AFRICA RESEARCH EXCELLENCE FUND
Financial health, per its FY2025 accounts
The accounts state that total reserves amounted to £5.0m, with £1.7m in unrestricted funds and £3.4m restricted. The charity reports a net expenditure of £1.3m for the year, resulting in a decrease in total funds from £6.3m to £5.0m. The trustees consider the going concern basis appropriate, citing healthy cash balances and sufficient assets to meet liabilities.
What the accounts disclose
“AREF’s reserves policy is to hold nine months’ operational and redundancy costs plus £0.1m contingency value to cover third-party expenditure.” — page 33
“During the year there were transactions totalling £154.08 with Majula Boutique where Professor Tumani Corrah has significant influence. All transactions were conducted at an arm's length and on terms that are no more favourable than those available to unrelated parties.” — page 59
Leadership, per the charity’s website
- Professor Akhere Omonkhua — Chief Executive Officer
- Professor Sir Tumani Corrah — Co-President
- Professor Baron Peter Piot — Co-President
Funders the charity credits
- GSK
- Robert Bosch Stiftung
- Vitol Foundation
- Bristol Myers Squibb
- European and Developing Countries Clinical Trials Partnership
Structured financials (annual return, FY ending 31/03/2025)
Register events
- Received assets from another charity (19/01/2022)
Trustees
- Solomon Woldenhaimanot Soquarchair
- Charles Richardson Ladipo Clarke
- Dr Majdi Osman
- Pauline Anne Mullin
- Professor Gibril Faal
- Professor Tumani Prince Corrah
- Russell Delew
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £1.0m | £2.3m |
| 31/03/2024 | £5.7m | £2.3m |
| 31/03/2023 | £715k | £1.5m |
| 31/03/2022 | £5.1m | £1.4m |
Common questions
Is AFRICA RESEARCH EXCELLENCE FUND financially healthy?
The accounts state that total reserves amounted to £5.0m, with £1.7m in unrestricted funds and £3.4m restricted. The charity reports a net expenditure of £1.3m for the year, resulting in a decrease in total funds from £6.3m to £5.0m. The trustees consider the going concern basis appropriate, citing healthy cash balances and sufficient assets to meet liabilities. Its FY2025 accounts were audited by Crowe U.K. LLP.
Who funds AFRICA RESEARCH EXCELLENCE FUND?
Funders whose own accounts filings name AFRICA RESEARCH EXCELLENCE FUND as a grant recipient include MEDICAL RESEARCH FOUNDATION.
Known funders
| Funder | Year | Amount |
|---|---|---|
| MEDICAL RESEARCH FOUNDATION | FY2024 | £150k |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| Bird Song Trust | 1 | £79k |
| THE CHARIS TRUST | 1 | £53k |
| THE PAUL AND SHEILA BRADSHAW FOUNDATION | 1 | £41k |
| H C D MEMORIAL FUND | 1 | £25k |
| THE ADRIAN SWIRE CHARITABLE TRUST | 1 | £18k |
| CHRIST CHURCH MAYFAIR | 1 | £18k |
| CHRIST CHURCH LIVERPOOL | 1 | £16k |
| THE ASTOR FOUNDATION | 1 | £2k |