The Ivorian government has introduced a new program called WIDU.africa, which aims to channel resources from the country's diaspora community into financing micro, small, and medium-sized enterprises (MSMEs). The program was officially launched at the Mövenpick hotel in Abidjan's Plateau district. It is implemented by the German Development Cooperation, through the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), with financial support from the European Union and Global Gateway.
The program provides a co-financing mechanism, where a member of the diaspora community residing in Europe invests in an enterprise in Côte d'Ivoire. This investment can then be complemented by a subsidy, after verification of the investment made. In addition to financing, the program offers technical assistance and coaching to strengthen the capacities of entrepreneurs, improve the management of their activities, and promote their sustainability.
The program also plans to issue calls for thematic projects, allowing certain enterprises to benefit from support without necessarily having a partner within the diaspora community. At the launch ceremony, Dr. Yao Sylvère Konan, Director General of the Promotion of Small and Medium-Sized Enterprises and Handicrafts, emphasized the need to turn diaspora remittances into a genuine lever for economic development. He stated that the objective is to transform family solidarity into productive capital.
The German Ambassador to Côte d'Ivoire, Matthias Veltin, highlighted the sector's private capacity to create jobs and enable a larger portion of the population to benefit from economic growth. He noted that diaspora financial transfers are still largely dedicated to family expenses, whereas they could support entrepreneurial initiatives. Lanzéni Koné, representing the Director General of Ivoirians Abroad, welcomed the initiative, which offers new possibilities for collaboration between Ivoirians established abroad and local entrepreneurs.
WIDU.africa was launched in 2019 in Ghana and Cameroon and is now present in several African countries, including Côte d'Ivoire, Senegal, Mali, Gambia, Togo, Kenya, Ethiopia, and Tunisia. The program is open to members of the diaspora community residing in various European countries, including some non-European Union states. Its track record shows 13 million euros in private investments mobilized, 8,000 enterprises supported, and nearly 20,000 jobs created or preserved in beneficiary countries.
In Côte d'Ivoire, authorities hope that this initiative will strengthen the entrepreneurial fabric and make the diaspora community a more significant actor in national economic development. The program is set to run until October 2028. With this initiative, the Ivorian government aims to encourage entrepreneurship and create more job opportunities for its citizens.
The program's success will depend on collaboration between entrepreneurs, members of the diaspora community, technical partners, and public authorities. The authorities are optimistic about the potential impact of WIDU.africa on the country's economic development and employment creation.
Key points
- The program aims to mobilize 13 million euros in private investments and create nearly 20,000 jobs in Côte d'Ivoire.
- WIDU.africa provides technical assistance and coaching to strengthen the capacities of entrepreneurs.
- The program is open to members of the diaspora community residing in various European countries.
