Subscribe to ADDI for notifications of updates. Now, all of a sudden, here comes Ghana with the 'Africa Sankofa Account’ or the ‘Diaspora Savings and Investment Account’ aimed at getting $3 Billion in investments from institutional and retail [individual] investors in the diaspora. In contrast, Ghana will focus on Ghana only. I get the sense Ghana is trying to jump ahead or offset or slightly thwart the ADDI fund idea started by Dr. Arikana and announced several months ago. This is so Ghana can avoid having a Pan-African mindset oversee fund usage in Ghana. Ghana's move appeases colonialists because it is a division of focus. It is individualistic for certain and here's more of the reason why. Ghana already has tons of investments for various reasons, most of which will, based on past performance, likely not help the have nots and not fundamentally move Ghana towards independence, but will instead do the opposite. This is another form of selling Ghana and tying Ghana in an inseparable knot with the wrong people.
Although Ghana is saying their Diaspora Savings and Investment Account is so Diasporans can participate in the rebuilding of the African continent, this is simply not true.
Another website says the funds will be used to build infrastructure, agriculture and tourism. Ghana, through its import policies, have allowed its tomato industry to be decimated. They also allow their cacao farmers to remain poor despite everybody else getting rich off of cacao. These are a few of the problems that indicates intent is not to help the have nots but rather to build up Accra and possibly Kumasi with most of the benefit going to non-Africans and government. You should search this blog for Ghana to understand why this is my conclusion. Ghana's trade policies allows Italy and China to sell their tomatoes and tomato products to Ghana. This type of thinking destroyed Ghana's tomato farmers and processing plants, rice and poultry. This is in contrast to words on paper that say: Ghana‘s development vision, as clearly articulated in the Ghana Shared Growth and Development Agenda (2010-2013), is to lift as many Ghanaians as possible out of poverty in the shortest possible time through a structural transformation of the economy. Meanwhile basic education is not free, plus they are being taught a Eurocentric curriculum. There was a 2015 Ghana Diaspora Fund (GDF) which was or is a collective, non-governmental, non-tribal, non-political and non-religious initiative formed by Ghanaians abroad to promote growth and development in Ghana.
Another Investment Fund
Not sure if this is valid or still in effect. Originally launched in June 2018, Diaporans launched the ADIF fund which is expected to make its first investment in 2019. Like regular venture funds, ADIF will pursue deals in the form of equity and or debt financing.ADIF is powered by donations from Africans abroad, allowing them donate a certain percentage of their remittances to the fund through RemitFund, an award-winning non-profit, aims to leverage remittances flows for greater social impact on the continent, by enabling Africans in the diaspora to donate a percentage of their remittances to an investment fund. RemitFund has in view to tackle unemployment and underemployment in Africa by empowering Africans in the diaspora to build and invest in sustainable impact businesses that create jobs and foster development on the African continent.
In particular, ADIF targets businesses advancing critical areas of the United Nations Sustainable Development Goals (SDGs). These include businesses in the agricultural sector and renewable energy businesses.
I have not tried to come nowhere near listing the full range of investment activity in Ghana. Here's one more website that contains some recent investments. One in particular is from Bill Gates and is almost $800 million to invest in recreational marijuana, although marijuana is illegal in Ghana, in keeping with the European mentality of making something illegal that shouldn't be, and something legal that shouldn't be. By the way, Bill Gates has been mentioned on this blog as dedicated to killing Africans and many other undesirables.
