Drum V3-06-07 by runout

VIEWS: 126 PAGES: 10

									                                                                                                        Volume 1, Spring 2007

 The Drum                                                                                                            Page 1

                                      One era ends and another ushered in:
ANNOUNCEMENTS                       Welcoming the new WASA leadership team
                                                         By                       It is hard to imagine that a year goes by so
Club News                                                Selorm Adadevoh          soon. While it has been an enjoyable and
- One era ends and                                       WG ‘07                   challenging year in leadership, it has been
  another ushered in                                     Ghana                    very rewarding also. My term in office was
- The new leadership team                                                         successful only because of the incredible
  is on board                                            WASA President,          support from everyone.
- Words from WASA alum                                   2006 to 2007
- 1st year, 2nd semester                                                          Firstly, I had a great team and the strong
- Clash of the titans:                                                            and dedicated leadership helped to ease
  Soccer showdown                A year ago by this time I was sending out        the passage. Secondly, I had a lot of
- My two years at Wharton        the first Drum edition under the Class of        support from the WASA family, from
- WASA member leads              2007 leadership. I had no idea what the year     AAMBAA and from Caribiz, all of whom
  WICS                           had in store for us and what challenges the      treated me and WASA as part of a bigger
- WASA members off to            road we were about to travel held. Today, I      family. Finally, alumni support was
  winning ways                   take off my hat with the honor of                undoubtedly significant. Throughout the
- WASA Speaker Series is         introducing the new WASA leadership and          year alums have been there in many ways
  re-launched…                   in so doing will like to congratulate Bolaji     and it is great to know that the family
- Class of 2009: Make some       Lawal for his appointment as the new             extends beyond the walls of huntsman. I
  noise                          President of WASA. Welcome aboard oga!!          will like to say a big THANK YOU, to all of
- Business News in Africa                                                         you for your support throughout our year
                                 I will also like to welcome aboard Bolaji’s      in office.
                                 executive team comprising of a strong and
------------------------------   enthusiastic group of talented individuals       Looking forward, I have no doubt that the
Editor:                          who by their contribution so far have left no    new leadership team will take WASA to
Selorm Adadevoh (WG ’07)         doubt on my mind that this leadership team       new heights. So far the team has
                                 has a lot to offer WASA. Welcome and             represented well. This year at WICS, the
Contributors:                    congratulations!!                                African act was a Congolese dance which
Eric Kacou (WG ’04)
Bolaji Lawal (WG ’08)
                                                                                  totally rocked!! We also took a break to
Victor Petenkemani (WG ’08)      WABF 2006 was undoubtedly a great                explore East Africa and spent an evening
Buddy Buruku (WG ’08)            success, thanks to Gilles Sablin and Alberta     feasting in true Ethiopian style in West
Vivian Nabeta (WG ’08)           Tete-Lartey, the Chair and Vice Chair            Philly devouring truck loads of injera.
Gavin Oxman (WG ’07)             respectively, who elevated the experience        There’s certainly a lot more to come so I
Kai Chaza (WG ’07)
Rekia Maikarfi (WG ’07)
                                 by further stretching the legacy that was left   strongly urge you, to continue to support
Kedrick Brown (WG ’08)           behind. The new WABF leadership, Victor          the WASA family as we’re definitely
Charles Njendu (WG ’08)          Petenkemani and Buddy Buruku, Chair and          bound for greatness.
Chi Onyewuchi (WG ’08)           Vice Chair respectively, despite the big
Ama Karikari (WG ’08)
                                 shoes to fill have already taken serious         Thank you for the honor to serve you and
Hamet Aguemon (WG ’09)
Dokun Adewole (WG ’09)
                                 strides and sent strong signals of the           for your support and guidance throughout.
                                 footprints they intend to leave behind.          Once again, congrats and all the best, to
Date: April, 2007                Welcome and all the best to you and your         Bolaji and his team!! Au revoir…
 The Drum                                                                                                               Page 2

                                    The new leadership team:
                       The core committee, in fine form...
                                                                                            Reading from left to right…

                                                                                            Back row: Victor Petenkemani
                                                                                            (WABF Chair), Anthony Okoro
                                                                                            (VP, Careers), Obinna Obilo (VP,

