The Philanthropic Foundation is registered in Mauritius under registration number 679.

The founding Charter defines the Foundation’s objects and governance powers. The Foundations Act 2012 and any applicable Articles provide the legal framework within which those powers are exercised. Our governance standards support these instruments and do not replace them.

Institutional registration is distinct from authorisation to undertake regulated financial services. Each programme and entity must operate within its own legal mandate. Enquiries about the founding documents, registered particulars or formal institutional records may be directed to the Foundation.

The Council

The Council is the Foundation’s governing body. Its responsibilities include oversight of the Foundation’s affairs and property, the pursuit of its objects and supervision of management, in accordance with the governing instruments and applicable law.

Executive management

The Chief Executive Officer coordinates programme delivery, institutional relationships and day-to-day administration within delegated authority. Matters reserved to the Council remain with the Council.

Defined responsibilities

Council membership, executive office, advisory roles and fund investment committee appointments are distinct mandates. A title or professional association does not, by itself, confer authority to bind the Foundation or another entity. Formal appointment and mandate enquiries are handled through the Foundation.

Decisions must advance the Foundation’s objects, remain within lawful authority and take account of financial, operational and reputational consequences.

Authority and accountability

Commitments require an identified responsible person, an appropriate budget and a valid approval route. Delegations and signing mandates define who may act. Reserved matters and commitments outside delegated authority must be referred to the competent governing body before action is taken.

Conflicts of interest

Personal, professional and financial interests relevant to a decision must be disclosed promptly. The conflict, its handling and any recusal are recorded. A person with a material conflict must not influence the assessment or approval of that matter. Quorum and approval requirements remain subject to the governing instruments and law.

Ethical conduct

Bribery, concealed commissions, facilitation payments, misuse of information and improper personal benefit are prohibited. Related-party arrangements require a clear rationale, fair terms and an authorised, unconflicted decision. Gifts and hospitality must not compromise judgement.

Our financial standards require resources to be used for their intended purpose, supported by clear authority and an auditable record.

Use of resources

Budgets, commitments and expenditure must be documented. Programme costs and restricted contributions are tracked against their agreed purpose. Foundation resources and third-party funds must be distinguished, with appropriate accounting and banking arrangements.

Checks and balances

No person may approve their own reimbursement. Payments require an independently authorised check and must follow the applicable signing mandate. Changes to bank details are verified through a trusted channel. Procurement decisions must be proportionate, fair and supported by a record of the selection rationale.

Reporting and assurance

Management must escalate material budget variations, liquidity concerns, unexplained differences and suspected misuse. Financial reporting and external assurance follow the requirements and engagements applicable to the Foundation. Public statements must accurately distinguish audited, reviewed and unaudited information.

The Foundation does not accept the use of its name, relationships, programmes or resources for money laundering, terrorist financing, sanctions evasion or other unlawful activity. These standards apply to our engagement with contributors, sponsors, programme partners, suppliers and other counterparties.

A proportionate, risk-based approach

Due diligence must reflect the nature of the relationship, its geography, funding route, delivery arrangements and potential exposure to financial crime. Legitimate philanthropic activity must not be treated as inherently high risk. Higher-risk circumstances require more scrutiny and an appropriate approval route.

Know the counterparty and the purpose

Obtain and verify relevant identity, registration and authority information. Understand who owns or controls an entity, where relevant, why the relationship exists and how funds will be used. Seek source-of-funds information proportionate to risk and source-of-wealth evidence where enhanced scrutiny is warranted. Unexplained third-party payments, opaque structures or pressure to bypass checks must be escalated.

Enhanced scrutiny

Politically exposed persons, complex ownership, higher-risk jurisdictions, unusual payment patterns and material adverse information require a documented risk assessment. PEP status alone is not a finding of wrongdoing. Where the relationship requires enhanced controls, obtain appropriate authority, additional evidence and closer monitoring before proceeding.

Sanctions and prohibited dealings

Screen relevant parties against applicable sanctions and assess potential matches before commitments or payments. Confirmed restrictions must be handled in accordance with the applicable freezing, non-dealing, reporting and other legal requirements. A potential match is not automatically a confirmed designation; uncertainty must be referred promptly for competent assessment.

Monitor use and destination

Check that payments, delivery and programme expenditure remain consistent with the agreed purpose. Keep records of counterparties, approvals and material changes. Do not proceed where necessary information is missing, an unresolved prohibition applies or the proposed use is unlawful. Do not return or redirect suspected funds automatically where that could breach a freezing duty or prejudice lawful reporting.

Escalation and reporting

Suspected financial crime must be escalated promptly to an authorised, unconflicted responsible person. Preserve records and assess any reporting duty, including reporting to the Financial Intelligence Unit where applicable. Observe legal restrictions on disclosure and tipping off. A commercial decision to decline or end a relationship does not replace a statutory reporting obligation.

The relevant Mauritian framework includes the Financial Intelligence and Anti-Money Laundering Act 2002, applicable regulations and the United Nations sanctions legislation. The precise statutory obligations depend on the entity, activity and circumstances. This public statement does not claim that the Foundation is a regulated financial institution or that a particular compliance officer has been appointed.

The Foundation

The Foundation’s role centres on purpose, institutional engagement and programme coordination. Partnerships require a defined scope, responsible parties, appropriate contracting arrangements and a clear reporting route.

TAP Fund I

Fund investment decisions and regulated functions belong to the relevant fund entities and authorised decision-makers under their definitive documents. The Foundation’s governance role does not itself authorise management of investor assets. Shared personnel or professional providers require separate mandates and appropriate conflict controls.

The African Circuit

The African Circuit creates a platform for dialogue among investors, policymakers and project sponsors. Participation, sponsorship and institutional association do not constitute an investment commitment, an endorsement of a transaction or a guarantee of financing.

Responsible collaboration

Agreements should identify deliverables, resource use, reporting, confidentiality and escalation arrangements. Technical-assistance or grant-administration responsibilities require an explicit mandate. Representations about partners and service providers must reflect the correct entity and actual scope of appointment.

Transparent communication

Public information must be accurate and distinguish ambitions, targets, commitments and achieved results. Financial and impact claims require an identifiable basis. Reporting should explain the scope, period, methodology and verification status appropriate to the information presented.

Privacy and confidentiality

Personal information must be handled for defined lawful purposes, with proportionate access, security and retention controls. Confidential information must not be used for personal advantage. Information requests are considered under applicable law, including lawful beneficiary and data-subject rights, and legitimate confidentiality obligations.

Concerns and fair process

Anyone may raise a governance concern or request the appropriate recipient through our contact page. Where management or another decision-maker is implicated, handling must be referred to an unconflicted person with appropriate authority. Those implicated must not determine the outcome.

Concerns must be recorded, assessed fairly and handled with restricted access. Good-faith reporting must not lead to retaliation. Confidentiality is protected as far as law and fair process permit; it is not absolute. Nothing restricts lawful reporting to competent authorities or access to independent advice. Sensitive evidence should be shared only through an agreed suitable channel.

Our framework is grounded in Mauritius law and informed by proportionate governance and financial-integrity practice. Internal safeguards may go beyond minimum statutory requirements; the public summaries above do not amend the founding Charter or confer additional powers.

• Foundations Act — governing instruments, Council responsibilities, interests and records.
• Mauritius AML/CFT framework — financial-crime risk and relevant entity obligations.
• Targeted financial sanctions — applicable prohibitions and implementation guidance.
• Data Protection Act — responsible handling of personal information.

Institutional-document and governance enquiries may be directed to the Foundation through the contact page.