Article

GOWA (Gospel and Work for All) With the Diaspora to Create National Funds

Author: Frank Karlsen
Date: 16.10.2010
Category: Workplace Ministry

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GOWA International with its representative Daniel Batige in Cape Town would like to invite Christians from the whole world to involve in the creation of for profit national funds in Africa in order to prepare the ground for sosial entrepreneural processes in order to to se a real wave of missionaries and tentmakers from Africa. This have to go together with the establishment of 24/7 prayer rooms all over Africa following in the steps of Jesse Karanja and Gospel Prayer Centers: gospelprayercenter.org.

Président National & Représentant of ECC; Legal Eveque Marini Bodho, Joshua Bulambu Lembelembe the Rafto Prize winner of 2008, Rev. Milenge Mwenelwata representing Eglise du Christ au Congo (ECC) Diaconie and GOWA Norway/International represented by Pastor Ougene Bujirire, CEO Daniel Batige and CEO Professor Frank Karlsen would like to invite private and official investors and in particular all Congolese people living abroad to participate in the construction (investment in) of a commercial fund to create more Trade and Industrial freedom for the people in the KIVU area (including east DR Congo). The KIVU fund is also ready to invest outside of the KIVU area when the fund organization is ready for it.

The KIVU Fund

The commercial KIVU fund will be established as a separate foundation 100% owned (in the beginning) by Congolese people, GOWA and ECC. ECC will elect a Board of Directors within the ECC organization together with the board of directors of GOWA International that cooperated with GOWA International NGO to establish this fund. 51% of the shears must always belong to the Congolese people. The Owners, The expert team and GOWA International will have the possibility to participate in the general assembly. All investors in the KIVU fund will be owners of the KIVU fund. However, the Board of Directors must secure that the amount of ownership of none Congolese Investors is not passing 49% of the investors (The best is to keep the none Congolese ownership below 30%). The general assembly together with the commercial ECC committee elects 5 new directors to the board every 4 year. Two representatives from GOWA International have to participate in the Board of directors. The board of director’s employees the Expert team: CEO (Chief Executive Officer), CFO (Chief Financial Officer) and CTO (Chief Technical Officer). The KIVU fund administration must work in close cooperation with GOWA International and GOWA Norway.

The Kivu fund will support different microfinance initiatives in KIVU following normal microfinance rules and organization defined by the Norwegian Jetro group. The Kivu fund should invest in Congolese companies but with no more than 49% in order to maximize the motivation for the original founders. The KIVU fund foundation wants to establish a fund with the size of 100 million Euro starting with a share flotation of 10%.

Operation of the KIVU fund

The organization

The main target for the Congo fund is to promote microfinance and direct investment projects/companies in DR Congo and in particular the KIVU area. The Chairmen of directors for the Congolese part of the fund must in the beginning be Joshua Bulambu Lembelembe. He will be chairman over a number of directors (5 person) carefully selected among Congolese Christian leaders in KIVU and DR Congo and 2 persons from the GOWA International board. The daily supervision of the fund must be lead by a number of different business and microfinance experts in DR Congo in particular from KIVU. They will be lead by the CEO, CFO and CSO in close cooperation with GOWA International group. It is a great benefit that these experts have a strong linkage and membership in one of the churches within ECC. These experts have to except every new investment objective below 20 000 Euro. In addition the expert team (organized by GOWA Norway) from Norway has to accept all the investments larger than 20 000 Euro. The Board of directors in the KIVU fund will receive normal honorarium according to international standards. The experts from DR Congo will be employed according to their success of the supported companies. The experts from Norway will get a normal international honorarium for each project they evaluate.

Figure 1: The Organization behind the KIVU FUND

The transfer and control system

Any new company has to accept one of the members from the expert team and one of the members of the GOWA group to participate in their board. Any new company has to report to the expert team every quarter. The administration of a new company has to have a meeting with the expert team and one member from the GOWA International group every month in the first half year, two times the next half year and once a year after that. Before any money is invested in any new or old company the business and communication plan has to be accepted by the expert team, the GOWA International group and the board of directors. If the investment money is more than 20 000 Euro the expert team from GOWA Norway has to accept it in addition. Before any money is transferred every person in the administration, in the expert team, in the GOWA International (or GOWA Norway) and board has to give their signature. In addition an e-mail is sent out to the expert team in Congo, the GOWA International, GOWA Norway and the board of directors given the exact amount of money transferred and when and where it is transferred to. The bank receiving the money has to give full report back to the expert team about the transfer. Only a limited amount of money is transferred to the user account of the company every month. This have to be secured by the CEO and the board of directors of the company invested in. The board of directors and the expert team of the KIVU fund should secure that at any time corruption is impossible.

Figure 2: The decision route for the KIVU FUND before any money can be spend

The KIVU FUND

Main objectives:

To establish self sustained organizations and profitable companies/working places within the KIVU area that have at least 51% Congolese/KIVU people ownership or preferable 80-90% Congolese/KIVU people ownership

Important sub objectives

1. To prepare a communication and business plan and present it for potential investors

2. Invite Congolese people living abroad to invest in the Kivu fund – activate the development fund in Norway to invest the same

3. To secure future oriented and ethical use of the resources within Kivu and DR Congo.

4. To secure optimal and most cost effective business activity in Kivu – development of optimal and full range entrepreneurial and business education

5. To optimize the creation of infrastructure to the best for the Congolese people

6. To help the churches in Kivu to change the society – To make the Kivu the first developed area in Africa

7. To establish as many working places as possible within Kivu.

Vision

To be the leading provider of capital to the establishment of establishment of Congolese and KIVU people owned companies and working places in East part of DR Congo.