RIDE SHARE/PRIVATE TRANSPORTATION
Investing in rideshare and private transportation services offers our community the opportunity to become owners in an industry many of us already rely on. As users and drivers, we can build wealth by creating a cooperative platform that not only provides affordable and accessible transportation but also offers profit-sharing for members. By keeping more earnings within the community and reducing platform fees, we can empower drivers and create jobs. Additionally, investing in green transportation options like electric vehicles ensures a sustainable future while generating long-term financial returns for cooperative members and reducing environmental impact..
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HOUSING/ACCOMODATION
Housing is a fundamental need, and investing in cooperative-owned housing is a powerful way to secure financial independence and stability within the community. Instead of spending money on rent that goes to external landlords, cooperative housing allows members to invest in affordable living options while retaining profits within the community. By pooling resources, we can develop housing projects that provide affordable homes for families, create equity for those living in the properties, and generate shared profits for members. Over time, this not only strengthens our financial future but also builds a foundation of security for generations to come..
GROCERIES/FOOD
Groceries are a daily necessity, and investing in a community-owned grocery store is an opportunity to redirect our spending into a cooperative that benefits us all. As many families spend thousands of dollars annually on food, a community-owned grocery store would keep profits within the cooperative while offering affordable, high-quality products to members. With shared profits and reinvestment into local agriculture and food services, this approach strengthens our food security, reduces costs for households, and ensures that the money we spend on essential goods circulates back into the community, fostering collective growth and resilience..
CAR SERVICE/MAINTENANCE
Car maintenance is an ongoing cost, and by investing in a community-owned car service, we can ensure that these expenses benefit our cooperative. Services such as repairs, oil changes, and tire replacements are essential for vehicle owners, and having a trusted, community-based car service means that profits from these services are shared among members rather than going to external businesses. Additionally, a cooperative car service can offer competitive pricing and quality work, helping members maintain their vehicles affordably while also contributing to the cooperative’s financial growth and sustainability.
BANKING/INSURANCE
Investing in community-focused banking through a cooperative or credit union provides our members with access to ethical financial services while keeping capital within the community. Traditional banks often charge high fees and use deposited funds for investments that don’t benefit the local population. By contrast, a cooperative bank focuses on offering affordable loans, savings accounts, and financial products designed to meet the needs of our members. Profits from these banking services are reinvested into the community, providing capital for projects such as housing, transportation, and small business loans, fostering economic growth from within.
MONEY TRANSFER
Money transfers are a vital service for many in the community, particularly those who send money to family members abroad. By investing in a community-owned money transfer service, we can reduce the high fees charged by traditional remittance companies and ensure that more of the money we send reaches our loved ones. A cooperative money transfer service could offer lower fees, faster processing times, and secure transfers, while reinvesting profits into the cooperative. This service would not only support the financial well-being of our families abroad but also generate returns for cooperative members, creating a sustainable and community-centered financial ecosystem..
WHO ARE WE?
Empowering Our Community Through Collective Investment
Building Wealth Together for a Stronger Future
Iwacu Connect is a cooperative platform founded to empower the Burundian community in Canada by fostering collective investment and economic self-sufficiency. Our mission is to create a strong, resilient community where members can pool resources, invest in essential services, and generate long-term wealth. At Iwacu Connect, we believe in the power of community-driven growth—where the money we spend every day on transportation, housing, groceries, and other vital services can be reinvested to benefit us all. Together, we create opportunities, share in profits, and build a brighter, more sustainable future for our community.
Statistics and Opportunities
Investing in Transportation, Housing, Groceries, and Car Services to Build Community Wealth
Rideshare
The global rideshare market is projected to reach $344.4 billion by 2030, with many in our community already driving for platforms like Uber and Lyft. On average, a driver earns $20 per hour, working 30 hours per week and making $600 weekly, or $2,400 monthly. After major platform fees (around 25%), drivers are left with $1,800 per month. By creating a community-owned rideshare service with reduced fees of 10%, each driver could keep an extra $360 per month—that’s $4,320 annually. With 2,000 drivers, this would result in $8.64 million annually in additional earnings retained by the community. This not only increases driver incomes but creates sustainable revenue for the cooperative, benefiting all members.
