Welcome to CENFACS’ Online Diary!
20 November 2024
Post No. 379
The Week’s Contents
• Matching Organisation-Investor via African Art Investment
• Data Storytelling and Communication Skills for Households – On the Agenda from Wednesday 20/11/2024: Data Narrative and Communication Skills
• Rescuing Children’s Education in Africa: Only 13 Days to Go!
… And much more!
Key Messages
• Matching Organisation-Investor via African Art Investment
This is a new Autumn project, which is part of our programme of work which consists of bringing together Advice Service for Africa-based Sister Organisations (ASOs) and Guidance Service for the Not-for-profit Investors. The Impact Advice to ASOs is on project planning, while Guidance to Not-for-profit Investors is on Impact Investing in Africa.
The programme amalgamates both Advice Service for Africa-based Sister Organisations (ASOs) and Guidance Service for Not-for-profit Impact Investing in Africa. The two services are one of our Starting XI Campaign for Autumn 2024.
Our support to Africa-based Sister Organisations via Impact Advice will continue to operate to help these organisations to overcome many challenges and barriers they face such as changing climate, the cost-of-living crisis, debt crisis, etc. Our guidance work with not-for-profit investors will carry on as well. Under CENFACS‘ Guidance for Investing in African Not-for-profit Organisations and Causes in Africa, we run a programme to support these not-for-profit investors in Africa. The current project is part of this programme.
For both ASOs and not-for-profit investors, we have planned to conduct more activities this Autumn 2024. One of these activities is this new project, Matching Organisation-Investor via African Art Investment.
Through the African art investment project, we will be trying to match ASOs and Not-for-profit Investors. The matching scenario is as follows.
An ASO would like to buy small art objects or works as well as receive small artworks as donations from local people in Africa so that it can resell both (art objects bought and received) to make small margin, which will be reinvested in ASO’s charitable mission of reducing poverty in Africa. In order to realise its art investment idea is looking for a not-for-profit investor who will be interested in joining it and investing in art in Africa. The matching exercise will be between ASO’s African art investment idea and not-for-profit investor’s desire to support ASO’s idea or business model.
So, the business idea of ASO has two main components:
1) Buying and receiving small artworks/objects
2) Selling/reselling these artworks/objects bought and received.
Through these processes (that is; buying, receiving and selling), ASO will realise a fairly reasonable small margin, which will then be reinvested in poverty reduction mission via creative art.
ASO can buy art on the primary or secondary art market (via an auction house) or privately through individual dealers, brokerage or galleries.
There is an additional aspect in this project which ASO expects that a not-for-profit investor will bring in. This aspect is impact investing in the creative economy in Africa. Through this project, it is hoped that there will be some social and economic benefits where the project will be implemented in Africa. The project will firstly help reduce poverty as well as enhance local populations’ well-being while revitalising local neighbourhoods.
In order to make its business model sustainable, ASO is also planning to develop some side activities to back up the main art investment project. As a result, it will be investing in art galleries and art advisory services (e.g., assisting art collectors to make informed decisions). It will provide guidance service on building and managing art collections and run online platforms specialised in African art.
To work with both ASOs and Not-for-profit Investors in the context of this matching service, we have planned four-week of work starting from 20 November 2024. So, the project is based on a 4-stage model of project planning. There could be more than four stages in any project planning. However, because we limit ourselves to deliver this project in four weeks, we chose a four-stage model for project planning or investment cycle.
More on this Matching Organisation-Investor via African Art Investment can be found under the Main Development section of this post.
• Data Storytelling and Communication Skills for Households – On the Agenda from Wednesday 20/11/2024: Data Narrative and Communication Skills
Households can narrativize their data so that their insights can be understood by their audiences. In fact, most of them do narrativize their data. They can make their narratives more effective than they may think.
To build an effective data narrative, they need to define their goals and their target audience, to include basic analysis storytelling elements and make their data story human, insightful and impactful. They are also required to build or develop the skills relating to data narrative and communication. This note is about the skills they can develop to that effect.
To approach these skills, we have organised our note in the following order:
σ What is data narrative?
σ What are data narrative skills?
σ Artificial Intelligence (AI) data narrative assistant for households
σ Communication skills linked to data narrative
σ Working with the Community Members on Data Narrative and Communication Skills for Households
σ Homework for the end of the Week.
Let us look at each of these above-mentioned items.
• • What Is Data Narrative?
To explain it, let us refer to the argument of Harvard Business School Online (1), which is:
“A verbal or written narrative, also called a storyline, is used to communicate insights gleaned from data, the context surrounding it, and actions you recommend and aim to inspire in your audience”.
Harvard Business School Online also explains that data storytelling uses the same narrative elements as any story you have read or heard before: characters (key players), setting (set the scene), conflict (definition of root cause of any problems) and resolution (proposition for solution).
