ABC Proposal 2010 by African Business Club

3rd Annual African Business Conference Howard University |Â Washington, DC

Africa and the Global Economy: Moving from Crisis to Opportunity

February 25 â&#x20AC;&#x201C; 27, 2010

PROPOSAL

Table of Contents 1. Executive Summary 3 2. Rationale 4 3. Scope of Conference 6 ─ Success Benchmarks ─ Target Population 4. Schedule 8 5. Budget 12 6. Collaborations / Sponsorship 14 7. Contact Information 15 8. Appendix 16 ─ Business Plan Competition Proposal

Howard University African Business Club

Executive Summary

The Howard University African Business Club (HUABC) will be hosting her 3rd Annual African Business Conference from February 25 – February 27, 2010 in conjunction with the Howard University School of Business and the Graduate Student Council of the Howard University School of Business. The primary aim of our Annual Conference is to highlight business and career opportunities in African countries, as well as create a platform to showcase the positively thriving economic and business sectors of the African Continent to the global community. In addition, we hope to create a networking channel for students in the United States who are interested in business in Africa and businessmen and women all over the world who are seeking to discover and develop new talent for the continent. This aim will be achieved by featuring speakers on various panel sessions that will be selected from proactive corporate bodies and academia on the African continent and in the Diaspora. These speakers will have the knowledge and expertise to educate and enlighten the conference participants on the growing business landscape in Africa. The target audience is primarily Corporate America, successful African and African‐ American professionals, African students studying in U.S. colleges, young professionals interested in opportunities in African countries, and the international media. An estimated audience of about 400 individuals is expected. The conference, with an estimated budget of $51,500 will serve as means for disseminating information on corporate developments and opportunities in African countries to college students, graduates and business professionals interested in pursuing such opportunities in Africa. The Conference will also seek to provide authentic leads for alternate positive media focus on African nations and build lasting relationships between African students and professionals in their desired careers on the African Continent.

Howard University African Business Club

Rationale

In recent years, Africa has been increasingly portrayed in international media as either a place of extreme disadvantage for its people as result of corruption, civil unrest or rampant mismanagement of natural resources or an unsafe and infertile prospect for significant monetary and human investment. While we are aware that these depictions are true of many parts of the large African continent, we are also conscious of the major strides that Africa as a whole has made in several sectors of its economic and social existence. A few of these are: • • • •

• • •

Major improvements in Telecommunication and Information Technology in South Africa, Nigeria, Kenya and many other African countries; The development of structured Real Estate ventures all over the African continent; The continuous development of Capital Markets and the emerging consolidation of these markets in West Africa and other regions on the Continent; The continual increase in investment activity in Africa by large multi‐billion dollar corporations around the world and Africa’s unprecedented ability to withstand the ongoing global economic crisis with the rest of the world as we have observed in the past year; The growing banking industry and continued high credit ratings awarded to African Banks by world credit rating agencies; The huge, unexploited potential that Africa has in generating and providing most forms of energy and the wealth of raw materials available on the African continent; Major improvement of the entertainment sector in Ghana, Nigeria, South Africa and other countries notably in the music, film and television industries in those countries.

Furthermore, we recognize that the development in each of these sectors has helped to fuel further development of other sectors on the Continent as a whole. For instance, the rapid development of technology and telecommunication systems has greatly increased the effectiveness and efficiency of capital markets in African countries, which has in turn helped to facilitate the development of banking systems and credit capabilities and facilities available to growing businesses. As a group, we also understand Africa can only be accurately portrayed in a positive light by those who have vested interest in the future and growth of our continent. In an attempt to address this need for positive information and create an awareness of the potential of the African continent and the roles that are to be played by the African community and Diaspora, the Howard University African Business Club (HUABC) will organize her 3rd Annual Business Conference. Following the success of the past conferences in the last two consecutive years which attracted about 300 attendees of professionals and students alike Howard University African Business Club

and also served as a means to showcase the quality of the growing African business climate and an arena to foster communication among professionals across the African and American continents and between U.S. students and professionals abroad. The Howard University African Business Conference features panelists with experience and expertise in building ventures and successfully pursuing careers in several fields and at all levels. These panelists relate their experiences and provide valuable insight into their work, highlighting the growing business environment and the career and investment opportunities available all over Africa. Howard University, as a leading Historically Black University in the United States and with its auspicious proximity to various international organizations, embassies and universities in the Washington, DC metropolitan area and its extensive network of influential African and African American alumni, has always garnered the interest and support of African students and professionals in the U.S. for its various events focused on Africa. With a large population of international students from African countries, and its role as a rallying point for promoting the African image in the Diaspora, the university is strategically poised to attract successful and enterprising individuals who are genuinely interested in pursuing business and career opportunities in African countries. We are convinced that the success of Africa should be told to the world on this platform of Howard University’s legacy as a custodian and ambassador of the successes of Africans and Africans in the Diaspora.

