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2021-10-31-accounts

Anza Entrepreneurs Ltd

Report for the Year End 31st October 2021

Companies House: 06958439 Charity Commission: 1137679

Report for the Year End 31st October 2021

Contents

Trustee Report

Legal and Administrative Information

Statement of Trustee's Responsibilities

Independent Examiner’s Report

Financial Statements:

Statement of Financial Activities

Balance Sheet

Note to the Financial Statements

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Trustees' Directors' Report for the year ended 31st October 2021

Introduction

The charitable company was incorporated on 10th July 2009 and registered with the Charity Commission on 31st August 2010. This report covers the 12-month period from 1st Nov 2020 to 31st October 2021.

Objectives

The main objective of Anza is to work towards the alleviation of poverty and improve the quality of life for the people of Tanzania by fostering a thriving entrepreneurial ecosystem which improves the accessibility to life-improving goods and services, and decent work opportunities. We aim to achieve our objectives through the following methods:

Ensuring our work delivers our objective

We review our aims, objectives, and activities each year. The review looks specifically at Anza programmes and their outcomes to ensure that each activity has brought benefit to the group of people Anza are set up to support. Anza Entrepreneurs UK works closely with Anza Entrepreneurs Tanzania to implement these programmes. Anza Entrepreneurs Tanzania is an independently registered not for profit organisation in Tanzania, and will be referred to throughout this report. Due to our participatory approach, programmes Anza run must support entrepreneurs to solve national challenges, in Tanzania. Anza Entrepreneurs Tanzania is aspiring to be the leading entrepreneur support organisation in Tanzania. Anza Entrepreneurs Tanzania are building the entrepreneurship ecosystem through three core areas, with support from Anza Entrepreneurs UK.

1. Capacity:

2. Capital:

3. Community:

Tanzanian entrepreneurs have innovative business ideas for changing their communities, but we see them fail. These failures aren’t due to flaws in the business model, but because Tanzania is a difficult place to grow a business. The World Bank ranked Tanzania #141 of 190 countries globally in terms of ease to do business (World Bank 2019) Tanzania lacks some of the key ingredients for successful business development: affordable capital, a highly educated workforce, and business support services. The result is low business growth, high unemployment, and lack of product availability (like water filters, feminine products, energy solutions) that have the power to change lives. Each year 900,000 Tanzanians enter a labour market which is generating only 50,000 new jobs (WB 2018). People simply must create jobs for themselves. For those entrepreneurs who do seek to create their own job, they face major barriers when seeking affordable financing to develop their businesses. Training and long-term support is rare, and entrepreneurs lack access to the skills and networks they need to grow their businesses. Anza exists to provide the support social entrepreneurs need for their enterprises to be a success.

Profile of Tanzania

The United Republic of Tanzania is in East Africa with an estimated population of 60 million (Worldmeter, 2020) and is classed as a lower middle-income country with Tanzania’s gross national income (GNI) per capita of $1,080 (World Bank 2020). Tanzania ranks 163rd out of 189 countries on the Human Development Index (UNDP, 2020), and currently 49.1% of the population live below the poverty line ($1.90 pppd) (UNDP 2020).

Agriculture is vital to the economy. Agriculture represents almost 30% of Tanzania’s GDP and employs about three quarters of Tanzania’s workforce (International Trade Administration, 2021). Agriculture is undoubtedly the largest and most important sector of the Tanzanian economy, with the country benefitting from a diverse production base that includes livestock, staple food crops and a variety of cash crops. Despite this, Tanzania is seeing increased urbanisation, with 35.23% of people living in urban centres, with a growth rate of 5.36% per year. (Statista, 2020). Tanzania has an increasing youth population with the median age being 18.0 and youth aged 19-24 accounting for 19.6 percent of the population (CIA World Fact Book 2015).

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Growing poverty is caused by unemployment and underemployment. On the face of it, Tanzania has a relatively low unemployment rate of 5.8%, but deeper research shows that many people are under-employed. 74% of employed people are categorised to have 'Vulnerable Employment' (UNDP 2014). This can include unpaid family members, and self-employed people. Such employment is characterised as having inadequate earnings, inappropriate working conditions, little representation and poor social security.

In 2001 the national Primary Education Development Plans (PEDP) were developed in correspondence with the World Bank to abolish school fees at the primary level. Despite this effort there are still several obstacles standing in the way of students’ advancement through education. Primary school has a dropout rate of 33%, and only 7.5% of the population has some secondary schooling. The situation is worse for females, with only 5.6% of females having some secondary education, compared to 9.5% for males. The education system doesn’t adequately prepare youth for the job market, and a high percentage of youth remain unemployed despite completing their education.