                                                                                            Front row: Vivian Nabeta (VP,
                                                                                            Internal), Bolaji Lawal (President),
                                                                                            Moji Shoyinka (CFO)

    Message from Bolaji Lawal –                                   Message from the new WABF Chairs,
New WASA President (‘07 to ’08)                                   Victor Petenkemani & Buddy Buruku
I am honored to be elected as the President of WASA. Ever        To perpetuate a tradition which dates back to 1993 when the first
since I started the application process for Wharton, my          edition of the Wharton Africa Business Forum (WABF) was
experience with WASA has been very enriching; it is truly a      organized, the Wharton Africa Student Association class of 2008
magnificent organization. First, I would like to give a big      invites you to the Nov. 10, 2007 edition of WABF with the theme:
THANKS! to Selorm “Papa Sel” Adadevoh, his executive             “Africa Rising: The New Dawn of Trade and Investment”.
team, and all the WASA second years for really showing us
the ropes throughout our first year. I don’t know what we        Africa is no exception to current development trends in Emerging
would have done without you guys.                                Markets. From 1999 to 2005, 34% of African countries had annual
                                                                 GDP growth of 4.5% or above. Fueled by high commodities prices
This year, we plan on continuing on the path that Selorm’s       and the implementation of sound macro economic reforms,
team has set, in continuing to raise awareness about Africa in   Foreign Direct Investments to the continent have soared to
Wharton’s community, and building a family bond within           unprecedented levels: $30 billion net inflow in 2005. While S.
the WASA community. For example, we have already                 Africa, Nigeria, Egypt and Morocco remain the main destinations
started a dialogue with the administration and core              of these investment flows, many other African countries are
curriculum faculty about including more cases about Africa       attracting new capital particularly from Asia.
in the core classes (outside of just dire cases about River
Blindness and HIV/AIDS). We have brought a speaker to            This year, the Wharton Africa Business Forum takes a more
speak about VC and Tech investments opportunities in             vigorous approach at identifying viable and attractive areas for
Africa to a packed room. We have launched a “Heart of            investment and trade with Africa. Within the context of
Africa” initiative to encourage members to write more            discussion about business opportunities, the changing economic
articles in the Wharton Journal about Africa. We have had        and geo-political landscapes, and examples of success stories, we
several social gatherings, and as you can see from the           hope that our panelists and speakers will enlighten the audience
adjacent article, Victor and Buddy have a fantastic              on Africa’s future, and how we personally can affect it both
conference planned for the fall. I am very excited about this    positively and profitably.
year and I hope to connect with as many alumni as I can over
the course of the next 12 months. Please continue with your      We hope you will enjoy this year’s conference, find it useful, and
much appreciated support and I look forward to working           take this opportunity to meet with the many participants, all of
with you.                                                        whom share a common interest in Africa’s development and
                                                                 prosperity. Look out for more correspondences from us as we
                                                                 will soon be reaching out to you to get your feedback and input
                                                                 to make sure that we have a successful 15th edition of WABF.
  The Drum                                                                                                         Page 3

Words of Wisdom from WASA alum:                                     First year, second semester:
            “Africa is calling…”                                                “Mixed emotions”

                             By                                                           By
                             Eric Kacou                                                   Vivian Nabeta
                             WG ’04                                                       WG ‘08
                             Cote d’ivoire                                                Uganda

Spring 2004: “working in Africa is a big sacrifice!” a            After a well deserved two week Christmas break, which
classmate of mine asserted shortly before graduation. My          many of us enjoyed in our home countries, the second
experience at OTF Group suggests the opposite. The OTF            semester started! Now, the second semester for a
Group is the competitiveness consulting firm that brings          second year at Wharton typically means “the Wharton
the   deepest     experience    in   building   prosperity   in   experience just gets better – I have a job, a sign-on
developing economies.                                             bonus and a ticket for beach week”

       Embracing Africa’s struggle for prosperity has                 For a first year student at Wharton, however, the
      been the most rewarding choice in my life. Every                second semester is a far different story - where
      Wharton MBA can choose to become a positive                     every third word in conversations is “DIP” and/or
             force for Africa to win this struggle.                                      “recruiting”

