Africa receives more than $100 billion each year in remittances and billions more in philanthropic contributions.
These financial flows are now being recognised as powerful tools that can drive gender equality and inclusive growth across the continent.
This was the central message at a regional conference held in Dakar from June 2 to 3, 2025.
The event, co-hosted by UN Women and the Ford Foundation, brought together more than 150 participants from government, finance, technology, philanthropy, and civil society.
The forum focused on how remittances and philanthropic capital could be redirected as long-term investments in women’s empowerment and economic transformation.
Speakers called for a shift in mindset – from viewing remittances as charitable donations to treating them as strategic capital.
They argued that when properly channelled, these funds could support women-led businesses and community development.
Dr Catherine Chi-Chi Aniagolu, Ford Foundation Regional Director for West Africa, said the focus should not be on aid but on building systems that empowered women.
She called for a new architecture of giving that places African women at the centre of leadership and decision-making.
Examples were shared on how women were leading innovations in agriculture, maternal health, and textile production, yet, many of these women face limited access to capital.
Participants emphasised that remittances, if invested strategically, could help close this funding gap and open up business opportunities for women.
The role of the African diaspora also featured prominently in discussions.
Speakers said it was time to move beyond viewing the diaspora only as senders of money.
They called for more structured partnerships between diaspora networks, public institutions, and civil society to support gender-responsive investments.
Participants highlighted the need for better tracking of how remittances impacted women’s lives.
They also called for the creation of financial products tailored to women’s needs and more inclusive digital platforms.
Mr Kofi Appenteng, President of the African American Institute, described remittances as a quiet success story.
He emphasised the importance of listening to the experiences of those who send and receive money, and not just relying on development theories.
Mr Paul-Harry Aithnard, Regional Director at Ecobank Group, urged governments and financial institutions to create an environment that allowed diasporan capital to move beyond household consumption.
He said with the right policies and financial tools, remittances could become a key driver of development.
Foundations and financial institutions at the conference shared how they were changing their approach to funding.
Ms Oniye Okolo of the Tony Elumelu Foundation said women now make up 45 per cent of their grantees, a significant increase from when the grant programme began in 2015.
She said their goal was to build an ecosystem that allows women to thrive.
Ms Elisa Desbordes, CEO of the Ecobank Foundation, said her organisation prioritised women and girls in its funding and outreach activities.
She highlighted the need to address both financial and mentorship gaps, especially for women in the informal sector.
Ms Ndeye Amy Ngom Seck, speaking on behalf of the Central Bank of West African States, emphasised that financial inclusion strategies must put women at the centre.
She noted that even a small reallocation of diaspora remittances towards women’s empowerment could bring about major social and economic changes.
Throughout the conference, participants presented ideas for connecting remittances and philanthropic capital to grassroots women’s initiatives.
They proposed using digital tools, community-based platforms, and public-private partnerships to mobilise and direct these funds.
In his closing remarks, Dr Maxime Houinato, UN Women Regional Director for West and Central Africa, called for an end to systems that excluded women who lacked access to formal networks.
He urged stakeholders to build inclusive structures that support women who are often the backbone of families and communities.
Africa must move “from remittances to resilience,” he emphasised.
GNA
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