Showing posts with label Nigerian Americans.. Show all posts
Showing posts with label Nigerian Americans.. Show all posts

Monday, 11 August 2014

How Africa could benefit from its diaspora remittances.



When Microsoft board appointed CEO Satya Nadella to take over at the helm from the long time CEO Steve Ballmer, The Indian media was splash with several headlines. They all pointed to the increased number of powerful positions that the Indian born immigrants were playing in The United States. In August 2011, Time Magazine splashed the cover story ‘India’s Leading Export: CEOs.’ It is estimated that a third of Microsoft employees are of Indian descent. While many immigrants from Africa have not risen to the powerful positions as the Indian immigrants, they too have occupied important positions in Wall Street, leading universities, and even in Silicon Valley itself. There clout has grown so much that The African Union has recognized them as a special pillar of development in the continent. The AU secretariat has created a special institute, to be headquartered in Nairobi, Kenya, to specifically research on the Africa diaspora remittances. 

Many immigrants from Africa hold at least a college degree, and are engaged in all sorts of economic activities. In a recent book written by Amy Chua and her husband Jed Rubenfeld, ‘The Triple