2. A SHORT NAME WITH A STRONG MEANING
“Add” to express the added value that we
aim for to alleviate poverty and overcome
social issues ; “hope” to illustrate our pledge
to provide renewed hope to the most
underprivileged by opening up new horizons.
Our sole conviction is that every human
being has the strength and capacity to
succeed in life when access to education,
quality healthcare, and proper sanitary and
environmental conditions are guaranteed.
This is the goal we set ourselves through all
the partnerships we create.
3. CONTENTS
3 Chairman’s message
5 The Board of Directors and the Team
6 The Foundation
Education
10 Morocco - Developing early childhood education
Agricultural leverage
14 Zambia - Enhancing food security
18 Ivory Coast, Cameroon and DRC - Training young rural entrepreneurs
22 Guinea and Republic of the Congo - Transferring skills to improve nutrition
Community entrepreneurship
28 China, Uganda and Rwanda - Supporting economic viability
Secure livelihoods
36 Ghana - Improving an orphanage’s self-sufficiency
40 Togo - Securing water and electricity supply
Employee volunteering & Awards
46 Time allocation – FXB website
46 Fundraising – B2Run sport challenge
46 Clothing donation – Caritas Geneva
48 SIPC overseas CSR contest
Financial statements
52 Report of the statutory auditor
53 Financial statements
54 Notes to the financial statements
4. Together, we are singularly focused on
empowering people and communities around
the world : providing improved access to
education, knowledge and skills, as well as
supporting the development of better healthcare,
sanitation and facilities.
We also help create favourable environments for
successful economic development
5. CHAIRMAN’S MESSAGE
Dear reader,
Letmetaketheopportunityfirstandforemosttoreaffirm
theFoundation’ssteadfastcommitmenttobuildingcapac-
ityand creating long-term self-sufficiency by investing in
people to sustainably tackle the causes of poverty, and
alleviate its impact.
This past year has been challenging for the international
oilandgassector.Yet,2015hasprovedparticularlyfruitful
in terms of work carried out by our Foundation and the
measurable impact it has had on the communities we
support. As such, I hope you find this report informative
and enlightening in terms of the scope of the challenges
addressed through our projects and the outcome of
these efforts. These projects are delivered through col-
laboration with our dedicated and long-standing partner
NGOs ; our continued commitment to nurturing these
constructive and strong relationships remains resolute.
Together,wearesingularlyfocusedonempoweringpeople
and communities around the world : providing improved
access to education, knowledge and skills, as well as
supportingthedevelopmentofbetterhealthcare,sanitation
andfacilities.Wealsohelpcreatefavourableenvironments
for successful economic development.
Throughout this report you will read testimonials from
someofourkeypartnersexplaininghowtheFoundation’s
work has made a real difference to people’s lives.
Increatingtangible,measurableandsustainablechange,
and to complement the additional support we provide
beyond funding through employee volunteer field visits
andskillsharing,wehaveintroducedaninternalevaluation
methodology that monitors and accurately assesses the
societal impact of projects.
Thisisaparticularlyexcitingdevelopmentasthismethodo
logy will help us determine and quantify exactly how
short-term positive results translate into lasting and
empoweringimprovements :ensuringwefocusourefforts
appropriately to generate the greatest value for those we
support.
Finally, and on behalf of the Foundation Board, I would
like to extend our gratitude to our volunteers for their
devoted commitment ; for their consistent, unwavering
support. Whether dedicating time or raising funds, their
energyfuelsoureffortstomakeadifferenceandtransform
vulnerable communities.
Itistruetoothatthisengagementtoempoweringpeople’s
lives runs deep through our founder, Addax Petroleum,
and its shareholder, the Sinopec Group. So I thank them
also, together with our NGO partners, for their time and
invaluable contribution.
And thank you too dear reader for taking the time to fol-
low our work. I hope this report is helpful in outlining our
philanthropicphilosophy,aswellasourglobalendeavours.
Yi Zhang, Chairman
3
6.
7. THE BOARD OF DIRECTORS
Committed to purposeful corporate philanthropy
THE TEAM
Dedicated to making a difference
AnewteamisinplacetoensurethattheFoundation’swork
remains true to its core values.
As always, we aim to achieve positive socio-economic
changes hand-in-hand with our long-lasting partners to
yield sustainable results.
YI ZHANG
Chairman
CÉLINE BLANCHOUD
Executive Director
GUUS KLUSENER
Board Member
MERIEM SABER
Deputy Executive Director
JOHN BAILLIE
Board Member
8. THE FOUNDATION
TheSinopec-AddaxPetroleumFoundationisanon-profit
independent entity registered in Geneva, Switzerland.
Founded by Addax Petroleum Corporation (APC), its
main backer, it also benefits from the support of the
Sinopec Group, shareholder of APC. The Foundation’s
goal is to address the root causes of poverty, and to help
deprived communities by strengthening their skills and
by providing them with the appropriate conditions to
reach self-sufficiency in a sustainable way. To this end,
the Foundation supports projects in Africa, the Middle
East and China, focusing on :
Tomeetthisobjective,theFoundationprovidesfinancial
andtechnicalsupporttonon-governmentalorganisations
(NGOs)todevelopandcarryoutsustainabledevelopment
projects.
educationhealth environment
OUR PHILOSOPHY
Creating conditions for long-term self-sufficiency
The Foundation endeavours to strengthen the skills of
vulnerablecommunitiesandindividualsbyimprovingtheir
livingconditionsonaneducational,medical,sanitaryand
environmentallevelinsuchawayastoenabletheirsocial
and economic rehabilitation.
Weareconvincedthathelpingmen,womenandchildrento
acquirethemeanstodevelopalifeplanandtotakecontrol
over their own destiny can contribute to reducing poverty
in an effective and sustainable way.
