Guest-blogger and economics writer for America.gov Andrzej Zwaniecki talks about U.S entrepreneurs targeting business in Africa.

If you need proof that countries in Africa can experience economic renewal don’t look further than these blogs by finalists of the African Diaspora Marketplace business plan competition and their recent Web chat (http://www.savorchat.com/chat/african-marketplace). These entrepreneurs are competing for seed money to start businesses in their home countries. The joint ventures between U.S. entrepreneurs of African origin and their partners in Africa range from a virtual marketplace for small farmers to business development services for small businesses to clean, on-site power generation for larger companies. Winners will be announced January 13.

The entrepreneurs target markets in Africa because they know them best and because that’s where great opportunities are. They face serious challenges in sub-Saharan countries such as poor transportation and electrical infrastructure. Yet they are willing to take a higher-than-average risk driven by a desire to contribute to the development of their home countries. Many are accomplished individuals – some run their own firms, others have successful professional careers. They could have rested on their laurels. But an entrepreneurial individual can hardly resist a temptation to seize an opportunity when he or she sees it.

As small businesspeople without big money, they sometimes must persuade officials and potential customers in target markets they can leverage their skills and experience to a great effect.

Many African nations have come to appreciate the asset their diasporas represent and are soliciting their opinions on a range of issues from business regulation to investment policies. Although the diasporas by themselves won’t do economic miracles in Africa they definitely can help prepare the ground for accelerated development by spreading the culture of private initiative and innovation.