African Community Fund
Founding Subscription Round Directive
Directive No.: ACF-DIR-003 | Effective Date: 13/04/2026 | Version: 1.0
PREAMBLE
WHEREAS the African Community Fund (the "Fund") operates as an international institution with full juridical personality under Article 2.1 of its Charter;
WHEREAS Article 13.5 authorizes the Chair to adopt directives consistent with the Charter to implement the Fund's mission;
WHEREAS the Fund seeks to accelerate mission-aligned membership during its foundational phase to establish a durable store of value and advance community development objectives under Article 3;
WHEREAS incentives for early participation must align with cooperative principles of mutuality, long-term value creation, and responsible stewardship as set forth in Article 3.3;
WHEREAS Article 16 empowers the Executive Committee to define Yearly Programs for moral, cultural, and economic improvement;
NOW THEREFORE, the Chair hereby issues this Founding Subscription Round Directive to establish a time-bound framework for incentives to accelerate onboarding of Founding Members.
ARTICLE 1: DEFINITIONS AND SCOPE
1.1 Founding Member: Any entity that subscribes to shares and is admitted to membership during the Founding Subscription Round Period as defined in Article 2.
1.2 Founding Subscription Round Period: The period commencing on the Effective Date of this Directive and concluding upon the earlier of:
- (a) The admission of five hundred (500) Founding Members; or
- (b) Twenty-four (24) months from the Effective Date.
1.3 Eligible Incentives: Benefits, rebates, or privileges granted under this Directive, subject to the conditions and safeguards herein.
1.4 Applicability: This Directive applies to all Class A (Governance) and Class B (Non-Governance) Members admitted during the Founding Subscription Round Period.
ARTICLE 2: VOLUME-BASED SUBSCRIPTION REBATES
2.1 Rebate Structure: Founding Members who subscribe to shares in the quantities specified below shall receive credits toward future capital calls under Article 7.2(b) of the Charter:
| Tier | Shares Subscribed | Rebate Credit | Additional Benefit |
|---|---|---|---|
| Pioneer | 100 – 999 | 2% of initial payment | Priority technical onboarding support |
| Builder | 1,000 – 9,999 | 4% of initial payment + administrative fee waiver | Expedited review of first loan application under Article 17 |
| Founding Partner | 10,000+ | 6% of initial payment + full fee waiver | Invitation to Founding Advisory Forum (non-binding consultative role) |
2.2 Application of Credits: Rebate credits shall be applied prospectively to future capital calls and shall not be redeemable as cash distributions.
2.3 Anti-Arbitrage: Rebates apply only to shares subscribed during the Founding Subscription Round Period. No retroactive application to prior subscriptions. Shares transferred within 24 months of receipt shall not carry rebate benefits unless the transfer is to another Founding Member in good standing.
ARTICLE 3: DIPLOMATIC RECOGNITION INCENTIVES (SOVEREIGN ENTITIES)
3.1 Eligibility: Sovereign entities that execute a Memorandum of Understanding (MOU) or equivalent instrument recognizing the Fund's juridical personality, immunities, and privileges under Chapter V of the Charter.
3.2 Incentives:
- (a) Waiver of all onboarding administrative and processing fees;
- (b) Assignment of a dedicated liaison officer from the Fund Secretariat for the first 24 months of membership;
- (c) Priority consideration for nomination to Class A (Governance) status upon completion of the five-year tenure requirement under Article 4.4(b);
- (d) Invitation to ceremonial Founding Assembly events and regional outreach initiatives.
3.3 MOU Requirements: The MOU shall affirm the entity's commitment to:
- (a) Respect the Fund's immunities under Articles 18-22;
- (b) Facilitate the Fund's operational freedom under Article 20;
- (c) Support the Fund's objectives of community development under Article 3.2.
ARTICLE 4: DEDICATED ACCOUNT INCENTIVES (FINANCIAL INSTITUTIONS)
4.1 Eligibility: Banks and financial institutions that establish dedicated accounts or facilities aligned with the Fund's mission, including but not limited to:
- (a) Gold custody or verification services supporting Article 3.1;
- (b) Program-aligned lending facilities under Article 17;
- (c) Integration with the Digital Share Registry under Article 10.2.
4.2 Incentives:
- (a) Reduced transaction fees on Fund-related transfers for 24 months from account activation;
- (b) Early access to technical documentation and integration support for the Programmatic API and Certificate Authority;
- (c) Co-branding opportunities for joint community development initiatives under approved Programs (Article 16);
- (d) Preferential interest rate margin (up to 0.5%) on the first approved loan facility, subject to Article 17.3 criteria.
4.3 Compliance: Dedicated accounts shall adhere to the Fund's Secure Mail Directive (ACF-DIR-001) and Certificate Authority Directive (ACF-DIR-002).