Rwanda is now selling its coffee to Starbucks. South              For a first year student at Wharton, however, the
Sudan’s leaders are embracing competitiveness to rebuild          second semester is a far different story - where every
their country. In Mali, the government is engaging the            third word in conversations is “DIP” and/or “recruiting”.
private sector on to grow its economy.            Post-conflict
Burundi is bracing itself to create prosperity for its            The second semester is typified by high stress levels
citizens.                                                         (depending on where on the recruiting chain one is),
                                                                  shot nerves and a generally compromised focus on
As a Wharton MBA, I served as a catalyst in each case and         things outside summer careers. But this is an
a dozen more. Let’s face it: Africa’s battle with destiny is      experience well worth undertaking, for how else do we
the continent’s struggle for prosperity.              Embracing   get to second year and appreciate the Wharton
Africa’s struggle for prosperity has been the most                experience.
rewarding choice in my life.         Every Wharton MBA can
choose to become a positive force for Africa to win this          Hmmm, I’m not sure whether I should be excited
struggle. The jury is in: for those of you still debating a       about completing my first year or sad that I only
return to the continent, each day you wait is a sacrifice!        have one year left at Wharton.
  The Drum                                                                                                          Page 4

            Clash of the titans – The soccer tradition
          continues and the Class of 2007 still rocks…
                                             by Selorm Adadevoh (WG ’07, Ghana)
As most of you would probably remember, the WASA first             What was interesting and slightly funny also was the fact
year and second soccer clash is a true test of manhood             that the ’07 guys were wearing simple trainers whilst
for the first years.                                               each of the ’08 guys had full blown soccer boots with
                                                                   shin protectors and fake jerseys… Someone even had the
With their year almost complete, their confidence in               nerve to wear an Arsenal top after they had been sadly
between their legs and their career goals all in the twist,        kicked out of the European champion’s league by
this is usually an opportunity for the first years to vent         minnows, PSV Eindhoven.
but this year the Class of 2008 took a different route.
The second years, of course, with the end in sight and
nothing    to   play    for   and   an   obviously   unjustified
confidence after last year’s abysmal performance against
a weak Class of 2006, it was no doubt that the Class of
2007 sought revenge and contrary to expectations took
this match very seriously.

The build up to March 30th was intense. The emails were
strong but the class of 2008 failed to respond. It was left
to the current WASA CFO, Moji Shoyinka, to throw some
dirt and make some noise but in doing so grossly
exposed her lack of knowledge of the beautiful game. We
forgive her though, because it’s all WASA love.                    In the spirit of brotherhood and family, we split the
                                                                   teams and enjoyed an hour of accelerated, African styled
                                                                   scintillating soccer clad with unnecessary showmanship.
      What was interesting and slightly funny also,
      was the fact that the ’07 guys were wearing                  In true WASA style, the loving, caring and dedicated
      simple trainers whilst each of the ’08 players               WASA ladies were in full effect, supporting the “noble”
    had full blown soccer boots with shin protectors               men who could barely go 10mins without a break. Bless
                                                                   their heart… There were a lot more ’07 ladies than ’08
                       and fake jerseys...
                                                                   ladies, so we conclude that ‘07 still rocks…

Traditionally, the match has always been played at the             To sum up, we had a wonderful day playing soccer and
left bank field but this year the “newbies” refused to play        through this developed an even stronger bond. It also
on such a crap field and insisted on Franklin field, the           became evident that, stamina and fitness had been
professional UPENN sports stadium. After raising the bar           introduced into Wharton’s admissions screening for ’08
so high, it was not surprising to find only two members            or taken out for ’07. At the end of it all, we shared a lot
of the ’07 team at the field at 12noon on the day of the           of WASA love and left with an even stronger, happy
match compared to eight for ’08. ’07 didn’t show!!                 family. Please keep the tradition going!!
 The Drum                                                                                                     Page 5

      My two years at Wharton:                                      My two years at Wharton:
         “Giving back to WASA…”                                 “It’s all about the family…”
     by Gavin Oxman (WG ’07, USA and Togo)                             by Kai Chaza (WG ’07, Zimbabwe)

