Aid Fund for Africa and Bestinver

The Aid Fund for Africa (FAA) allows Bestinver, its clients and employees, to collaborate in social and development projects on the African continent.

Beltrán Parages, Bestinver Commercial Director

Large and medium-sized companies are increasingly opting to use their corporate social responsibility policies to contribute to society - by returning some of the earnings they have obtained from it. Bestinver is no exception, and this is why it has created its "Aid Fund for Africa" (FAA), managed by the humanitarian development aid NGO, Africa Direct. Beltrán Paragés, Bestinver's commercial director, opened the doors on the fund's projects with all the dedicated enthusiasm that envelops this initiative. The fund is a platform for Bestinver and its clients to commit resources to development projects centered on the African continent.

What is the Aid Fund for Africa?

The FAA is the platform by which Bestinver channels its corporate social work. Through it, we give the opportunity to the Company, its clients and employees, to send donations to humanitarian and development projects in Africa, managed by our partner Africa Direct (África Directo, AD). The operation is simple: on the one hand, we set up a current account to whoever wants it for making contributions (with rights to the corresponding tax relief), and; on the other hand, together with AD, we select the most interesting projects for financing according to our criteria. No costs are produced during the process, so we can guarantee that 100% of the amount donated is received by the final beneficiary. None of the three stages involved incur any costs on the donations received. As such, our slogan is: "100% of what you give gets there".

Bestinver has created the Aid Fund for Africa (FAA) managed by the humanitarian development aid NGO, Africa Direct

Why should an investment fund manager decide to launch a project such as this?

First, it emerged as a response to the need for Bestinver and its employees to return to society part of the profits we earn; we believe we are fortunate in our lives and this is a way of recognizing that. Also, we believe in this project, which was started by founders José María Márquez and Guadalupe Martín Laborda and their team. José María lived for seven years in Africa, in which he created and ran a hospital which later culminated in the AD foundation, a Spanish NGO focused on development projects in Africa, formed by highly involved volunteers of quality (professionals from various sectors). Currently, the foundation is managing projects in 13 countries with the same spirit and aims as for the first hospital. Guadalupe, for her part, was the founder of Manos Unidas and later decided to join AD to contribute her experience managing projects and teams. She has maintained the same enthusiasm and commitment since day one… for the past 25 years!

At Bestinver, when you talk about a fund, it is normally associated with yield and risk. What would be FAA's yield and risk for those who wish to invest?

The yield of this fund is infinite. It cannot be measured in numbers; it is emotional. We work with and for people, with projects that change the lives of those who benefit from them. Numbers are irrelevant.

Bestinver has created the Aid Fund for Africa (FAA) managed by the humanitarian development aid NGO, Africa Direct

What kind of projects do you finance?

Generally, those that help bring normality to the lives of unfortunate people and lighten their load of day-to-day problems. Within this broad definition, we have all types of projects, from education to engineering related to agriculture, infrastructure and health care, etc. As of late, we have also embarked upon a new adventure by creating a micro-credit entity to lend money to people to start up businesses (modest, but vital for survival) and which generates the necessary resources to tackle the basic costs of life: food, health, education, housing, etc. We provide them with the means so that they can help themselves.

Is it necessary to invest large amounts?

No. There are many ways of collaborating, including personal involvement and by contributing professional knowledge to projects (from lawyers, engineers, doctors, biologists, teachers, etc.). This is usual among donors, since AD has an extensive network of volunteers with very high qualifications, who bring both what they know, and their time, to manage different projects. The contributions are not measured in money terms (although money is always welcome), but by the donor's intention.

Over the past year, how much has been raised for the Aid Fund for Africa and to which projects have the funds mainly been dedicated?

We have raised around 1,200,000 euros. As well as donations from Bestinver employees, we inherited in favor of FAA, for the first time and as a one-off, one client's whole investment in Bestinver, as well as other assets.

The funds raised are destined for health care, educational, community and agricultural projects, and emergencies, in Angola, Benin, Burundi, Cameroon, Eritrea, Kenya, Malawi, Mozambique, Sierra Leone, Sudan, Tanzania, Uganda and Zambia.