SEP 14, 2018 —
The Amanfoɔ Selection Committee (ASC) is the foundational decision forum for PEF. This is a broad representative structure of Year Groups to the PEF. It is analogous to the “parliament” where plans as discussed, prioritized and selected. The ASC structure mimics that of other effective Alumni Foundations in worldwide.
Each Year Group may elect 1-2 ASC representatives who would relay the aspirations and concerns of that year group to the PEF. A web based electronic voting system would be used to facilitate a global democratic selection process. Such a system has already been designed and tested by some Amanfoɔ volunteers.
The term of an ASC Member would be three years. A third of the ASC members would be rotated out each three years (like the US Senate) to ensure retention of capacity. The ASC is expected to convene at least quarterly to deliberate on matters of the Foundation.
The ASC shall be responsible for selecting PEF officers and the Corporation Administrators.
Final plans for the school shall be approved by the ASC and rectified by the directors. Projects expenditure exceeding $10K will need assent by the ASC.
In effect the ASC is at the very heart of the democratic and open system of the PEF. We expect all Year Groups to have active representations.
A pilot scheme is currently in progress to roll out full functionality of selecting ASC representatives. It is highly encouraged that Year Groups who are ready to nominate and elect their ASC representatives should contact the PEF directors to initiate the process.
For more information about the operational structure of the ASC, click here.
Supporters of Prempeh College in Ghana or donors who would like to contribute in the Ghanaian currency, Cedi, may do so using any one of the following options:
For more information, please click here.
Supporters of Prempeh College in Ghana or donors who would like to contribute in the Ghanaian currency, Cedi, may do so using any one of the following options:
4.1 Wire Transfer / Direct Payment
Prempeh Endowment Fund
A/C No: 0150094504870701
ECOBANK GHANA LTD
A&C Shopping Mall Branch
Jungle Road, East Legon
PMB GPO – Accra
4.2 ECOBANK App
Download the Ecobank Mobile Banking App
|GOOGLE PLAY STORE||APPLE APP STORE|
4.3 Mobile Money
For each of the above options, it is strongly recommended that you use the Memo/Description field to indicate your House and Year Group.
If you have questions about giving to the Prempeh Endowment Fund in Ghana, please call 0244844171 or email email@example.com
The Board of the Prempeh Endowment Fund (PEF) empowers an investment committee of four-seven members. The Investment Committee shall have full power and authority to make decisions related to investments of the school. The committee may select and authorize the engagement of such agents, advisers, brokers, and attorneys, as it deems necessary to aid it in the proper discharge of its duties. The investment committee has responsibility for the fund’s investment performance. The investment committee ensures that the optimum investment result for the endowment is achieved by focusing on good governance. The members of the committee serve a 5-year term subject to renewable for a maximum of 2 additional terms that may or may not run in succession.
PEF strives to work with parties who support resolutions that encourage (and oppose resolutions that inhibit) the implementation of reasonable sustainable practices and environmental and social responsibility. The Investment Committee is tasked with ensuring that the endowment continues to be invested in a manner consistent with—and supportive of—PEF’s mission and values regarding ethical, social, and environmental issues.
Committee Members 2018 – 2023
Senior Mensah is an experienced investor who has managed funds with assets in excess of US$1 billion. He is currently Managing Director of Ghana Re-Insurance Corporation. George started his professional career in 1993 with Merrill Lynch Asset Management (MLAM) as a Financial Accountant in Princeton, NJ USA. He later joined Prudential Financial in Newark, NJ as Senior Analyst within the Investment Management Research team and was responsible for ensuring that portfolio managers had the ability to achieve superior returns in both up or down markets. Following his relocation to Ghana, George held management positions as Assistant Director in charge of Treasury and Investment at African Reinsurance Corporation and Executive Director, Head of Investments at SIC Insurance Company. He has served on several Boards including Ghana Stock Exchange, NTHC Financial Services, Afram Publications Limited and Starwin Products Limited, a pharmaceutical company in Ghana. George holds an MBA in Finance from the Stern Business School, New York University, New York, New York, USA and a BSc in Accounting and a minor in French from Montclair State University, Montclair, New Jersey, USA.