Similarly, ‘springboard.com’ (2) argues that
“Just like the stories you watch on TV or read in books, a data narrative needs to have a structure. Where do you want your audience to begin? Where does the story end? How will you get them there?”.
Therefore, ‘springboard.com’ suggests to include in your data narrative the right details, provide the right context, give actionable information, etc.
Many households, especially those with kids at school, deal with narratives or storylines sometimes to help their children with homework.
What this note is mostly concerned is data narrative skill.
• • What Are Data Narrative Skills?
Let us begin with narrative skills. Baby Sparks (3) explains that
“Narrative skills, also known as storytelling skills, help us retell events, tell stories, give instructions, comprehend what we read, and more – in organised, efficient, and engaging ways”.
From our understanding of narrative skills, we can extend this comprehension to data.
According to ‘lazarinastoy.com’ (4),
“Data narrative skills are the skills to convey insights, to communicate wins, to instil urgency, to raise awareness of the project components, to communicate with stakeholders about your cause and impact effects”.
All households use these skills without sometimes realising they are practising narrative or storytelling skills. They need to find ways of working that enhance these skills to better narrate their stories. Amongst these ways, we can mention working in collaboration with the assistance of Artificial Intelligence (AI).
• • AI Data Narrative Assistant for Households
With the advancement of technology, many people and households have apps (e.g. Alexia) in their mobile phone to remind them many things including time. Similarly AI-skilled households can benefit from the assistance service of AI to help them craft their narrative. They can review it, approve it and make it their final story. However, they need to make sure that they lead and control their narrative game, not AI-powered Natural Language Generation.
So, households can use Generative AI to generate personalised narratives based on their audience. For that, they also require to possess some communication skills relating to data narrative.
• • Communication Skills Linked to Data Narrative for Households
As data narrators, households need the skills…
σ to explain their analysis, data models and findings
σ to share justifications or reasons for their conclusions
σ to summarise findings
σ to report information
σ to adapt their message to their audiences
σ to relativize their message to their communication channels
σ to prevent confusion and misunderstanding in their communication about data
etc.
CENFACS Community members can work with CENFACS either to acquire the above-mentioned skills or to improve them.
• • Working with the Community Members on Data Narrative and Communication Skills for Households
CENFACS can work with those who need help and support on data narrative and communication skills so that they can tell their stories with impact.
• • • How can CENFACS do it?
CENFACS can work with those households struggling to narrate their stories so that they can be empowered with skills to perform the following activities:
σ Use narrative or storytelling techniques to communicate data and evidence about their needs
σ Improve their data narrative journey and the quality of their data narrative
σ Leverage data to support critical processes in data narrative in the context of households
σ Gain and communicate relevant insights into data narrative in an easy and effective way
σ Connect with others via data storytelling
σ Make better data-centric decisions on things that matter for households
etc.
Since Data Storytelling and Communications Skills for Households make up our Data and Insight Advocacy and Skills Project, we can conduct with them basic data and insights analytics using the tools of poverty reduction we have in our box.
Where our capacity is limited in comparison to their demand or specific needs, we can signpost or refer them to relevant data insight and analytics services or organisations that are available on the market and can be accessible to them to help them meet their needs.
For those members of our community who will be interested in Data Narrative and Communication Skills for Households, they can contact CENFACS. CENFACS can work with them to enhance their Data Narrative and Communication Skills.
• • Homework for the End of the Week: Use AI to Tell Your Data Story
You can use Generative AI to brainstorm your narratives. Both households with AI skills and non AI-skilled households can do it as long as they learn how to do it. They can use Generative AI to generate personalised narratives based on their audiences. However, they should be in command of their story/narrative, not AI.
This homework is part of strategy for keeping the households making our community in tune with technology that invades all areas and institutions of our lives, including households. No one of these households wants to lag behind if they want to reduce and possibly end poverty linked to the lack of AI skills.
Those who have any queries about this homework, they can submit their queries to CENFACS.
To get any further insight into Skills Development Month at CENFACS, please continue to read our weekly posts.
• Rescuing Children’s Education in Africa: Only 13 Days to Go!
The United Nations Children’s Fund (5) notes that
“Millions of children across Africa still lack access to schooling due to ongoing conflicts across the continent… In West and Central Africa alone, more than 14,000 schools are closed mainly due to conflict, affecting 2.8 million children”.
As a way of keeping education alive for these unfortunate children living in those parts of Africa in conflict or crisis (like in the Democratic Republic of Congo, Central African Republic, Burkina Faso, Mali, Niger, etc.), many types of initiatives have been so far taken to support these children.
These initiatives have been carried out by organisations (such as the United Nations Children’s Fund) and people like you to help. Initiatives such as education by radio programme, back-to-school advocacy, delivery of school kits, etc. have been taken.
However, due to the immense educational challenge posed by the legacies of conflict, insecurity and violence; there is still a deep, intense and urgent educational need in many of these areas/parts of Africa.
