Pan African American Chamber of Commerce (PAAC) brings together leading independent business associations, from the major world economies, and advocates on behalf of millions of small, medium and large companies in US, Africa, and the Caribbean. The Chamber operates as a platform for exchanges between African, American business communities and supporting organizations.
PAAC provides unique links between governments, relevant international institutions, and business communities in Africa and America. PAAC is envisaged to be instrumental in representing the voice of enterprise of its members in America, Africa, and the International communities.
WHAT WE DO
Information Sharing
PAAC shares information and analysis on American, African and Diaspora business communities and emerging issues.
Market Intelligence Sharing
PAAC helps its members to have a unique understanding of the emerging African, American and Caribbean markets; who are the decision shapers of economic development in various African countries and the Diaspora.
Building trustworthy relationships
PAAC enables its members to become part of a network that triggers the development of one-to-one relationships, enabling synergies and cooperation among business organizations that commit to the free market economy, fair trade & investment, and the imminent importance of the “Rule Of Law.”
THE CHAMBER’S INITIATIVES
PAAC members share market intelligence through events, business conferences, conference calls, and online exchanges. Workgroups support the development of collaborative partnerships and reach out to policy-makers through conferences, and institutional communications.
OUR STRUCTURE
PAAC relies on a simple, flexible and informal framework that allows its members, corporations and or associations to exchange genuine views and develop direct and trustworthy relationships. Decisions are made by consensus and all PAAC members benefit from having equal rights.
The CEO coordinates and implements PAAC initiatives and policies developed by a Trustee Board of seven directors headed by the chairman. The Chief Executive officer (CEO) is chosen from one of the member corporate organizations, and the CEO’s term is renewable every two years.
THE OVERALL POLICY
An independent secretariat headed by the CEO is funded by yearly contributions from member corporations and associations and returns on events and programs. The CEO manages the day-to-day operations of the Chamber while maintaining the continuity of actions over time. The execution of the projects taken up by PAAC relies on the resources of its member Corporations and associations, as well as ad-hoc working groups that provide additional expertise when required.
NEW MEMBERS ARE WELCOMED
To be a member of PAAC the following criteria should be met: independence, legitimacy, representativeness of a corporation/company or association; and commitment to keep the ethics of the Chamber; viz.: Fairness, Respect, Responsibility, and Honesty. Members are also required to adhere to the free market economy, interest in the African and American agenda and in contributing actively to the Chamber’s mission.
LEADERSHIP
Patrons and Matrons (BOT – of Trustees)
PAAC has a strong network of Patron and Matron members from world-leaders,: past Presidents of African countries, multinational corporations, conglomerates, and global business leaders, and regional stakeholders. Patron and Matron membership are highly regarded and respected positions and our relationships are designed to meet their objectives. The Patrons and Matrons network is developed to create a group of progressive thought-leaders to advise and help the chair of the Chamber to attain greater heights in achieving the objectives of the Chamber, which is mainly creation and maintenance of crucial bridge for businesses, trade and commerce between US, Canada, Africa and the Diaspora. The Chairman of the BOD – Board of Directors is a member of the BOT – Board of trustees
Board of Directors (BOD) Governance
The governance structure of PAAC includes the following positions: Board Chair, Vice-Chair, directors, secretary, treasurer, CEO, and attorney. The Board of Directors often accepts other operations positions as part of their board duties. Members of PAAC Board must serve on at least one committee, such as one of the following:
- Marketing, Public Relations & Social Media
- Legal Affairs, Ethics & Compliance
- Strategic Planning
- Audit, Budget, Finance, and Facilities
- Membership & Personnel
- Technology
- Youth Advisory
- Fundraising
- Executive Committee-The executive committee acts as a Steering Committee (Board Chair, Board Secretary, Committee Chair Persons)
Roles and Responsibilities of the Chairman of the Board
Using such tools as the board agenda and parliamentary procedure, the chairman of the board works with the CEO in defining the board’s responsibilities and setting the strategic direction for the Chamber. The board expects the board chair to know and understand the bylaws and policies and to make sure that the board operates on a policy level.
The board chair serves as the liaison between the board and the CEO. The CEO and managers are responsible for carrying out the strategic plans of the board. The board chair, in collaboration with the full board, oversees their work.
As in most governance structures, much of the board’s work happens in committees. To that end, the board chair serves as an ex-officio member of all committees.
Roles and Responsibilities of the Board of Directors
Simply put, the board of directors is the governing body of the Chamber. The board is responsible for strategic planning and oversight of the CEO, who is responsible for carrying out the plans of the board of directors.