When Selorm asked me to write about what WASA               You mean it's been two years!
meant to me, my schedule was totally packed, and I
instinctively moved my cursor to the ‘delete’ button in     "I guarantee you, there'll be golf courses in Philly", April
Outlook. Then I paused, and realized what a large part      2005, that was the first time I met Selorm, trying to
WASA has played in my Wharton experience. Thus, I           convince me to come to Wharton at the London admit
write these paragraphs as a capstone to my experience       drinks. At the same time, I’d just received an e-mail from
– not only to get Selorm off my back, but also to give      Ije Ikoku, then another one from Pam Codo, welcoming
something back to the club that has given me so much        me to Wharton. Then I bumped into Kuda on the
over the past two years.                                    admissions notice-boards and started e-mailing back and
                                                            forth in Shona. Although I was living in London at the
So, one of the greatest contributions that WASA has         time, my excitement about going to LBS waned because
given me has been the reinforcement of my interest in       of all these interactions with Africans at Wharton. The
Africa. Working on two WABF conferences, writing 3          rest is history.
term papers and my Lauder thesis on Africa has
significantly broadened my understanding of business
and culture in African countries. Additionally,                      “Mwana ashinga cheme anofira mubereko”-
attending those random Thursday afternoon                            the baby that doesn’t scream out loud won’t
presentations on Africa-focused topics (e.g. Wangari                                    get fed.
Maathai, William Easterly) has been a huge highlight
for me. I truly feel that because of WASA and the
Africa-focused events on campus, I am more                  From sitting through Sunny and Ade’s i-banking
knowledgeable and prepared to work in Africa again          seminars, spending all night working with Jerry and
someday.                                                    Femi preparing for i-banking interviews, getting
                                                            Okezie’s philosophy on Wall Street, learning the hard
I fear that WASA’s 2nd greatest contribution will sound     way that “business plan” in the US is not like back home
like a rehash of a bad consulting EIS; It’s the people!     in Africa, I somehow survived first year. It was strange,
As cheesy as that sounds, it is incredibly true. I have     all of a sudden I was a second year trying to give case
been thrilled to meet, work, and play with everyone in      studies to WASA first years-what do I know? I just got
WASA during my time here. I have found it                   here.
fascinating to get to know Africans in the Diaspora and
learn about their histories, opinions, and dreams.          Best experience will always be being locked in a room
When I first arrived at Wharton, I was fresh of the boat    for hours with Gilles and Felix trying to come up with
from Togo where I had lived and worked for two years        imaginative ways of getting American companies to
with the Peace Corps. Although I loved my experience        donate money to an African conference focused on a
there, the problems, poverty, corruption that I             region where they generate 5% of their revenue. As they
witnessed were quite depressing. I was amazed to            say in Shona, “Mwana ashinga cheme anofira
meet Africans at Wharton who were incredibly                mubereko”- the baby that doesn’t scream out loud won’t
talented, diverse, and optimistic about the future of the   get fed. Keep on screaming WASA; we’re off to the big
continent. You all have inspired me and reinvigorated       ol’ “real world”….aagghhhhh!!!
my desire to return there as soon as possible. Thanks
for everything…and as they say in Togo, “du courage!”
 The Drum                                                                                                  Page 6

              WASA member, Rekia Maikarfi, leads WICS
                                     to great success!!
                                        by Rekia Maikarfi (WG ’07, Niger)

I am absolutely honored to have worked on this year’s     I felt proud because I have insisted that a specific
production of one the most talked about event at          country from the continent be represented, just as
Wharton: the Wharton International Cultural Show          countries around the world are represented.
(WICS). WICS strives to promote the sense of cultural
diversity, creative spirit and unmatched talents that
have become known as a true part of the Wharton
identity and brand name, through the performing arts.
The club provides a forum through which Wharton
students and partners can showcase their culture and
international diversity. This year, more than 300
students and partners took the stage in a 3-hour
extravaganza to pay tribute to the myriad of
international cultures represented by the Wharton
community, to promote cultural awareness and to
celebrate diversity.