TheFoundationfundscross-disciplinaryandparticipative
programmes, contributing to autonomy and social inte-
gration. They all aim to develop and enhance potential in
order to create opportunities by overcoming the barriers
of illiteracy, disease, isolation, as well as water and food
shortages, which impede the most underprivileged.
OUR COMMITMENT
Addressing the root causes of poverty
TheFoundationiscommittedtoalleviatingpovertycaused
by unequal access to the most basic necessities. A large
number of people are deprived of what is essential for
everyonetoliveandprosper,andthatwhichisindispensable
foreverycommunitytodevelopharmoniously.Individuals
and organisations worldwide join forces to provide their
support.TheFoundationcontributestotheseefforts.Our
work is inspired by the Millennium Development Goals
and global challenges such as food shortages, lack of
cleandrinkingwater,andtheeffectofdiseases(including
malaria and HIV/AIDS). All of these result from a lack of
access to information and decent sanitary and social
conditions, as well as to adequate medical care.
66
9. OUR DYNAMISM
Involving and encouraging the voluntary participation
of employees
Tostrengthensolidaritybetweenindividualsfromallwalks
oflifebeyondgeographicalandsocio-economicboundaries,
the Foundation encourages the Company’s employees to
get involved in the projects that it funds.
Employeecommitmentandparticipationcreatesexceptional
dynamismandenergy :fuellingtheprojects,andenriching
relations with NGO partners.
Employee volunteering brings an unparalleled breadth
of skills, which is of great benefit to the projects, and
gives these employees the opportunity to realise their
philanthropic aspirations. By actively participating in
identifying and selecting projects, monitoring them and
sometimescollectingfunds,employeesprovideconcrete
skills, whilst bringing a strong human element to the
Foundation.
ThiscommitmentmainlyinvolvesformingAdvisoryCom-
mittees in charge of assessing the projects and funding
requests submitted to the Foundation. Responsible for
examining the objectives, resources, methodology and
viability of the projects, the Advisory Committee provides
recommendationstotheFoundation’sManagementteam
andBoardofDirectorsinformingthemoftheirfinaldecision.
Furthermore, employees can contribute individually or
in a team by :
• sponsoring projects ;
• participating in setting up partnerships providing spe-
cialised advice or technical support for project design
and implementation.
PROJECT SELECTION
Guaranteeing a sustainable and measurable impact
TheFoundationfundsprojectsthatmeetacertainnumberofcriteria
including - regular monitoring, rigorous assessment, and trans-
parent narrative and financial reporting. The Management team,
the Advisory Committee and the Board of Directors carry out a
step-by-step selection and approval process.
1. Management team selection
A funding request form is available on the Foundation’s website.
If the project is in line with the Foundation’s mission, operational
areas and criteria, it will be preselected. Following a series of
meetings,comprehensiveapplicationsarethenproducedforthose
projectsadvancingtothesecondround :examinationofthefunding
request by the Advisory Committee.
2. Advisory Committee recommendations
The Advisory Committee serves as a think tank for the Foundation.
It meets, examines all the applications case by case, and assesses
the viability of each project. It passes on its detailed comments and
recommendations to the Board of Directors.
3. Board of Directors approval
TheBoard’sdecisionrestsfirstandforemostonwhethertheproject’s
objectives are in line with the Foundation’s mission. It also results
from in-depth consideration of the NGO’s ability to implement an
action plan that will create tangible, measurable and sustainable
change in the lives of the most underprivileged. The Board insists
on the sound technical and financial management of projects, and
theNGOs’abilitytoprovidetransparentreportingtotheFoundation.
Lastly, the involvement and respect for the dignity of local commu-
nities is a crucial factor in the approval of any project.
4. Setting up the partnership
Each Board-approved project is subject to a partnership contract
that precisely defines the duties of the partner NGO towards the
Foundation, and vice versa. This includes the efficient and trans-
parent use of funds in line with the stated project objectives ; the
project management until its completion ; and the submission of
intermediate reports, and operational and financial statements by
thepartnerNGOuponprojectcompletion.Foritspart,theFoundation
commits to supporting the partner organisation both financially
and technically, according to a jointly-established schedule.
77
10. 8
Multiplying efforts to teach children in
deprived areas how to read, write and
count, contributes to overcome illiteracy,
reduce poverty, boost economic growth
and foster peace. Education has the
power to change the world and make it a
better place
13. 11
MOROCCO
DEVELOPING EARLY CHILDHOOD
EDUCATION
In Morocco, a range of initiatives have been implemented to
improve standardsandboostschoolinglevelsinrecentyears.
While private and public measures have been put in place to
reorganise the sector, and better prepare students to meet
thedemandsofthelabourmarket,challengesremaintoensure
children have adequate access to education in rural areas.
Considerable advances have been made and, in particular,
infrastructuralimprovementshavecontributedtoanincrease
in primary school enrolment, according to the World Bank
figures(reaching98 %in2013,upfrom85 %in2003) ;however,
the quality of education and gender disparity continue to be
an issue.
The Foundation started supporting the Groupement des Édu-
cateurs sans Frontières (GREF) in the development of an early
childhood educational network in the commune of Telouet
in 2009. The programme comprises the training of young,
pre-school educators and experienced teachers in modern
teaching methods, as well as the management of documen-
tation centres, and library administration. It aims to improve
pre-school and extra-curricular education in rural areas, but
also to enhance access to employment for women.
Thanks to this initial support, the programme has evolved and been extended to
other countries. It now falls within the broader framework of the Multi-Pays (multi-
country) project also deployed in Mali, Niger and Senegal, and its mission joins the
countries’ efforts to develop a basic education system : ensuring that all students
have access to the knowledge and skills to enable them to face a rapidly changing
world. A key aspect of the project is also to ensure its sustainability by actively
involving local stakeholders.
