrate their African heritage. Click here
Grants for African Entrepreneurs in Diaspora- ADM
The African Diaspora Marketplace (ADM) was launched in 2009 by the United States Agency for International Development (USAID) and Western Union. Its primary purpose is “to encourage sustainable economic growth and employment by supporting African diaspora entrepreneurs.” Click here.
Welcome to the ADM News and Updates page. Check back often as we add new items.
Cape Verde is now part of the ADM III. Click here.
African Diaspora Marketplace III Launch Event in Philadelphia, PA. Click here.
Africa Strictly Business: African Diaspora Marketplace Launches Third Round. Click here.
29 August, 2014: ADM featured by Concordia as a P3 Impact Award finalist. Winner will be announced at this year's Concordia Summit on September 29th in New York City.
13 December, 2013: Western Union to discuss first steps to overcoming SME challenges to access finance the Kenya Diaspora Conference, December 14. http://kenyaembassy.com/diasporaconference2013.html
21 August, 2013: 2nd Annual SME Live Bank Panel Forum to be held again in Lagos, Nigeria in November 2013 read more and sign up here!
USAID and Western Union Extend Libya Diaspora Marketplace Deadline to June 24, 2013 read more>>>
Cape Verde is now part of the ADM program! Please click here to see a picture of Ambassador of Cape Verde to the US Fatima Veiga and the ADM Team.
LDM FAQs read more>>
LDM press release - Arabic read more>>
8 April 2013: USAID and Western Union Launch the Libya Diaspora Marketplace! read more>>
Cape Verde is now part of the ADM program!
15 March 2013: Installation of a Power Pallet Biomas Generator at Booker Washington Institute, Liberia read more>>
19 Nov 2012: BOI, Western Union and USAID Hold SME Live-Banking Forum read more>>
17 Nov 2012: The Tony Elumelu Foundation, Western Union and USAID host the African Diaspora Marketplace Investment Event read more>>
Watch Global Culture TV's coverage of the ADM II here.
Since its inception the African Diaspora Marketplace has supported SME development throughout Africa, with programs such as:
- ADM I, a business plan competition which provided matched grant funding for 14 SMEs in 7 countries (2009-2010)
- ADM II, a business plan competition which has provided matched grant funding, technical assistance and linkages to other sources of financing for ADM participants (2011-2012)
- Tony Elumelu Foundation (TEF) 2nd Round Investment event, provided the opportunity for 17 SMEs to pitch their businesses for equity and social impact investment (2012)
- Bank of Industry (BOI) ADM Live Banking Forum, created access to 8 competing Pan-African banks for entrepreneurs to pitch their business plans for SME loans and other financing (2012)
- Libya Diaspora Marketplace (LDM), encouraging SME growth and employment following a time of change (2013)
- TEF and BOI ADM financing events, details to be announced for November 2013