“Others are becoming billionaires in Africa everyday. They are properly capitalized with enough money to buy all the equipment and in the mining sector, they quadruple their investment in just 3 months. If we get enough funding, we can be equal players.....that will benefit Africans at home and in the Diaspora. The only thing preventing us from competing on equal footing has been access to funding and capitalization. If we get this funding, it's going to be a game-changer. Africans and the African Diaspora can invest in Africa and become millionaires within months. Diasporans can benefit from their inheritance in Africa."
- H.E. Ambassador Arikana Quao
Later this year, the government of Zimbabwe will be hosting the “8th Pan African Congress Part 1 (8PAC1)”. One of the main Agenda items is African Economic Liberation through Diaspora Pan African Capital Fund, Diaspora Pan African Bank and Diaspora Preferential Investment Pathway for International Contracts. On Sunday, March 5, The Third Preparatory Meeting for the 8PAC1 discussed the agenda item:
Diaspora Pan African Capital Fund
$100 a month from 1 million African Diasporans (0.4% of the African Diaspora population) is $100 million a month. That’s $1.2 billion a year and $6 billion in five years. Investment through the fund qualifies for citizenship through Pathway 1. At maturity, money is deposited in a bank in the country of choice.
Below is a concept deck prepared by Nicole Holmes summarizing the vision of H.E. Ambassador Arikana Chihombori-Quao and the discussion during the meeting. To solicit input for the Zero Draft Resolutions working document for the 8PAC1 Harare Declaration, complete the form below.
Example: Lithium mine
Approximately $300K is neede to acquire a lithium mine. For lithium mining, you need an excavator and a jaw crusher. All one needs to do is dig up chunks of rock, crush them, load them up and they are ready to sell. Average cost of lithium (depending on the % of lithium in the rock) is
4% to 5% a ton of rock of lithium is $600 to $700;
5% to 6% is about $1000 per ton;
6% to 7% is up to $1,500 per ton.
You can dig up to six dump trucks each carrying 20 tons each per day for a total of 120 tons per day. Average is about 60 to 80 tons per day, or $36,000 minimum at 4% to 5% or $720,000 a month (20 days working out of 30). At a maximum of 120 tons at 7%, that’s $180,000 a day or $3,600,000 a month (20 days working out of 30).
Expenses to transport the lithium is about $1000 per truck. You can lease an excavator or a jaw crusher for $15,000 a month.
Subtract $30,000 per month for the excavator and jaw crusher, as well as $5,000 for the fuel. The returns are still huge!
If there is maximum production of 120 tons for 24 days at 5% to 6% ($1,000 per ton), that’s 2,880 tons of lithium worth $2,880,000. Subtracting the equipment and fuel cost, that’s a net profit of $2,845,000. After paying labor, there is a massive net profit.
Question: how much does it cost to do this with the least amount of environmental damages….?
The purpose of the Diaspora Pan African Capital Fund is to provide the capital for African Diaspora investment projects such as the lithium example above, whose profits are then reinvested in the communities themselves in the form of clinics, schools, etc. In this way, the African Diaspora can come into Africa and compete with foreignes who are already capitalized and extracting huge profits from the mining sector. The Diaspora Pan African Capital Fund is conceived to be a specific means for achieving
#AfricanEconomicLiberation
Please share your thoughts and ideas about the proposed Diaspora Pan African Capital Fund by completing this form. If you would like to serve on the Fund & Bank Committee for the 8PAC1, please email: pac8.1coord@ouraddi.org