Since the Alliance was officially launched, several milestones have been achieved to ensure its operational success. These milestones have enabled the formation of a functional structure for members, a system for growing the membership and selecting projects, and the assurance of having a set of projects to use for initiating activity.
The project, membership and operational infrastructure that the Alliance has established since inception will be fully leveraged to ramp up its delivery mechanism for a more significant impact.
Two member categories, “Core” and “Associate” were finalized in October 2022. Core members are signatories to the Alliance working arrangement and are responsible for the initiative’s fundamental governance, strategy and administration. Associate members endorse the Alliance’s principles, form the initiative’s innovative layer, contribute products that address market failures, and actively support project development and implementation.
The qualifying criteria for an Alliance project were established, including: core members' participation, priority sectors, reach & replication, and principles for innovative project development. Initial projects were placed on the platform to spark dialogue and collaboration.
After productive and engaging consultations between the Alliance members, a Working Arrangement was finalized to formalize the collaboration between the core members of the Alliance. The Working Arrangement was drafted to meet the governance requirements of the core members, with a flexible framework that facilitates a streamlined partnership around agreed common goals.
The Alliance currently has 20 projects on the platform. Transitioning to operationalisation, project plenaries will focus on increasing the portfolio. The first plenary was held in March 2023, with participation from core members, investment & operational staff.
<p class="milestone-list-custom-paragraph">At the Paris Summit on June 2023, the AforE hosted a side event and announced the following first cadre of Associate Members to join the initiative.</p> <ul class="milestone-list-ul"> <li>AfricInvest</li> <li>Arab Bank for Economic Development in Africa </li> <li>Blue Like an Orange Sustainable Capital </li> <li>Equity Bank</li> <li>France Invest</li> <li>West African Development Bank </li> <li>West African Economic and Monetary Union</li> </ul> <p class="milestone-list-custom-paragraph">Associated Members contribute to the Alliance for Entrepreneurship in Africa by providing resources and expertise to further the mandate of the AforE. These new members bring their knowledge and networks to the AforE, helping to shape the initiative's direction and support building a strong base of investors and innovators to strengthen the impact of the AforE.</p>