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Passionate Africa Leadership Institute - Passionate Youth Investment Club

P. Y. I. C

Welcome to Passionate Youth Investment Club ( P.Y.I.C ).





Driving financial incursion among the young.


P.Y.I.C exist to facilitate series of financial literacy development programs, cultivate the habit of savings among the young

  • To pull resources together for a collective mutual benefit for its subscribers.
  • Meet the Lead

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    TERMS AND CONDITIONS

    1. PREAMBLE

    1.1 The Passionate Africa Leadership Institute (PALI), formerly known as Vision Care Network International, was established in June 2005 with the intention to provide a platform for the empowerment of African youth and assisting them to develop leadership skills, competencies and values needed to deal with the development challenges facing the continent.

    1.2 As part of efforts towards the fulfilment of its core mandate, PALI seeks to promote the economic empowerment of the youth by offering them an avenue for career development, entrepreneurship and wealth creation. In consideration of this aspiration, the executive body of the organisation has taken steps to establish the PASSIONATE YOUTH INVESTMENT CLUB (PYIC), which is primarily aimed at pooling resources from young professionals and students and investing the resources in a manner that would yield positive returns for members of the club over the long term at a moderate level of risk.

    1.3 The purpose of this document, therefore, is to provide a simple framework within which the business of the club will be executed to ensure that the interest of members are promoted and protected.

    2. NATURE OF THE CLUB

    2.1 The club shall operate as a voluntary, privately-managed savings and investment club whose members have the intention of pooling cash together for the purpose of joint investment for their mutual benefit and interest.

    3. OBJECTIVE

    3.1 The primary objective of the club is to achieve a long-term growth of capital while ensuring that investment risk is minimized.

    4. MEMBERSHIP

    4.1 Admission into the club is open to all members of the Passionate Africa Leadership Institute (PALI) and other young persons and youth who believe in PALI's vision, values and philosophy. A person shall be admitted as a member of the club upon completing and signing an enrolment form. The completion, signing and submission of the enrolment form shall signify the full and complete acceptance of the terms and conditions for membership of the club.

    5. CONTRIBUTIONS

    5.1 Members of the club shall make periodic contributions (i.e. monthly, quarterly or annually) in such amounts determined and agreed by the members. The amounts to be contributed could be reviewed from time to time. Payment could be done by bank transfer, mobile money, cash or any other legitimate mode of payment.

    6. TRUSTEES

    6.1 The activities and business of the club shall be coordinated by a team of professionals who shall act as trustees for the club. The trustees will be nominated by members and approved by the executive body of PALI, the sponsoring institution. Among other things, the trustees shall:

    6.1.0 Maintain proper membership register and accounting records for the club;

    6.2.0 Monitor the investment of club assets and evaluate the performance of the fund managers;

    6.3.0 Ensure that duties are conducted with discretion and that possible conflicts of interest are dealt with;

    6.4.0 Prepare and disseminate the club’s financial statements and investment reports.

    6.2 The trustees shall meet at least two times a year to discuss matters relating to the business of the club.

    7. GENERAL MEETINGS

    7.1 The club shall hold a general meeting once every year. The club’s first annual general meeting shall be within 15 months of its inauguration.

    7.2 At each annual general meeting, a statement of account shall be presented by the trustees. The report presented by the trustees shall include a full record of the club’s income and expenditure; a list of the club’s assets together with its end-of-year valuation; also a capital account for each member showing his/her total contributions and withdrawals together with the current value of his/her holding.

    7.3 An extraordinary meeting may be called by signed request from 50% of the club membership and approval of the executives of PALI, the sponsoring institution.


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    Register now