Summary of Memorandum of Understanding (MOU)

Overview

Key Items for Discussion with the New Board and Interested Parties

1. Purpose of the Partnership

   • The Parties aim to work together to enhance Assin Praso’s community, heritage, culture, land, infrastructure, education, and events, leveraging their combined expertise and resources.
   • Specific focus: Develop Assin Praso as a Heritage Village, including a designated heritage site and adjacent tourist facilities.

2. Formation of The Assin Foundation

   • The Assin Foundation will be established as a community interest corporation limited by guarantee, registered under UK and/or Ireland laws, with plans for a subsidiary entity in Ghana post-reinstatement.
   • It will operate as a non-profit (NGO) to raise funds and manage projects aligned with its mission, such as heritage preservation, property management, and vocational training.
   • David Mullins is appointed as Interim Chair and Chief Executive, with a Board of 5-7 trustees to be nominated and approved by both Parties.
   • Action Needed: Elect a NEW Board and finalize the mission statement, constitution, and articles of association for registration with charity regulators (e.g., World Charities Commission).
   • Current Status: The Assin Foundation (UK) Dissolved on 9 May 2023, The Assin Foundation (GHANA) requires reinstatement according to Companies Act 2019

3. Land Allocation and Heritage Goals

   • A defined amount of land in Assin Praso will be allocated to The Assin Foundation, held in trust or freehold, to support its mission (e.g., heritage preservation, and development projects).
   • Primary goal: Designate and protect the Assin Praso Heritage Site for World Heritage recognition, preserving it from development or destruction.
   • Secondary goal: Build a Heritage Village complex nearby to provide tourism services (e.g., Heritage Centre, events, training), managed by The Assin Foundation.
   • Action Needed: Confirm land handover details and initiate the heritage site recognition process with stakeholders.

4. Events and Community Engagement

   • The Assin Foundation is designated as the sole events management provider for Assin Praso, starting April 1, 2017, for an initial 10-year term (annually reviewed).
   • Key event: Develop a major annual international event (e.g., Festival Week with a conference) in collaboration with community elders and the Emancipation Planning Committee.
   • OSiCi will act as interim manager for events until The Assin Foundation is fully operational.
   • Action Needed: Plan the next annual event and secure funding to ensure its success. Seek meetings with relevant authorities and Ghana Tourism Board GTB) inorder for the Foundation to be recognized as a Tourist Provider.

5. Collaboration with OSiCi

   • The Parties plan to form a Joint Venture Company with OSiCi to pursue commercial projects in the target Districts, such as a community development, waste management and treatment plant, and a Community Waste Energy complex (clean water, sanitation, recycling).
   • OSiCi will lead a regional development study, seeking government funding for infrastructure, utilities, and environmental projects.
   • Action Needed: Define OSiCi’s role post-reinstatement and outline joint venture terms. To invite new MOU and formal partnerships.

6. Funding and Resources

   • Both Parties will provide minor start-up funding and management support to kickstart The Assin Foundation’s activities.
   • The Foundation can use its land holdings as security to raise investment for development and repairs.
   • Action Needed: Agree on initial funding contributions and explore donation opportunities.

7. Non-Binding Nature and Future Steps

   • This MOU is not legally binding but sets the foundation for future collaboration. Specific projects (e.g., financial arrangements, and property rights) will require separate written agreements.
   • Amendments or termination require mutual consent, with a 60-day notice period for ending the MOU.
   • Action Needed: Establish ongoing dialogue to refine goals and adapt to changes. Seek a binding non-irrevocable, non-transferrable agreement regarding lands and building infrastructure to protect built heritage, assets and the Foundation’s mission for future generations.

Why This Matters Now

Next Steps for the Board

• Review and approve the mission, constitution, and Board nominations.
• Support reinstatement efforts with the Office of the Registrar of Companies (Ghana) and UK/Ireland regulators.
• Collaborate with Nana Owodo Aseku X to finalize land allocation and event plans.
• Discuss OSiCi’s interim role and future joint ventures.