There has been some big news coming out of Mexico for 2017. Offshore oil well drilling is the hot topic and if everything goes as planned, Mexico’s ailing oil market will definitely come back to life. Since 1938, Mexico’s oil market has been closed to foreign entities and this will actually be the first time in 80 years since an oil well has been sunken in these waters. The Zama-1 well is being drilled by a joint-venture deal that’s comprised of three energy giants. This includes Mexico’s Sierra Oil & Gas,Houston’s Talos Energy and London-based Premier oil.
How important is the project? With the impending success of the drilling in the Sureste Basin, Mexico can expect a huge return on investment in the future. The drilling just so happens to be off the coast of the Tabasco State in Mexico. This specific area is expected to hold between 100 million to 500 million barrels of crude oil. With such huge amounts, the nation of Mexico could totally revamp its image on a global scale. Back in 2015, these three energy giants won the prospective rights during the bidding stage. Actual costs of the drilling project is at an estimated $16 million. Like the old saying goes, “you’ll have to spend money to make money” and this notion rings true on all levels.
The Zama-1 well is also known as a non-Pemex well, and it will go down as one of the very first to be drilled since Mexico opened up its waters for foreign trade. All of this progression falls under the country’s energy reform process. Analyst Elaine Reynolds of London-based Edison Research stated that “the project will be keenly watched.” Every measure is being taken here for the success of the project. Thanks to the structure of the basin itself, there’s a high geological chance of success.
To Learn More : https://www.crunchbase.com/organization/talos-energy
Ubuntu Education Fund is an organization that strives to change people’s lives through providing them with a quality education. This group was established by Jacob Lief to support orphans in Port Elizabeth, South Africa. Ubuntu Education Fund specializes in the provision of services, such as international development, healthcare, and education.
Strategies adopted by the Ubuntu Education Fund
For years, this organization had been receiving money from donors. However, it was not meeting its objectives as expected. In the World Economic Forum meeting, Lief and his colleagues decided to adopt new strategies to ensure that the organization’s project met its intended purposes. One of the strategies they adopted involved rejecting funds from donors who gave their money with lots of restrictions. By so doing, their budget decreased, and since then they were able to achieve more with the little they had. Another strategy that was adopted was the Ubuntu model where vulnerable children are taken up by communities and families who would then educate these kids. The Ubuntu Model works alongside wealthy individuals who wish to give back to the community. According to Lief, there are some donors who like to oversee the way their money is allocated to various programs. This kind of donors makes implementation of the projects counterproductive. Andrew Rolfe is one of the executives who have been instrumental in making sure that the Ubuntu Model works efficiently.
Rolfe’s involvement in Ubuntu Education Fund
Rolfe is a businessman with interests in corporate financing, private equity, and business strategy. He is a graduate of Eton College, University of Oxford, and Harvard Business School. Rolfe served in various companies, including PepsiCo, Pret A Manger, and Gap Inc. He is the current executive director of Tower Brook Capital Partners. Rolfe holds the chair post of Ubuntu Education Fund, and he has been working with this organization since 2007. He works in collaboration with Jacob Lief to ensure that vulnerable children living in the Eastern Cape of South Africa get a quality education. As a financial officer, Rolfe is in charge of the administration of finances in the organization. He also plays a huge role in helping the organization get high-net-worth individuals who are willing to spend their money on philanthropic activities.
Jacob Lief assists helpless kids in Cape Province in South Africa through the Ubuntu Education Fund, a charity he founded and works as the chief executive. He works with Andrew Rolfe as the Chairman of the organization. He realized that, even after raising a lot of money, the lives of the beneficiaries remained the same. This vanity necessitated a change in strategy.
He has declined grants with restrictions leading to a reduction in the organization’s budget. The organization now uses Andrew Rolfe’s “Ubuntu Model” to work with families and communities thereby achieving more. Most donors are not ready to give their donations without strings attached. Some donors dictate how their money should be spent.
Some donors boycott charities due to mismanagement as the late Peter Lewis once did. Participation of experienced donors in the management of a program may bring many benefits. According to Tarnside Consulting director, Patrick Boggon, the participation of donors makes them feel more involved in the organization and enhance their contribution.
Doug Wingo of Wingo NYC notes that priority differences between the donors and the charities may cause some tension. The use of funds by charities is dictated by the restrictions created by the donors. These restrictions hinder the flexibility that charities need for innovation.
Eric Kessler of Arabella Advisors says that if discussions between the two parties are held on time, conflict can be avoided. He notes that donors are not always the decision makers in charities. Additionally, many organizations are declining donations that don’t match their objectives.
Jacob Lief appointed Andrew Rolfe to the post of the Chairman of Ubuntu’s Board of Governors. In that capacity, he has been putting extra effort to enhance the living standards, health, and education needs of people in Cape Town, South Africa. He has helped Ubuntu to have a positive impact on its beneficiaries.
Andrew Rolfe is known around the world for his desire to help other people throughout his life and career. Many people admire his work, and he has been working harder to encourage them to follow his footsteps. At Ubuntu, they have been carrying out long-term projects that have the strongest impact on improving the living standards of Ubuntu Fund beneficiaries.