The Kilimanjaro Region is an administrative area surrounding Mount Kilimanjaro. The region has a population of 2,097,166, with a population density of approximately 159 persons/km², and an average household size of 5.6 people (UNDP, 2010). Kilimanjaro Region has seven districts, including Moshi Rural and Moshi Urban.

The Arusha Region is an administrative Region that borders the Kilimanjaro Region. It has a population of 1,694,000 with a population density of 45 persons/km². The average household size is 4.4 people. (Census, 2012). Arusha Region has 8 districts.

The Mtwara Region is in Southeastern Tanzania and shares a border with Mozambique. It has a population of 1.2 million. Mtwara district has 6 districts.

The Lindi Region is in Southeastern Tanzania. It has a population of 864,000. It has a low population density, with only 13 people per square kilometre. Lindi Region has 5 districts.

Programme Summary

All programmatic activities and operations are conducted by Anza Entrepreneurs Tanzania, a registered charity in Tanzania.

i. Anza Accelerator

ii. Anza Hubs

iii. Other Activities

iv. Anza Growth Fund

All the following programmes are established, monitored and run by the Tanzanian charity, with financial and technical support from Anza UK. In FY 2021 Anza Entrepreneurs UK successfully secured unrestricted funding from the Segal Family Foundation to support the Anza Accelerator program (Business Foundations Accelerator and Investment Readiness Accelerator) and operating costs for the implementation of programming in Tanzania.

i. Anza Accelerators

Anza Entrepreneurs Tanzania provides business development services to innovative entrepreneurs so they can grow to the next level and solve the national challenge of creating a sustainable, nutritious food system.

Anza’s model provides entrepreneurs with training, consulting, and affordable financing to grow their businesses. We offer two tiers of support depending on the needs of the entrepreneur:

Every entrepreneur also receives:

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Entrepreneur Profiles

Below are a few examples of entrepreneurs and their businesses that are enrolled in the Accelerator.

Fortunata Mteta (Ethan Bakery)

Fortunata provides Arusha region surrounding communities with lowcost nutritious baked goods ethically sourced from small holder farmers especially women.

Shaban Mruma (Farm Agro)

Shaban Mruma founded Sham Agro to provide aggrotech solutions to small and medium sized farmers in order to stimulate growth in Tanzania’s agricultural sector.

Ignatus Lema (Rogathe Dairy)

Entrepreneur Ignatus Lema recognised that owing to supply-chain challenges in the dairy industry, it lead not only to wastage but also decreased access to vital nutrients to many children across the country. Rogathe Dairy provides wholesale fortified dairy products including fresh milk and flavoured and unflavored yoghurt. They sell their products to hospitals, bakeries, hotels, restaurants and schools

John Mugo (Advaensure)

Advaensure designs electronic medical recording software that enables health facilities to manage patients’ medical files and streamlining other health facilities’ functions. They also provide affordable health insurance packages to low-income individuals and families. Through this model, families of 4 can access affordable health insurance at less than 100 USD per annum.

ii. Anza Hubs

No funding was secured by Anza Entrepreneurs UK for Anza Hubs, management kept the board appraised of Anza Hubs operations as it’s a core part of the offering to entrepreneurs that the organisation is serving.

Kili Hub is the largest co-working space in Tanzania, in 2019 Anza transitioned its management to new manager whilst keeping its mission. Anza Arusha Hub launched in 2018 through which Anza entrepreneurs are connected to each other and to a global network of experts & mentors, building a community to drive catalytic change.

The space is a valuable, affordable home for impact enterprises and individuals to communicate, coordinate and collaborate for social change.

By creating an intentional support community amongst organisations, whether through skill or knowledge sharing, Anza has created a platform for change agents to connect, learn, and grow. Coupled with Anza’s direct business development support, the Kili Hub model effectively aids in addressing common challenges resulting in increased organisational impact in a resource-strapped geography.

The impact of Anza’s work through Anza Hub is that residents have access to affordable space, allowing them to direct their resources to their mission, and they are able to break down silos in the community. Above all, Anza has a platform for greater effectiveness, revenue generation, and a direct way of reaching social businesses to help them grow.

Because Anza Hub’s priority is to host focused and meaningful activities such as workshops, training, networking events, working groups and other similar events, the community is encouraged and actively brought together towards a common goal; whether it is capacity building, resource sharing or problem solving.

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Intrinsic within a coworking space is the interaction and activity encouraged amongst its members; individuals and groups alike. It is through collaboration and interaction that new and innovative ideas are born.