After working with each country’s education representatives and civil society and
training more than 1,000 people over three years, GREF organised a conference on
“Alternatives éducatives développement” in Paris from 11-13 May 2015 to answer
the fundamental question of what the programme’s real impact has been on the
developmentoftheeducationsystemsandthepopulationsinvolved.Theconference
wasanopportunityforallstakeholderstosharetheirexperience
oftheMulti-Paysprogramme,aswellasdiscussbestpractice
and celebrate success stories. The Foundation participated
and a short video made by Andrew Young, an employee volun-
teer who visited the site in Morocco in 2014, was projected.
PARTNER
Groupement des Éducateurs sans Frontières (GREF)
www.gref.asso.fr
14. Leveraging agricultural products not
only as sources of food, but as sources of
health, income and employment
can create sustainable livelihoods
for local communities, especially those
living in rural areas
17. 15
ZAMBIA
ENHANCING FOOD SECURITY
TheKalwaRegionintheMkushiDistrictismainlyinhabitedby
subsistence farmers whose agricultural practices are gener-
allyinsufficienttomeetbothmarketdemandandtheneedsof
the surrounding communities. For many generations, small-
holder farmers have only grown maize, a rain dependent crop
withalowmarketpriceandpooryields.Inadditiontoreducing
people’s capacity to ensure food security, monocropping also
contributes to declining soil fertility.
The Foundation has supported the Baynards Zambia Trust
(BZT) since 2011 : working to empower smallholder farmers
by building capacity and training them to develop sustainable
livelihoods through the introduction of cash crop productions
- such as bananas and soya beans - and activity diversifi-
cation. Farmers receive an initial loan, repaid after the first
harvest, to buy suckers and fertilisers, as well as additional
technical and business support and training. These collabo-
rative activities improve food security and nutrition with crops
harvested throughout the year meaning a constant supply of
food and an increase in income.
In2015,theZambianRainbowDevelopmentFoundation(ZRDF),
a local partner of BZT, empowered eight communities of the
MkushiDistrictbyintroducinganall-inclusiveapproachwhere-
bythe profits from these positive changes were invested back
into communities themselves. Thanks to the dedication of the
KapelembeandKalungalekacommunities,twonewclassroom
blocks and three teachers’ houses have been built and officially
opened. ZRDF was also able to procure 913 learning material
packs and 30 teachers’ guides to supply seven schools.
“The
relationship between
BZT and the Sinopec-Addax
Petroleum Foundation has been life-
changing for hundreds of subsistence
farmers and their families which in turn has
benefited thousands of people in remote rural
Zambia. This support has empowered farmers to
diversify the crops they grow beyond maize, which has
given them confidence to be in control of their lives.
As well as raising household incomes, family diets
have improved and there is money to send
children to school. BZT is indeed most grateful
for this support.”
Patricia Napier, Chairman -
Baynards Zambia Trust
18.
19. CONTINUED…
Due to a very unseasonal lack of rain, soya bean yields were
poor in the first harvest of 2015. Nonetheless, 98 % of loans
for soya bean inputs were repaid to ZRDF, and the number of
farmers with new loans who were sowing in December 2015
was 270, compared with 170 in December 2014. ZRDF facili-
tated pH soil testing for individual farmers to determine the
level of lime treatment required. Finally, 611 farmers have,
throughfarmers’groups,receivedmarketinginformationabout
selling high value crops.
In terms of outputs, ZRDF has been training 180 small-scale
farmers in goat husbandry to further diversify their incomes,
883 individuals living with HIV have received support and
specified treatments and 2,218 community members have
been reached with mobile health services. In addition, one
rural health facility has been rebuilt and four others have been
providedwithlogisticalsupport.Lastly,23orphansandvulner-
ablechildrenwere supportedinsecondaryeducation through
the ZRDF Bursary Scheme.
PARTNER
Baynards Zambia Trust (BZT)
www.bzt.org.uk
17
Christopher Mumene (upper left-hand corner photo on
p. 16) is a subsistence farmer married with two young
children. He is also responsible for his widowed mother
and three siblings living at his homestead. Because of
these additional dependents, Christopher was eligible
for a ZRDF loan, and was trained as a soya farmer. He
was attached to a group of four other farmers, and
tended his acre alongside their crops.
In 2015, Christopher managed to harvest 18 bags
of soya (weighing 50kg each), thus enabling him to
repay his loan. With the profits, he purchased some
household goods and paid school fees for two of his
brothers. The remaining income was saved for buying
fertiliser for next season’s crops.
Christopher wants to continue to grow soya, but on a
bigger scale. He feels it is a better investment than just
growing maize, as it requires less fertiliser per acre and
is harvested earlier. Soya has increased the quality of
his family’s diet and generated a much higher financial
return than the equivalent quantity of maize.
20.
21. 19
IVORY COAST,
CAMEROON AND DRC
TRAINING YOUNG RURAL
ENTREPRENEURS AND PROMOTING
SMALL-SCALE FARMING
Today,veryfewyoungpeopleinruralareasofCameroon,Ivory
Coast and the Democratic Republic of Congo (DRC) complete
primaryschool.Theeducationalsystemhasnotbeentailored
to meet the socio-economic constraints of these areas, and
seems unable to counter the impoverishment of rural popula-
tions. While the agricultural sector employs more than 50 %
of the labour force, young people often do not have access to
adequate support, knowledge and expertise to generate suf-
ficient profit through these agricultural activities. As a result,
an increasing proportion migrates to the cities hoping for a
better future, but can only access poorly paid positions with
little job security.
Since2012,theFoundationhassupportedtheInstitutEuropéen
de Coopération et de Développement (IECD) in the implemen-
tation of a “Family Farm School” (FFS) model in Cameroon,
Ivory DRC. The programme gives young people the necessary
tools to create and reinforce rural enterprises : improving
their social and economic welfare. Thanks to its dual training
programme adapted to the local cultures, the strong support
and involvement of the parents, and the low cost of education,
Family Farm Schools give young people in rural communities
asecondchancetoreceiveanappropriateeducationandfoster
entrepreneurship.Theyboostthelocaleconomybyenhancing
the value of agricultural jobs, and expanding the use of new
farming techniques.
