A new report has revealed that Africa’s 43 million displaced people generate an estimated $27 billion in annual income, presenting what experts describe as one of the continent’s most overlooked private sector investment opportunities rather than a humanitarian burden.
The report, Hiding in Plain Sight, published by the Amahoro Coalition, is the first comprehensive analysis of Africa’s displacement economy as a private sector investment opportunity.
It examines five sectors where displaced populations are already economically active and estimates the continent’s total addressable market at $27 billion annually.
The report shows that 56 per cent of displaced people are actively engaged in economic activities, with significant opportunities across agriculture, finance, manufacturing, entrepreneurship, and supply chains.
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It estimates a $2.4 billion potential agricultural output if land policies are reformed, a $3.2 billion opportunity in formal financial services, $720 million in annual supply chain logistics, $4.1 billion in earning potential from 3.4 million displaced-led businesses, and $2.8 billion in annual manufacturing output from 1.5 million displaced workers.
According to the report, displaced entrepreneurs fail at one-third the rate of businesses owned by host communities, while fewer than 10 formal financial providers currently serve 27 million displaced people despite 852 banks competing for mainstream consumers.
Stakeholders in Nigeria’s agricultural and private sectors said the findings underscore the need to change perceptions of internally displaced persons (IDPs), urging businesses to see them as contributors to economic growth rather than recipients of aid.
Speaking at the launch of the Amahoro Coalition’s West Africa report in Abuja on Thursday, Strategy Custodian for Partnerships at Amahoro Coalition, Tito Mbathi, said Nigeria’s estimated 3.7 million internally displaced persons represented a significant investment opportunity, particularly in agriculture.
He noted that the figure could be much higher, with the National Commission for Refugees, Migrants and Internally Displaced Persons estimating the country’s displaced population at nearly seven million.
“We do not want this conversation to focus only on aid. We want to have a commercial conversation. We want to discuss investment potential and explore how the private sector can address displacement through sustainable economic participation,” he said.
Mbathi said the coalition’s research showed that giving displaced people access to the same productive resources available to other citizens could unlock an estimated $2.4 billion opportunity in Africa’s agricultural sector.
He observed that Nigeria’s northern region, despite being the country’s agricultural hub, also hosts the largest concentration of displaced people.
“These are people with decades of farming experience. The knowledge has not disappeared because they were displaced. The expertise remains. The opportunity is to support them in applying that knowledge while strengthening agricultural value chains,” he added.
He further disclosed that Amahoro had partnered with the Bank of Agriculture to establish Nigeria’s first lending desk dedicated to internally displaced persons, while also collaborating with the National Commission for Refugees, Migrants and Internally Displaced Persons and private sector organisations to improve access to finance and markets.
Also speaking, West Africa Private Sector Partnership Lead at Amahoro Coalition, Fredrick Deegbe, said the coalition works with businesses by aligning displaced communities with existing commercial needs.
“When we engage the private sector, we are not asking them simply to give jobs. We first understand their business model, where they are, what works for them and how displaced communities can become part of that growth,” he said.
Deegbe stressed the importance of practical interventions over broad statistics. “Sometimes one ginger seedling can change someone’s life. Instead of talking only about big numbers, let us show practical opportunities that can restore livelihoods,” he said.
He added that the coalition was also exploring opportunities in digital skills and renewable energy as additional pathways for employment among displaced populations.
President of the Nigeria Agribusiness Group, Kabiru Ibrahim, urged stakeholders to embrace innovative approaches capable of transforming displacement into economic opportunity.
“I came here with an open mind because I wanted to understand how displaced people could become part of business opportunities. We should recognise the possibility of creating value from adversity and make Nigeria better despite the challenges of insecurity and displacement,” he said.
He noted that estimates presented during the event suggested Africa had over $47 billion in untapped economic opportunities linked to displaced communities, with agriculture accounting for about $2.4 billion.
Chairman of AgroLog Ltd, Manzo Maigari, said insecurity had displaced thousands of smallholder farmers, making it necessary for businesses to redesign their operations to accommodate affected communities.
“Businesses must naturally adapt and restructure to accommodate internally displaced people. When people move, their livelihoods move with them. The question is what we do to restore those livelihoods,” he said.
Maigari cited a livestock intervention in Benue State to demonstrate the economic potential of targeted support for displaced households.
“I can tell you authoritatively that there was no family that did not make about two million naira within 12 months from that one female piglet,” he said.
He also referenced the devastating ginger disease outbreak in parts of Kaduna, arguing that people who lose their livelihoods through disasters face challenges similar to those experienced by internally displaced persons, reinforcing the need for inclusive business models that restore incomes while strengthening agricultural value chains.