There is a European asset for refugees. It doesn’t cover all the expenses, but all the recent governments have wasted a huge amount of money in other projects. There is also a problem with tax evasion and corruption. There would be money, if only the government decided to take action against these issues.
The idea of investing money in Africa is good - but if it's not done well, it could turn into a collaboration with governments that will just imprison refugees in countries like Libia, which is often being accused of several human right violations in refugee's camps.