1PROJECT 3COUNTRIES
A Family Farm
School (FFS) is a rural
centre for professional training
that provides a complete training over
three years to young adults (13-20 years
old). It is characterised by :
•a vocational dual training
at school and on the field to gain technical
knowledge and learn from field observation
•a global approach to education so as to
develop entrepreneurship
•a strong reliance on the local
community, involving parents
and teachers.
22.
23. CONTINUED…
In 2015, 1,488 students, 54 % of whom were female, were
enrolled in FFS centres and successfully finished the school
year.Additionally,104youngpeoplecompletedtheschoolyear
in one of the three Training Institutions for Rural Entrepre-
neurship (TIRE). They have developed specific skills tobeable
to set up their own enterprise in a rural area. During the first
semester, modular training offered a chance to 366 farmers
and parents to develop new skills on specific agricultural
techniques, including on how to set-up side activities and
increaseproductivity.Finally,176FFScentresandTIREtrainers
benefited from continuous capacity building, with over half of
the participants joining at least a one-week training session.
PARTNER
Institut Européen de Coopération et de Développement (IECD)
www.iecd.org
21
24.
25. 23
GUINEA AND
REPUBLIC OF THE CONGO
TRANSFERRING SKILLS
TO IMPROVE NUTRITION
2PROJECTS 2COUNTRIES
During an evaluation mission in West Africa, Mercy Ships not
only noticed that most existing medical facilities were severely
inadequate, but also that lack of prevention and knowledge
about basic healthcare and malnutrition cause significant
healthproblems.Recognisingtheimportanceofbreakingthe
cycle of disease at its root, Mercy Ships decided to implement
agriculturalonshoreprogrammestocomplementthemedical
work carried out by the Africa Mercy hospital ship.
Since2011,theFoundationhassupportedMercyShipsthrough
its agricultural programme “Food for Life” working with in-
country partners in Guinea and the Republic of the Congo to
helpfamiliesandcommunitieslearnpracticalfoodproducing
skills and thus reduce malnutrition.
Thetrainingcourselastsfourmonthsandincludesclassroom
and hands-on farming instruction. Participants are taught
skills that enhance their ability to grow crops and livestock,
and increase local food production using sustainable, organic,
and conservation-oriented farming methods. When trainees
successfully complete the programme, they are given seeds,
tools, and other resources to enable them to implement what
they have learned back in their own communities. Support
continuesthroughaseriesoffollow-upvisitstoaddresschal-
lenges and offer technical assistance.
“In this open and
meaningful relationship
with the Sinopec-Addax
Petroleum Foundation, we have
learned, improved, and grown by
walking together.
Our partnership is very precious !”
Myriam Schaffter,
Project Coordinator - Mercy
Ships Switzerland
26.
27. CONTINUED…
Replublic of Guinea
In Guinea, 18 trainers from four local NGOs benefited from
the “Food for Life” programme. In turn, they trained 274
community farmers, 27 students from national agriculture
schools and 150 children from primary schools. Additionally,
MercyShips’hostpartner,FABIK,washiredbytheGovernment
of Guinea to train 26 young men and women on organic
agriculture and entrepreneurship over a 12-month period.
Subsequently,threeofthetraineesdecidedtostayatFABIK
andworkonfarmingactivities.Amongtheother23,15went
back to their villages and started small farming projects.
The remainder, who did not have access to land, went back
to Conakry to look for employment.
In 2015, FABIK became a professional Agriculture Training
Centre with accreditation from the Ministry of Education.
Mercy Ships’ local partner’s plan for the next two years will
be to work with the Peace Corps on community farmers
training,andtotrain30additionalyoungpeopleinagricultural
entrepreneurship.
Republic of the Congo
The project in the Republic of the Congo was rolled out in
2014.InpartnershipwiththeCongoleseMinistryofAgriculture,
Mercy Ships' staff selected 25 participants from in-country
partners,andtrainedtheminnutritionalagricultureduring
a 19-week course. This represented an average of 645
traininghours,comprisingclassroomtrainingandhands-on
farming.Post-coursetestsshoweda54 %averageincrease
of scores in comparison with initial tests.
The participants were NGO staff or association members
acting as consultants to local farmers. They have, in turn,
trained 163 farmers and had the opportunity to share
their experience at the Mercy Ships’ Leadership Course
for community leaders in Dolisie attended by more than
400 delegates. In June 2015, a representative of Mercy
Ships Nutritional Programme conducted a follow-up visit
and monitoring of the project. Seven trainees from the
NGO partners and one independent trainee were inter-
viewed and were found to be teaching 145 people and 58
children about sustainable food production. EFFRADEL,
one of the local agricultural organisations also trained by
Mercy Ships, has been appointed by the Republic of the
Congo – World Bank to provide regional agricultural train-
ing in partnership with other “Food for Life” participants in
the areas of Madingou and Sibiti. Another “Food for Life”
trainee was providing moringa leaf powder to a hospital in
PointeNoire,whichisbeingusedfortreatingseriouscases
of malnutrition.
PARTNER
Mercy Ships
www.mercyships.ch
25
Following participation to the “Food for Life” training,
Pamela Nanitelamio has been granted a fund of
US$50,000 to start a company. She had not been able
to invest the funds during the political crisis in the
country ; however, as the situation stabilised, her team
started work on importing a machine to optimise food
processing and expand production.