Services offered by Anza Hub:

iii. Other Activities

International Professionals Programme

The International Professionals Programme is a core component of the Anza Accelerator, and International Professionals also work to directly capacity build Anza staff. International Professionals are either undergoing post-graduate studies or have 3 years plus of experience in their fields. Expertise we have provided ranges from finance and accounting, marketing and sales, to strategic planning and operations.

To date we have hosted more than 59 mentors from PricewaterhouseCoopers, Linkedin, AT&T, HEC Paris, ESSEC Paris, Bank of America, Morgan Stanley, Musoni, General Electric and Deloitte. In 2021 we hosted 2 International Professionals who

supported entrepreneurs in our Investment Readiness Accelerator Pre-investment due diligence documents.

Institutional Consultancies and Partnerships

Anza Entrepreneurs Tanzania sourced, secured and delivered strategically aligned consultancies and partnerships. Where possible Anza Entrepreneurs UK provided introductions and other support. Anza is committed to building partnerships and engaging with stakeholders in the entrepreneurship ecosystem. Through institutional consultancies, Anza Entrepreneurs Tanzania are able to contribute to the Tanzanian entrepreneurship ecosystem and earn revenue for Anza’s other activities. A few of the consultancies and partnerships Anza Entrepreneurs Tanzania undertook in the last year are as follows:

ENGAGEMENT:Ideation of Climate
Reversing Businesses
FUNDER:ClimateLaunchPad and Irish
Aid
PERIOD:June 2021 - January 2022
Anza is the country lead for
ClimateLaunchpad		 ClimateLaunchpad is the world’s
largest green business ideas
competition. ClimateLaunchpad
operates on a global scale, currently
in over 35 countries. Anza
Entrepreneurs Tanzania has
supported 16 high potential energy
businesses through
ClimateLaunchpad bootcamps. We
identified 3 winners who progressed
to the International Finals. On
account of increased applications to
this program between 2017 and
2020, Anza was granted a contract to
run the programme again in 2021.
ENGAGEMENT:Investment Readiness
Accelerator in Tanzania to Support the
Flow of Capital to Early-Stage Startups
in Key Social Sectors
FUNDER:Human Development
Innovation Fund Tanzania, Exim Bank
Tanzania, The Kingdom of the
Netherlands and 3rd Creek Foundation.
PERIOD:April 2020 - April 2021		 Anza Entrepreneurs Tanzania
partnered with the Village Capital
(Vilcap), Human Development
Innovation Fund Tanzania (HDIF),
Exim Bank Tanzania, The Kingdom of
the Netherlands and 3rd Creek
Foundation to provide business
development support and training to
unlock investments in 24 small high
growth enterprises in 2021, from 12
regions of Tanzania. The businesses
that are taking part in this

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programme are expected on average
to create 3 jobs, experiencing 20%
revenue increase and reaching
12,000 lives per business a year after
graduation.
ENGAGEMENT:Capacity Building for
Aquaculture Entrepreneurs in Mtwara
Region
FUNDER:UNDP
PERIOD:October, 2021 to May, 2022		 The project seeks to capacitate 120
women and youth with the
necessary skills to run successful
aquaculture businesses. In
partnership with one of our alumni
we have conducted a needs
assessment of the region and the
women and youth groups and
developed a bespoke curriculum
which aims to train them in both
business best practices as well as fish
farming best practices.
ENGAGEMENT:Generation Food
FUNDER:Rikolto
PERIOD:July 2020 - December 2021		 Generation Food project seeks to
generate, accelerate de-risk and
facilitate capital 25 nutrition related
enterprises in food systems to
address future food security and
nutrition in Arusha, Tanzania. The
following key activities took place:
-
Arusha Food Systems
challenges scenarios
developed by the project
steering committee.
-
Recruitment of Innovators and
at most 200 innovative food
enterprises.
-
Rapid falsification of at least 75
most viable enterprises.
-
Rapid viability testing and
scale support of 25 most viable
enterprises.

Anza Growth Fund

The Anza Growth Fund provides affordable financing to Anza entrepreneurs. Entrepreneurs can apply for financing from $10,000 USD with an 8-14% interest rate.

No funding was secured by Anza Entrepreneurs UK for Anza Growth Fund, management kept the board apprised of Anza Growth Fund operations as it’s a core part of the offering to entrepreneurs that the organisation is serving.

In Q3 2020, Anza had 4 active loans and that number increased to 12 as of Q3 2021. The portfolio in the same period stood as follows.

