Eric Osiakwan and Yaw Owusu
The growing interest in rediscovering African heritage among Caribbeans, Black Americans, Afro Latinos, and other members of the diaspora is highlighted by the quote, “I am not African because I was born in Africa but because Africa was born in me,” by Kwame Nkrumah, Ghana’s first president and Africa’s independence revolutionary. The Diaspora Affairs Office of Ghana reported that more than 1,500 Americans of African descent relocated to Ghana between 2019 and 2023, following the successful Year of Return campaign. This initiative aimed to encourage the diaspora to return to Africa and celebrate the 400th anniversary of the arrival of the first enslaved Africans in Virginia.
With over 200 million people of African descent living outside the continent, the combined population of Africa and its diaspora holds immense potential, surpassing China in numbers and representing nearly a quarter of the world’s population. The Year of Return campaign paved the way for the “Beyond The Return” program, focusing on tourism, investment, and fostering economic relations between Africa and its diaspora.
In 2025, Afreximbank launched the Africa Trade Centre in Barbados, marking the first permanent presence of an African business in the Caribbean. This center aims to strengthen trade, investment, and financial collaboration between Africa and the Caribbean, providing resources to streamline trade between the two regions. Additionally, the Republic Bank acquired Ghana’s HFC Bank, and Trinidad signed a Bilateral Air Services Agreement with Nigeria, establishing the first direct flight between the Caribbean and Africa.
Furthermore, African American-owned businesses are exporting goods to Africa, generating over $100 million in exports to Nigeria, Ghana, and South Africa. The Black consumer market in the United States is projected to reach $1.7 trillion in buying power by 2030. Remittances from the African diaspora to the continent exceed foreign direct investment and developmental aid, highlighting the significant economic contribution of the diaspora.
The African diaspora population consists of descendants of slaves from the 16th to 19th centuries and recent immigrants from Africa, contributing to the diverse cultural landscape of the Western Hemisphere. The top countries with the largest Black populations include Brazil, the USA, Colombia, Haiti, France, Saudi Arabia, and others.
In 2020, the United States Census Bureau reported that 47 million people in the country are of African descent, emphasizing the rich cultural heritage and economic impact of the African diaspora. Initiatives like the Year of Return and Beyond The Return continue to strengthen the connection between Africa and its diaspora, fostering economic growth, cultural exchange, and investment opportunities for both regions.
