ICA AFRICA ENDOWMENT TRUST FUND
“AN OPPORTUNITY TO INVEST IN THE FUTURE OF THE CO-OPERATIVE MOVEMENT IN AFRICA”

ABOUT ICA AFRICA

ICA Africa is the one of the regional offices of the International Co-operative Alliance which serves, unites and represents ICA's member organisations in Africa. ICA Africa promotes and strengthens autonomous and viable Co-operatives throughout the region by. For more information, visit ICA Africa.

RATIONALE FOR THE ENDOWMENT FUND

Historically the Office was supported by a membership of economically and financially sound Co-operative federations and unions that were drawn largely from the agricultural commodity trade sectors, consumers services and banking services. In the past two decades, with liberalization of agricultural commodity trade and other economic sectors in Africa, the movement has declined.

The ICA Africa Members Forum held in May 2008 took account of both historical and current constraints and considered the Endowment Trust Fund as the most appropriate intervention that would address the financial sustainability and autonomy issues of ICA in Africa.

LONG TERM SUSTAINABILITY

The establishment of this Fund will have far-reaching benefits both to the ICA Africa Regional Office as well as to the members of the Co-operative movement in Africa. It will confer to the Co-operative movement in Africa more flexibility in responding and adapting to changes within the global movement. It will enhance the esteem of the African Co-operative movement by removing the need for it to be perceived as depending largely on external donations.

The establishment of the Fund will give stability to ICA Africa because the office will have the resources to attract professional management staff who will add value to the Co-operative movement in the Region.

ABOUT THE FUND

The recommendation to establish the Endowment Trust Fund was approved at the ICA Africa Regional Assembly meeting held in Abuja, Nigeria in November 2008 and formally endorsed for implementation at the Regional Assembly meeting held in Maseru, Lesotho in October 2010.

The ICA Africa Endowment Trust Fund has been registered as a separate entity with a Board of Trustees nominated by the Regional board and approved by ICA Global Board. A trust deed has been created that outlines all matters of operation of the trust fund and its governance, sources of funds, application of funds, etc. The funds received will be managed by professional fund managers. Income received from investments and interest will be used to carry out the ICA Africa strategic plan.

Services to member organizations will continue unhindered with an assured source of funding. The Endowment Trust Fund will cushion the regional office against uncertainty of funding for both operational and developmental engagement with stakeholders.

INVESTMENT PORTFOLIO

The Endowment Trust Fund will be capitalized by member organizations, the Co-operative movement, development partners, foundations, government agencies, individuals, and people of good will. Assessment of funding requirements indicates that establishment of the ICA Africa Endowment Trust Fund requires seed capital of USD 4 million to sustain its operations in the long term. Governments in Africa have committed to contribute at least one hundred thousand (100,000) USD each towards capitalization of the fund, while member organizations have committed to contribute at least twenty thousand (20,000) USD. We invite you to support this noble  initiative of making ICA Africa Regional office self-sustainable. The fund is growing steadily and by end of December 2012 stood at USD 235,000.

DONATE TODAY

All organizations contributing in the initial capitalization of the Fund will be recognized in the roll of honour, appear in all publicity materials, and be announced at the ICA Africa Regional Assembly and membership for a Continentally and Globally. Please send your contributions to the following account which is specifically reserved for the ICA Africa Endowment Trust Fund.

Bank: Cooperative Bank of Kenya Ltd. Account Number: 021 00000 555200
Account Name: ICA Africa Endowment Fund
Address: Co-operative House Branch
Haile Selassie Avenue
P.O. Box 67881
Nairobi 00100
Kenya
Swift Bank Code: K-COO-KE-NA

MORE INFORMATION

ICA Regional Office for Africa
House No. 95, Dam Estate off Lang’ata Road, P.O. Box 67595
Nairobi 00200 Kenya
Tel: +254 20 2711959, + 254 20 600 76 20/600 54 47
Email:  ica@icaafrica.coop
Website:  www.icaafrica.coop