Africa’s $100 Billion in Remittances Poised to Catalyze Gender Equality and Local Development

As Africa attracts over $100 billion annually in remittances, and billions more in philanthropic flows, a bold new vision is emerging—one that reimagines these financial flows not as acts of charity, but as strategic capital to fuel gender equality and inclusive development.  

From 2 to 3 June 2025, UN Women and the Ford Foundation co-hosted a landmark Regional Conference on Sustainable Philanthropy and Remittances for Gender Equality in Dakar. Bringing together over 150 thought leaders from philanthropy, finance, government, technology, and civil society, the event examined how to align Africa’s diverse funding streams with the urgent goal of empowering women and girls. 

From maternal health to agriculture and textile manufacturing, women-led businesses are building the backbone of African economies, yet access to capital remains a key constraint. Participants shared compelling examples of how remittances can unlock opportunity—when recognized as intentional, long-term investments rather than one-off transfers. 

“This is not about aid—it’s about shifting power and building systems,” said Dr. Catherine Chi-Chi Aniagolu, Ford Foundation Regional Director for West Africa. “We must build a new architecture of giving—one that centers African women’s voices and leadership.” 

Redefining Diaspora Engagement 

Participants stressed that it is time to rethink how we engage with the African diaspora—not just as a source of remittances but as partners in development and source of knowledge —and to redesign diaspora flows in ways that foster transformative, gender-responsive outcomes.  

Participants advocated for structured partnerships among diaspora networks, local civil society, and public institutions. Many called for deeper investments in movement-building and narrative change to amplify African-led and diaspora-supported initiatives. They emphasized the need for rigorous tracking of remittance impacts on women and the creation of gender-responsive investment mechanisms. 

“Remittances are a quiet, perhaps surprising, success story,” said Kofi Appenteng, President of the African American Institute. “But any effort to scale them must stay grounded in the voices and needs of those sending and receiving—not just our theories of change. We must make African women and girls visible—not just as beneficiaries, but as architects of their own futures.” 

The conference also highlighted the importance of developing the right financial products and enabling environment. Paul-Harry Aithnard, Ecobank Group Regional Director, added: “Sending money home must go beyond consumption. With the right policies and investment products, diaspora capital can become a strategic engine for development.” 

From Charity to Empowerment 

Foundations and financial institutions described how their funding models are evolving to embrace inclusive, feminist, and locally rooted approaches. 

“When we launched the Tony Elumelu Foundation Grant in 2015, most applicants were men,” recalled Oniye Okolo, Policy and Partnerships Officer. “Today, 45% of our grantees are women. Our goal is to build an ecosystem where women can thrive and lead.” 

“In all our advocacy and outreach activities, we strive to put women and girls first and address the funding gap and mentorship needs of women entrepreneurs, including those in the informal sector” said Ecobank Foundation CEO Elisa Desbordes. 

Financial leaders highlighted the need for policy reforms and inclusive fintech solutions to close the digital and financial divides, particularly for rural women entrepreneurs. 

“When women thrive, everyone benefits. That’s why our financial inclusion strategy puts women at the center—not just as beneficiaries, but as drivers of economic transformation,” said Ms. Ndeye Amy Ngom Seck, speaking on behalf of the Central Bank of West African States. “Reallocating even a portion of diaspora remittances toward their empowerment could be truly transformational.” 

Innovation and Next Steps 

From maternal health to green entrepreneurship, the conference showcased how strategically aligned remittances and philanthropy can drive sustainable change. Participants proposed connecting diaspora and private capital and foundation support to grassroots women-led initiatives through digital tools, community platforms, and leverage public-private partnerships to mobilize funds. 

The conference ended with a resounding call to action: “We must shift from viewing remittances and philanthropy as acts of charity to seeing them as strategic levers for inclusive, sustainable change,” said Dr. Maxime Houinato, UN Women Regional Director for West and Central Africa. “Let’s stop designing systems around those who already have access—and start building for women who are off the grid yet hold entire families together.” 

“We too must build permanent bridges between the continent and its diaspora,” he concluded. “It’s time to move from remittances to resilience.” 

Distributed by APO Group on behalf of UN Women – Africa.