JFPI Corporation
Encyclopedia
JFPI Corporation is an international closed-end investment and economic empowerment conglomerate
based in Africa
.
While 100% of the shares are owned by private individuals, it is managed by a 53-member Board of Directors
, representing each nation contained by Africa.
JFPI promotes the growth of productive private enterprise throughout Africa and is the continent's leading advocate of Black Economic Empowerment
(BEE).
It invests in private enterprises in such countries without government
guarantee and its investments form part of a larger amount of capital put up by private local or foreign investors.
JFPI also invests in projects financed jointly by African governments and private investors.
The multinational corporation
also provides financing by investing in the enterprises capital stock, by granting loans or by combinations of the two.
In addition to conducting research on international economic and monetary matters, JFPI also underwrites issues of corporate securities, provides financial and technical assistance to private development banks and seeks the investment of private capital to supplement its own.
JFPI started operating in 1982 and has become Africa’s largest holding company
to date.
It specializes in the area of diamond
s and serves as the parent company
to many of its wholly owned subsidiaries.
JFPI Corporation has its dual headquarters
in Kinshasa
, Democratic Republic of Congo and Luanda
, Angola
.
The firm is headed up by its chairman, M'zée Fula Ngenge
.
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
based in Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
.
While 100% of the shares are owned by private individuals, it is managed by a 53-member Board of Directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
, representing each nation contained by Africa.
JFPI promotes the growth of productive private enterprise throughout Africa and is the continent's leading advocate of Black Economic Empowerment
Black Economic Empowerment
Black Economic Empowerment is a programme launched by the South African government to redress the inequalities of Apartheid by giving previously disadvantaged groups economic opportunities previously not available to them...
(BEE).
It invests in private enterprises in such countries without government
Government
Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...
guarantee and its investments form part of a larger amount of capital put up by private local or foreign investors.
JFPI also invests in projects financed jointly by African governments and private investors.
The multinational corporation
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...
also provides financing by investing in the enterprises capital stock, by granting loans or by combinations of the two.
In addition to conducting research on international economic and monetary matters, JFPI also underwrites issues of corporate securities, provides financial and technical assistance to private development banks and seeks the investment of private capital to supplement its own.
JFPI started operating in 1982 and has become Africa’s largest holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
to date.
It specializes in the area of diamond
Diamond
In mineralogy, diamond is an allotrope of carbon, where the carbon atoms are arranged in a variation of the face-centered cubic crystal structure called a diamond lattice. Diamond is less stable than graphite, but the conversion rate from diamond to graphite is negligible at ambient conditions...
s and serves as the parent company
Parent company
A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company...
to many of its wholly owned subsidiaries.
JFPI Corporation has its dual headquarters
Headquarters
Headquarters denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the top of a corporation taking full responsibility managing all business activities...
in Kinshasa
Kinshasa
Kinshasa is the capital and largest city of the Democratic Republic of the Congo. The city is located on the Congo River....
, Democratic Republic of Congo and Luanda
Luanda
Luanda, formerly named São Paulo da Assunção de Loanda, is the capital and largest city of Angola. Located on Angola's coast with the Atlantic Ocean, Luanda is both Angola's chief seaport and its administrative center. It has a population of at least 5 million...
, Angola
Angola
Angola, officially the Republic of Angola , is a country in south-central Africa bordered by Namibia on the south, the Democratic Republic of the Congo on the north, and Zambia on the east; its west coast is on the Atlantic Ocean with Luanda as its capital city...
.
The firm is headed up by its chairman, M'zée Fula Ngenge
André A. Jackson
André Action Diakité Jackson , , more commonly known by his African clan name "M’Zée Fula-Ngenge" , is a diamond industrialist and head of JFPI Corporation, Africa's largest holding company....
.