Ujamaa Investment Circle
Admin Board Conference Call Minutes
06/09/2016 12:44pm-2:26pm
Call Participants:
Jamaine Wells ( April Round I Winner, New Admin Trainee)
Akosua Akoben & Joy Oba-Rolland (July Round IV recipients, UIC Admin)
Melody Powers (August Round VI recipient, UIC Admin)
Immanuel Lee (prospect)
Jamiliah Campbell (prospect)
- Welcome/Introductions
- Each participant introduced themselves, how they found out about UIC and explained why they joined (We are asking our members to write up a short bio including how and why you joined UIC and what your aspirations are for this project)
- Celebrate recent Susu Winner’s
Jamaine Wells (April 9th 2016)
Charmlin Howard (May 9th 2016)
Adwoa Ferguson (June 9th 2016)
- Who We Are:
We are an investment group first! We hope to pool $15,000 for investment capital by 2018!
- At least 10 Circle Members * 10 Circles=100+ members
- $50 per member annually *10 Circles members= $500
- $500 investment funds * 10 Circles= $5,000
- $5000 total investment * 3 years= $15,000
- Black Bank matching investment funds= $30,000 Total investment capital
We know that $ can be hard to free up for investing, saving and sharing so we added the Susu component of $35 monthly contributions, paying out $350 per year. $50 can pay for our annual investment and the rest can go in your savings for three years for a savings of $900!
- Investment Proposal Guidelines (proposal questions):
- What need does it fulfill?
- How much will you need to get started?
- Projected monthly expenses?
- Estimated time frame of profit (return on investment)
- What population does this appeal to?
- (Please add more questions)
Some of the needs we suggested on the call are: Food Security, strong workforce, housing, education, health…(please suggest more needs)
- Goals
- Inquire about recurring payments on Bbnomics campaign By Monday June 13th
- Create advertisement for UIC on Facebook ($5 limit 7 days) & other social media platforms before the end of Round IV
- Develop a more effective promotional platform for annual $50 investments By July 9th 2016
- Inquire about recurring payments on Bbnomics campaign By Monday June 13th
- Reach our 10 member goal by July 9th
- Reach our Admin goal of 10members & naming our circle(s) by 01/05/2017
Upcoming Events:
October 7th 2016 semi-annual report/review