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 and Africa. The chamber operates as platform for exchanges between African and American business communities.
PAAC provides unique links between governments, relevant international institutions and business communities in Africa and America. PAAC is envisaged to be the instrumental in representing the voice of enterprise of its corporate members in the international fora.
WHAT WE DO
PAAC shares information and analysis on African business communities and emerging issues.
PAAC helps its members have a unique understanding of the emerging African America markets and who are the decision shapers of economic development in various African countries.
Build trustworthy relations
PAAC enables its members to become part of a network that triggers the development of one-to-one relations, enables synergies and cooperation among major 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 intelligence through events, conference calls and online exchanges. Working groups support the development of joint positions and it reaches out to policy-makers through conferences, partnerships and institutional communications.
PAAC relies on a simple, flexible and informal setup that allows its member corporations and or associations to exchange genuine views and develop direct and trustworthy relationships. Decisions are taken by consensus and all PAAC members benefit from the same rights.
The overall policy leadership is ensured by a CEO, chosen from one of the member corporate organizations and renewable every two years, the CEO coordinates and implements PAAC initiatives and policies drawn by a board of seven directors headed by the chamber’s board chairman.
An independent secretariat headed by the CEO, is funded by yearly contributions from members corporations or associations and returns on events/programs, the CEO manages the day-to-day functioning of the chamber, while ensuring the continuity of actions over time. The elaboration and conduct of the projects taken up by PAAC relies on the resources of its member’s Corporation and or 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 need to be fulfilled: independency, legitimacy, representativeness of a corporation/companies or association, commitment to keep the ethics of the chamber; viz.: Fairness, Respect, Responsibility and Honesty, adherence to the free market economy, interest in the African American agenda and in contributing actively to the chamber’s activities.
Patrons and Matrons
PAAC has a strong network of Patron and Matrons members ranging from world-leaders, African countries past Presidents, multinational corporations, conglomerates and Global business leaders to regional stake-holders. Patron and Matrons membership is bespoke, and our relationships are designed to meet their objectives. The Patron 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 Caribbean
The basic governance structure of PAAC includes the basic positions of board chair, board directors, secretary, treasurer, CEO, attorneys and managers. Board trustees often accept other positions as part of their board duties. Members of PAAC board trustees must chair at least one committee, such as one of the following:
- Public Relations & Social media
- Audit, Budget, Finance and Facilities
- Governance, Personnel and Ethics
- Secretarial and membership
- Executive Committee
- The executive committee acts as a steering committee.
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 managers.. 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 ex-officio member of all committees.
Roles and Responsibilities of the Board of Trustees
Simply put, the board of trustees 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 trustees.
As the final authority for the chamber, trustees make all legal and fiduciary decisions, although they delegate some specific powers and duties to others. The board of trustees 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 trustees also approve the annual budget and set major program budgets.
Roles and Responsibilities of the Trustee Secretary
The secretary of the board of trustees 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 trustees for board approval prior to 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.
Roles and Responsibilities of the General Counsel or Legal Team
This position is for an attorney with expertise in matters regarding chamber’s legal governance and other such issues related 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 of trustees on matters of chamber’s policy and to receive early warning of any potential legal problems. Regular and routine meetings between trustees 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 chamber’s operations, bringing such matters to the board of trustees 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
The CFO reports to the CEO, the 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 trustees to analyze and understand financial reports in order to assist them in decision-making. As all trustees 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 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.
Roles and Responsibilities of the CEO
TheCEO 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 of trustees, 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 of trustees 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 Upper Management; reporting to the CEO
Upper management, consisting of the CFO and COO reports to the CEO and the teams under them oversee the duties of lower management personnel. Upper managers carry the highest level of responsibility and they make the majority of impactful decisions throughout the chamber.
The upper managers delegate daily actions and decision-making to lower-level managers. This structure is in place so that upper 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 upper managerial level.