As the final authority for the Chamber, the Board makes all legal and fiduciary decisions, however, they delegate some specific powers and duties to others. The board of directors is responsible for developing and approving the Chamber’s mission, strategic goals and objectives, and establishing policies related to programs and services. The board of directors also approved the annual budget and set major program budgets.
Board Secretary
Roles and Responsibilities of the Board Secretary
The secretary of the board is a member and officer of the board. The secretary of the board notes the main actions and decisions of the board during meetings and records them in the meeting minutes. After meetings, the secretary prepares the minutes for distribution to the members of the board review and approval at the next meeting.
The board secretary maintains all of the Chamber’s documents and records and makes them available for review by the board and bodies that regulate the Chamber. The Chamber maintains the articles of incorporation, bylaws, employee contact lists, financial records, and other records. Some of the records are confidential, so the board develops policies for who may access specific records, and under what circumstances they would allow it.
Working in conjunction with the board chair, the secretary must also file any required documents with the government as needed for compliance by the designated deadlines. The board chair and secretary have signing authority for legal documents, such as contracts, checks and credit applications on behalf of the Chamber.
Board General Counsel
Roles and Responsibilities of the General Counsel or Legal Team
This position is for an attorney with expertise in matters regarding the Chamber’s legal governance and other such issues related the Chamber’s activities. The attorney or legal team is composed of people with strong ethics and integrity.
The Chamber’s attorney is often present at board meetings to advise the board on matters of Chamber’s policy and to receive early warning of any potential legal problems. Regular and routine meetings between Board and attorney develop the necessary foundation for a mutually trusting professional relationship.
The Counsel works closely with the CEO to address legal matters that surface in the Chamber’s operations, bringing such matters to the board as necessary. The Chamber’s attorney has access to all reasonable means of obtaining information on which to base any advice and opinions, in fulfilling the responsibilities of protecting and preserving the legal interests of the Chamber.
Chamber attorneys also meet with auditors in executive session to answer their questions and avoid any unnecessary worries over financial matters. Much of the work of the Chamber Counsel is preventative in nature, such as working with the board to review policies and procedures.
Roles and Responsibilities of the Treasurer of the Board
The Chief Financial Officer (CFO) reports to the CEO, the Board treasurer has a supervisory role over the CFO.
The treasurer establishes budgeting priorities that correspond to strategic planning goals and objectives. The Treasurer is a financial expert who helps the Board to analyze and understand financial reports in order to assist them in decision-making. As all board members have fiduciary responsibilities, the treasurer helps the board to make sound decisions for allocating resources. Duties and responsibilities include establishing and monitoring internal controls according to approved procedures for processing financial transactions.
Part of the responsibility of the treasurer is an oversight on financial matters, the treasurer regularly reviews financial records to be sure that financial transactions are being recorded accurately and on a timely basis. Working in tandem with the board secretary, the treasurer ensures compliance with applicable laws and regulations, as well as the organization’s policies and procedures.
Chief Executive Officer (CEO)
Roles and Responsibilities of the CEO
The CEO is the primary management authority. The CEO has a close working relationship with the board chair, the CEO has excellent interpersonal and communication skills. A common vision between the CEO and the board chair spreads the necessary confidence and positive energy to tackle all Chamber’s issues.
The CEO of the Chamber is responsible for the administration of Chamber and activities and the organization as a whole. In conjunction with the board, the CEO makes policy recommendations on all matters that affect the Chamber, including additions or changes in personnel and personnel policies.
The treasurer has regular meetings with the CEO to discuss and report on the Chamber’s financial sustainability and budgetary concerns. Working together with the treasurer, the CEO prepares an annual budget with input from the board chair to present for board approval.
The board gives the CEO broadly based guidelines for running the Chamber, but the CEO has the authority to make most decisions according to his or her discretion. The CEO is also responsible for working with the board secretary to produce and file any necessary regulatory or compliance reports, as required by local, state and national authorities.
Roles and Responsibilities of Senior Management; Reporting to the CEO
Senior management, consisting of the CFO and COO, reports to the CEO and the managers under them oversee the duties of personnel staff. Senior managers carry the highest level of responsibility and they make the majority of impactful decisions throughout the Chamber.
The senior managers delegate daily actions and decision-making to the managers. This structure is in place so that senior managers can focus on keeping the Chamber profitable and sustainable, as well as making sure that the Chamber continually offers the highest possible quality of services. The overall success of PAAC is a direct reflection of the quality of expertise at its senior managerial level.