SN Company Name Loan Details Expected impact
01 Temnar Co Ltd
Processing sun-
flower seeds into oil
& marketing		 Amount: $14,000
Tenure: 18 months (Jan
2020-June 2021)
Interest rate: 14%
Purpose: Purchase of
machinery and working
capital.		 ● 20% increase of
revenue for the
company annually;
● Creation of at least
3 direct jobs
annually;
● Addressing post-
harvest loss for
sun-flower growers
in Southern
Tanzania
02 Limatuka
Poultry farming
and marketing		 Amount: $5,000
Tenure: 12 months (Jan
2020-Dec 2020)
Interest rate: 14%
Purpose: Working
capital (purchase of
chicks and medicines)		 ● 20% increase of
revenue for the
business annually;
● Creation of at least
3 direct jobs
annually.
03 Kazi Yetu Ltd
Processing,
packaging and
marketing of
specialty & organic
tea		 Amount: $10,000
Tenure: 3 Years (Nov
2020-Nov 2023)
Interest rate: 8.5%
Purpose: Product
development and
marketing expenses
coverage		 ● 20% increase of
revenue for the
company annually;
● Creation of at least
3 direct jobs;
● Women
empowerment
through 100%
involvement in the

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company’s overall
value chain.
04 Central Park Bees
Ltd
Processing,
packaging and
marketing of
organic honey		 Amount: $10,000
Tenure: 3 Years ( Feb
2021-Jan 2024)
Interest rate: 11.5%
Purpose: Purchase of
labelling machine.		 ● 20% increase of
revenue for the
company annually;
● Creation of at least
3 direct jobs;
● Increase in income
amongst
smallholder bee-
keepers in
Tanzania.
04 Avomeru Group
Ltd
Processing,
packaging and
marketing
avocados oil		 Amount: $6,500
Tenure: 1.75 Years (March
2021-Nov 2022)
Interest rate: 12%
Purpose: Purchase of
avocados oil grinding
and filtration machine.		 ● 20% increase of
revenue for the
company annually;
● Creation of at least
3 direct jobs
annually;
● Post-harvest loss of
avocados
reduction among
smallholder
farmers around
Kilimanjaro and
Meru mountains.
05 Arusha Women
Entrepreneur
Processing,
packaging and
marketing of
organic peanut
butter.		 Amount: $5,630
Tenure: 2 Years (March
2021-Feb 2023)
Interest rate: 12%
Purpose: Purchase of
peanut grinding
machine and purchase
of raw materials (raw
peanuts and packages)		 ● 20% revenue
increase for the
business annually;
● Creation of at least
3 direct jobs
annually;
● Reduction of
peanut post-
harvest loss;
● Women
empowerment
(through women
only employment)
06 Bebes Products
Processing,
packaging and
marketing various
spices		 Amount: $5,630
Tenure: 2 Years (March
2021-Feb 2023)
Interest rate: 12%
Purpose: Purchase of
spices grinding machine
and purchase of raw
materials (raw spices &
packages)		 ● 20% revenue
increase of the
business annually;
● Creation of at least
3 direct jobs
annually;
● Reduction of spices
post-harvest loss;
07 Candy Mills
Processing,
packaging and
marketing various
spices		 Amount: $5,630
Tenure: 2 Years (March
2021-Feb 2023)
Interest rate: 12%
Purpose: Purchase of
spices grinding machine
and purchase of raw
materials (raw spices)		 ● 20% revenue
increase for the
business annually;
● Creation of at least
3 direct jobs
annually;
● Reduction of spices
post-harvest loss;
08 Nature’s Way Pig
Farm
Rearing and
marketing of live
pigs		 Amount: $5,630
Tenure: 2 Years (March
2021-Feb 2023)
Interest rate: 12%
Purpose: Purchase of
piglets materials (raw
spices and packages)		 ● 20% revenue
increase for the
business annually;
● Creation of at least
3 direct jobs
annually;
● Reduction of spices
post-harvest loss;
09 Shulesoft
School
management
platform		 Amount: $6,500
Tenure: 1.75 Years (Aug
2021-April 2023)
Interest rate: 11.5%
Purpose: Product
development		 ● 20% revenue
increase for the
company annually;
● Creation of at least
3 direct jobs.

Anza Entrepreneurs Tanzania capitalised Anza Growth Fund through partnerships such as;

Kiva - Kiva are financial partners, providing a credit line of $100,000 USD. Kiva believe in

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providing safe, affordable access to capital to those in need helps people create better lives for themselves and their families. Anza Growth Fund originates and underwrites loans, funded on Kiva. The $100,000 USD line of credit is Kiva’s first credit bracket, and as we build a track record there is potential of increasing.