28. Encouraging people to acquire
the necessary knowledge and skills to
become entrepreneurs can improve
their economic viability as well as
the economic and social conditions in
their communities
31. 29
SUPPORTING ECONOMIC VIABILITY
3PROJECTS 3COUNTRIES
Forthefourthconsecutiveyear,theFoundationhasbeensup-
portingFXBInternationalintheimplementationofitsFXBVillage
communitydevelopmentmodel.Theprogrammeliftsfamilies
outofpovertybyenablingthemtoachievesustainableeconomic
independenceandmaintainhumandignity,sotheycanprotect
and raise their children. It delivers long-term improvements,
guaranteeingaccesstovitalneedssuchashousing,healthcare,
educationandnutrition.Itultimatelyhelpsbeneficiariescreate
businesses, equipping them with the necessary training and
resources so they can achieve lasting self-sufficiency and
stability.In2015,theFoundationsupportedtheimplementation
of FXBVillages in China, Rwanda and Uganda.
CHINA
Bu Tuo County, Sichuan Province (China)
Kicked off in November 2012, the FXBVillage programme in the Bu Tuo County
focuses on providing vital needs to vulnerable children and their families, particu-
larly those whose head of household is a woman.
The Bu Tuo County is located in the Sichuan Province, one of the largest and poorest
provinces in China, where almost half of the 87 million strong population lives on
less than US$2 a day. The Bu Tuo County itself has a population of 140,000, 95 % of
whom are of Yi ethnicity. With more than 20 % living in extreme poverty, an illiteracy
rate of 73 %, and some 2,500 double orphans, the Yi community suffers from mal-
nutrition and dreadful hygiene conditions.
At the end of 2015, three FXBVillage programmes concluded,
meaning that 360 families and more than 1,000 children were
successfully supported towards social and economic inde-
pendence.
Around83indirectparticipantsbenefitedfromFXB’spresence
in the community.
32.
33. 31
CONTINUED…
Over three years, FXB provided them with a comprehensive
packagecomprisingreadily-availablehealth,nutrition,educa-
tion, social protection and legal support, as well as sanitation
and psychosocial services. The participants also received
funding to launch sustainable income-generating activities
(IGAs)andacquiredvocationalandfinancialskillstogradually
gain access to microcredit. Beyond that, intensive training
was provided to single mothers, which empowered them to
combat poverty.
This resulted in :
• 100 %ofhouseholdshavingatleasttwoincome-generating
activities
• 97 %ofhouseholdshavingsavings,andallofthemincreasing
their income
• All families cultivating a kitchen garden and eating three
times a day
• 97 %ofhouseholdsreportingeatingvegetablesdaily(compared
with just 1 % at baseline)
• 100 %ofparticipantshavinghealthinsurance,andinvesting
in an insurance policy for the coming year
• The school enrolment rate rising from 50 % at baseline to
87 % by the end of the programme
Gisiza, Muhanga District (Rwanda)
TheFXBVillageGisizaislocatedintheRemeracellofNyama-
buye sector, in the District of Muhanga. Remera is known
for being an isolated locality with infertile soil and misplaced
habitat. The primarily rural population is very poor with an
average of fewer than 50 acres land per household. Without
aregularincome,gettingadequatenutritionisdifficultforthe
majority of families. In addition to the prevalence of HIV and
AIDS, which is above the national average, the lack of acces-
sible, safe drinking water contributes to bad sanitation and is
a major cause of illness.
UGANDA AND
RWANDA
FXB
International and
the Sinopec-Addax Petroleum
Foundation share a similar vision,
a world where everyone has a chance
not only to survive but also to thrive. Several
partnerships implemented in China, Uganda
and Rwanda allow hundreds of families to move
towards economic and social autonomy. They work
hard to take advantage of the educational and
economic opportunities offered to them and
are able to consider their future and their
children's more smoothly
Christine Eggs, Executive Director -
Association François-Xavier
Bagnoud
34.
35. CONTINUED…
Launched in November 2014, the FXBVillage Gisiza helps
80 families develop community-based solutions to address
theneedsoforphansandvulnerablechildren.Thethree-year
programme provides beneficiaries with a comprehensive
package of support : helping households and community
groupsdeveloplivelihoodprojectsandcreatelastingsources
of income, while building sustainable community social
networks and referral mechanisms.
October 2015 saw the end of the FXBVillage Gisiza pro-
gramme’s inaugural year. The first months were dedicated
toimprovingsanitationforparticipants,andincreasingtheir
skills and knowledge about economic, social, medical and
nutritionalmatters.Throughanumberoftrainingsessions,
beneficiarieswereencouragedto movefromasubsistence
activity to a viable one, enabling them to strengthen their
family and social responsibilities, while developing their
ability to prevent and treat prevalent diseases. Since the
beginning of the programme, FXB has provided families
with nutritional support, helping to improve their health. In
parallel, all school-aged children attended school for the
first time, or re-entered formal education. With their basic
needs met, participants can then focus on developing their
income-generating activities. All families started their own
project,andreceivedthefirstinstalmentoffundingtolaunch
their micro-enterprise.
Naluko, Iganga District (Uganda)
In Uganda, conflict, displacement, extreme poverty and
HIV/AIDS in particular have left millions of people vulner-
able. It is estimated that there are over two million orphans
most of them as a result of HIV/AIDS. In the Bulamagi sub-
county, where the FXBVillage is located, the population is
estimated at 60,400 people, comprising mainly indigenous
ethnicgroupsfromtheeasternregions.Communitymembers
rarely have access to arable land, and are greatly affected
byfoodscarcity.Aswellaspoorsanitation,thereareveryfew
income-generating activities, meaning children regularly
drop out of school. The objective of the FXBVillage is to
gradually strengthen, over a three-year period, the socio-
economic capacities of 80 HIV-affected families - repre-
senting 600 people - so they are able to escape extreme
poverty and take care of their children.
Intermsofresults,nearly80 %ofbeneficiarieswereinvolved
in farming activities (i.e. crop production and animal hus-
bandry) by October 2015. Additionally, 15 nutrition and diet
z were held and 80 households report eating vegetables
daily. Lastly, six HIV prevention sessions were rolled out in
schools and in the community, 187 people were tested and
48 households received items for safe water preparation.