This appeal, which is worded as or used the slogan ‘EVERY CHILD HAS RIGHT TO EDUCATION in Conflict Zones in Africa’ (in short: EVERY CHILD HAS RIGHT TO EDUCATION), has already started and will make CENFACS‘ fundraising campaign for Giving Tuesday on 03 December 2024.
We would like people who may be interested in our philanthropic mission to join us in this campaign to Rescue Children’s Education in Africa.
We are asking to those who can to support these Educationally Needy Children via this campaign, not to wait the Giving Tuesday on 03 December 2024.
They can donate now since the needs are urgent and pressing.
Even a small donation can lead to a BIG impact.
To donate, please get in touch with CENFACS.
Extra Messages
• 2024 All Year Round Projects/Triple Value Initiatives (Play, Run and Vote Projects) and Chat-Powered AI Assistants
• Taking Climate Protection and Stake for African Children at the Implementation Level with Initial Implementation Sub-phase (Phase 3.3): Following Discussions and Announcements at COP29
• CENFACS be.Africa Forum E-discusses the Impact of Financial Prosecutor’s Office on Poverty Reduction in Africa
• 2024 All Year Round Projects/Triple Value Initiatives (Play, Run and Vote Projects) and Chat-Powered AI Assistants
CENFACS’ Triple Value Initiatives (or All Year-round Projects) have only one month to go.
The 2024 Edition of All Year-round Projects (AYRPs)/Triple Value Initiatives (TVIs) will be closed on 23 December 2024. You can still play, run and vote to reduce poverty before this verdict day.
CENFACS hopes that those who have been using these projects have managed to follow the steps relating to these three activities as summarised below.
• • Basic Steps Relating to All Year-round Projects
a) Run or Organise a Run Activity to Reduce Poverty in 2024
We hope that most of those who are undertaking or undertook the Run Project may have taken the following steps:
plan for their run event, set the goals they need, register participants to their event, get sponsors, promote their event, involve volunteers in their event, bring the community together, prepare the logistics and celebrate their wins.
They can even include a fundraising feature while keeping the essence of this project, which is to help reduce poverty.
b) Play CENFACS League for Poverty Relief
It can be expected that those who are undertaking a Play Project are or were able to follow these steps:
choose a theme, select their teams to make the league, write the script and register the performance, find a venue and set a date for their event, promote their event, market their event, engage the audience, and celebrate the wins.
They can as well insert a fundraising element while keeping the focus of this project, which is on finding the African countries that manage to best reduce poverty in 2024.
c) Vote 2024 African Poverty Relief Manager
We can anticipate that those who are organising a Vote Project are able to use the following qualities and skills to find their manager:
experience in poverty reduction, strategic thinking, leadership skills, community engagement, collaboration and networking, cultural feeling, passion and commitment in poverty reduction work, etc.
They can add a fundraising drive in the organisation of their Vote Project while preserving the integrity of this project, which is to select the international development and poverty reduction manager of 2024.
• • Working with Chat-Powered AI (Artificial Intelligence) Assistants
Those who have AI skills or would like to experiment the use of Chat-Powered AI Assistants in their project, they can try using a chat-powered AI assistant that can help them with tasks and web research (particularly those using the Play Project).
They can use AI in the management of their AYRPs/TVIs. They can use it to plan their project, to improve components and communications of their project and to execute their project in efficient and effective way.
However they should remember that what we would like to hear from them are the following three bests or stars of the year 2024:
√ The Best African Countries of 2024 which would have best reduced poverty
√ The Best African Global Games Runners of 2024
√ The Best African Development Managers of 2024.
The deadline to tell us your bests or stars of this year-end is 23 December 2024.
Please remember, don’t miss this verdict day or closing date.
To tell us your results or to enquire about these projects, please contact CENFACS.
• Taking Climate Protection and Stake for African Children at the Implementation Level with Initial Implementation Sub-phase (Phase 3.3): Following Discussions and Announcements at COP29
Like anyone who is interested in global climate talks, we are following COP29. We are also discussing the announcements made so far at COP29, such as
σ Energy transition announcement from the African Energy Commission, which launched a continent level Energy Efficiency Programme, Strategy and Action Plan
σ Baku Priority International Actions
σ The Breakthrough Agenda’s new Hydrogen Action Declaration
σ The listing of CIF Capital Markets Mechanism (CCMM) on the London Stock Exchange
σ Actionable measures to unlock the energy efficiency investment
σ Call for action to remove trade barriers
etc.
We are discussing these policy/action announcements and how they will respond to our key demand of giving a climate stake to children.
Our discussion also includes the way of capturing the key moments and messages in relation to our demand to give a climate stake to children, and to our slogan which is: Baku Implements It for Children.
We are as well considering the key points discussed at various pre-COP29 climate meetings and events held so far. We are reflecting on how these pre-COP29 and COP29 Talks can fit into CENFACS’ CPSAC and its sub-phase 3.3.
