Diaspora Bonds

Developing countries receive millions in Aid each year and this has been the case since independence of most countries in the 1950’s. However, we are still looking for lucrative ways for developing countries especially African countries to capitalize on Aid and improve the standard of living for its citizens. Will the solution come from the African diaspora with the the method of Diaspora Bonds?

Diaspora Bonds:

Diaspora Bonds are long dated securities that are only redeemed upon maturity, they should not be confused with Foreign Currency Deposits (FCD’s) or the Islamic Bonds- which forbid the paying or receiving of interest. Diaspora Bonds are simply set so that the diaspora can purchase the bonds issued by their home country. The notion of the diaspora contributing directly to the development of their country come with great patriotism and this makes it easy for country’s to issue bonds and raise capital. The diaspora bonds can be sold as low as $100 or as high as $100k.

History:

Notably India and Israel have managed to utilize diaspora bonds and the results have proven to been very rewarding not only for the Government but also the Indian/Israeli citizens and their Diaspora. is real has been using Diaspora Bonds since 1951 and India since 1991. According to the World Bank, Bonds issued by the Development Corporation for Israel (DCI), established in 1951 solely for the purpose of raising foreign exchange resources from the the Jewish Diaspora have raised a total of $25 billion. Diaspora bonds issued by the government - owned State Bank if India (SBI) have raised over $11 billion to date.

Projects:

Diaspora Bonds can be easily used to finance major projects for the development of a particular sector or serve as a supplement to the “Aid” that is already being received. A perfect example would be the funding of a) Infrastructure Projects e.g. roads, bridges etc. b) Micro-Finance c) Educational Institutions and Health Facilities. In the case of India, they managed to use Diaspora Bonds - India Development Bonds (IDBs) after the balance of payments crisis in 1991, $1.6 billion was raised.

Problems:

The Major obstacles that sub-saharan Africa would face with Diaspora Bonds is with corruption. Who will manage the funds, who will dictate how the funds are to be used? Which governmental entities, private companies, and individual groups will issue these bonds? Aid recipients struggling with major corruption and finding it difficult to have transparency in the management of Aid, how will they manage Diaspora Bonds differently?

Conclusion:

The Idea of the African Diaspora (which is said to have a combined saving of $30 billion) pulling its resources together to solve African issues sounds like the beginning of true development for the continent. However, to achieve this goal, it will be necessary for the parties involved to develop good governance and experiment with the idea of using Diaspora Bonds.

Google+ v.s. Facebook in the developing countries.

Since the launch, Google+ has made a huge buzz in the western countries, and the wave is expected to follow throughout the globe just like a Mexican-wave during a soccer match. However, does Google really have a plus when it comes to users in the developing world? Will Google be able to compete with Facebook in the developing countries? The answer to these questions are a lot complex than we may think, because there are a lot of strings attached to which network users in the developing countries will settle for based on the following;

1. Most users in the developing world especially in Africa get on online through their mobile devices therefore, whichever network will provide an easy mobile access will likely have a competitive advantage. Let’s keep in mind that, IPhones and Androids are still expensive and considered a luxury in these countries therefore, these networks will have to make it fairly easy for users to access their networks through regular phones that do not have an APP.
2. Ease of Navigation- Although, Facebook has been around for a while, it is only recently that they experienced a surge in users from Africa and other developing countries. Facebook has also rolled out an email application which most users in developing countries were sold on. Currently, Facebook is not as simple as it used to be – with all the new functions and quarterly security updates; it’s hard to keep up with what’s going on. The average Simba will get intimidated with all these high-tech and the terminology that comes along with these buttons that can cause disaster if not used properly.. (Google, your +1 is a little bit confusing).
3. Where is my crowd? Let’s face it, although all these social networks appear to be doing the same thing – connecting people, in reality they are very different in their approach and each network has its unique function. Personally, I have different crowds in all social networks that I use and I interact differently with all these people.
4. Security. It was just yesterday that my friends and I were discussing the difference between Facebook and G+. Ironically, we all agreed that a) Facebook has been taking over our lives and we want to change that b) we like G+ a lot better because it’s not so intimate and we have control over security – Can’t go wrong with Circles
5. Simplicity. I think this will score major points in the end. Facebook is Facebook! but Google, you kinda have a lot of tunnels and baggage’s e.g. Buzz, G+, Docs etc. etc. If you can simplify and combine all these different platforms you will win!

