February 5, 2015, Sandton, South Africa
The Afribiz Foundation, a social enterprise, announces the formation of Afribiz Trust. Afribiz Trust has a vision to “unlock the latent value in African ideas & resources to catalyze the African economy in the next decade and beyond, setting the stage for generational growth.”
Afribiz Trust is tasked with creating organizations of “trust” that leverage, as well as support and assist, ecosystems of stakeholders, contributors, and beneficiaries of African-related ventures, under-realized assets, etc. (collectively “projects”) This will unlock and maximize value in individual interests through collective contributions and collaborative partnership synergies.
“What all this means on a very practical level is that we are able to synergize assets of all types, including tangibles and intangibles like land and minerals currently held on indigenous land but underdeveloped, cash, relationships, knowledge, and equipment, in a formal, but fluid, structure to drive economic development,” says Lauri Elliott. “Of particular interest to us is that we are able to unlock the value that resides in indigenous African land and entrepreneurial enterprises that far exceeds most approaches applied to Africa to date on a large scale. Many approaches strip Africans of what they have instead of adding to them.”
Afribiz has been adapting principles of trust ecosystems to develop, catalyze, and manage diverse economic opportunities to the benefit of many over the last several years. However, it had not found a systematic, fluid structure and process that would allow the organization to formally resource and capitalize these opportunities effectively and dynamically.
This all changed when Afribiz established a relationship in 2014 with Kings Counsel and Trust (KCT), who has both the intellectual property and experience at hand. Both organizations are excited to announce their partnership on the African continent.
“Kings Counsel and Trust is pleased to have a working relationship with Lauri Elliott and Afribiz. Knowing the quality and experience they bring to working with local people, emerging businesses, as well as their focus on infrastructure for sustainable growth, we want to support Lauri and her entire team,” says Jim Dygert, Director of Membership Development.
Afribiz Trust will serve as a co-trustee for projects that Kings Counsel and Trust implements in Africa and is able to use KCT structures and systems for its own purpose in serving others. A recent endeavor of KCT is the Pan African Food Exchange, a project of COMESA.
The establishment of Afribiz Trust is a commitment of Afribiz, Kings Counsel and Trust, and other collaborators of resources valued at USD 3.5 million in just the next year to 18 months. This commitment will enable the Trust to operate in all five regions of Africa, bringing together the resources and capital needed for projects and ventures across the Continent. Afribiz is also currently building the base to bring at least $450 million in resources for early to late stage projects in development in the energy, manufacturing, agriculture, and infrastructure sectors, as well as the establishment of Afribiz Accelerators to support entrepreneurs and entrepreneurial ecosystems on the Continent.
Learn more about Afribiz Trust here.
Office of Group Chairman, Lauri Elliott
+27.11.083.8422 (South Africa)
Afribiz is a family of companies, representing an ecosystem economy. Afribiz serves as a lead orchestrator of the new global economy with Africa at the center. Afribiz companies and organizations include The Afribiz Foundation, Afribiz Group, Inc., Afribiz Ventures South Africa, Afribiz Kenya, Afribiz Ventures, Inc., Afribiz Trust, Afribiz Accelerators, Afribiz Intellimedia, and Afribiz Trading.