To support CENFACS’ CPSAC and its sub-phase 3.3, please contact CENFACS.
• CENFACS be.Africa Forum E-discusses the Impact of the Financial Prosecutor’s Office on Poverty Reduction in Africa
Jules Alingete Key (6) – Inspector General of Finance, Head of Service at the General Inspectorate of Finance of the Democratic Republic of Congo – made some proposals on the improvement of the Congolese State’s tax assets. Among these proposals is the creation of a financial prosecutor’s office to respond to the problems of embezzlement of public funds and the inadequacy of traditional prosecutors’ offices to respond to financial crimes.
CENFACS be.Africa Forum discusses the impact of such a financial prosecutor’s office on poverty reduction in Africa. The Forum examines if there are similar financial prosecutors’ offices in Africa and their impact on poverty in the countries where they are located.
It is possible that the creation of a financial prosecutor’s office could improve public financial management in Africa. In the same way, the creation of a training school for a new layer of lawyers (for example, lawyers trained in finance, accounting and economics, let’s call them economist or financial or accounting lawyers) can bring a new deal in terms of judgments rendered against people involved in public financial crimes, regardless of legal status.
Nevertheless, no one is sure whether or not the financial prosecutor’s office and the new training school for accounting, economic and financial lawyers will make it possible to reduce poverty linked to the monopolization of public funds by a minority of African populations against the often poor majority. To settle the points of view of each other, we are organizing this discussion.
Those who have ideas to contribute on the creation of a financial prosecutor’s office and its impact on poverty reduction in Africa are asked to make them know.
If you have an answer or an argument to make on this subject, please do not hesitate to let CENFACS know. This subject or discussion is also part of the United Nations Sustainable Development Goal 16 and Target 4 (7).
Goal 16 is to promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels.
Target 4 of Goal 16 is to significantly reduce illicit financial and arms flows, strengthen the recovery and return of stolen assets and combat all forms of organized crime, by 2030.
The subject and discussion are finally part of CENFACS‘ work on the recovery of illicitly-acquired and -obtained assets to make the resources to reduce poverty in Africa.
Those who may be interested in this discussion can join our poverty reduction pundits and/or contribute by contacting CENFACS be.Africa Forum, which is a forum for discussion on poverty reduction and sustainable development issues in Africa and which acts on behalf of its members by making proposals or ideas for actions for a better Africa.
To contact CENFACS about this discussion, please use our usual contact information on this website.
Message in French (Message en Français)
• Le Forum ‘Une Afrique Meilleure’ de CENFACS e-discute de l’ Impact du Parquet Financier sur la Réduction de la Pauvreté en Afrique
Jules Alingete Key (6), Inspecteur Général des Finances, Chef de Service à l’Inspection Générale des Finances de la République Démocratique du Congo, a fait quelques propositions sur l’amélioration du patrimoine fiscal de l’État congolais. Parmi ces propositions figure la création d’un parquet financier pour répondre aux problèmes de détournement de fonds publics et à l’inadéquation des parquets traditionnels pour répondre aux délits financiers.
Le Forum ‘me. Afrique’ discute de l’impact d’un tel parquet financier sur la réduction de la pauvreté en Afrique. Le Forum examine s’il existe des parquets financiers similaires en Afrique et leur impact sur la pauvreté dans les pays où ils sont implantés.
Il est possible que la création d’un parquet financier puisse améliorer la gestion des finances publiques en Afrique. De la même manière, la création d’une école de formation pour une nouvelle couche de juristes (par exemple, des juristes ou juges formés en finance, en comptabilité et en économie, appelons-les juristes ou juges économistes ou financiers ou comptables) peut apporter une nouvelle donne en termes de jugements rendus contre des personnes impliquées dans des délits financiers publics.
Néanmoins, personne n’est sûre que le parquet financier et la nouvelle école de formation des juristes ou juges comptables, économiques et financiers permettront de réduire la pauvreté liée à la monopolisation des fonds publics par une minorité de populations africaines contre la majorité souvent pauvre. Pour régler les points de vue des uns et des autres, nous organisons cette discussion.
Ceux ou celles qui ont des idées pour contribuer à la création d’un parquet financier et à son impact sur la réduction de la pauvreté en Afrique sont priés de les faire connaître.
Si vous avez une réponse ou un argument à faire valoir à ce sujet, s’il vous plaît n’hésitez pas à le faire savoir au CENFACS. Ce sujet ou discussion fait également partie de l’Objectif de Développement Durable 16 et Cible 4 des Nations Unies (7).
L’objectif 16 est celui de promouvoir des sociétés pacifiques et inclusives aux fins du développement durable, d’assurer l’accès à la justice pour tous/toutes et de mettre en place des institutions efficaces, responsables et inclusives à tous les niveaux.
