Challenge
Many African social entrepreneurs have strong ideas to create social change in their communities, and early success. However, they lack the funding they need to grow. Unlike entrepreneurs in wealthier countries, they often cannot rely on family support, and often struggle to obtain loans because banks and investors see African markets as too risky. The problem is only becoming more severe: since 2022, venture capital funding to Africa has decreased by 53%.
Black entrepreneurs in the U.S. (members of the African diaspora) face similarly systemic funding challenges. Currently, they represent only 1% of venture-backed businesses in the country.
Solution
The African Diaspora Innovation Fund (AfDIF) is a project by the African Diaspora Network in partnership with Myriad USA. AfDIF raises money from networks of Africans and diaspora members, then provides small, flexible grants (up to $25,000) to early-stage African- and diaspora-led businesses.
Grantees must be revenue-generating, must have been operating for at least 6 months, and must show signs of early traction. They must be fully African-owned and headquartered on the continent, or led by diasporans if based in the U.S. They must be creating positive social impact and they ideally use technology to strengthen their impact.
90% of funds raised go directly to entrepreneurs. The rest covers administration and impact tracking. Donors who give more than $500 may take part in selecting which ventures receive funding.
Last update: 2025
Impact
AfDIF launched in 2025 with an ambitious goal: to raise $2 million by the end of 2026, and to use those funds to help social entrepreneurs grow their impact.
Over time, AfDIF aims to make it easier for African and diaspora-led businesses to access the funding they need to expand, create jobs, and solve pressing community challenges. The ultimate vision is simple but powerful—every social entrepreneur with a promising idea should have the funding they need to make a lasting difference.
Leadership
Almaz Negash
Founder and Executive Director
Almaz Negash is a social entrepreneur and connector with over 25 years of leadership in international development, business, and philanthropy. Born in Eritrea and based in Silicon Valley, she founded the African Diaspora Network in 2010 to create a home for diaspora leaders who wanted to give back with integrity and impact. Her work has been recognized globally: she was named one of the "100 Influential African Women" by Avance Media and served on the Advisory Committee for the United Nations Economic Commission for Africa.