Senior Tawiah has over 25 years of experience in finance and management. He is currently the Chief Executive Officer of Core Afrique Investments Limited, an investment advisory company he foundered in 2004. Prior to that, Frank served as the managing director of Equatorial Cross Acquisitions Limited, a finance company that was influential in raising equity for the development of the corporate plaza in the Airport City enclave in Accra, Ghana. Frank is very knowledgeable in Finance, Accounting and Taxation and has previously lectured on those subjects at GIMPA, Accra. He has served on several corporate boards including Emerald Properties Ghana Ltd., Darlow Ghana Ltd., Capstone Capital, and Spintex Inc. Frank is a Chartered Financial Analyst and a member of CFA Institute. He holds an MBA from the Schulich School of Business, at York University, Toronto, Canada with specialization in Corporate Finance, Investments and Accounting and a BSc degree in Chemistry from the Kwame Nkrumah University of Science and Technology, Kumasi, Ghana.
Henry is an Advisor at the Australian Treasury, and in his current role at the Foreign Investment Review Board Secretariat, his objective is to ensure that foreign investments in Australia are in Australia’s national interest. He is very skilled in international relations and international economic law and policy, having contributed to key outcomes in a range of sensitive matters on behalf of the Australian government.
These have included being a negotiator in:
Henry was called to the English Bar (Inner Temple) and has been admitted to the degrees of Master of Laws in Banking and Finance (Queen Mary, University of London) and Master of Commercial Law (University of Melbourne).
He lives in Canberra with his wife and two children.
Senior Kwapong has extensive experience in finance and management. He is currently a board member of Nordicom-Denmark, a real-estate investment group in Denmark and serves as a board member of Ecobank Ghana. Hene Aku has previously held management positions at Exxon Mobil Corporation, Senior Manager at Microsoft Corporation, Vice-President at GE Capital, Senior Vice President & Treasurer at the New York City Economic Development Corporation, Vice-President at Deutsche Bank, and Chief Operating Officer EMEA Credit at Royal Bank of Scotland in London. Since 2014, he has been engaged in consultancy tasks in restructuring and launched The Songhai Group, a corporate development company. He serves on audit committee, risk, and governance committees in his board roles. Hene Aku studied Chemical and Nuclear Engineering at MIT, Cambridge, Massachusetts, USA. He obtained his PhD in Non-linear Systems Dynamics from Columbia University, New York, USA and an MBA in Economics from the MIT Sloan School of Management, Cambridge, Massachusetts, USA.
Janeen Judah, 2017 SPE President.
Several years ago, I was at a Texas A&M University football game in a suite sponsored by the dean of the College of Agriculture, so not my usual engineer crowd. I introduced myself around, and one of the other guests said something I still remember, “I work for the Gates Foundation. My job is to give away Bill Gates’ money.” I remember thinking what a great job! Wouldn’t everyone love to play Santa Claus with Bill Gates’ billions? Wouldn’t we all love to be able to have Bill Gates’ impact on the world as his foundation invests in global development, health initiatives, and US education? In a way, we do. Global, multinational companies often make commitments for local infrastructure as a condition to do business in host countries. These infrastructure projects often require companies to build clinics, schools, roads, and power and water supplies in areas where the local government cannot or does not provide them. Oil and service companies are not different—we often build community projects, but they don’t always last. I have traveled extensively in Africa, and in more than one country, I have seen faded USAID signs on dilapidated clinics and schools. US tax dollars set up this needed infrastructure, but the projects are not sustainable because there aren’t local agencies with the ability to run them. These development projects are part of the risk our companies take to do business in developing nations, and we all hope for a reward for the local communities with real, sustainable improvements in their lives because we were there. But these development projects don’t always work as planned. I first realized the power of oil company cooperation with local nongovernmental organizations (NGOs) many years ago in Latin America. An oil field was located in a rural area about 4o km from a large city. The community had a local elementary school; but for high school, students had to travel into the big city. As a result, many local kids didn’t attend high school. Girls were especially likely to drop out because their parents were concerned about safety and traveling home often after dark. There was a real need for a high school in the village near the oil field. The operator had made a commitment to invest in the local community and had already built a health clinic, which the governmentstaffed with local doctors and nurses.