La cible 4 de l’objectif 16 est de réduire considérablement les flux financiers et d’armes illicites, de renforcer le recouvrement et la restitution des avoirs volés et de lutter contre toutes les formes de criminalité organisée, d’ici à 2030.
Le sujet et la discussion s’inscrivent enfin dans le cadre des travaux du CENFACS sur la récupération des avoirs illicitement acquis et obtenus pour en tirer les ressources de la réduction de la pauvreté en Afrique.
Ceux ou celles qui pourraient être intéressé(e)s par cette discussion peuvent se joindre à nos experts en réduction de la pauvreté et/ou contribuer en contactant le ‘me.Afrique’ du CENFACS (ou le Forum ‘Une Afrique Meilleure’ de CENFACS), qui est un forum de discussion sur les questions de réduction de la pauvreté et de développement durable en Afrique et qui agit au nom de ses membres en faisant des propositions ou des idées d’actions pour une Afrique meilleure.
Pour communiquer avec le CENFACS au sujet de cette discussion, veuillez utiliser nos coordonnées habituelles sur ce site Web.
Main Development
• Matching Organisation-Investor via African Art Investment
The following items explain this Autumn project:
σ What Is a Matching Organisation-Investor via African Art Investment?
σ The Aim of This Project
σ Why Investing in African Art?
σ How Can Africa-based Sister Organisations and Not-for-profit Art Investors be Matched through This Project?
σ Matching Guidelines
σ Benefits of Matching Organisation and Art Investors under This Project
σ Outcomes of Matching Organisation-Art Investor
σ Plan for 4-week Matching Programme
σ 20 to 26/11/2024: Matching Organisation-Art Investor Activity 1
Let us highlight each of the above-mentioned items.
• • What Is a Matching Organisation-Investor via African Art Investment?
Matching Organisation-Investor via African Art Investment, which is part of CENFACS’ Matching Organisation-Investor Programme, is a set of activities by which organisations (here Africa-based Sister Organisations) are matched against not-for-profit (n-f-p) investors (here art investors). The project will use n-f-p investors’ description of their requirements to fit organisations’ needs via a fit test.
Matching Organisation-Investor via African Art Investment is indeed an exercise to support Africa-based sister Art Charitable Organisations (ASACOs) and n-f-p art investors to realise their respective festive dreams and ambitions in terms of African art investment so that they can freshly start 2025. The exercise is meant to keep their respective dreams alive and to awake their potentials to grab any existing opportunities within the n-f-p market.
For those ASACOs and n-f-p art investors willing to realise their year-end dream of winning an investment for the former and a share for the latter, this end-of-year and festive Season project is a marvellous opportunity for each of them.
• • The Aim of This Project
The aim of this Autumn 2024 Project is to reduce poverty amongst the people in need in Africa; poverty that could be due to the lack of best match or fit between ASACOs’ needs and not-for-profit art investors’ interests. Where the needs of the ASACOs best meet or match the vested interests of not-for-profit art investors, there could be high probability to reduce poverty amongst the beneficiaries of ASACOs. The match probability could be high or average or low depending on how much ASACOs’ needs meet investors’ interests. However, investors’ interest is not always profit. This is why we speak about not-for-profit art investors.
• • Why Investing in African Art?
There are various reasons to invest in art in Africa. For example, the website ‘berjartgallery.com’ (8) highlights that
“In the Africa Wealth Report 2023, the continent’s fine art market is valued at over $1.8 billion”.
Also, the same ‘berjartgallery.com’ explains that
“Investing in African art offers a range of opportunities for both seasoned collectors and newcomers to the art market… Investing in African art can yield significant financial returns. The rising demand and value of African networks present an opportunity for investors seeking alternative investments to diversify their portfolios”.
For all these reasons, including that of reducing poverty, investing in African art can provide a niche for ASACOs that would like to take that path to generate the extra income they need in order to reduce poverty in Africa. Equally, those n-f-p art investors who would like to invest in African art via ASACOs, they will find that African art has cultural and economic value that has been recognised. Also, African art market continues to evolve with promising opportunity and future.
Furthermore, ASACOs need good strategies for successful investment in African art. The website ‘berjartgallery.com’ (op. cit.) spells out some of these strategies.
• • How Can Africa-based Sister Organisations and Not-for-profit Art Investors Be Matched through This Project?
The matching happens through the two main components of this activity, which are Impact Advice to ASACOs and Guidance to Not-for-profit Art Investors for Impact.
• • • What Is Impact Advice to ASACOs?
It is an approach to or methodology of working with ASACOs that uses a theory of change to measure impact following advice given on project planning.
Impact Advice to ASACOs is about
√ Working with ASACOs to overcome their project planning problems
√ Helping them to improve their project planning processes, knowledge, skills and capabilities
√ Making sure that project planning benefits the users and communities they serve, particularly those living in poverty
√ Ensuring that project planning tackles the root causes of poverty and hardships
Etc.
