Finance
Since starting operation in 2007, ICAfrica has focused on
the idea of solving poverty problems in Africa, through
assisting entrepreneurs, especially the poorest women
entrepreneurs to use their God-given talents to grow their
businesses, produce more economic earning and create jobs
for themselves and others. More than any other international
NGO, ICAfrica is a leader in maximizing the development
impact of each dollar we spend. Every dollar we receive is
carefully spent directly to economically
empower very impoverished women in the villages of Africa.
Our financial performance is
measured by the number of people - children, youth, adults -
we have assisted to get out of poverty and looking after
their own economic well-being. As at today, ICAfrica is
spending only an average of $25 to permanently move each of
the poorest people, now living on less than $1 a day, to
above $1.25 a day. (see
our Aug 2011 Report Card).
We are very efficient because we only spend $50 in
micro-loan to empower an impoverished village woman
entrepreneur to grow her business and begin to earn profits
to immediately move her family above the poverty line. And
there are over 100 million women in sub-Sahara that could
use this type of assistance. For anyone or organization looking
for how to quickly enable grassroots Africans to being to
take care of their economic lives, this is a model that
should be considered. As a fairly new organization, many
Canadians still do not know about ICAfrica but we are working
towards telling our story to the public. So far only about
100 Canadians have donated to ICAfrica. Since starting, we
have raised less than $100,000, empowered over 460 families
with micro loans and moved over 1400 people out of poverty. Non of
this would have been possible without the support of these donors, our
dedicated Canadian volunteers, our volunteers and
community partners in Africa who believe in the ICAfrica
idea of building a better world for all - children and their
parents. Imagine how much more we all could do for Africa if most of the $25 billion
world-wide annual aid for Africa, is
spent on enterprise development. We invite you to look
through our financial reports for 2009 & 2010. (Please
note that our Legal name is, Igbo Charitable
Association Inc.
Fundraising
So
far, 50% of ICAfrica's income comes from public donations.
We have not built up a stable sources of funding which means
it has been very difficult planning our yearly operations. We
are appealing to the public to help ICAfrica secure more
longer-term funding so that we can reliably help more people
escape poverty. In the coming years, we would organize fundraising events to
encourage more public participation in ICAfrica, to enable
us to grown more rapidly and serve the serious needs in Africa.
We are working to improve our visibility within Canada
and are increasingly seeking to partner with
foundations, governments, international organizations,
corporations and individuals, on how best to stretch limited
dollars, especially in this period of recession in Canada
and other developed nations. If you would like to help raise
funds for ICAfrica in your local community, office, school,
church, club, etc. please write to:
admin@icafrica.com