All in all, the two networks are very different in their approach; for one may not feel obligated to do a background check on strangers that add on G+ in contrast at Facebook it might be wise to go through pictures and mutual friends if the person adding you is a stranger. Facebook serves a a powerful marketing and advertising platform and most businesses will likely never completely abandon Facebook unless G+ comes up with a miracle. Security is always a major consideration for users and we cannot deny that we have been having a bit of a problem in that area at Facebook. In the context of consumers in the developing world, they will likely stick with the platform that serves their basic needs for now which is connect with friends and family, easy to access and easy to use.

Leaders for an Emerging Continent

Africa, with the world’s largest deposits of natural resources, emerging economies and emerging middle class is clearly going to need its generation Y to take the lead in “Development”. The African youth in Africa and in the Diaspora, are the perhaps the continent’s most valuable assets. However, in order for the youth to take charge and help in shaping their country’s future the following should happen:

1. Collaboration – Collaboration between
2. Transfer of knowledge
3. Policies that will enable the utilization of technology and the protection of Intellectual properties
4. Centers for Entrepreneurship – business incubations
5. Political Stability
6. A better education system

As the saying goes, “It takes a village to raise a child”, it will take each and every African to contribute towards the above stated goals. It is in this spirit that a group of young African students decided to start the conversation. The aim is to cultivate leadership from awareness to action.

Africa’s future advocating today:

CUNY’s University Student Senate, and various CUNY African Clubs are hosting the first-ever CUNY Young African Leadership Symposium on September 16-17, 2011.  The organizing committee of this conference is made up of African student leaders from Brooklyn College, City College, Brooklyn College Graduate Center for Worker Education, John Jay College and York College and CUNY and Columbia Alumni.

Goals:

1. Connect African professionals as mentors to undergraduate and graduate students in the US
2. Connect Young African Students to organizations that need volunteers or interns through
3. Connect young Africans to African resources that are available to them in New York City.

Background

African political leadership is at a crossroad.  The impact of young Africans demanding their voices is heard provides indication that Africa is on the verge of new horizons. Young leaders are history’s beacon of innovation and change. Thankfully, this is implies opportunity for responsible, aware and driven future African leaders. The Young African Leadership Symposium provides a platform to challenge and encourage the next generation of African leadership to rise to the occasion.

One explanation of this strengthening momentum is the growing number of Africa’s future leaders in pursuit of higher education at institutions across the globe. Despite their status as transplants, young African leaders remain connected to Africa in budding, diverse communities. This is especially true across college campuses in the United States, home to nearly 150, 000 African-born students.

The Rising Need for Young African Leaders

Young African leaders are needed to shape Africa’s future. In response to this need, the CUNY University Student Senate launches its first-ever Young African Leadership Symposium, an opportunity to engage Africans and friends of Africa in order to prepare for opportunities ahead. The key focus of this year’s symposium will be education in Africa, entrepreneurship and business in Africa, and building social capacity through technology and media. These workshops will each touch on African political leadership, social and economic opportunities, and increasing need to improve Africa’s healthcare, education, and quality of life.  We welcome participants from diverse backgrounds including community activists, educators, professionals, investors, entrepreneurs and students both natives and friends of Africa.

In designing the Young African Leadership Symposium, our hope is to engage others in a stand for a strong democracy, a demand for accountable and transparent governance and a consistent protection of rights for all.   It is our hope that conversations centered on these core values – particularly on issues of education in Africa, the budding business sector and increasing global influences like social media to encourage unity and integrity, rather than division and selfish motivation, in order to  build meaningful social capacity As the future of Africa, it is our charge to challenge our ideas and thoughts in appreciation of Africa’s diversity. As the future of Africa, it is our charge to challenge our ideas and thoughts in appreciation of Africa’s diversity.

Workshops:

1. Leadership: Leading in the 21^st Century

a)      Youth’s role in leading Social, Political and Economic Transformation in the 21^st Century Africa

b)      The role of  “adults” in unleashing talent and capability of the Youth

c)      Harnessing the power of young women in Leadership.

2. Entrepreneurship: African and the Final Frontier

a)      Support Infrastructure for Entrepreneurial Ventures and Business Incubation in Africa

b)      Innovation and what it means for the African Youth

3. Technology & Social Media

a)      Transforming Society through Media and Technology

b)      Cultivating social media for social movements

c)      The role of Youth and the development of cyber security

      4.      Education: Knowledge Infrastructure and Localization of Knowledge

a)      Scan Globally; Reinvent Locally

b)      Knowledge Creation

c)      Production of Knowledge

d)     Creating, Disseminating Knowledge

e)      Creating Knowledge and Leading Social Action

Speakers:

Folake Ayoola

Attorney-advisor

U.S. Securities and Exchange Commission

Ms Marie-Louise Baricako

Chair of the FAS Executive Board

Nada Mustafa Ali, PhD

International Consultant

Visiting Research Scholar,

Department of African and African American Studies,

Fordham University.