   …I would encourage more WASA members
    to get involved in leading Wharton wide                The WASA troupe shaking to Makosa, a traditional dance
      initiatives as it is an outlet to bring              from Congo, featuring Buddy Buruku, Vivian Nabeta, Anne
                                                           Ogunrinde, Moji Shoyinka, Ifeoma Mba, Bolaji Lawal,
           awareness to the continent.
                                                           Omar Stevens, Victor Abiola, Jonathan Ojany and Wole
A team of seven talented students of the class of 2007
worked diligently, tirelessly and passionately to bring   Seeing all the acts come together including WASA’s
the show live. We dedicated most (and sometimes all)      performance of a Congolese dance was a valuable
of our extra curricular time to the realization of the    moment and I would encourage more WASA members
show. As the producer, my role consisted of               to get involved in leading Wharton wide initiatives as it
overseeing all aspects of mounting the theatrical         is an outlet to bring awareness to the continent.
production of the show, which included developing a
business and financial strategy, promoting the creative   Leading this year’s WICS production has been my most
realization of the artistic directors’ visions, and       rewarding Wharton experience to date. Indeed, in my
overseeing the operation and marketing & advertising      mind, the unprecedented talents of the performers this
plans.                                                    year, their dedication, enthusiasm and preparedness
                                                          and the untiring, industrious, devotion of the
As a member of the Wharton Africa Student                 organizing team made possible a truly great show. It
Association (WASA), I wanted to personally bring          will be a constant reminder that in signing up to lead
more awareness to my continent. That moment came          WICS this year, I achieved only one great thing: I made
when the stage manager at the Annenberg Center for        many, many good friends with whom I will share
Performing Arts remarked that there has never been an     stories about their grandchildren and their golf
illustrative act from Congo in WICS in the past; it had   handicap, many, many years from now.
always just said “Africa”.
  The Drum                                                                                                  Page 7

                      WASA Members off to Winning Ways:
 Winning team of the 10th Annual                            Winning team of the 2007 National
       Graduate Business School                             Champions of the McKinsey Business
     Financial Eng. Competition                             Technology Challenge features not
         features WASA member:                                   one, but two WASA members:
           Kedrick Brown (WG ’08, Liberia)                           Charles Njendu (WG ’08, Kenya) and
                                                                      Chi Onyewuchi (WG ’08, Nigeria)

For the first time in 7 years, Wharton emerged victorious   A team consisting of four Wharton MBA students, two of
at the 10th Annual Graduate Business School Financial       whom are Wharton African Student Association (WASA)
Eng. Competition, held on April 13 at Lehman Brothers       members have won the first McKinsey Business
HQ in NY. It was organized jointly by the Tepper School     Technology Challenge. The team, called Inflection Point,
of Business at Carnegie Mellon University and the           consisted of Tammy Hensel, Charles Njendu, Chijioke
Lehman Brothers Quantitative Research Group.                Onyewuchi and Komal Rathi. Inflection Point won the
                                                            National McKinsey Business Technology Challenge held
The competition attracted teams from 7 of the country’s     in McKinsey’s New York office on Friday, April 20th, 2007
top graduate schools, including Chicago, NYU Stern,         and was awarded the National Champions 2007 award.
CMU Tepper, UC Berkeley, Columbia and Princeton.
Wharton’s triumph brought to an end UC Berkeley’s run       The Challenge started on Friday, April 13th, 2007. The
of two successive victories in the competition.             theme of the Challenge was to pick a company from the
                                                            Fortune 100 and show how any mix of four technologies
The Wharton team was Sandra Fontaine Moya, Kedrick          can dramatically improve revenue and/or productivity
Brown, Mohit Mittal, Paul Morris and Sid Khanna.            over the next five years. The four technologies were
Shailendra Sapra and Dominique Toublan also                 crowd sourcing and co-creation, ubiquitous broadband
accompanied the team to provide support and                 and persistent connectivity, virtual worlds for
encouragement. The team was coached by Professor            commercial use, and smart network elements and
Domenico Cuoco.                                             sensors.