The high school was the next priority project, but there was jockeying between local politicians over who would control the funding and the school. The operations manager was a career expatriate who knew that cash handed over to the local government would evaporate. The solution: Allow nuns to run the school. In Latin America, everyone could agree on the Catholic Church as honest, professional educators. The operator built a home for six sisters, including the principal, next to the school, and they ran the school honestly and with the children in mind.
Unfortunately, the story has a sad ending. Even with a successful partnership for several years, ultimately, the government became more unstable and failed to keep up its end of the agreement to both the clinic and the school. The health ministry stopped paying the medical staff and providing medical supplies, so the clinic closed.
The high school had become so successful that enrollment swelled so the nuns ran two shifts of students. Unfortunately, the government stopped paying the lay teachers, providing books and supplies, maintaining the school, and it also closed. The perfect “three-legged stool”—partnership for implementation and sustainabiliry among industry, an honest-broker NGO, and a government ministry—failed.
There is certainly a lot of activity worldwide to develop infrastructure projects through public-private partnerships (PPP). In Europe and the US, PPPs are used to finance toll roads and privatize and redevelop utilities and water works. Investors put up the money in return for a share of the improved project’s revenue stream. This is an investment, not aid. In developing nations, PPPs are often funded by wealthy nations via the World Bank or regional development banks such as the Africa Development Bank. Projects include power, transportation/ roads, telecom, water/sanitization, education, and primary health. World Bank-funded projects have been dominated by relatively low-risk countries: Brazil, China, India, Mexico, and Turkey. Oil companies often operate in far less developed countries, where the financial risk is simply too high for private investors and development banks. Yet, oil companies are usually required to include local development as a component of developmentprojects. I believe there is a great opportunity for us as an industry to partner more with governmental agencies and NGOs to make our community development projects more sustainable. What’s different about oil companies?
We often operate in far needier countries with literally no infrastructure.
1 We are committed to community investment as part of our concession or project agreements.
2 We are not interested in a revenue stream or return. We have no profit motive from the infrastructure investment; we’ll make our money from production.
We can execute the development project alongside our projects, taking advantage of our supply chain and contractors.
1 We are there to stay for the life of the field or project: 20, 30, 4o years.
Oil companies are excellent at execution. We know how to manage projects, build facilities, and drill wells. We have extensive supply chains that allow us to import goods into far-flung countries. NGOs have their special strengths with running clinics or schools, providing front-line medical care and training local staff. But they often struggle with logistics such as importing specialized material into countries and building facilities.
Governments and ministries are often cash-short and fail to followthrough with staffing, maintenance, and consumables such as medical supplies and books. In researching this article, I encountered a whole world of governmental and academic research on sustainable development in emerging economies. For example, I suggest you read about economic history and development in the writings of Douglass C. North, winner of the 1993 Nobel Prize in economic sciences. Of special interest is Violence and Social Orders (2009), in which he explains two types of social orders— “natural” states and open-access or modern societies.
! Also, I met with Andrew Natsios, former administrator of USAID, and now at Texas A&M University and aworld-known expert in international development. Issues with oil company local development and government-driven development programs are strikingly similar. Natsios’ article, “Nine Principles of Reconstruction and Development’ (2005), echoes many of the main issues oil companies encounter when pursuing local development projects and helping to create sustainable communities: ~
1. Ownership. The community must “own” the project.
2. Capacity building. Transfer of technical ability to deliver.
3• Sustainability. Design projects so their impact endures.
4. Selectivity. Target investment where interests align.
5• Assessment. Design for local conditions.
