Abstract

Remittance from the migrant population are increasingly relevant for many African economies to meet their balance of payment and household consumption. This study re-imagines the role of diaspora by way of providing remittance, technology and entrepreneurship skills in order to develop entrepreneurship orientated economies within Africa. We employ multivariate regression models on data from 20 African countries throughout 2007-2018. The results suggest that entrepreneurial behaviour and attitudes combined with entrepreneurship framework are essential in promoting diaspora remittance inflows into Africa. Additionally, we report empirical evidence about how some country-specific attributes such as a country’s capacity to attract talent and retain human capital; enables the population to innovate and use technology. Specifically, we find that financing, technology coupled with entrepreneurial uptake leads to the development of entrepreneurial ecosystem. We argue that a holistic policy framework is required from international organisations such as World Bank, Africa Development Bank, African Union towards raising awareness of this key source of finance to promote entrepreneurial related projects.