Each team took the perspective of an investment bank,       Five business schools were represented in the Challenge:
and was presented with a client that needed to hedge an     The Wharton School, MIT Sloan School of Management,
upcoming equity issue in a specific set of future market    University of Chicago GSB, Haas School of Business, and
conditions. All teams financially engineered solutions to   Kellogg School of Management. 116 teams competed
the client's problem by applying aspects of product         through three rounds to get to the McKinsey Business
structuring, valuation, and hedging of market risks.        Technology Challenge, National Champions 2007 award.
Teams were judged on the quality of their analyses, the
logic of the derivation of their answers, the               On behalf of the entire WASA family, I would like to
professionalism of their presentation to the panel of       CONGRATULATE Inflection Point for their great
Judges and their responsiveness to Judges’ questions and    achievement and for representing for WASA in this feat.
  The Drum                                                                                                       Page 8

                  WASA Speaker Series is re-launched!!
  Featuring WASA Alum, Kunle Malomo (WG ’00, Nigeria)
                                        by Ama Karikari (WG ’08, Ghana)

The Wharton School is the most imminent breeding           There were over 45 Wharton students in attendance.
ground for the world’s business leaders. As members of     Malomo told listeners that democratization, political
the Wharton African Students Association (WASA) we         stability, deregulation, privatization, and reforms in the
recently felt compelled to ask ourselves “What are we      pension and banking sector are enabling substantial
doing to ensure that these future business leaders         business growth in Nigeria and other African countries.
understand the rich economic opportunities that the
continent of Africa provides?” The Wharton Africa          Moreover,      these     businesses    are     in   need     of
Business Forum and Africa GIP are certainly solid          communication infrastructure and as a result mobile
examples of WASA initiatives that are serving to change    phone penetration in Africa increased 54% between 2000
mainstream Wharton perceptions of Africa. However,         and 2005. Nigerian subscribers now account for 83% of
WASA membership believed that there needed to be a         all telephone subscribers on the African continent. Thus,
more frequent initiative that would reach those people     MTN’s 2001 investment of $285M for a Nigerian GSM
who could not attend the annual events of WABF and or      license that at the time seemed over-priced has proven
Africa GIP. It was this idea in mind that the WASA         to be a bargain and MTN’s private equity partners are
executive board of 2008 decided to re-launch the WASA      reaping rewards.        But before the Wharton audience
speaker series. Once a quarter, WASA will invite current   members became too excited about striking gold in the
professionals to speak to the Wharton community about      African telecom sector, Kunle Malomo warned that
issues as diverse as venture capital investing in Africa   investors should take baby steps as exit opportunities in
and marketing consumer goods in African markets.           the African venture capital landscape are often few and
                                                           far between.

     If you would like to speak on the
                                                           Kunle Malomo’s talk was met with rave reviews by all
     panel please contact the Speaker
                                                           those in attendance with several students demanding
     Series Chairperson, Ama Karikari
                                                           Kunle   Malomo’s       contact   information   in   the   hours
      at konama@wharton.upenn.edu
                                                           following the talk. The West African lunch menu of joloff
                                                           rice, fried plantains, ginger chicken, and bread shrimp
The first speaker event of this renewed initiative took place was also a hit among the students. The next speaker
on the afternoon of April 17, 2007. Kunle Malomo, WG series event would take place in late September or early
’00, integrated his experiences as a Co-Chairperson of the October of this year. The topic will be African Health
African Venture Capital Fellows Program and founding Care: Creating Win Wins for Both Pharma Companies and
president and CEO of Mobile AppsTech, Inc. to discuss the Citizens. If you would like to speak on the panel please
African private equity and venture capital technology contact the Speaker Series Chairperson, Ama Karikari at
investing environment.                                     konama@wharton.upenn.edu.
 The Drum                                                                                                 Page 9

                 The Class of 2009: Make some noise!!!

          Why Wharton?:                                             Why not Wharton?:
“How WASA has impacted me”                                   “WASA played a key role…”
                                  by                                                     by
                                  Hamet Aguemon                                          Dokun Adewole
                                  WG ’09                                                 WG ’09
                                  Benin                                                  Nigeria

Although I came for Welcome Weekend with my mind           WASA has meant a lot to me throughout my decision
completely set on Wharton, the four days I spent on        process. Actually, WASA played a great role in making
campus made me realise the outstanding community I         Wharton the best school for me. I knew any of the top
was about to become a part of. Wharton’s biggest asset     schools would provide a great education but I was
is its people and I was fascinated with the speed with     looking for the unique school that would continue to
which I could build a connection, exchange experiences     provide benefits throughout a lifetime; I was looking
and plan future trips. Having said that, I would like to   for a strong network in Africa.
share with prospective African students, my experience
with WASA. In one word, it was “great” and once                … I saw the type of engaged community
again, I am very proud I’d be part of the WASA                 that I wanted to be part of at Wharton.