6. Results. Have an objective before starting.
7. Partnership. Collaborate with government, communities, private sector, NGOs, etc.
8. Flexibility. Adjust as needed. 9• Accountability. Design accountability and transparency into the project and guard against corruption.
.Sound familiar? Efforts to coordinate private industry, local development, and governmental agency links are out there: the Shared Value Initiative (http://sharedvalue.org/), Business for Social Responsibility (hops://www.bsrorg/en/), and the Niger Delta Partnership Initiative (http://www.ndpifoundation.org/).
Private industry (including oil companies) is doing more to improve on the nine principles, most especially ownership and
sustainability, so that the impact lives on. In fact, an excellent example is the “Green Revolution” of the mid-loth century, in which modern plant hybrids and agricultural methods are credited with saving the lives of a billion people from starvation around the world, chiefly in Mexico, Pakistan, and India. Norman Borlaug, i97o Nobel Peace Prize winner, is credited as the “Father of the Green Revolution:’ It’s worth a quick Internet search to learn more. Fundamentally, oil company operators and development organizations both work on a long-term, 20+ year development window. Politically motivated development can look for a quick fix, while sustainable societal change may take a generation. When oil companies enter a region, we are almost always in it for the long haul—to develop and produce along-term asset, develop local staff to run it, and improve the lives of both the immediate communities and the overall country’s economy. We all want a better world. Oil companies are already partnering with countries for the long term. Industry and governments can work together to create real, sustainable improvements in communities and countries where we operate. But, of course, we can be more successful if we have other organizations partner with us to create sustainable communities. My example of the programs in Latin America demonstrates what happens when one link in the chain fails. We can do better; we achieve greater reward when we work together fora commoncause. J PT
Members of the 80/82 year group have been guided by this maxim from the Good Book, “To whom much is given, much is expected.” We are ever mindful of the debt of gratitude we owe Prempeh College for the invaluable life lessons inculcated in us during our formative years there. Lessons that have shaped and molded us into people we have now become.
We were trained academically and spiritually in an atmosphere which enabled us to form life-long friendships – friendships which have formally coalesced into the 80/82 year Group. Our goals among others is to be each other’s keeper and also to pull our resources together to assist in alleviating some of the numerous infrastructural and logistical problems bedeviling our alma mater.
It’s in the pursuance of the latter goal that our year group in commemoration of our 30th anniversary of admission to Prempeh undertook several activities to benefit our school in 2005. To help address the chronic water shortage on campus we donated eleven poly-tanks (one for each house and the remaining two to the administration). We also organized a formal event to honor the foremost Amanfuor of the day, the-then sitting President of the Republic of Ghana, HE John Agyekum Kufuor and his chief-of-staff, Mr. Kwame Mpianim, also an Amanfuor. We honored outstanding staff with awards. We then held a dinner for all staff and faculty as well as the student body.
We were in the process of purchasing several toilet seats in 2016 for the school when we got word that another year group had already committed to doing the same and were far advanced in their preparation than we were. We therefore gave up on that project to re-think our next step.
It was in the midst of deliberating on what we could do next for our school that we got word about the Prempeh Endowment Fund (PEF). After “meeting” with Senior Kwapong on our WhatsApp platform, he was able to fill us in on the origins of the PEF, its goals and objectives, management structure and the lasting benefit it could serve our alma mater. He was gracious enough to answer our questions and shed light on how the PEF would operate.
Needless to say, the general consensus after the “meeting” was that the PEF is well thought out and deserves our serious attention and consideration. As stakeholders in the future of our alma mater we saw the PEF as providing a long-term solution to the present norm of assisting our school on ad-hoc basis. While not being critical of our past efforts, those efforts can at best be described as haphazard, uncoordinated, duplication of efforts leading to excessive attention to some areas while others were neglected. This band-aid approach was not adequate in seriously tackling the myriad of problems facing our institution. We needed change and a new approach.
The PEF offers us a once-in-a-lifetime opportunity to lay a solid foundation upon which we can erect the edifice of securely-structured, well-coordinated, systematic and reliable source of assistance for our school. The fund which will be professionally managed will bring transparency and accountability to endowment process. It will also tap into a wider network of donors thereby broadening our donor base beyond alumni.