Howard University African Business Club

Scope of Conference

The Conference aims to address the following issues: •

•

The need for more accurate coverage of the developments on the African continent, especially with to regards deficient information on the existing opportunities for growth and improvement in the African business sector; Inadequate information available to African students, policy makers, and interested individuals in the United States on the numerous career opportunities and the growing wealth of knowledge and expertise that is present on the African continent; Insufficient focus on the future prospects and the potential of all aspects of African business, ranging from impressive strides in the capital markets and banking sectors, to developments in the telecommunications industry, to growth of the real estate and tourism industries, to name a few; The need for networking opportunities for African students at all levels of higher education in U.S. colleges and universities, professionals in the U.S. private sector, investors, and those with interest in Africa to interact with corporate bodies and successful entrepreneurs in African countries; The increasing effects of the brain‐drain of Africa’s talent in the form of African students receiving high‐quality education in the U.S. who are uninformed of the opportunities to contribute to the growth and development of the African continent.

Outcomes The Conference would be deemed a success if it achieves the following: • •

•

Highlights the achievements of several sectors of the private sector in Africa, with attention to the specific contributions of panelists and speakers at the event; Facilitates an environment where students and professionals alike are able to network and develop relationships that will be of immense benefit to the African business environment in years to come; Nurtures the interest of college students and other participants towards pursuing or developing business ventures in Africa, or contributing to existing projects on the continent; Provide students, professionals and other participants with an environment to share insights and develop new ideas during interactive sessions and networking events;

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•

Enables access to information on the business environment in African countries as related firsthand by corporate bodies and individuals who have shown expertise in their fields; Provide a means for entrepreneurs (particularly those who have shown their proficiency in developing business ventures on the African continent) to share their experiences in navigating the process of developing a business idea into a thriving, profitable venture.

Target Population Participation is expected from the following sectors: •

• • • • • • •

An estimated audience of 300 African student leaders from various colleges across the U.S. (Howard University alone boasts of a population of 1,000 students from African countries such as Ghana, Nigeria, Senegal, South Africa and Kenya); An estimated audience of 200 African professionals from the East Coast United States; African Students’ Association affiliates from over 30 colleges across the United States; The Diplomatic Community in Washington, DC with expected attendance from country representatives of embassies in the metropolitan area; Corporate America and business investors across North America and the UK; Academic professionals from leading U.S. colleges; Minority business communities e.g. Asian, Mexican, African American; International media, business publications, local media and major news networks e.g. CNN, Fox News, ABC Network, Sky News, BBC, NPR, VOA, etc….

Howard University African Business Club

Events Schedule

The conference will take place on February 25 ‐ 27, 2009 at the Howard University School of Business, Washington, DC. The schedule of programs is as follows:

• Thursday, February 25th

Business Plan Competition — (6:00 pm to 8:00 pm)

Entrepreneurship and Economic Development are terms commonly juxtaposed in today’s literature as many countries and emerging economies are being transformed through intense entrepreneurial activities. In light of the vast opportunities on the African continent and its unwavering commitment to entrepreneurial growth, the Howard University African Business Club (HUABC) will be holding its second annual African Business Plan Competition. The Business Plan Competition seeks to: • Identify and expose prospective entrepreneurs in the Diaspora, • Link the prospective entrepreneurs with people and resources that can greatly impact the implementation of these business plans. The Business Plan Competition will consist of teams that will compete for a chance to win the following prizes: 1st Prize: $2000, 2nd Prize: $1000.

• Friday, February 26th

Arrivals (All morning) Speakers, panelists, and corporate representatives’ arrival and check‐ in to respective hotels Early Registration — (12:00 noon to 5:00 pm) Registration commences with conference participants being treated to light refreshments, and conference materials will be available for pick up at the registration site throughout the day. The HUABC and Leeds Bryan International Co – sponsored Career Fair | Connecting Talents – Africa — (2:00pm to 5:00pm) In light of the current global economic crisis, the Howard University African Business Club has partnered with LBI Consulting to host a one of a kind career fair aimed at connecting African professionals in Diaspora to a broad array of career opportunities within the

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continent. This program is in line with the growing need for career alternatives and reverse brain‐drain among Africans abroad. HUABC Sponsors, Guest Speakers and Planning Committee Networking Social — (7:30pm to 10.00 pm) This will be a special welcome social event for stakeholders of the conference (sponsors, speakers and planning team) to meet and network in a relaxed setting. The event will serve as a good opportunity for the planning team to answer any questions from the guests, and for speakers to familiarize themselves with fellow panelists prior to the conference.

