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OUR ROOTS AND BACKGROUND

The ABDF began as an idea to generate economic confidence and financial capital within the Afrikan community. Whilst recognising that not everyone would define themselves as such, there was an understanding that our community lacked direction and cohesion where an effective use of finance was concerned.

The ABDF was a response to the fact that in comparison to other communities our disposable income was relatively high however we had – and still do have – a marked tendency to spend most of this income with people from other groups.

As a consequence , the ABDF was established (initially as an unincorporated association) in 1996. It is now actively fulfilling its original objective of Afrikan economic empowerment through capital investments and business ventures worldwide.

THE FEATURES (How Does It Work?)

The ABDF Ltd is based upon the principle and practice of Pardner/Susu/Boxie Money etc. as passed down to us by our parents and ancestors from Afrika and the Caribbean. However in contrast to a ‘savings club’ the ABDF Ltd operates as a strategic investment company where shareholders, through monthly direct debits, purchase the company’s share capital and the company then engages in business and makes investments. The shareholder receives a dividend when the company feels it is financially viable to pay a dividend. Through this process we create capital which is the key to moving Afrikan people from economic scarcity to plenty.

To ease the administrative burden each shareholder makes their monthly contribution by standing order. Exceptions to this rule are only considered in the case of shareholders who are unwaged.

THE STORY SO FAR

So far we have

  • Bought two properties which we manage, rent at a profit and which have appreciated in value.

  • Invested in an Afrikan owned company (Nubian Natural) based in London .

  • Continued to attract new shareholders.

  • Achieved a balance of male and female shareholders.

  • Built trust and a solid group ethic.

  • Successfully bought up the first share issue of 96,000 shares.

  • Launched a new share issue of 1,000,000 shares.

  • Spread out widely across England from our original Nottingham base. Invested in Afrika ( Ghana).
  • Begun to create sustainable international links with like minded groups of fellow Afrikans.

Most importantly

We continue to invest together and prove that Afrikan people can and will pool their money for our collective good .

THE ABDF LTD. TIMELINE

March 1996       -          Birth of the idea

Oct. 1996          -           Bank account opened

Nov. 1996         -           ABDF the organization began

Nov. 2000         -           Members save £20,000 (initial target)

May 2001          -           ABDF Ltd formed

Aug. 2002         -           Company purchases first house.

May 2003          -           Company acquires first tenant

Feb. 2004         -           Company purchases second house

Mar. 2004         -           Company acquires second tenant

June 2004         -          Three year consolidation period comes to an end.

Feb. 2005         -           Company acquires 50th member

May 2005          -           Company makes first investment in a business (Nubian Natural).

May 2007          -           1st Regional group.

Jan 2008           -           Company acquires 100th member.

Feb 2008          -           ABDF Ghana Ltd formed.         

 

 

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Last modified: March 30, 2008