PARTNER
FXB International
www.fxb.org/international
33
36. Securing people's basic needs in
developing countries - food, water,
health, energy and shelter - in a
sustainable manner is essential to
improving their livelihoods and enabling
them to live in dignity
39. 37
GHANA
IMPROVING AN ORPHANAGE’S
SELF-SUFFICIENCY
In September 2000, Ghana committed itself to tracking the
eighttime-boundMillenniumDevelopmentGoals(MDGs)and
associated indicators. Although evidence shows that poverty
in the country has reduced substantially, it is unlikely that its
target of reducing the mortality rate of children under five by
twothirdswillbemetthisyear.Inaddition,AIDSandmaternal
death in childbirth are the major causes of children being
orphaned :babiesareoftenblamedwhenmothersdieinchild-
birth, and are consequently rejected by the father, relatives
or community.
The Save Our Lives - Ghana (SOL-GH) orphanage is home to
around 90 orphans in the Ashanti region. The children benefit
from shelter, clothing, food and education, enabling them to
growupsafelyandenjoybetterlivingconditionsandprospects.
The orphanage was founded in 1993 and, thanks to its per-
sonnel, volunteers and private donors, it has welcomed
more than 200 children during this time. In fact, a former
Addax Petroleum employee and his family have been actively
involved in the orphanage’s development since 2004.
Andsince2011,theFoundationhashelpedSOL-GHimplement
an integrated ecological farming project to help promote a
healthy living environment for the youngsters, while also pro-
viding them with the main elements of a healthy, balanced
diet. The project produces fruit, vegetables, cereals and ani-
mal products, such as meat and eggs, feeding the orphans,
with excess food sold to generate revenue for the orphanage.
“Each
child has the
right to have a decent life.
Giving an orphan in Ghana the
opportunity of education and finding
a place in society is a sustainable
project. The support from the Sinopec-
Addax Petroleum Foundation offers a
future to 90 orphans.”
Robert Bulstra, Project
Coordinator - SOL-GH
40.
41. CONTINUED…
The Foundation also contributes to the running costs of the
orphanage,includingbuildingandequipmentmaintenance.
Under the auspices of the local Executive Board created in
2014, SOL-GH continued its work in 2015 towards two main
long-term goals :
• Formal certification as a Children’s Home through com-
pliancewithGhanaianNationalStandardsforResidential
Homes for Orphans and Vulnerable Children
• Achieving financial self-sufficiency by the end of 2019
through revenues generated from the expansion of the
farming project, school fees for local children, and
increased efforts to secure donations
The construction of the new school’s first four classrooms
was completed in 2015, with the facilities scheduled to be
opened by September 2016. School activities have already
started on a small scale in the existing buildings.
Today, the farming area covers around three to four acres.
Thefirstcropofmaizeharvestedin2014generatedoverone
tonneofthecerealforselling.Inaddition,plantain,cocoyam,
cassava and a large number of orange and mango trees
were planted. In 2015, the second rainy season was used to
grow tomatoes and onions for the orphanage’s own use.
Lastly, SOL-GH and its founder Miss Paulina Opei were
granted the prestigious Heroes of Change award. It was
the first time SOL-GH had entered such a competition,
whichprovedtobetoughwitharound1,000otherapplicants.
As the winner, chosen by a judging panel and through votes
fromthetelevisionaudience,theorganisationwasrecognised
asprovidingexcellentqualityeconomicdevelopment,social
care and education and was awarded a prize of CH 25,000
to fund a project of its choosing.
PARTNER
Save Our Lives – Ghana (SOL-GH)
www.saveourlivesghana.org
39
42.
43. 41
TOGO
SECURING WATER AND
ELECTRICITY SUPPLY
In 2011, despite vast water resources in Togo, only 59 % of the
population had access to safe drinking water, according to
the World Health Organisation. In fact, because of inadequate
infrastructureandunderinvestmentinthesector,particularly
in rural areas, the state water network only supplied clean
drinking water to 39 % of the population.
Since 2009, The Foundation has partnered with Ingénieurs
ArchitectesSolidaires(IAS)toaddressthesewaterandsanitation
issues : directly and positively influencing the health of the
poorest rural population in Togo. The IAS team of volunteers
designs energy and water-related systems for developing
countries,providingaccesstodrinkingwatertoremotepopu-
lations using solar electricity.
The town of Mandouri, located in the Savanes region more
than700 kmfromthecapitalLomé,hasapopulationofapproxi
mately11,000.Theareaisisolatedandwithoutessentialbasic
amenitiessuchasaccesstohealthcare, electricityandmains
water.
The project in the town, which started in 2013 and saw the
construction of a semi-autonomous solar plant and installa-
tion of a new water supply system, now provides all hospital
care units, in particular the maternity unit, as well as neigh-
bouring inhabitants, with electricity and clean drinking water.
2014 saw the installation of the plant, with a photovoltaic
power of 4,860 watts-peak and a storage capacity of 72 kWh.
The water supply system is powered by 1,350 watts-peak
photovoltaic panels with a pumping capacity of 20,000 litres
per day.
Solar-powered solutions
for isolated regions are both
environmentally and economically
sustainable ; they enable social development
of local populations and open up the pathway to
a better quality of life. In particular, they improve
the quality of healthcare by facilitating night
interventions for example, they allow a better
conservation of medicines and vaccines under
refrigeration, provide villagers with a regular
access to drinking water and increase the
water supply within the hospital and
also in agriculture.
44.
45. CONTINUED…
Bothwereconnectedtothehospital’snetwork,providingclean
water to mothers and newborns. By the end of 2015, the solar
plant was producing on average 18,901 kWh of electricity and
101 litres of water per day, more than meeting the hospital’s
needs. Beyond the positive impact on the hospital’s quality of
healthcare,thesolar-poweredpumpingsystemgivesresidents
aconstantsupplyofcleandrinkingwater ;increasesavailable
water for farming, as well as construction work ; and reduces
waterborne disease.