3rd Creek Foundation - are financial partners, providing a credit line of $20,000 USD to Anza Growth Fund. 3rd Creek’s vision is a world free from poverty and our mission is to help individuals achieve economic independence.

Oneseed - Oneseed are financial partners, providing a credit line of $2,500 USD to Anza Growth Fund. OneSeed partners with local microfinance institutions (MFIs) in the countries where we operate. Oneseed invests 10 percent of their total revenue in partners like Anza, who in turn lend this seed capital to small-scale entrepreneurs as collateral-free, shared liability microcredit. Working directly with microfinance partners in the countries where Oneseed offers travel excursions ensures that local experts drive loan approval and investment. Entrepreneurs repay the loan over the course of the loan term as they launch or expand their business.

Rikolto - Rikolto is striving to ensure sustainable farming and foods accessibility in the world. It has been working with local organisations to provide lasting solutions that will transform how food is produced, harvested, processed, and distributed in a smart and sustainable manner. Rikolto provided Anza Growth Fund with a $28,000 USD revolving facility that has been invested into promising businesses in the Generation Food Program that was concluded September 2021.

Impact in 2021

Anza Entrepreneurs Tanzania collected feedback from a few of the entrepreneurs they served in 2021. When asked “What stands out most about Anza’s program?” the responses from our Generation Food Business Foundations Accelerator were as follows:

Financial Review

Organisational Structure

i. Trustees:

The trustees of the charitable company are the directors for the purposes of company law. Their overriding duty is to ensure that the charitable company’s objects are effectively promoted in accordance with its constitution. They are responsible for the proper administration of the organisation and act collectively to ensure that the highest possible standards of good practice are always maintained.

A director may be elected by an ordinary resolution of the company or be appointed by the existing directors. At each Annual General Meeting any director appointed by the directors, plus one-third of the other directors by rotation must retire and are eligible for re-election.

ii. Recruiting Trustees & Induction:

The charity continues to recruit new trustees where possible, both by an open recruitment process and through identification of targeted individuals with useful skills and knowledge. This fiscal year the Company Secretary (Myles Ewen) left the Board of Trustees leaving a vacancy. Anza Entrepreneurs used Charity Job, Reach Volunteering and LinkedIn advertising to promote the opportunity and garner interest. Following a thorough recruitment process Anza Entrepreneurs welcomed Anita Muganda onto the board, with her strong operational capabilities,

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understanding of running an enterprise in SSA and family connections to Tanzania she addressed a gap in the board’s “Skills Matrix”.

Anza's recruitment and induction process of new trustees includes; multiple interviews with members of the UK Board of Directors, attending at least 1 board meeting with an opportunity to meet the management team in Tanzania and an onboarding meeting with the Board Chair to dive into the org strategy and current board priorities. Prospective trustees complete a skills audit form and both parties get to know each other better during a 3 month trial period. If agreed they are coopted as trustees pending formal election at the next Annual General Meeting. New trustees are encouraged to attend a one-day course ‘Introduction to Board Membership’ with a specialist provider.

Trustees are made aware of their responsibilities under the Companies Act 2006 and the Charities Act 2011, and all are made aware of the nature of the work of the charity. An induction pack is provided including information drawn from the various Charity Commission publications, including ‘The Essential Trustee’ and ‘Hallmarks of an Effective Charity’.

iii. Structure

Anza Entrepreneurs’ Board consists of 5 trustees, in FY 2022 the board will discuss growing the board to include a 6th board position. The trustees work closely with Anza Entrepreneurs Tanzania as this entity implements the programming in Tanzania. As the Tanzanian organisation becomes more mature we believe strong, long term staff are crucial in the growth of a professional organisation. There is a stable team located in Tanzania, further breakdown below, consisting of 9 local Tanzanian full-time staff, 1 international full-time staff, 1 international consultant and 2 voluntary International Professionals (mentors). Anza Entrepreneurs Tanzania currently has 2 vacancies; Anza Growth Fund Director and 1 Business Development Adviser. These will be filled in 2022. Anza Entrepreneurs has no UK operations.

Fundraising

Trusts and Foundations

Anza Entrepreneurs UK have maintained good relationships throughout 2021 with various foundations including Segal Family Foundation and The Waterloo Foundation. Anza Entrepreneurs UK secured another year of funding from the Segal Family Foundation for programming in Tanzania.

Anza Entrepreneurs Tanzania have maintained good relationships throughout 2021 with The Doen Foundation, Footprints, 3[rd] Creek Foundation, Human Development Innovation Fund (HDIF) and The Tanzanian Commission for Science and Technology (COSTECH).

