Wendy,
Thanks for raising this issue. For the record, I was
neither the Chairperson, nor the Vice or even the treasurer. I was not a
signatory to that account. I also raised the same issue during the
Science Cafe at the Nalya meeting. I was not a signatory to the account
and I was not in charge of the money. I also want my contribution. That
initiative had several flows. We did not have a fund manager, neither
where we educated about collective Investment Funds. We kept idle money
which I understand other members ended up borrowing. I do not know the
borrowers and I do not know whether borrowed funds where refunded. I did
not borrow any money from that fund. Avutia was the treasurer. I think
we shall cause a meeting of all the contributors of the Nile Initiative
for a meeting. That time, we also did not have the Anti Corruption
Court to Charge any
person who embezzles public funds. But this new initiative is under a
frame work of an organization which is Registered. The fund will be run
by a professional fund manager registered and regulated by the Capital Markets
Authority. I believe it will also be insured. For me I will try a short at it
when the necessary guidelines are adopted by the Forum.
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