• Saturday, February 27th

Registration / Breakfast — (9:00am to 10:15am) Opening Event / Keynote Address — (10:30am to 11:20am) An opening event with an address from the Dean of the Howard University School of Business will officially introduce and commence the day’s activities. The Dean will usher in the keynote speaker—a notable, highly successful and illustrious business or public sector leader in Africa—to deliver the opening keynote address for the conference. Session 1 — (11:30am to 12:45 pm) Panel 1: Banking in Africa | Predicting What Happens Next The magnitude of the changes in the banking industry is unprecedented. Global credit turmoil and rising inflation have crippled the economies of industrialized nations. African economies, however, remain fundamentally strong and are experiencing GDP growth that has matched and even surpassed the GDP growth of the world economy. A look into the future still remains shrouded in uncertainty. Will this positive growth continue or is Africa yet to feel the ripple effect of the global credit crisis? This panel seeks to remove this uncertainty. It will host leaders within the African banking sector who will couple their vast experience and insight to ascertain the possible industry changes, pitfalls, and growth opportunities. Moreover, the panel will highlight the future roles of government and private entities as the African banking sector moves forward. Panel 2: Analyzing Policies and Regulatory Constraints in the African Business Environment Regulations and Policies are created to make markets function better and meet society’s socio‐economic goals. However, even the most socially required regulations create costs that become unnecessary. The business environment in Africa presents a palpable example of how regulations and policies can become red‐tapes and bottlenecks that curtail the pace of free trade and growth. In that light, this panel will feature professionals from different

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business sectors in Africa with vast experience in dealing with the policies and policy makers in African countries. The aim of this panel is to examine existing policies that have been put in place to foster investment and new ventures in several sectors including agriculture, IT / telecommunication, financial services, media and entertainment. This panel will also highlight the various regulatory challenges that are prevalent in the African business spectrum and explore the future of policy‐making in Africa. Session 2 — (1:00pm to 2:15pm) Panel 3: Media and Entertainment in Africa | A New Investment Horizon Africa is home to one of the world’s fastest growing film industry; Nigeria being at the forefront. The Nigerian movie industry is valued in excess of $100 million with a production rate of approximately 2,500 movies a year; surpassing Hollywood to become the world’s second largest film producer in 2009 according to the UNESCO Institute for Statistics (UIS). Other notable strides in this industry are the Egyptian film industry valued at $70 million and the Ghanaian film industry which also recorded substantial growth in the last few years. More recent is the meteoric rise of the music industry in Africa; with the emergence of several African artistes to the global stage where they have received accolades for their works. This panel will feature major stake holders in the media and entertainment industry across Africa and aim to discuss and increase awareness on the vast investment opportunities in this industry, and also highlight the daunting challenges in the areas of distribution, piracy and quality control. Panel 4: Africa’s Place in the Green Energy Revolution | The Future of Oil and Gas For many years Africa has acted as one of the chief sources of energy by supplying coal, oil and gas to the world at large. It is worthy of note that the energy market is one of the biggest markets in the world economy accounting for trillions of dollars every year. Sadly, regardless of Africa’s vast store of energy reserves, the continent has benefitted little from this market because many African countries can barely power internal industrial processes today. As the world evolves towards alternatives to fossil fuels, the future of Africa has been called into question because the economics of many African nations still largely depend on the sale of fossil fuels. This panel will seek to address the role Africa will play in a world that is shifting away from fossil fuels as its main source of energy. It will discuss and seek to find solutions to Africa’s energy problems, and explore the present state of alternative energy sources like wind, solar and hybrid fuels in Africa. It will also project investment opportunities in alternative sources of energy, and address the future of the oil and gas industry. Light Lunch Break — (2:30pm to 3:00pm) Session 3 — (3:15pm to 4:30pm) Howard University African Business Club

