Mobilizing the diaspora as a driver of development
The Forum Diaspora Impact – Senegal 2026 was held in Dakar on March 24, 2026. Participating organizations included the Embassy of Canada to Senegal; the Ministère de l’Intégration africaine, des Affaires étrangères et des Sénégalais de l’Extérieur; the Délégation générale du Québec à Dakar (DGQD); the International Development Research Centre (IDRC); and Desjardins International Development (DID), represented by Gerardo Almaguer, President and CEO of DID, and Louise Bergeron, Vice-President, Director Support and Caisse Governance at Desjardins Group.
The event brought together public sector stakeholders, financial institutions and diaspora representatives to explore new ways of mobilizing resources and strengthening development financing in a global context marked by a decline in public funding and a financing gap.
Rethinking development financing in a changing context
As Momar Talla Ndao, secretary of state for housing and representative of the secretary of state responsible for Sénégalais de l’Extérieur, noted: “We operate in an international environment marked by a deficit in development financing, coupled with a gradual reduction in official development assistance. Considering this situation, we must rethink our models, and innovate and mobilize new resources, among which the diaspora plays a central and strategic role.”
In Senegal, the diaspora has significant power. In 2024, remittances exceeded 10% of the country’s gross domestic product (GDP), totalling more than 2,200 billion CFA francs—an amount greater than official development assistance. Beyond the flow of capital, the diaspora is also a strategic reservoir of skills and expertise, capable of supporting economic development, knowledge transfer and innovation.
Mobilizing the diaspora: between potential and strategic force
Discussions at the Forum highlighted that the diaspora is no longer just a source of potential. It is ready to invest, launch businesses and actively contribute to its country of origin. Discussions emphasized the importance of trust, project structuring and support through clear institutional frameworks and appropriate mechanisms.
DID presented the findings of a study on innovative financial mechanisms to mobilize capital from the Senegalese diaspora in Canada. Gerardo Almaguer, President and CEO of DID, underscored: “There is no single solution that meets all the needs of the diaspora.” The analysis recommends prioritizing interventions, segmenting diaspora profiles, solidifying institutional trust, measuring and publishing results and aligning expected returns with market realities.
During the same panel, Louise Bergeron highlighted the diversity of backgrounds and investment capacity within the diaspora. She also noted that the core value of solidarity can influence saving capacity, which is an important consideration when designing tailored solutions.
In this context, several courses of action were proposed for the banking sector: (1) structure projects to facilitate investment and mitigate risk, (2) strengthen blended finance and risk-sharing and (3) simplify customer journeys.
In conclusion, the panel demonstrated that the barriers to effectively mobilizing diaspora capital are now well understood, and, importantly, can be overcome. The challenge is no longer analysis, but action.
DID reaffirms its commitment to the diaspora and will continue this work beyond the Forum, to turn diaspora potential into productive investment, skills transfer and sustainable innovation, thereby contributing to Vision Sénégal 2050.