HOUSING
Housing is a major expense, and the average rent for a two-bedroom apartment in cities like Ottawa is around $1,700 per month. If 2,000 families in our community are renting, they collectively spend $3.4 million per month or $40.8 million annually on rent, most of which leaves the community. By developing a community-owned housing cooperative, we can capture a portion of this spending. If we provide affordable housing for 40% of these families, that would mean $16.32 million annually kept within the cooperative. Over 10 years, this results in $163.2 million retained and reinvested in our community. This allows us to build equity, create wealth for members, and ensure affordable living for future generations.
GROCERIES
Groceries are a significant ongoing expense, with the average household spending approximately $10,000 annually on food. With 2,000 families in our community, this equates to $20 million per year spent on groceries. Much of this money goes to large supermarket chains. By investing in a community-owned grocery store, we could capture 30% of this spending, or $6 million annually, reinvesting it into the cooperative. With an estimated profit margin of 10%, this would generate $600,000 in annual profits to be distributed among cooperative members. Over 5 years, this would result in $3 million in shared returns, providing affordable groceries while keeping wealth circulating within the community.
CAR SERVICE/MAINTENANCE
Car maintenance costs, including routine services like oil changes, tire replacements, and repairs, average $1,200 annually per vehicle owner in Canada. If 2,000 vehicle owners in our community use these services, this totals $2.4 million annually spent on car maintenance. A community-owned car service could capture 50% of this market, or $1.2 million per year in business. With a standard profit margin of 15%, the cooperative could generate $180,000 in annual profits. Over a 5-year period, this would amount to $900,000 in potential earnings for the cooperative, providing affordable, reliable car services while building shared wealth for members.
The Secret of Success
Success in our ventures stems from a blend of community-driven innovation, strong values, and dedication to providing value for our members. At Iwacu Connect Multi-Stakeholders Coop, our strategy revolves around inclusivity, collaboration, and building sustainable systems that benefit everyone involved.
Shared Vision (Community Empowerment)
Our strength lies in a shared vision of economic empowerment for the Burundian diaspora in Canada. By pooling resources and investing in projects that serve our community—whether it’s through transportation with Coride or collective real estate ventures—we ensure that everyone has a stake in our success. Our cooperative model builds a sense of ownership and shared responsibility.
Smart Innovation (Technology and Efficiency)
Innovation is at the core of everything we do. Coride leverages cutting-edge technology platforms to deliver efficient and reliable transportation services while keeping 80% of earnings in drivers’ pockets. In addition, Iwacu Connect uses technology to streamline investment opportunities, making it easier for our members to contribute and grow together.
Collaboration (Shared Benefits)
Collaboration is the foundation of our business philosophy. By working together as investors, drivers, and service users, we are able to generate profit and reinvest it back into the community. Whether it’s drivers earning shares in Coride or members participating in the cooperative’s projects, our collaborative approach ensures that the success of one is the success of all.
Sustainability (Long-Term Growth)
We are committed to sustainability in every sense. From green building practices in real estate projects to the development of long-term passive income opportunities through Iwacu Connect, our focus is on creating ventures that last. We aim to ensure that future generations benefit from our hard work today, making both economic and environmental sustainability key to our vision.
Success Stories of Diaspora Communities
Since the creation of Israel, the Jewish diaspora has been instrumental in supporting the country’s development. One key initiative is Israel Bonds, a program established in 1951 that allows members of the Jewish diaspora to invest in Israel’s infrastructure and development projects. Over the decades, this program has raised billions of dollars, funding projects in housing, transportation, education, and technology. The success of Israel Bonds demonstrates how a diaspora can mobilize its financial power to build a nation and support its economic growth through strategic, long-term investments.,
The Jewish Diaspora and Israel Bonds
African-American communities in the U.S. have long recognized the importance of controlling financial resources. Historically, they founded Black-owned banks, such as OneUnited Bank (the largest Black-owned bank in the U.S.), to serve the financial needs of African-Americans when traditional banks denied them access. These banks provide affordable financial products, such as loans, mortgages, and savings accounts, and have helped countless African-American businesses and families build wealth. By pooling community resources, these institutions have empowered their members and increased economic independence.
African-American Owned Banks (United States)
The Somali diaspora is one of the largest globally, with millions of Somalis living in North America, Europe, and the Middle East. Over the years, this diaspora has sent billions of dollars in remittances to Somalia, supporting families and helping to stabilize the country’s fragile economy. In addition, Somali diaspora members have come together to invest in real estate, telecommunications, and other key industries in Somalia, helping to rebuild and develop the country after decades of conflict. These collective efforts have not only provided financial support but also job opportunities, enhancing Somalia’s economic resilience.
John Doe
The Somali Diaspora and Remittances for Development
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