Institutional Consultancies and Partnerships

Consultancies and Partnerships secured by Anza Entrepreneurs Tanzania contribute a sizable portion of revenue required for Anza Entrepreneurs Tanzania to run the Accelerator Programme and cover overhead costs. Anza Entrepreneurs Tanzania pursue consultancies for peer organisations working in Tanzania. These activities must contribute towards the vision Anza sees for the country and complement/add value to the main work in the Accelerator.

Anza Entrepreneurs UK encourages Anza Entrepreneurs Tanzania in seeking sustainable sources of fundraising e.g. renting office space at the Anza Hubs or charging interest through the Anza Growth Fund. These sources of earned revenue mean less reliance on grants and foundations.

Raised Funding: In total Anza Entrepreneurs UK raised £58,704 through the financial year. After expenditures of £62,576 and with our remaining balance we closed the year with £9,209 in cash on hand.

Full-time employees (Anza Tanzania);

Marketing and Communications

While maintaining our online presence through Anza's website, social media platforms and Ad grants account, Anza also focuses on offline marketing, directly approaching high potential businesses and partners.

Reserves Policy

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Due to Tanzanian programmes requiring additional funding, the reserves from last year were utilised on Tanzanian programmes, and the reserves policy suspended.

We aim to reinstate the reserves policy this year to establish 3 months working capital/ operational expenditure. 3 months is deemed appropriate, as this is the amount of time needed to review all existing activities and expenditure that could be curtailed, as well as identify other sources of funding, if any funding issues were to arise. The trustees feel this is an appropriate amount to target in the coming year.

This amount was decided on by following the risk identification approach of analysing existing funds; reviewing future income streams and their reliability; reviewing expected expenditure and the extent to which it can be controlled; assessing the risk of potential commitments and the likelihood of them arising.

Related Party Transactions

Transactions with related parties in the current period are disclosed in the relevant notes to the Financial Statements with prior period comparatives.

Risk Review

Anza recognises that all significant activities undertaken are subject to risk, for that reason during the planning stages of each significant activity a risk review is undertaken to identify the risks involved and implement a mitigation strategy.

Anza has a Risk Management framework which outlines how to assess risk status using probability and impact. We regularly monitor risks – identification and mitigation strategy for each individual risk. All high risks are discussed at quarterly board meetings. When a risk is deemed as “high risk” and dedicated Board attention is required on the risk mitigation these items will be delegated for specific Board Committees to work on, so progress is made in between quarterly board meetings. Any work conducted is brought to the whole board during quarterly meetings.

The three main areas of risk were identified and worked on in FY 2021:

i. Governance Risks:

Mitigation:

ii. International Projects:

Mitigation:

iii. Financial Risks:

Future Plans

  1. Amplify Anza as the go to growth stage Entrepreneur Support Organisation in Tanzania;

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  1. Work with 90 growth stage Entrepreneurs through Business Foundations & Investment Readiness Accelerators in FY 2022;

  2. Reach and improve over a million lives in Tanzania through life improving products and services by our clients;

  3. Maintain 65% Financial Sustainability;

  4. Capitalise Anza Growth Fund to $500,000 ready to disburse through loan and investment facilities.

Legal and Administrative Information

Contact details:

Website : www.anza.co.com

Email: info@anza.co.com Charity number: 1137679 Company number: 6958439

Constitution

The company has no share capital but is limited by the guarantees of its members. The liability of the members is restricted to £10 each. The company is governed by its revised Articles of Association which were adopted on 1 August 2010.

Trustees

Potential new trustees go through a screening process with current board members including interviews. As part of the recruitment process, potential trustees ‘sit in’ on a number of board meetings as observers and give their comments after. At the end of this process all current trustees need to agree on the new appointee.

The trustees during the period (who are also the directors for the purposes of company law) were:

Company secretary

The appointed company secretary is Anita Muganda

Registered Office:

4 Adrian Close Porthcawl South Wales CF36 3LX

Registered Bank:

Natwest Cardiff North Branch 21 High Street CF5 2YT

Independent Examiner:

Frances Wilde Warner Wilde LTD 4 Marigold Drive Surrey GU24 9SF

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Statement of Trustees’ Responsibilities

The law applicable to incorporated charities in England and Wales requires the trustees, who are also directors of the company, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of its financial activities during the year. In preparing those financial statements, the trustees are required to:

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The financial statements have been prepared in accordance with current statutory requirements, the current Statement of Recommended Practice, and the Financial Reporting Standard for Small Entities.

The trustees, who are directors for the purposes of company law, present their report, together with the financial statements of the charitable company for the year ended 31 October 2021.