Kehinde A Bolaji 
Research Officer
Directorate of Political Affairs

ECOWAS Commission

Timothy Kalyegira

Journalist

Kambale Musavuli

Youth Coordinator, Friends of the Congo

Tukumbi Lumumba-Kasongo

Visiting Scholar @ Cornell University

Lynda R. Day

Endowed Chair: Women’s Studies Program

Brooklyn College

Vice Chancellor Sanchez

Sduduzo Ka-Mbili
Radio Producer and Dancer

Georges Nzongola-Ntalaja
Professor of African Studies
Department of African and Afro-American Studies
University of North Carolina at Chapel Hill

David Bassiouni Jr.

Managing Director,

The Bassiouni Group

Toyin Falola
Department of History
The University of Texas at Austin

Bertrade Ngo-Ngijol Banoum, Ph.D.
African & African American Studies
Director, Women’s Studies Program
Lehman College-CUNY

David Bassiouni

C.E.O. The Bassiouni Group

Christopher Zambakari

MentorShip:

CUNY YOUNG AFRICAN LEADERSHIP SYMPOSIUM is now in partnership with Afrometro (www.afrometro.com) for mentorship and other opportunities.

Program:

—- Day 1 —-

OPENING NIGHT: AMBASSADOR’S NETWORKING RECEPTION

We will be honoring African Ambassadors representing different countries of the continent.

ALL ARE WELCOME!

WHERE: CUNY Brooklyn College Graduate Center for Worker’s Education

25 Broadway, New York, NY

WHEN: Friday, September 16, 2011

6:00 PM -11:00 PM

—- Day 2 —-

WORKSHOPS/PANEL DISCUSSIONS

Leadership; Entrepreneurship; Technology & Social Media; Education

WHERE: CUNY Brooklyn College Graduate Center for Worker’s Education

25 Broadway, New York, NY

WHEN: Saturday, September 17, 2011

9:00 AM -6:00 PM

***After Party Reception*** September 17, 2011 venue TBA

For more information visit:

Facebook: http://www.facebook.com/event.php?eid=236193839732795

Twitter: http://twitter.com/#!/YALsymposium

Email: yalsymposium@gmail.com

Young African Leadership Symposium “Cultivating Awareness to Action”

*********YOU ARE CORDIALLY INVITED TO************
CUNY YOUNG AFRICAN LEADERSHIP SYMPOSIUM

THIS YEARS THEME IS CULTIVATING LEADERSHIP FROM AWARENESS TO ACTION

African Political leadership is at a crossroads. Recently, we have witnessed as young people took to the streets and demanded that their voices be heard. They demanded for change and as it stands, this is the time for young Africans to come together and deliberate on the question of “what is next?”


To answer this question we are calling out:

-All African or Africa centered non-profit orgs
-All CUNY African student Associations
-All seasoned AFRICAN LEADERS, PROFESSIONALS, INTELLECTUALS etc.
- ALL YOUNG AFRICAN LEADERS WHO ARE NOT AFRAID TO TAKE THE NEXT STEP FORWARD

OPENING NIGHT: AMBASSADOR’S RECEPTION
we will be honoring African Ambassadors representing different countries of the continent.

WHEN: Friday, September 16,2011
6:00p.m-11 p.m
WHERE: CUNY Macaulay Honors College
ADMISSION: free

WORKSHOPS/PANEL DISCUSSIONS
WHEN: Saturday, SEPTEMBER 17,2011
9:00 A.M- 5:00 P.M
WHERE: CUNY Macaulay Honors College
YOU DO NOT WANT TO MISS IT!!! SEE YOU THERE

RSVP: http://t.co/dvGdgGO Facebook: http://t.co/9U1hGrg Twitter: @YALsymposium (#YALsymposium)

The Coming Battle for Africa’s Internet

As new technology brings Africans online, everyone from Google to local developers are looking to seize the growing market

http://www.theatlantic.com/international/archive/2011/03/the-coming-battle-for-africas-internet/72491/

Satisfying Needs

True Innovation is helping in satisfying a need. To Satisfy a need we need to fully understand and personalize the problem. However, we cannot claim to be solving other people’s problems if the solution does not appeal to them.