First of all, the dedication of its members to welcoming   Preview Wharton: With the Global Immersion
new students, their availability and the whole             Program (sponsored by WASA) that showed a unique
organisation was just excellent. Secondly, there is one    dedication to Africa among the top schools. Then, an
aspect of the job that we don’t necessarily see when we    admissions director visiting several African countries
apply to Wharton, the devotion of WASA to get more         to promote Wharton to the talent (future students) at
students to the school and I know that when fall           events co-hosted by WASA alumni. I saw the type of
begins, I will become an active member of the              engaged community that I wanted to be part of at
association. Finally, I would like to thank the whole      Wharton.
WASA community for all their warm reception during
WWW especially the dance show at Wharton live and          Enter Wharton: I have been even more thrilled with my
the brunch on Sunday with delicious African dishes,        decision since accepting the offer. At Welcome
special thank to Selorm, Bolaji and Adrian (President of   Weekend, I asked a 1st year “Are WASA members
AAMBAA).                                                   tight” … a couple members laughed then she replied:
                                                           “Tighter than tight”.
And the best is that these four days was just the
beginning of the tremendous two years to come, and I
am looking forward to it!

             To our fellow WASA Class of 2009 colleagues, we look forward to joining you soon to
                                continue the legacy of the WASA family…

                                             WASA, here we come!!
 The Drum                                                                                                               Page 10

                                       Business News in Africa:
                                                   Stay connected…

WABF 2006: “New partnerships in Africa                             Kenyan investors trade stock for stocks:
play key role in global economy”                                   Nairobi - The 'herd mentality' of private investors has been
On November 11, 2006, the 14th Annual Wharton Africa               observed worldwide, but has taken on a new dimension in
Business Forum (WABF) run by the Wharton African Students          Kenya. According to Imara, the Botswana-registered financial
Assoc. (WASA), hit new heights by becoming what many               services group, the East African boom in local shares became
believe to be the most successful conference in the 14th year      so enticing that cattle-owners began selling their four-
history of this event. This year's forum focused on the recent     legged stock to buy the equity variety.
trend of partnerships on the African continent and the impact      Link:
these alliances are having on the global economy. The
conference theme, "Africa: Building New Partnerships,
Impacting the Global Economy," accurately emphasized this          Expansion of trade creates jobs:
key message.
http://media.www.whartonjournal.com/media/storage/paper201/ne      Addis Ababa - The expansion of trade and industry across
ws/2006/12/04/News/New-                                            Ethiopia has been creating thousands of new job
Partnerships.In.Africa.Play.Key.Role.In.Global.Economy-            opportunities both in rural and urban areas, the Minster of
2520181.shtml                                                      Trade and Industry said.
Chad       signs        $80M        deal       with       China:   http://www.businessinafrica.net/news/east_africa/797607.ht
China has signed a series of loan, debt relief and economic        m
cooperation agreements worth $80 million with Chad, less
than six months after the oil-producing central African            Kenya: Financial Firm Raises $300M for
country restored diplomatic ties with Beijing, according to        Bank
Reuters.                                                           A financial services group which recently applied for an
                                                                   investment banking licence in Kenya, has raised $300 million,
Microsoft and Nigeria sign 3-yr                                    an equivalent of Sh20.4 billion in equity capital for Nigeria's
Agreement:                                                         largest bank.
The Federal Government of Nigeria has signed a three-year
agreement    with   Microsoft    for   information   and
communications technology to accelerate the country’s
economic growth. The partnership agreement signed in Abuja
will help in building the skills of the nation’s software
industry to streamline the Federal Government's use of             Editor’s Note
Microsoft's software tools. The new agreement builds on one        We hope you enjoyed reading this newsletter and are excited
implemented in 2003.                                               about receiving the next edition. In the spirit of continual
Link:                                                              improvement, we strongly encourage you to send us any
http://www.reconnectafrica.com/March-BusinessNews.jsp              feedback you may have, as this will help us serve you better.
                                                                   Thank you for your time.

                                                                   Please email: Selorm Adadevoh at
                                                                   selorm@wharton.upenn.edu with any feedback or ideas.

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