The African Community Investment Cooperative Ltd (ACIC) is a for-profit cooperative that aims at raising collective consciousness, building, preserving and managing community assets to improve the economic wellbeing of all persons of African heritage. ACIC intends to achieve these through the provision of financial education and collective investment into the real estate and some government bonds. ACIC also pays specific attention to the purchase of historic sites within African communities.
ACIC is for all persons of African ancestry covering the Caribbean, Indigenous persons of African descent and all those from geographic location of the African continent irrespective of residence.
ACIC would be run by a conscious 15 member community board. Members would be representatives of indigenous persons of African descent, of Caribbean, of Western, of Central, of Eastern and of Southern African sojourn in addition to 6 trustees. ACIC and its membership is categorized alongside 4 committees; namely executive, advisory, research and socials &communications. Committee membership is determined by skills, interests and abilities. Two seats in the committee would be reserved for the African Diaspora Association of the Maritimes as the custodian of the coop but would have its own separate account with a designated bank and independent auditor. Committees have their own leadership in addition to volunteers that help execute specific committee roles and responsibilities in line with skills, interest and professional experience.
The African Community Investment Program-(ACIP): Piloting the African Esusu Model
To provide a platform that enables collective investments into real estate, treasury bills, government bonds and other low and guaranteed investment
To partner with relevant organizations to develop an efficient accountable and transparent operational system to manage collective contribution, collective investment and communication between members and the Cooperative
To promote individual membership contribution into a collective pool for collective investment
To invest contributions from members into real estate, treasury bills, government bonds and other low and guaranteed investment
To apply profits towards capital growth, emergency relief and retirement of individual members of the coop.
To apply percentage of profits towards building an accessible financial base to meet the needs of the community and members.
For details or to join the program, pls visit www.acicc.ca or pick up registration form