Panel 5: Meeting the Challenge | Startup Capital for New Business Ventures Unlike Asia, which has experienced astronomical and diverse flow of investments within the last decade, Africa creates a marked reluctance in the minds of investors due in part to political instability and the relatively high costs of investment on the continent. As such, Africa lags in attracting foreign direct investments (FDI) and the much needed capital for start‐ups. Amid this crisis, a substantial number of new and viable business ventures have sprung up in Africa. This panel will thus feature successful African entrepreneurs from a wide array of industries that will share their experiences on raising capital for business, and help raise awareness on the growing microfinance sector in the financial market, as more Africans on the continent and in the Diaspora explore entrepreneurial possibilities. Panel 6: Real Estate Investment in Africa | Housing a New Generation of Middle Class People Africa in the past few years has witnessed a general increase in the demand for urban housing largely attributed to the emergence of a new middle class population. This has opened up an immense real estate market in Africa that has continued to reveal increasing potential in the last few years. According to Mercer's 2008 Worldwide Cost of Living Survey, Lagos, one of Africa’s most populous cities surpassed the likes of Barcelona, Berlin and Brussels, and even U.S. locations such as Washington and Los Angeles ‐‐ to be rated the 30th most expensive city in the world. This can largely be credited to the steady rise in prime real estate value and the growing demand for such properties across the continent. This panel seeks to educate individuals as well as investors about the investment opportunities in the African real estate sector. It will address such issues as government housing policies, land tenure issues, mortgages, housing construction costs, African Diaspora involvement, and the impact of the global economic crisis on real estate value. The panel will feature speakers with vast experience working in the real estate industry that will inform, as well as inspire, people to take advantage of the burgeoning opportunities in the African urban real estate market. Meet the HUABC Sponsors: Corporate Presentations and Networking Session — (4:30pm to 5:45pm) A special corporate presentation opportunity for all HUABC sponsors. Each sponsor will have a room / booth to speak to participants about corporate identity, strategy, business scope, achievements, human resource development or even about their corporate brand. This session will serve as a Corporate Brands’ Parade of sort. Sponsors can also use the platform to connect with participants and may distribute brochures or souvenirs after their presentations, as well as speak about career opportunities at their organizations. Following the presentations will be a general networking session for all conference participants for closer interaction with corporate representatives as well as other participants. Light cocktail refreshments will be provided during this period. Closing Banquet: Keynote Address and Leeds Bryan International African Business GAINS Award — (6:00pm to 9:00pm) Howard University African Business Club

Budget

An estimated cost of $54,500 will be needed to successfully host the conference. Funding will be solicited from corporate sponsors and organizations interested in partnering with the HUABC to host this conference. Below is a summary of the conference budget: a. Publicity $5,000.00 i. ii. iii. iv. v. vi.

Website Posters Information pamphlet/ booklet Advertising Street/ Media Team Photography

b. Conference Supplies $3,500.00 i. ii. iii. iv.

Invitations Bags/ folders Brochure Stationery

c. Setup and Venue Branding $4,000.00 i. ii. iii.

Screen Rentals Banners, Booths and Stands Equipment Rentals

d. Catering and Luncheon $20,000.00 i. ii. iii. iv.

Networking Gala Breakfast/ Light Refreshments Hall and Equipment reservation Music/ Entertainment

e. Travel & Hospitality $17,000.00 i. ii. iii.

Lodging: 20 guests x 2 nights @ $300 ($12,000) Local transportation: 5 town cars @ $400 ($2,000) Speaker per Diems: 2 speakers @ $150 ($3,000)

Howard University African Business Club

f. Business Plan Competition Cash Award (See Appendix) $3,000.00 g. Miscellaneous $2,000.00 TOTAL $54,500.00

Howard University African Business Club

Collaborations/ Sponsorship

The conference aims to represent participants with knowledge and experience from diverse backgrounds, and as such the HUABC will partner with various organizations to pull such resources. We will be working closely with the following organizations: • • • • • • •

The Howard University School of Business The Whitaker Group Entrepreneurship and Leadership (ELI) Institute, Washington, DC Graduate School of Business Council (GSBC) Embassies of Various African Countries—Nigeria, Kenya, South Africa and Tanzania International organizations located in the Washington, DC area, e.g. World Bank Howard University African Students’ Association

Media/Marketing Consultant • •

Leeds Bryan International Purrples Consult Limited, Nigeria

Howard University African Business Club

Contact Information

For more information, please contact any of the following members of the Howard University African Business Club who are responsible for initiating and implementing this Conference proposal:

Conference Chairs Peter Ramsumair Taiwo Oyeniyi +1 (202) 758 5422 +1 (202) 421 9632 pramsumair@gmail.com muyiwaoyeniyi@yahoo.com

Howard University African Business Club Executives Ethleen Sawyerr President +1 (732) 266 9845 edsawyerr@hotmail.com Ami Bello Vice President +1 (202) 758 7032 ami_bello@yahoo.co.uk Bolaji Bedu Secretary +1 (202) 538 2700 omobolajibedu@gmail.com Juliet Odogwu Treasurer +1 (309) 241 8867 jodogwu@gmail.com

Howard University African Business Club

APPENDIX Howard University African Business Club

Â Howard University African Business Club

Howard University African Business Club

Bring your ideas to life

Description

Identify and expose prospective entrepreneurs in the Diaspora, Link the prospective entrepreneurs with people and resources that can greatly impact the implementation of these business plans.

