The
GABM ‘Adopt an Entrepreneur’ Program
through the GABM African Entrepreneurial Development Fund, initiated in
September 2005 in support of entrepreneurship development globally, is another
development program in which associate members of GABM can seek to foster
responsible corporate citizenship.
With
the emphasis on micro business investment and finance in the secondary economy
and informal business sector, the ‘Adopt an Entrepreneur’ Program has the
potential to turn subsistence farming and small entrepreneurial ideas into a
substantial amount of viable and sustainable employment opportunities, and
alleviate poverty in the process as well as contribute to other vital social,
economic and environmental considerations.
To
date, the $125-Million US Dollar GABM African Entrepreneurial Development Fund
has allocated $45-Million US Dollar to the ‘Adopt an Entrepreneur’ Program,
which has sponsored more than 20 000 subsistence farmers and small
entrepreneurs in 35 African countries.
GABM
aims to allocate another $50-million US Dollar from the GABM African
Entrepreneurial Development Fund to at least 30 000 more subsistence farmers
and small entrepreneurs in the next financial year.
As
one of GABM’s ongoing two long term philanthropic programs, the objective of
the ‘Adopt an Entrepreneur’ Program is to develop and fund subsistence farmers
and small entrepreneurs that will take responsibility for their own lives by
generating sufficient income for their respective families’ needs and
requirements, thereby ultimately alleviating poverty amongst the millions of
poor Africans in communities where it is needed most.
By
being involved with GABM’s ‘Adopt an Entrepreneur’ Program, sponsors benefit
from the immense satisfaction of being actively involved and part of a process
that empowers ordinary people with self respect and dignity as a result of
becoming self reliant small entrepreneurs who can in future take care of
themselves.
GABM
urgently needs more sponsors for its ‘Adopt an Entrepreneur’ Program. A
database of energetic and dynamic entrepreneurs and their business ideas are
being updated from which associate members of GABM can make a selection.
To apply:
Applicants
should complete the 'Adopt an Entrepreneur' Program, Application Form, which is
available on the 'Downloads' section of the website, or click here…
Program Criteria:
- Sponsors need to be associate members of GABM.
- Financing of projects ranges between $1 000 US Dollar and $10 000 US Dollar.
- Financing transaction and interaction is directly between the sponsor and the ‘Adopted Entrepreneur’ (GABM only facilitates the introduction between the two parties.)
- Contributions by sponsors can be structured as a donation or an interest free loan.
- Generally, this kind of financing is done without any contractual agreements.
- Typical projects include but are not restricted to, informal commercial enterprises, agricultural and local tourism activities.
Procedure to participate as a sponsor:
- Associate members of GABM who are interested to participate in the 'Adopt an Entrepreneur' Program can do so by written request to the Board of Executives of GABM.
- The request must be in English and must contain your GABM associate membership number.
- The request must be e-mailed to info@gabm-pinc.com
- These associate members will be registered as sponsors of the ‘Adopt an Entrepreneur’ Program.
- The Board of Executives of GABM will introduce a possible selection of short listed young entrepreneurs as candidates to the sponsors for selection.
Reporting:
- The adopted entrepreneur reports directly to the sponsor in accordance by mutual agreement.
- Sponsors however will provide GABM’s Board of Executives with a quarterly progress report on the activities of his adopted entrepreneur.
- The quarterly progress report must be in English and must contain the sponsor’s GABM associate membership number.
- The quarterly progress report must be e-mailed to info@gabm-pinc.com