ARTICLE 5: PRECIOUS METALS RESERVE INTEGRITY PROGRAM ADOPTION
5.1 Eligibility: Countries, central banks, or organizations that implement the Precious Metals Reserve Integrity Program (secure vaulting, independent assaying, audit protocols) consistent with Fund standards.
5.2 Incentives:
- (a) Technical assistance grant (up to $250,000 USD equivalent) for infrastructure setup, subject to Executive Committee approval;
- (b) Priority access to the Fund's gold valuation and verification services;
- (c) "Reserve Integrity Partner" designation with recognition in annual reports and the Open Data portal;
- (d) Eligibility for joint infrastructure financing under relevant Programs.
5.3 Standards: Implementation shall comply with technical specifications published by the Executive Committee, including FIPS 140-2 Level 3 HSM requirements for key storage and independent third-party audit protocols.
ARTICLE 6: ADDITIONAL ONBOARDING INCENTIVES
6.1 Founding Member Designation: Permanent recording of "Founding Member" status in the Digital Share Registry (Article 10.2), with eligibility for recognition in Fund publications.
6.2 Technical Onboarding Support:
- (a) Dedicated integration team for Certificate Authority and Digital Share Registry setup;
- (b) Waived fees for initial technical consultation, API integration, and staff training;
- (c) Priority access to Directive documentation and implementation guides.
6.3 Accelerated Loan Review: Founding Members receive expedited review (target: 30 business days) for the first loan application under an approved Program, subject to Article 17 criteria.
6.4 Referral Credit: Existing Founding Members who refer a new qualifying Member receive a credit equal to 1% of the referred Member's initial subscription value, applicable toward future capital calls.
6.5 Advisory Participation: Opportunity for Founding Members to join a time-bound Founding Advisory Forum to provide input on initial Program priorities and Directive development. Recommendations shall be considered by the Executive Committee per Article 12.3(b).
ARTICLE 7: SAFEGUARDS AND COMPLIANCE
7.1 Alignment with Charter Principles: All incentives shall:
- (a) Advance the Fund's objectives under Article 3.2 (community development);
- (b) Reflect cooperative principles of mutuality, long-term value creation, and responsible stewardship under Article 3.3;
- (c) Not create incentives for short-term trading or speculative behavior inconsistent with the Fund's mission.
7.2 Transparency and Reporting:
- (a) The Executive Committee shall publish aggregate, anonymized data on incentive uptake via the Open Data portal;
- (b) Total rebates granted, administrative costs, and impact metrics shall be included in annual financial statements under Article 23.
7.3 Clawback Provision: Incentives may be revoked if a Member withdraws within 24 months of receipt, unless withdrawal results from Fund default or Force Majeure.
7.4 Anti-Gaming: The Executive Committee may deny or adjust incentives if a subscription pattern appears designed to exploit rebate thresholds without genuine commitment to the Fund's objectives.
ARTICLE 8: SUNSET, AMENDMENT, AND ENTRY INTO FORCE
8.1 Sunset Clause: This Directive expires automatically upon the earlier of:
- (a) Admission of 500 Founding Members; or
- (b) Twenty-four (24) months from the Effective Date.
8.2 Amendment: This Directive may be amended by the Chair upon recommendation of the Executive Committee, provided amendments remain consistent with the Charter.
8.3 Entry into Force: This Directive enters into force upon signature by the Chair and publication on the Fund's official website.
8.4 Languages: In accordance with Article 28.1, this Directive is authentic in English, French, Portuguese, Swahili and Arabic. In case of discrepancy, the English text shall prevail for technical specifications.
SCHEDULE A: INCENTIVE APPLICATION PROCESS
| Step | Action | Responsible Party | Timeline |
|---|---|---|---|
| 1 | Submit membership application with incentive election | Applicant | At subscription |
| 2 | Verify eligibility criteria (volume, MOU, account setup, Program adoption) | Executive Committee | 15 business days |
| 3 | Approve incentive package and issue confirmation letter | Executive Committee | 5 business days post-verification |
| 4 | Apply rebate credits to Member account in Digital Share Registry | Fund Operations | Upon initial payment receipt |
| 5 | Monitor compliance and report uptake metrics | Executive Committee | Quarterly |
SCHEDULE B: CONTACTS AND SUPPORT
| Function | Contact | Purpose |
|---|---|---|
| Founding Membership Applications | [email protected] | Incentive eligibility, subscription support |
| Diplomatic MOU Coordination | [email protected] | Sovereign entity recognition instruments |
| Financial Institution Integration | [email protected] | Dedicated account setup, API support |
| Precious Metals Program Support | [email protected] | Vaulting, assaying, audit protocol guidance |
| Compliance & KYC | [email protected] | Incentive compliance, anti-gaming review |
Adopted by the Chair of the African Community Fund on 13/04/2026.
Shared Value, Shared Prosperity.