Approved on behalf of the trustees:

Name: S Patel (Trustee)

14[th] July 2022

Date

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NDEPENDENT EXAM NER'S REPO USTEES OF Anza Entrepreneurs Limited I rèport on the financi￿ statements ol the charityfor the year endgd 31 October 2020, whlch rAimFrfls8 the following Statement of Flt)andal AclNities. Balance Sh&et and supporlirBJ notès. R•sp•¢tlv• mpoMlbllltl•• of trustMs •nd •xamln•r The trusle88 {who aro 8180 the dtractorn of the company for thg PU￿)888 of ￿mpanY19w) ar9 rgspon8ible for the prepara￿On of tho flnandal statsmenls. Tho INSt￿ consKler that an audrt Is not required for th1$ year undor section 144 of the Charftl&s Act 2011 (tho Charibe8 Act) 8rHJ th81 an independ8nt examinatw is n&8dad. 1 gm qualmed to urrtJ8rtake the 8xamlnathJn by belrnJ a qua￿ed Memt￿r of the AssodatSon of Independent Ex8mlner8. It18 my r08pon81bllty to: - examlng th8 flnandal Statements uThJer S•¢tlon 145 of the Charth Ac - follow the proc•dur•8 ￿ld dovm in the Genernl Dlracth)n by the (• CThnmknsknor8 under Section 14515llbl of the char￿88 Pdl.. and - Stale whethor partbjlar maiter8 have come to my8lt•nkn. B••l• of Ind•p•nd•nt •Mmln•V• •tat•m•nt My examlnalon was ¢)ul In 8¢x0￿ance 7Mlh 9enoral Dtr8ciK￿B given by th• Charfty Commission. An examSnaUon In¢lude8 g rovSew of the accouftllng r8¢ords kapt by th8 charity and 8 ¢omparf8on ol the flnandal 8tatomgnt8 presented with thos0 r¢c¢rds. li Also consideration of any unusual tt8m8 or dl$do$uro8 In th8 flnancSal statements, w¢J $8akJn9 axplanation8 from tru$te&s co1￿￿mIng any 8uch malters. The procedures undertakon do not provkle all th8 8viden¢o that ¥4Dukl ￿ required In an audll. and consequenly no opinion Is glven as to whelhef tho fin8n¢i81 stslfjmonts ptesent a In￿ and falr vw and the r8port18 limlled to those mattern sel out In th• statement below. Ind•p•nd•nt èxamln•fs •tst•m•nt In connedon wllh my examln8Uon, ￿ mattor ha8 come to my 9tt8ntbn to indl(te.' a) a¢¢ounl6ng rocords hava not been kept in ac￿￿an¢$ sadion 386 of the Ccmp8nl•s Aca 20C6; bl thè accounts do not acc>)rd wilh such rec(￿￿. ¢1 that thay fail to compty wth the relevant a¢coLmtwig roquirements undor 8¢¢lion 396 of the Companies Act 2008 or ¥rè not conslstent with the Charibès SORP (FRS1021; d> any mattar whkh tho examiner tdieves should ￿ drawn to the attention of thg rg8dor to galn a propèr understanding of the f￿anCIal slatèmonts. FJ Wilde FCCA DChA Wamer Wlldè Llmit•d Chartered Certified Ar￿In￿nIS gnd Regi8tered A￿jItorS 4 Marfwld Drlve Bisley Surr8y GU24 9SF L6ZL

Anza Entrepreneurs Limited

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2021

Note
INCOME
Donations and grants
2
Charitable Activities
Other trading activites
Total Income
Expenditure
Raising Funds
3
Charitable Activites
4
Net income/(expenditure)
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
Total 2021
£
£
£
58,704
0
58,704
0
0
0
0
0
0
58,704
0
58,704
1,684
0
1,684
59,558
0
59,558
61,242
0
61,242
(2,538)
0
(2,538)
13,081
0
13,081
10,543
0
10,543		 Total 2020
£
96,301
0
0
96,301
1,652
96,862
98,514
(2,213)
15,294
13,081

There are no recognised gains and losses other than those passing through the income and expenditure account. All income and expenditure is in respect of the charitable company's continuing activities.

