Imvaba Co-Operatives Fund

IMVABA CO-OPERATIVES FUND

FUNDING COMMITTEE CHARTER

By: Fund Manager

June 2011

iMVABA FUNDING COMMITTEE CHArter – JUNE 2011

1.  PURPOSE

Imvaba Funding Committee is a separate committee established by the ECDC, under the guidance of the ECDC Executive Management Committee and its purpose is to:

a)  Consider all applications from co-operatives presented to it in terms of the Imvaba Fund Policy and Procedures, as approved by the ECDC and Department of Economic Development and Environmental Affairs (DEDEA);

b)  Established to ensure that all applications from Co-operatives comply with the Imvaba Fund Policy and Procedures, as approved by the ECDC and DEDEA;

c)  Pass necessary resolution in respect of all applications from registered Co-operatives in line with policy threshold limits for;

(i)  Approval;

(ii)  Rejection; or

(iii) Deferral.

d)  Pass necessary resolutions in respect of all applications from registered co-operatives requiring the following services:

(i)  Institutional Capacity Building Support

(ii)  Equipment and Material Funding;

(iii) Term Loans Funding.

e)  Recommend all applications above the maximum threshold in terms of the policy to the ECDC Executive Management Committee (EXMA) for approval in line with other ECDC Funding Products;

f)  Consider all debt collection matters presented to it in terms of the ECDC Debt Collection Policy and with guidance from DEDEA;

g)  Pass necessary resolution in respect of debt collection matters ;

(i)  Approval;

(ii)  Rejection; or

(iii) Deferral.

a)  Recommend all debt collection matters above R1 million to EXMA for approval;

2.  COMPOSITION

The committee consists of the following members or designated members of the following respective units:

·  Executive Manager: Development Investments Unit

·  Fund Manager: Imvaba Co-operatives Fund

·  Executive Manager: Development Properties Unit

·  Executive Manager: Development Services Unit

·  Chief Financial Officer

·  Manager: Legal Services

·  Any member recommended by the ECDC CEO

Account Mangers responsible for the developing Committee submissions from co-operatives in the Regions shall be invited to present to the Committee

Account Manager’s role is to present applications to the Funding Committee for consideration for funding under the Imvaba Co-operatives Fund.

Account Managers are responsible for communicating with the respective co-operatives applying for funding under Imvaba, and therefore shall keep records of all correspondence with the co-operative in a file for auditing purposes.

3.  MEETINGS AND QOURUM

The meetings of the committee shall be constituted as follows:

a)  The committee shall meet at least twice a month to consider all applications processed in that respective period from all Regions;

b)  The committee meetings shall be arranged by the secretariat of the Funding Committee, that the Fund Manager and Administrator;

c)  The quorum shall be constituted by representatives of at least 3 units listed in section 2 above;

d)  The Executive Manager – Development Investments shall be the Chairperson of the committee. In the absence of the Chairperson, one of the Executive Managers present shall chair the meeting

e)  Membership of the committee is based on the position occupied and only employees who are properly delegated in an official acting capacity can be recognized in determining the quorum.

f)  The Chairperson may invite non-members to attend the meetings of the committee if deemed necessary.

g)  The Funding Committee Secretary (Administrator: Imvaba Co-operatives Fund) shall provide secretarial services to the committee, and as such, shall keep records of all the meetings of the Funding Committee as well as minutes and decisions thereof.

h)  Minutes of the Funding Committee, signed by its Chairperson and the secretary shall be the official record of any meeting or decision of the Funding Committee.

4.  AUTHORITY OF COMMITTEE AND REPORTING TO EXMA

The Funding Committee has the following authority as per ECDC Delegation of Authority:

a)  Process and approve all Imvaba Co-operatives Fund proposals as per the Revised Imvaba Policy

b)  Refer all Imvaba proposals above the threshold to be considered by the Funding Committee to EXMA for approval.

______

Thabo Shenxane Date ------

Fund Manager: Imvaba

Ndzondelelo Dlulane Date

Chairperson: DIU

Sithembele Mase Date

Chairperson: CEO

ANNEXURE A: PROPOSED COMMITTEE MEMBERS

Names / Unit / Role
Buhle Dlulane / Development Investments / Chairperson
Msulwa Daca / Chief Financial Officer / Deputy Chair
Justin Uren / Legal Services / Member
Thabo Shenxane / Development Investments / Fund Manager & Member
Luyanda Tsipa / Properties / Member
Mlamli Nodada / Development Services / Member
Mpumi Fundam / Development Services / Member
Dave Mandel / Development Investments / Member