Impact Advice uses impact measuring tools and frontline metrics to track results and outcomes.
• • • Guidance to Not-for-profit Art Investors for Impact
This is a service we offer to those n-f-p investors who would like to not-for-profit invest for impact in Africa’s not-for-profit organisations and charitable causes. To understand this service, one needs to know “What is a Not-for-profit Investment?” (9)
A Not-for-profit Investment is a sum of money puts into a not-for-profit organisation in order to help this organisation achieve its not-for-profit mission. Not-for-profit means that the organisation is not engaged in the activity of realising a greater difference between its sales revenue and total costs. Instead, the organisation aims at providing services without making profit, services that benefit its members or the community as specified in its governing document.
This not-for-profit investment can be in the physical or financial form. Therefore, there are two types of investment that not-for-profit investors can choose in order to engage in, which are: physical or real investment and financial investment.
This guidance is based on not-for-profit investment and impact investing. What is impact investing?
According to ‘evpa.ngo’ (10),
“Investing for impact is an impact strategy followed by investors that adopt the venture philanthropy approach to support social purpose organisations maximising their social impact. Investors for impact support innovative solutions to pressing societal issues, providing in-depth non-financial support and taking on risks that most of other actors in the market cannot – or are not willing to take”.
Briefly, Africa-based Sister Art Charitable Organisations and Not-for-profit Art Investors can be matched via Impact Advice on project planning for the former and Guidance on Impact Investing for the latter. They can as well be advised on project appraisal. To realise a successful match, some guidelines need to be followed.
• • Matching Guidelines
To carry out matching, one needs to know the profile of the organisation that is looking for not-for-profit art investment, the specification or description of the art investor, and identification of possible ways of matching organisation’s profile and investor’s specification.
• • Benefits of Matching Organisation and Art Investors under This Activity
There are benefits when organisations’ needs match not-for-profit investors’ interest. These benefits include:
√ Cost-effectiveness as the activity reduces the costs for both organisations (for instance, the costs of looking for investment) and art investors (e.g., the costs of finding the right organisation in which to invest)
√ Reduction of opportunity costs between the two parties (i.e., investee and investor) engaged in the activity
√ Creation and sustenance of relationships between organisations and investors
√ Problems-solving mechanisms or solutions for organisations’ problems and needs, and solutions to investors’ requests
√ Opportunity for a fit test (i.e., testing organisation-art investor fit on mutual interests and contribution to the right decision)
√ Qualitative feedback about Organisation-Art Investor and background knowledge
√ Better decision-making processes for the two parties (e.g., organisations and investors)
Etc.
• • Outcomes of Matching Organisation-Investor via African Art Investment
It is better to differentiate outcomes for not-for-profit investors from those relating to Africa-based Sister Art Charitable Organisations and Causes.
• • • Outcomes for Not-for-profit Investors
The matching project will provide peace of mind for n-f-p art investors and a good return in terms of the rate or size of poverty reduction they will expect from the organisations or causes in which they will invest or support.
• • • Outcomes for Africa-based Sister Art Charitable Organisations and Causes
The matching project will enable them to access the type of investment they need and build the capacity they are lacking. In doing so, this helps them to achieve their project aims, objectives and key deliverables with peace of mind.
• • Plan for 4-week Matching Activities
As part of CENFACS‘ Matching Organisation-Investor via African Art Investment, we are running a 4-week matching activities to support both art charitable organisations and not-for-profit art investors. It is a 4-week work about Impact Advice Service for art charitable organisations and Guidance Service on Impact Investing for not-for-profit art investors.
CENFACS‘ Matching Organisation-Investor via African Art Investment is based on 4-stage style of investment lifecycle. To implement this style, we have referred to the four stages of project planning from ‘coursera.org’ (11), stages which are
Phase 1: Define project scope and goals
Phase 2: Agree on a project schedule, timelines, and milestones
Phase 3: Establish roles and teams
Phase 4: Plan and establish project documentation.
We have adapted these stages to our matching project.
However, let us recognise that there could be more than four stages in any art investment lifecycle. Because we set up some boundaries by limiting ourselves to deliver this matching project in four weeks, we choose a four-stage model for art investment lifecycle.
The matching project is designed to work with both those seeking not-for-profit art investors and those who would like to invest in the not-for-profit art charitable organisations and causes. The following is our action plan.
Notes to table no. 1:
(*) Match periods are portions of time intended to help discover whether or not investors’ interests match organisations’ needs
(**) Match points are the different stages of project planning which are points for negotiation.
If you want advice, help and support to find not-for-profit art investors; CENFACS can work with you under this 4-week Matching Organisation-Investor via African Art Investment, starting from 20 November 2024.
If you need guidance to outsource art charitable organisations and causes in Africa; CENFACS can work with you under this 4-week Matching Organisation-Investor via African Art Investment, starting from 20 November 2024.