In June 2015, 40 Addax Petroleum employees took part in a
sportingeventtoraisemoneyforIAS.TheNGOusedthismoney
to replace the four old solar energy generators fuelling the
health centre in Bagré, and to modernise the solar plant. In
addition, some electrical maintenance work was carried out
at the health centre and the Naki-Est maternity unit, including
replacing batteries and upgrading accumulators. A similar
maintenance plan is scheduled for implementation in 2016
in Borgou.
PARTNER
Ingénieurs Architectes Solidaires (IAS)
www.ias-ch.org
43
46. Volunteerism is a powerful way of
engaging employees in tackling
development challenges. In particular,
it is a means by which we reinforce
the existing ties between the
Foundation and the employees from
the founding company
48. EMPLOYEE VOLUNTEERING
Working together for effective employee
volunteering
In February 2015, FXB International (see pages 28-33) –
oneoftheFoundation'slong-termpartners–reachedout
to the Foundation seeking support to translate French
content into English for its new website. Twenty-three
employees came forward to help. To carry out the work
as efficiently as possible, it was divided up so that each
volunteer had just a few paragraphs to translate. Trans-
lations were then gathered, combined and proofread
by Addax Petroleum’s Communications CSR team to
ensure consistency.
Fundraising for Ingénieurs et Architectes
Solidaires
FortyGeneva-basedemployeestookpartintheB2RUN
race. This unique corporate event held in June 2015
raised funds for Ingénieurs Architectes Solidaires
(IAS), a Swiss organisation based in Geneva that brings
together engineers, architects, students and others with
an interest in alternative technologies (see pages 40-43).
IAS designs energy and water-related systems using
solar electricity for developing countries, ultimately to
ensureremotepopulationshaveaccesstocleandrinking
water. The Foundation has been working in partnership
with IAS since 2009 and - to date - has supported four
projects in Burkina Faso and Togo. Everyone taking part
putinagreatsportingeffortand,thankstotheirgenerous
sponsors, they collected CHF 6,500 for IAS, which were
matched by the Foundation.
Clothing collection for Caritas Geneva
Forthefourthconsecutiveyearduringtheholidayseason,
the Sinopec-Addax Petroleum Foundation, in partnership
withCaritas,collectedwinterclothingtosupportfamilies
inneedlivingintheCantonofGeneva.Thankstoemployee
contributions,fiveboxesofcoats,hats,scarves,glovesand
socks were gathered. These were donated to the Social
CloakroomofCaritasGeneva,aSwissassociationfounded
in 1942 whose primary mission is to fight poverty and
prevent social exclusion. Several tonnes of clothing are
distributedeachyeartomorethan4,000people,including
1,300 children.
Genève
Thank you to all the participants and sponsors !
46
49.
50. CONTINUED…
AWARDS
SOL-GH project wins prize in Beijing
In January 2015, Addax Petroleum and its Foundation
took part in Sinopec International Petroleum Exploration
andProductionCorporation’s(SIPC)OverseasCSRPrac-
tice competition. Three out of the four projects submitted
qualified for the final round, and were awarded prizes.
This first SIPC case study competition was held between
its overseas subsidiaries to underline SIPC’s core values
and showcase the Company’s achievements in this area.
ThejudgingpanelcomprisedSIPCexecutives,subsidiary
directors and external professionals, and winners were
chosen taking into account region-specific contexts, and
theexpectationsofmultiplestakeholders, whilefocusing
on both short-term results and long-term impacts.
OneprojectsubmittedbytheFoundationaimsatincreasing
food security and the economic self-sufficiency of an
orphanage in Ghana (see pages 36-39). The Foundation
has supported this project in the village of Anwiankwanta,
Ashanti Region, since 2011, helping to improve the living
conditionsofaround90children.Inadditiontoincreasingits
accommodationcapacityandensuringasafeenvironment
for the youngsters, the Foundation supports the develop-
ment of an integrated ecological farming programme.
48
54. REPORT OF THE STATUTORY AUDITOR ON THE
LIMITED STATUTORY EXAMINATION
To the Board of the Foundation of
Sinopec-Addax Petroleum Foundation, Geneva
Asstatutoryauditor,wehaveexaminedthefinancialstatements(balancesheet,statement
of income and general reserves movement and notes) of Sinopec-Addax Petroleum
Foundation for the year ended December 31, 2015.
These financial statements are the responsibility of the Board of the Foundation. Our
responsibilityistoperformalimitedstatutoryexaminationonthesefinancialstatements.
We confirm that we meet the licensing and independence requirements as stipulated
by Swiss law.
We conducted our examination in accordance with the Swiss Standard on the Limited
StatutoryExamination.Thisstandardrequiresthatweplanandperformalimitedstatutory
examination to identify material misstatements in the financial statements. A limited
statutoryexaminationconsistsprimarilyofinquiriesofcompanypersonnelandanalytical
procedures as well as detailed tests of company documents as considered necessary
in the circumstances. However, the testing of operational processes and the internal
control system, as well as inquiries and further testing procedures to detect fraud or
other legal violations, are not within the scope of this examination.
Based on our limited statutory examination, nothing has come to our attention that
causes us to believe that the financial statements do not comply with Swiss law and the
charter of the foundation.
