Tuesday, December 28, 2010

Phase 2 - Day 11

"Adam get up man we have a lot to do."
"Yup, I'm already up. Let's finish this.

And that's how the final day started. The sun wasn't up yet, but we were. And it's no surprise that we were. The death of the young man on Christmas was hard to take in and we only had one more day left to finish all of our work, but Darryl and I knew that there was a lot that we needed to accomplish by the time the sun set today. The people were counting on us.

As Darryl mentioned in his post yesterday, the group of farmers assembled together on Christmas and created a group name (Kano Egye Man - Group Strength) and put together an impressive constitution. However, in order to make the Phase 2 deal final, we needed to create a contract on the behalf of ADI, explain it to the farmers, make the final adjustments to the loan, and sign the contract. So we immediately started on the document. We debated and discussed what details it would need. Do the farmers own the pumps and materials after they pay back the loan? Yes. Interest? 10% annually. What if they default? ADI and Kano Egye Man will share the risk. Before we knew it, we had the complete document before our eyes. "Adam, why don't you look more relieved?" he asked me, "You know, this is a big deal." The truth is, I was just nervous. We still had more to do. What if the group disagreed with the contract and we didn't have time to construct another? The deal would be completely off and Phase 2 would have been for nothing...

We assembled the group and told them we had written a complete loan contract in response to the Kano Egye Man constitution. We had Foster translate it, and sat anxiously as we waited for their response. The group nodded their heads in agreement as Foster slowly read the clauses (especially when he brought up the potential group profits!).

(Kano Egye Man and ADI)

He finished and asked if they had any questions. They discussed amongst themselves and finally, the Secretary of the KEM board gave their reply. "The contract is good. However, we will need a plow too. The land in the dry-seas0n is hard. Also, the price of fuel for the pumps was not included. We need that too." Ahh, how did we forget to add the fuel?! Darryl and I told the group that we would be willing to add the costs to the loan, however that would mean less total profits for them as a result. The group agreed.

With no time to spare, we ran back to the house and got on the laptop. I quickly opened the excel spreadsheet and added the fuel and plow prices to the model.
The profits still looked good. We were almost there. As the sun started to set, we reassembled the KEM board and presented them with the final contract (with adjusted costs). The Chairman, the Secretary, and the Treasurer were all there to sign. They looked over the final figures and then signed their names to the paper. Darryl and I did the same. It was done! We shook hands as both sides discussed how optimistic they were about the next dry season. The conclusion of Phase 2 felt so good. Darryl was right - this really was a big deal.


(The handshake with the Chairman - haha yes I'm tall)

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