These matching activities are a rare opportunity for an art charitable organisation to realise their Festive dream of getting an investment they badly need. They are also an unbelievable occasion for a not-for-profit art investor to find Festive peace of mind through a suitable organisation in which to invest in Africa.
Need to engage with Matching Organisation-Investor via African Art Investment, please contact CENFACS.
• • 20 to 26/11/2024: Matching Organisation-Investor via African Art Investment –
Activity/Stage 1: Define the Scope and Goals of Art Investment Project
There are many scenarios in which a investor can invest in an organisation. In our scenario or model of matching organisation-investor programme, we are trying to bring an art investor in an Africa-based Sister Art Charitable Organisation and/or Cause through the definitions of the scope and goals of Art Investment Project to be Initiated by this ASACO. We are trying to match ASHCOs’ Definition of project scope and goals with an art investor’s requirements relating to this stage 1.
In order to match organisation’s definitions of project scope and goals with investor’s requirements at this stage, one needs to understand the meaning of project scope and goals. However, before explaining them, let us first explain art investment.
• • • What is art investment?
According to ‘financestrategists.com’ (12),
“Art investment refers to the buying and selling of artworks as a means of investing capital. It is a form of alternative investment that offers potential for high returns, diversification of investment portfolios, and cultural and aesthetic value”.
In other words, it involves purchasing artworks with the expectation that their value will appreciate over time, providing financial returns when sold.
Knowing what is involved in art investment, ASACO wants to implement its art investment project as a valuable addition to diversify its portfolio so that it can improve its mission of poverty reduction in Africa. However, it needs to explain its project scope and goals as a starting point to the not-for-profit art investor.
• • • What is project scope? What are project goals?
• • • • What is project scope?
According to ‘coursera.org’ (op. cit.),
“In project planning, scope refers to the features and functions that a project will deliver. The scope definition is a statement that frames the goals of a proposed project. The scope management helps determine and control what your project will deliver”.
From these definitions, ASACO needs to clearly define the features and functions that art investment project will deliver. Equally, it will specify how it will try to determine and control what its art investment project will deliver.
For instance, ASACO can explain how it will use the opportunity of the art market in Africa to combine the need of poverty reduction and the potential for financial gain to invest in its poverty reduction mission. It can also argue that this will enable it o build diverse art portfolio while working with African art institutions and galleries. In doing so, this will help it to reap the rewards or benefits of its art investment.
• • • • What are project goals?
The word ‘goal’ can be perceived in many ways. For instance, the website ‘dictionary.com’ (13) defines it as
“The result or achievement toward which effort is directed”.
In project and development parlance, the word ‘goal’ has a specific meaning. Britha Mikkelsen (14) notes that
“Goal is the higher-level objective towards which the project/intervention is expected to contribute” (p. 42)
For Britha Mikkelsen (p. 165), goals are often expressed in non-technical, qualitative terms – for example, ‘to reduce income poverty’. Goals come with indicators and indicators are used to measure goals – for example, ‘poverty’, measured by the level of consumption insufficient to fulfil minimum food and other basic needs is known as poverty line. Goals associated with indicators become goal indicators, like the United Nations’ Sustainable Development Goal Indicators (op. cit.). Indicators can be SMART (that is, Specific, Measurable, Attainable/Achievable, Realistic and Time-bound); just as goals can be SMART. Also, measuring goals through indicators may not be enough unless one has targets attached to them. Targets are the levels of indicators that one wants to achieve by a given time – for example, ‘to reduce income poverty by 2 per cent by 2025’.
In the context of the art investment project, ASACO’s effort is directed toward income boost in order to realise its mission of reducing poverty in Africa.
However, to pass this first stage of initiating the art investment project, ASACO is required to respond to the issues raised by the not-for-profit art investor.
• • • What the not-for-profit art investor would like to know
The not-for-profit art investor wants clarification on a number of points such as ASACO’s business model, business approach or methodology, risk linked to ASACO’s art investment, and the use of technology.
Let us clarify these points.
a) ASACO’s business model
The not-for-profit art investor would like to know if ASACO’s business model is sustainable, that is can generate financial returns to allow the invested capital to be recycled, support ASACO’s cause of poverty reduction, and achieve a strong impact. He/she wants to know the scalability of this model (that is, the ability to reach larger audiences), whether or not ASACO has a clear financial plan (that outlines income streams, expenses and projected growth). In other words the not-for-profit art investor is keen to know if ASACO’s business model is sustainable, scalable, financially viable and able to measure/produce impact successfully.
b) ASACO’s business approach or methodology
The not-for-profit art investor wants to be reassured that ASACO is approaching art investment in Africa with careful consideration and knowledge, whether or not it conducted a thorough market research on African art ecosystem, it will engage with other art players such as experienced art institutions, galleries and advisors in the field.
c) Risk associated with art investment
For the not-for-profit art investor, investing in art can be risky business as it is difficult to determine what art will appreciate and how much it will appreciate. It is even more difficult where there is high level of poverty like in many places in Africa. This is despite the rising demand and value of African artworks.
d) Use of technology
The not-for-profit art investor would like to be informed if ASACO will use technology such as NFTs (non-fungible tokens) or AI-powered tools to analyse art market and make informed investment decisions. In other words, he/she would like to be sure that ASACO has done a careful evaluation of the dynamics of the African art market.