Anza Entrepreneurs Limited

BALANCE SHEET AS AT 31 OCTOBER 2021

Note
Current Assets
Debtors and Prepayments
8
Bank and Cash
Current Liabilities: amounts due within one year
Creditors
9
Net Current Assets
Total Net Assets
Represented by:
Restricted Funds
Unrestricted Funds
Total Funds		 £
£
631
10,812
11,443
(900)
10,543
10,543
0
10,543
10,543
31 October 2021		 £
£
0
14,534
14,534
(1,453)
13,081
13,081
0
13,081
13,081
31 October 2020		 £
£
0
14,534
14,534
(1,453)
13,081
13,081
0
13,081
13,081
31 October 2020
11,443
(900)		 14,534
(1,453)
13,081
0
13,081
13,081

The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit under section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with the Financial Reporting Standard 102 Charity SORP.

Approved by the trustees on 14th July 2022 and signed on their behalf:

S Patel (Trustee)

Company Registration Number: 06958439

Anza Entrepreneurs Limited

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2021

1. Accounting Policies

Basis of Accounting

The financial statements have been prepared in accrodance with the charity's governing document, the Companies act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)(effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS102.�

The charity has taken advantage of the provisions in the SORP for charities applying FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. �

Funds

Restricted funds are funds which must be used in accordance with specific restrictions imposed by the donor or the terms of a specific appeal. Expenditure which meets this criteria is drawn from the fund.

Unrestricted funds are those which can be used for any purpose in furtherance of the charitable objects. Designated funds are a subdivision of unrestricted funds, set aside by the trustees.

Income

Income is included in the accounts once the charity has entitlement, the amount can be measured with sufficient reliability and there is probability of receipt.

Earned income is included in the period in which the service is provided, if any performance conditions have been met, or are fully in control of the charity.

Donations are included when given, together with an estimate of the related gift aid due thereon. Legacies are included when the date of probate is ascertained and the amount receivable can be reliably estimated.

Going Concern: At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the forseeable future. Thus the

Expenditure

Expenditure is included on an accrual basis when incurred, that is when legal constructive obligation arises, and included related irrevocable VAT.

Future liabilities are included at the best estimate of the amount required to settle them.

The value of services provided by volunteers are not incorporated in these financial statements. Where services are provided to the charity as a donation that would normally be purchased from our suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity.

Fixed Assets

Individual assets with a cost of more than £500 and an expected useful life of more than two years are capitalised. Fixed assets are stated at cost less accumulated depreciation.

Depreciation is charged on a straight line basis at rates estimated to write-off the value of the assets over their useful lives:

Office Equipment

36 months straight-line basis

Anza Entrepreneurs Limited

NOTES TO THE ACCOUNTS

FOR THE Year ended 31 October 2021

2. Donations and grants

Grants Receivable:
Segal Family Foundation
The Waterloo Foundation
Donations		 Unrestricted
Restricted
Total 2021
£
£
£
58,228
0
58,228
0
0
0
476
0
476
58,704
0
58,704		 Total 2020
£
65,676
30,000
625
96,301

During the Year ended 31 October 2021, the charity received grants from the Segal Family Foundation to meet projected costs in Tanzania.

3. Raising Funds

Fundraising & awareness
Support Costs allocated (Note 7)		 Unrestricted
Restricted
Total 2021
£
£
£
133
0
133
1,551
0
1,551
1,684
0
1,684		 Total 2020
£
104
1,548
1,652

4. Charitable Activities

Grant Expenditure - Anza Entrepreneurs
Limited Tanzania
Project work in Tanzania
Support Costs allocated (Note 7)		 Unrestricted
Restricted
Total 2021
£
£
£
52,092
0
52,092
6,801
0
6,801
665
0
665
59,558
0
59,558		 Total 2020
£
85,960
10,239
663
96,862

5. Support Costs

Office Costs
Office overheads
Independent examination		 Cost of
Generating
Funds 70%
Charitable
Activities
30%
Total 2021
£
£
£
921
395
1,316
0
0
0
629
270
899
1,550
665
2,215		 Total 2020
£
1,284
127
800
2,211

6. Staff Costs

The company did not have any employees as at 31 October 2021 (31 October 2020: Nil)

7. Trustees' remuneration and expenses

No reimbursement was made for any trustee's expenses during the year ended 31 October 2021 (Year ended 31 October 2020: Nil)

8. Debtors

Prepayments
Accounts Receivable		 31 October 2021
£
631
0
631		 31 October 2020
£
0
0
0

9. Creditors

Accruals and deferred income 31 October 2021
£
(900)
(900)		 31 October 2020
£
(1,453)
(1,453)

10. Related Party Transactions

There were no related party transactions.

11. Volunteer time donated

The charity benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.

12. Legal Form

Anza Entrepreneurs Ltd is a charitable company, registered with both Companies House and the Charity Commission, for England and Wales. The registered office is 4 Adrian Close Porthcawl, South Wales, CF36 3LX.