{"id":428699,"date":"2011-05-23T13:30:33","date_gmt":"2011-05-23T13:30:33","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/23\/western-union-usaid-to-launch-new-marketplace-for-african-diaspora\/"},"modified":"2011-05-23T13:30:33","modified_gmt":"2011-05-23T13:30:33","slug":"western-union-usaid-to-launch-new-marketplace-for-african-diaspora","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/23\/western-union-usaid-to-launch-new-marketplace-for-african-diaspora\/","title":{"rendered":"Western Union, USAID to launch new marketplace for African Diaspora"},"content":{"rendered":"
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You Are Here: Home<\/a> \u00bb Africa\/International<\/a> \u00bb Western Union, USAID to launch new marketplace for African Diaspora<\/p>\n

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Page last updated at Monday, May 23, 2011 13:13 PM \/\/ <\/span><\/div>\n

\"\"<\/a>Global money transfer Services Company, Western Union and the United States Agency for International Development (USAID) have announced the launch of a new business initiative for US-based African Diaspora known as the African Diaspora Marketplace (ADM) in the fourth quarter of 2011.<\/p>\n

In a joint statement issued and copied to ghanabusinessnews.com on May 19, 201, the two organizations said the ADM is to encourage sustainable economic growth and employment in Africa.<\/p>\n

\u201cThe ADM encourages sustainable economic growth and employment by supporting US-based African Diaspora entrepreneurs with innovative and high-impact ideas for start-up and established businesses in Sub-Saharan Africa\u201d, the two announced at the US Secretary Clinton\u2019s Global Diaspora Forum on May 17, 2011.<\/p>\n

The new marketplace, the organizations say will incorporate key learning from the first ADM, by focusing grants toward priority, high-impact sectors in Africa, including agribusiness, renewable energy, and information and communication technology (ICT).<\/p>\n

According to Western Union and USAID, they will invite small business investment funds and technical assistance mentors to participate in the effort to engage Diaspora entrepreneurs.<\/p>\n

For instance in 2010, the ADM awarded more than a dozen matching grants of $100,000 each to winning business entries in seven countries, the statement said.<\/p>\n

\u201cWith the ADM, Western Union can leverage its expertise providing services to small-medium businesses and its vast network and resources to help create lasting social and economic impact\u201d said Hikmet Ersek, Western Union President and Chief Executive Officer.<\/p>\n

The Administrator at USAID Dr. Rajiv Shah noted that \u201cEntrepreneurship can be a powerful tool to enhance economic opportunity and empower communities, and Diasporas often play a powerful role in starting businesses and mentoring emerging entrepreneurs, so we are pleased to work once again with Western Union on ADM-II.\u201d<\/p>\n

By Ekow Quandzie<\/p>\n\n

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