Governance


Our belief is that we maximize the value AfricaSIF.org brings by maintaining a long-term focus. The Global 100 NGOs in 2013 by the The Global Journal focused on the three criteria used consistently over years: innovation, impact and sustainability. Rather than thinking about ways in which we can create short-lived events or news snippets each quarter, we focus on serving our partners, members and stakeholders in Africa and delivering the most relevant network, knowledgebase and advocacy as robustly as we can. AfricaSIF.org believes that we are building an organization that will create a better Africa by providing the best efforts and experience, not just for our stakeholders in the investment value chain, but ultimately for all Africans, today and for generations to come.



GOVERNANCE

AfricaSIF.org approach to governance is ultra-transparency. AfricaSIF.org will post all our workings to africasif.org, and track activities through @africasif streaming to our homepage.  In forthcoming updates to this section of our website,  we will explain how we work, briefly mention several policies and steps we've taken to protect our long-term interest, in accordance with good governance and in the spirit of transparency and inclusiveness. We also ask all AfricaSIF.org project team members to sign an NDA, and all Members to sign the AfricaSIF.org Pledge to maintain the best interests of the projects and organization at all times.

Our Africa-based legal counsel Webber Wentzel, in association with Linklaters, are guiding the legal  incorporation process, and will advise on all legal aspects of our organization and its relationships with partners, stakeholders and service providers.
We thank our legal counsel from Candice Meyer, Partner at Webber Wentzel, and her team including Nomxolisi Siyakatshana for their help on this journey.

Our legal and governance structure is moving from informal project-based to institutional as we are in process of registering in South Africa as a non-profit company with members, as defined in the Companies Act, 2008 in South Africa. In future, with our legal counsel's support, we will explore registering in other jurisdictions (for example, the US, UK or Europe) to facilitate our activities and membership with the African diaspora and partners.

See also AfricaSIF.org PLEDGE
LEGAL REGISTRATIONS

AfricaSIF.org is registered in South Africa as a non-profit company with members, as defined in the South Africa Companies Act, 2008 Africa Sustainable Investment Forum was registered on 20 March 2013 under registration number 2013/047927/08, see registration certificate from the Companies Intellectual Property Commission of South Africa. As resources become available, seeking to be registered as a not-for-profit in other countries where investment centres dealing with Africa are, and within administrative constraints, in other African countries. Where practical and legally permissible, AfricaSIF.org may register in other African countries, in support of our mission and to execute our program of activities. The Memorandum of Incorporation (MOI) in accordance with section 13 (1) for a non-profit company (NPC) with members providing, as defined in the Companies Act, 2008, with the following:


OBJECTIVES

a. to be a pan-African knowledgebase, network and advocate for integrating environmental, social and governance factors in all investment decisions;
b. the promotion of sustainable investment in Africa;
c. the facilitation of investment in Africa that integrates environmental, social and governance factors;
d. the conducting of research in the investment industry;
e. connecting investment decision makers;
f.  the growth of knowledgebase with research;
g. the facilitation of sharing best practices in sustainable investment;
h. the provision of services and opportunities for members to work together to align investment profitability with social and environmental responsibility;
i.  the provision of information on Africa and investing in Africa to policymakers and international organisations;
j. the facilitation of sharing ideas and information by investment practitioners;
k. the collaboration on investment analysis of companies in assessing their environmental, social and governance performance;
l.  the provision of training in the investment sector;
m. to be a knowledge bank for sustainable investment work and collecting existing and future sustainable investment work;
n. to act as a repository for multimedia reflecting the state of sustainability and responsible investment in Africa;
o. the hosting of international events on sustainable investments;
p. the provision of funds, assets, services or other resources by way of donation or loan at no charge to any public benefit organization or organization which conducts one or more public benefit activities; and
q. any other public benefit activity as set out in the Ninth Schedule of the Income Tax Act No.58 of 1962 ("Income Tax Act") as may be amended from time to time.



TAX STATUS

AfricaSIF.org - Africa Sustainable Investment Forum - must be registered firstly in terms of South African law as a Public Benefit Organisation ("PBO") so that it can acquire tax benefits for donor funding. AfricaSIF.org must apply to the South African Revenue Services Tax Exemption Unit in order to qualify for PBO status and the Commissioner will approve its status as a PBO if its sole or principal object is to carry on one or more of the public benefit activities listed in the Income Tax Act.  Section 10(1)(cN) introduced the concept of a “public-benefit organisation” that conducts approved “public-benefit activities” [see http://www.sars.gov.za/home.asp?pid=1833]. The MOI was drafted with the intention of compliance with the requirements for PBO status.

As AfricaSIF.org grows its mission promoting sustainable investment in Africa, we will seek partners and legal counsel to allow for members and supporters to join and donate tax effectively.





DIRECTORS

The Directors of AfricaSIF.org are guided by their duties and expectations, as advised by our legal counsel. See DIRECTORS.

About WEBBER WENTZEL

Webber Wentzel is one of the leading corporate law firms in Africa. With offices in Johannesburg and Cape Town, the firm provides high-quality service to meet the multiple and varying needs of a powerful client base that includes many of the South Africa’s Top 100 companies in mining, banking, insurance, media, property and telecommunications. Webber Wentzel has a staff complement of 750 people and a Level Three B-BBEE rating. Its 21 practice groups cover virtually the entire spectrum of legal endeavour. Work on the African continent represents a  growing area of Webber Wentzel's business and the firm is now the South African member of ALN (Africa Legal Network), an established group of Africa’s 12 foremost law firms.

For more information visit www.webberwentzel.com.
Follow Webber Wentzel on Twitter: @WebberWentzel.