Deloitte SA
Chris Jones Nicolas de Portier de Villeneuve
Licensed Audit Expert Licensed Audit Expert
Auditor in charge
Geneva, June 28, 2016
52
55. 5353
SINOPEC-ADDAX PETROLEUM FOUNDATION, GENEVA
Year ended December 31, 2015
(expressed in USD and CHF)
BALANCE SHEET
December 31 2015 2014
USD CHF USD CHF
ASSETS
Cash and cash equivalents 137,299 135,391 250,531 243,005
Total assets 137,299 135,391 250,531 243,005
LIABILITIES AND RESERVES
Deferred translation gain – 15,606 – 14,320
General reserves 84,458 69,785 197,690 178,685
Initial capital funds 52,841 50,000 52,841 50,000
Total reserves 137,299 119,785 250,531 228,685
Total liabilities and reserves 137,299 135,391 250,531 243,005
STATEMENT OF INCOME AND GENERAL RESERVES MOVEMENT
December 31 2015 2014
USD CHF USD CHF
INCOME
Donations (note 3) 311,006 299,110 915,047 835,347
Other income (note 4) 5,070 4,876 5,158 4,709
Bank interest – – 7 6
Total income 316,076 303,986 920,212 840,062
EXPENDITURE
Projects (note 5) 375,932 361,552 683,368 623,847
Administration (note 6) 53,376 51,334 213,149 194,584
Total expenditure 429,308 412,886 896,517 818,431
(Deficit) / Surplus transferred to
general reserves (113,232) (108,900) 23,695 21,631
56. SINOPEC-ADDAX PETROLEUM FOUNDATION, GENEVA
Year ended December 31, 2015
(expressed in USD and CHF)
NOTES TO THE FINANCIAL STATEMENTS
1. GENERAL
TheSinopec-AddaxPetroleumFoundationisanindependent
non-profitfoundationcreatedunderarticle80oftheSwiss
Civil Code and is registered with the Geneva Register of
Commerce from 26 January 2011 under statutes dated
14 January 2011.
The Foundation’s mandate is to contribute to sustainable
development projects addressing the root causes of
poverty in Africa and the Middle East. The programs and
projects supported by the Foundation are focused on
three core areas :
• Education
• Health
• Environment
Inordertoachieveitsmandate,theFoundationismaking
grantstoorganisations,institutionsorindividualsdesigning,
elaborating, carrying out or taking part in projects in the
three core areas mentioned above.
The Foundation is exempt from federal and cantonal
income and capital taxes.
Two persons are currently working for the Foundation.
2. PRINCIPAL ACCOUNTING POLICIES
Basis of presentation – the financial statements are prepared under the historical cost
convention and in accordance with the Swiss Code of Obligations. The Swiss Code of
Obligationshasbeenrecentlyrevisedandenteredintoforcein2015.Thefinancialstatements
comply with this recent revision. The accounting records are maintained in US dollar as
that is the currency in which the majority of the income and expenses are incurred and
is therefore determined to be the Foundation’s functional currency.
Donation income – donation income is recorded when it is received (cash basis).
Donation expense – donations (grants) made by the Foundation to third parties are
recorded as they are approved and paid and once the third party has reached an agreed
milestone. Commitments in line with the terms of the contracts (based on completion
of agreed milestones) are disclosed.
3. DONATIONS
December 31 2015 2014
USD CHF USD CHF
Donations
Addax Petroleum Holdings Ltd 300,000 288,525 900,000 821,611
Addax Petroleum Ltd 11,006 10,585 15,047 13,736
Total donations 311,006 299,110 915,047 835,347
In 2015, donations from Addax Petroleum Ltd included an amount of $11,006 / CHF
10,585 (2014 : $15,047 / CHF 13,736) which consisted of a donation relating to employee
volunteering expenses.
In addition, costs such as salary costs and related overheads of staff working on the
Foundation were paid by Addax Petroleum Ltd and not recharged to the Foundation, and
have not been reflected in these financial statements.
Addax Petroleum Ltd also donated the initial capital funds of the Foundation amounting
to $52,841 / CHF 50,000.
54
57. 5555
7. CURRENCY TRANSLATION
ThereportingcurrencyoftheFoundationisCHF.Thefigures
havebeentranslatedintoCHFusingthefollowingexchange
rates :USD / CHF :0.98610asclosingrateandUSD / CHF :
0.96175 as average rate.
8. EVENTS AFTER THE REPORTING PERIOD
There were no events after the reporting period that, at
the date these financial statements were issued, would
have a material effect on these financial statements.
4. OTHER INCOME
Deloitte fees are not recorded on a cash basis.
2015 Deloitte audit fees are treated as a donation in kind and amounted to $5,070 / CHF
4,876 (2014 : $5,158 / CHF 4,709).
5. PROJECTS
Disbursements Commitments
Total Grants 2015 2016 2017 2018
Projects USD 535,932 375,932 130,000 30,000 0
CHF 515,433 361,552 125,028 28,853 0
Future commitments will be fully supported by the future donations receivable from
the principal donor.
6. ADMINISTRATIVE EXPENSES
2015 2014
USD CHF USD CHF
Administration expenses
Services 15,563 14,968 23,552 21,500
Knowledge sharing – – 119,163 108,784
Office supplies 36,530 35,133 68,450 62,488
Miscellaneous 1,283 1,233 1,984 1,812
Total running costs 53,376 51,334 213,149 194,584
58. THANK YOU
We would like to congratulate all our partners for their
fantasticworkandcollaborativespirit.Wethankthemfor
theirvaluedcontributionandforprovidingtheinformation
and photos which helped us compile this report.
We would also like to extend our thanks to the Addax
Petroleum employees who dedicated their time, energy
and talent to the Foundation and the projects it supports.
Whether it be during volunteering missions, fundraising
activities or donations.
Photo copyrights
Cover page Mercy Ships, p. 10 GREF, p. 13 BZT, p. 14 BZT,
p. 16 BZT, p. 18 IECD, p. 20 IECD, p. 21 IECD, p. 22 Mercy
Ships, p. 24 Mercy Ships, p. 27 FXB International, p. 28
FXB International, p. 30 FXB International, p. 32 FXB
International, p. 35 BZT, p. 36 SOL-GH, p. 38 SOL-GH,
p. 40 IAS, p. 42 IAS, p. 43 IAS
Others :Sinopec-AddaxPetroleumFoundationandAddax
Petroleum employee volunteers : Gwendolyn Crespo, Adi
Chayto and Federico Porrera.
