“Any Effort for Positive Social Change is limited by the Extent of our Faith in the Capacities of others. If we cannot Accept that a Corporate Leader can stand Shoulder to Shoulder with a Struggling Mother Supported by Welfare; Furthermore, if we cannot Accept the ability of Young Men and Women who, Today Live in Abject Poverty to Lead Companies and their Communities Tomorrow, then any Transformative Effort will Ultimately Fail. Visions, Strategies and Tactics are all necessary but our Faith in each other’s Capacities is Paramount”.
The Wealthy Communities Africa (WAFCOM) is a market-driven Program of the Africa Islamic Economic Foundation that fosters an alternative development path based on principles of asset-based and risk-sharing paradigm of economic development. It offers a systematic approach that identifies enterprising opportunities in targeted communities and engages a wide range of partners (cooperative networks, local organizations; corporate bodies and support organizations) in turning those opportunities into results that both build and capture wealth. It complements or incorporate traditional economic development methods, but intentionally focuses on creating more value that becomes rooted in local people, places and firms. Its focus on community wealth development creates new possibilities for economic and community development that helps widen the development focus beyond the core of profit, income and job creation today – the typically stated targets for development – to include the essential factors that will sustain profit, jobs and income into the future.
The Program is a strategic response to Africa’s growing socio-economic challenges, such as perennial problems of poverty, persistent youth unemployment, excessive inequalities of income and wealth, high levels of inflation, large macroeconomic and budgetary imbalances, exorbitant debt-servicing burdens, inadequate and aging public utilities and infrastructure, and growing food insecurity, which have all combined to undermine current development efforts of African countries. With many losing faith in the efficacy of the conventional economic development model the potential role of this Program in providing a complementary or alternative framework for development efforts is being encouraged cannot be over-emphasized.
PLEASE DIRECT YOUR REQUEST TO: