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Reinventing Business in Africa: The 2003 Africa Business Forum
They came from Ghana. They came from Nigeria. They came from all over Africa. And they came to Wharton to share their career experiences with Wharton students at the 2003 Africa Business Forum on Nov. 15.
The forum, entitled "Reinventing Business in Africa: from Entrepreneurship to Corporations," drew 250. The conference featured panels on topics ranging from Telecom and IT Entrepreneurship to Reinventing the African Educational System.
Attendees, many from a special student group, the Wharton African Students Association, were immersed in discussions on the development of globally competitive corporations in Africa. Their bigger goal was to support proactive initiatives that enhance the economic development of this emerging market.
The forum also sponsored the Africa Business Plan Competition, the only Africa-focused business competition at any U.S. business school. The winner was Chetaizu Agbo with MindaXcess, which laid out a business plan to develop the reading habits and problem solving skills among Nigerian youth. Their vehicle: comic books.
With 55 percent of Nigeria's population under age 19 and no current competitor, their target market seems ripe for entry. The winner received a $5,000 prize.
"The amount of value creation depends greatly on the inefficiencies in a system," noted Emeka Orjih, WG'04, a member of the forum's organizing committee. "The relatively higher levels of inefficiencies that prevail in Africa make that continent a capitalist's paradise."
The forum was organized by Wharton students from Africa, who will return home with many new ideas about jump-starting companies.
"I realize that I'm looking at the future," concluded former U.N. Ambassador and keynote speaker Andrew Young. "I look at things that most people see as impossible, and I look at you and I see that it is just a matter of time."
For more information, visit:
> 2003 Africa Business Forum
> Wharton African Students Association
> Africa Business Plan Competition
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