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