Thursday, October 19, 2017

Empowering Economic Investment in the Horn Region of Africa

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Aims and Objectives

The C.I.C. aims for exemplary performance through trust and verification of its key operating principles. The leaders of host communities shall – following an interim establishment period of capacity building – be responsible as the long term electors of the Board of the C.I.C..

The C.I.C. model contract between investor and community is based upon the practices of the international fund management sector and serves to protect both parties. For the investor, this includes recovery of capitalised costs and operating expenses followed by an agreed distribution of future cash flow between the investor and the C.I.C..

The C.I.C. remits earned funds to the local host Communities under oversight and approval of the independent Regulator, as required under the UK 2006 Companies Act for Community Interest Companies.

All members affiliated with the C.I.C. will adhere to the following operating principles:

  • The World Bank anti-corruption guidelines and transactional transparency principles will be applied.
  • The Board will oversee transactions through regular assessment of financial, developmental and reputational risks.
  • The C.I.C.’s procurement policy shall be non-discriminatory.
  • Projects will take due regard of local customs and practices.
  • High standards of disclosure to investors and host communities shall be consistently applied to ensure local host communities will receive competitively-based transaction value. 

 

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