There is no doubt that there might still be a few kinks to work out such as ensuring that resources sent to the school will be used for the assigned purpose, accountability at the implementation level, etc. but we are on board in using the PEF as a vehicle to contribute our quota to Prempeh’s betterment and future development.
We have provided functionalities on Prempeh.com to provide the tools for Amanfoo to organize around logical groups especially around respective Year Groups in furtherance of marshaling resources and talent to help the school. Here are some of the features we want to highlight:
Your profile is similar to Facebook-like profile where you can share, post photos, and connect as friends with other Amanfoo.
There is a social networking feature to enable your group community to connect using profiles, groups, and more.
To create a group for your community (eg. year group), please send a request to firstname.lastname@example.org, with the name of the group.
An email subscription feature notifies members of a group when other members post content. The notification is done by email, and is totally configurable. Each member can choose, for each group, how he or she wants to be notified – (1) No Email; (2) Weekly Digest Summary; (3) Daily Digest Summary; (4) New Topics Email; or (5) All Email. Members can also determine what kind of group activity that want to be notified about.
Document creation feature “adds collaborative work spaces to your community. Part wiki, part document editing,” Docs provides a robust way for members to collaborate on group content. Permissions can be set to control edit and view privileges. Version control is automatically maintained, and members can revert changes, or simply track a document’s evolution. Documents can be tagged, sorted, and filtered.
There is also a group forum functionality. It allows members of a group to start forum topics, create discussion threads, tag content, and easily add images and links.
We are inviting year groups to organize on the platform to make it easier to stay in touch for the benefit of a great school.
We are in our next phase of making Prempeh College the school of choice again. With the launch of the Prempeh Endowment Fund (PEF), we are asking all Amanfoo, friends and supporters to register to be counted.
Registration is through the website, www.prempeh.com/register, which has all the information to help educate all interested parties and also serves as a communication platform to help us create a community for all alumni and friends of Prempeh College.
The Directors are inviting all Amanfuo to register and join this effort to work collaboratively to make planning and support for the school both meaningful and sustainable. We are also encouraging each and every one of you to help spread the news to other Amanfoo you know by forwarding this post.
By Godfried Foli Arthur
“We make a living by what we get, but we make a life by what we give” – Winston Churchill
Wait no more!! The promised and indeed, the much anticipated Prempeh Endowment Fund (PEF) is launched. This project was borne out of numerous conversations with Prempeh College stakeholders where it became clear that an Endowment Fund (EF) is the wave of the future since the status quo hasn’t worked or helped. The fervent desire to give back to the school that nurtured us sent a group of seniors and consultants to work, and the end product is a well-developed endowment fund (EF) four all Amanfoo to give back to Prempeh College. This is the Prempeh hubris we have all grown to accept and love to project among our equals.
We realize that a school spanning almost seven decades has an Alumni who are always ready to lend a helping hand if the right call is made or the right approach employed. We also realize or recognize that it takes a collective effort in a novel project like this to bring people together and work towards a common cause like what is envisaged here with the EF. Therefore, the establishment of this EF now gives us a new avenue to make a lasting and a more sustainable contribution to our Alma Mater. It is in fact a way to support the needs of Prempeh College with practically no time commitment. Simply choose how you want to donate to the Fund through various provisions provided.
“It takes each of us to make a difference for all of us“-Jackie Mutcheson
Founded in 2016, the Prempeh Endowment Fund is a private, nonprofit organization that raises and invests private contributions in Prempeh College while advocating for and advancing this transformative secondary school's mission and brand. Learn more.....
The Prempeh Endowment Fund is a nonprofit organization that is dedicated to advancing the pursuit of excellence, broad access to quality education, and meaningful societal impact of Prempeh College students.
PHONE: +1 (513) INFO-PEF
Prempeh Endowment Fund
1400 Preston Rd, Suite 400
Plano, TX 75093