For strategic reasons, Afrocom is incorporated as cooperative society (in AU, EU, US). This implies that we the members (by an agreement) decide on all matters of the entity without the massive governments oversight that comes with NGOs. As in any partnership, the current one means shared equity, veto and responsibility but importantly in our situation is, its representativeness of the continent and manageability.
Equity and Veto
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Using the 80/20 principle
Thus 80% of revenue goes into investing in the black community and remaining 20% to the people doing the work
- Grassroot communities
- Ubujima & Afrocom user communities of family, friends, colleagues, etc.
- 80% of afrocom profits goes into investing in Ubujima’s community projects
- 80% veto stake in all decisions
- Change-makers :
- the founder, founding partners, investors, team & contributors
- with the exception of investors each person is paid universal salary of 20$ per hour
- 20% is the incentive and veto distributed as per
- Founder – 20% of the 20
- Partners (5 – 10) – 20% of the 20
- Investors pool – 20% of the 20
- Team & Contributors – 40% of the 20
As non profit, each partner receives regular pay-roll based on the $$ and US market rate for that particular role.
Our profit will constitute:
– Retained earnings 80% – reinvestment into non-IT & IT related further projects.
– Partner’s equity of 20% – distributed as an add-on to standard payroll
The one-year vesting schedule contains a six-month ‘cliff,’ which precludes any equity member from vesting any equity until the 6 months mark, at which point 50% of the individual’s equity is vested.