ASACO needs to provide satisfactory answers to the above-mentioned points raised by the not-for-profit art investor. Failure to provide these answers may not help the matching talks to go ahead or to progress. In other words, there should be an agreement between ASACO’s Project Initiation Stage (that is, the definitions of project scope and goals) and N-f-p Art Investor’s Approach to ASACO’s Project Initiation Stage. If there is a disagreement, then the talks/negotiations could be subject to match or fit test.
• • • The Match or Fit Test
As part of the match or fit test, n-f-p Art Investor’s view on ASACO’s Initiation Stage must be matched with the information coming out of ASACO’s initiation process.
The match can be perfect or close in order to reach an agreement. If there is a huge or glaring difference between the two (i.e., between what the investor wants and what ASACO is saying about its initiation process, between what the investor would like the initiation phase to indicate and what ASACO’s initiation process is really saying), the probability or chance of having an agreement at this first round of negotiations could be null or uncertain.
• • • Impact Advice to APRC and Guidance to n-f-p Art Investor
CENFACS can impact advise ASACOs to improve the presentation of the process they are initiating. CENFACS can as well guide n-f-p art investors with impact to work out their expectations in terms of the initiation process to a format that can be agreeable by potential ASACOs. CENFACS’ impact advice for ASACOs and guidance on impact investing for n-f-p art investor, which are impartial, will help each of them (i.e., investee and investor) to make informed decisions and to reduce or avoid the likelihood of any significant losses or misunderstandings or mismatches.
• • • The Rule of the Matching Game
The rule of the game is the more art investors are attracted by ASACOs’ initiation process the better for ASACOs. Likewise, the more ASACOs can successfully respond to art investors’ level of enquiries and queries about the initiation process the better for investors. In this respect, the matching game needs to be a win-win one to benefit both players (i.e., investee and investor).
The above is the first stage or activity of the Matching Organisation-Investor via African Art Investment.
Those potential organisations seeking investment to set up an art project in Africa and n-f-p art investors looking for organisations that are interested in their giving, they can contact CENFACS to arrange the match or fit test for them. They can have their fit test carried out by CENFACS’ Hub for Testing Hypotheses.
• • • CENFACS’ Hub for Testing Hypotheses
The Hub can help to use analysis tools to test assumptions and determine how likely something is within a given standard of accuracy. The Hub can assist to
√ clean, merge and prepare micro-data sources for testing, modelling and analysis
√ conduct data management and administration
√ carry out regression analysis, estimate and test hypotheses
√ interpret and analyse patterns or trends in data or results.
For any queries and/or enquiries about this first stage/activity of Matching Organisation-Investor via African Art Investment, please do not hesitate to contact CENFACS.
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• References
(1) https://online.hbs.edu/blog/post/data-storytelling (accessed in November 2024)
(2) https://www.springboard.com/blog/data-science/data-storytelling/ (accessed in November 2024)
(3) https://babysparks.com/20/9/02/20/narrative-skills-what-are-they-how-do-they-develop (accessed in November 2024)
(4) https://lazarinastoy.com/ultimate-guide-to-data-storytelling-for-marketing-and-data-consultants/ (accessed in November 2024)
(5) https://www.unicef.org/esa/press-releases/unicef-alarmed-continued-attacks-education-conflict-zones-africa (accessed in October 2024)
(6) https://actualite.cd/2024/11/10/etats-generaux-de-la-justice-jules-alingete-deplore-un-accompagment-timide-et-mitige#google_vignette (accessed in November 2024)
(7) https://sdgs.un.org/2030agenda (Accessed in January 2023)
(8) https: //www.berjartgallery.com/news/investing-in-african-art-exploring-a-lucrative-opportunity (accessed in November 2024)
(9) cenfacs.org.uk/2023/02/08/africa-not-for-profit-investment-outlook-2023/ (accessed in February 2024)
(10) https://www.evpa.ngo/impact-glossary (accessed in February 2024)
(11) https://www.coursera.org/articles/project-plan?msockid=3ae3b6238601661709bca4468726673b (accessed in November 2024)
(12) https://www.financestrategists.com/wealth-management/alternative-investment/art-investments/(accessed in November 2024)
(13) https://www.dictionary.com/browse/goal (accessed in November 2024)
(14) Mikkelsen, B. (2005), Methods for development work and research: a new guide for practitioners, 2nd ed., Sage Publications, New Delhi, California & London
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• Help CENFACS Keep the Poverty Relief Work Going This Year
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