Lisa Curtis Private Sector Adviser, Sierra Leone

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DFID Working with the DiasporaInvestment and
Africa

• Lisa Curtis Private Sector Adviser, Sierra
  Leone
  
• UK Department for International Development
• 6 October 2006

1 Palace Street, London SW1E 5HE
Abercrombie House, Eaglesham Road, East Kilbride,
Glasgow G75 8EA
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Why DFID works with the Diaspora
We will build on the skills and talents of
migrants and other ethnic minorities within the
UK to promote the development of their countries
of originThe 1997 White Paper International
Development, Eliminating World Poverty

• Two main strands to DFIDs work
• Diaspora as a source of funds
• Diaspora as investors

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Diaspora as a source of funds
Remittances greater than aid flows

• Our aims
• Remove policy, legal and funding barriers to
  remittance flows
  
• Lower costs
• Increase transparency
• Expand choices
• Improve access
• Increase impact on development

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www.sendmoneyhome.org
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Diaspora as Investors differ from traditional
investors
Investment Objectives
Risk Assessment

• Commercial objectives
• Social investment objectives
• Personal commitment
• Building a future for family

• Better-informed through social networks
• Know how to access market information
• Know how to navigate official processes
• Longer investment horizon

• Diaspora investors are early risk-takers
• Well-placed to invest in SMEs

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Diaspora as Investors Managing investor
perceptions
Investment climate reforms take effect
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DFIDs work with Diaspora in Sierra Leone
In Sierra Leone SL Business Forum - Diaspora A
ctivities

• In Diaspora
• Sierra Leone Diaspora Network (UK)
• Sierra Leone Network (USA)

• Private sector contributing to Technical
  Committees advising on Admin Barriers reforms and
  National Private Sector Strategy
  
• Diaspora group formalising and participating in
  public-private dialogue on policy reforms

• Dissemination channels for information on reform
  programme
  
• Outreach on changing investment climate,
  investment opportunities, etc.
  
• Participants at International Investment Forum
  and other events

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DFIDs work with Sierra Leone Diaspora
challenges and next steps

• Understanding real drivers of investment
  decisions forthcoming study on investor
  perceptions and criteria
  
• Mobilising human resources as well as funds PSD
  Strategy Programme supporting initiatives that
  assist diaspora entrepreneurs to access domestic
  finance
• Repatriating skills With Africa Recruit,
  targeting diaspora for recruitment to
  international positions in donor-supported
  intitatives

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Contacts Xavier Lecacheur, Financial Sector Te
am X-Lecacheur_at_dfid.gov.uk Lisa Curtis, Privat
e Sector Adviser, Sierra Leone
L-Curtis_at_dfid.gov.uk