The Business Plan Competition will consist of teams that will compete for a chance to win the following prizes: 1st Prize: $2000, 2nd Prize: $1000.

Sponsorship I. II.

One organization (diamond sponsor for the conference) will reserve sponsorship and branding rights for the Business Plan Competition. Silver Sponsors: All other organizations that provide funding for the Business Plan Competition will reserve the right to elect a representative to the panel of judges for the competition.

All sponsors will receive a plaque and will be recognized during the business plan presentations taking place on February 25, 2010. Please use the sponsorship agreement accompanying this conference proposal, and indicate “Business Plan Competition” in the amount field. Rights to sponsorship will be on a first‐come‐first‐serve basis. Please also send an email to taiwo.oyeniyi@howardabc.com and juliet.odogwu@howardabc.com to indicate interest in sponsorship of the competition.

Timeline The Business Plan Competition comprises three phases: I.

Initial Phase: September 23, 2009 – October 14, 2009 At this point, the HUABC officially opens the competition and declares the rules of participation. Also, participants in the competition are required to turn in an application and provide details of their team members. The details include: 1) Name of team members 2) Major/disciplines 3) Nationality 4) One page statement on interest in Africa

II.

Compilation Phase: October 15, 2009 – December 16, 2009 During this period, each team is expected to refine its ideas to cater to a specific business opportunity, to conduct feasibility studies on the business opportunity and to compile and submit its research in a well written and very competitive business plan.

Howard University African Business Club

III. Completion/Presentation phase: January 13, 2010 – February 25, 2010 In this phase, all business plans submitted are evaluated by the Howard University Institute for Entrepreneurship, Leadership and Innovation (ELI Institute). On February 25, all pre‐selected teams will be called to make a 15 minute presentation to a panel of judges. The judges will consist of individuals from academia, industry, venture capitalist firms, among others. All presentations will be in standard PowerPoint format and will end with the opportunity for questions and answers.

Business Plan Checklist

Executive Summary Business concept Current situation Key success factors Financial needs

Market analysis The overall market Market segments Target market and customers Customer needs Competitive analysis Industry overview Nature of competition Primary competitors Strengths, Weaknesses, Opportunities, Threats (SWOT) Strategy Key competitive capabilities Key competitive weaknesses Implementing strategy Competitive analysis Industry overview Nature of competition Primary competitors Strengths, Weaknesses, Opportunities, Threats (SWOT)

Strategy Key competitive capabilities Key competitive weaknesses Implementing strategy

Products/services Product/service description Positioning of products/services Competitive evaluation of products/services Marketing and sales Marketing strategy Advertising Publicity Operations Key personnel Organizational structure Human resources plan Product/service delivery Customer service/support Facilities Financials of the business plan Assumptions and comments Profit‐and‐loss projection Cash flow projection Balance sheet projection Ratios and analyses

*This checklist is not exhaustive.

Howard University African Business Club

Rules and Regulations of the Competition

Participation The competition is open to undergraduate and graduate students of Howard University and colleges/universities in the Maryland, Virginia, and D.C. area, with entrepreneurial ambition on the African Continent. This, however, does not limit the participants by nationality. Also, the business plan

team must consist of at least 2 participants. Winners from the previous Business Plan Competition may participate only with an entirely new business idea. However, other past participants may participate with the same business idea in a new business plan. Members of the Executive Board

members of the HUABC cannot participate in the competition and are not allowed to interact with the participants in matters relating to the competition. II. Originality of Business With the current strains and infringement on intellectual property, please ensure that the business plan being submitted is original or has services unique to the competitive environment. This is to avoid any legal issues that may arise. III. Acceptable Business plans Given the existing structure of our case competition and the nature of business in the African continent, HUABC would only be accepting two forms of business: New Ventures Contract agreements and proposals IV. Confidentiality The Howard University African Business Club is an organization built upon integrity and the utmost respect for the confidentiality of all strategic partners and this is no different for the Business Plan Competition. HUABC will ensure that business plans and concepts are not duplicated or circulated for any other purpose other than Conference use. V. Penalties and Disqualification The ultimate penalty for violation of these rules set down would be disqualification from competition. If at a later period, HUABC becomes aware that a winning team violated rules pertaining to the competition, the team would be required to forfeit its award.

Howard University African Business Club