7/31/2008

Visit to OXFAM... and Thé Ataya

Since the electricity was not back to WOW office until noon, we spent the morning in a meeting room at OXFAM GB. It was a short distance walk to go there. We had everything to work in good conditions there. It was a busy day since everybody focused on the reports for the portfolio companies. We exchanged our drafts during the morning.  We spent the afternoon as usual at WOW office, had lunch here, and as we were finalizing our documents, we enjoyed drinking our daily "Thé Ataya".  

~Laurent

7/30/2008

Electricity cut

Bonjour tout le monde,
je suis Elhadji Malick Gaye plus connu sous le nom de Malick. je suis agent de WOW en même temps que Coordonnateur du stage.
Tout s'est bien passé jusqu'ici, car vous savez qu'au Sénégal depuis des mois les populations par zone sont privées d'éléctricité une bonne partie de la journée mais ce n'était jamais le cas pour le quartier de Sicap Amitié 3 ou se situe le bureau de WOW. 
Mais ce mercredi les stagiaires n'ont pu vraiment presque rien faire au bureau car il y'a eu coupure le matin à 7 heures jusqu'au lendemain vers 12 heures soit près de 30 heures sans éléctricité; ce fut un calvaire mais comme les stagiaires ont été scindés en équipes, l'équipe de Christian-Amara avait pris rendez- vous avec Sadio pour compléter le travail déjà démarré, l'équipe de Rose-Aïssatou, elle, avait programmé une visite à Enda Ecopole pour rencontrer jacques de fer forgé pour un complément d'information sur son activité, malheureusement, Aïssatou perd son beau-frère et n'a pu effectué le déplacement mais Rose très dynamique, a pu faire le travail avec beaucoup d'énergie et de determination. Moi, Laurent et sachiko, sommes restés au bureau et chacun accomplissant une tache se liant au travail et discuttant sur certains points.
Je vous dis à bientôt pour un autre compte rendu
Malick

7/29/2008

Working in small teams...

Hello! Today, each small team worked on different portfolio companies. We started to prepare first drafts of reports, based on yesterday's outline. Some of us re-visited or re-contacted the companies to get more information or express ideas for future growth steps. 

Sachiko and I went back to Marché.com and Restaurant Chez Maye this morning. With the first company, we reviewed her priorities in terms of financing and how the owner and her son are envisioning their future development. We started to define future investment/growth phases with them and key business drivers. With Maye, we suggested potential scenarios to develop her activity . She was particularly interested in one of them. We plan to meet her again to discuss the feasibility and financial features of that scenario.

It was another productive and interesting day. Tomorrow should bring additional insights...

~Laurent

7/28/2008

Planning our next steps


Hello readers, this is Christian, WOW’s “Expert Intern” for the summer program. To follow up on Sachiko, Laurent, Rose and Aicha’s great posts, I wanted to give you an update of our current activities.

Having finished the first set of meetings and interviews with the directors of WOW’s present and future portfolio companies last Friday, we settled into a planning session today to map out our strategy for the next three weeks. This week we plan on updating the quarterly reports for the companies who have already received WOW funding. This will allow us to better assess the impact these investments have had by analyzing whether these funds have allowed these companies to take concrete steps towards their objectives. It will also allow us to think about improving our due diligence process so to make future support for WOW’s partners more appropriate and effective.

The second task for the week is to begin reporting on the new set of companies which will be incorporated into WOW’s portfolio. These reports are important considering they give investors a chance to better acquaint themselves with prospects and risks associated with each company. As we have learned up to now, some of the first round of investments were put to good use and others less so; we therefore hope that the summer internship’s primary contribution will be to create tools and models to help both WOW and its partners align their common goals to foster rapid and sustainable development of promising Senegalese businesses.

To better achieve our aims we have broken into 3 small groups: Aicha and Rose are working on the two Enda Ecopole businesses and Entreprises Bracelets, Laurent and Sachiko have taken on Marché.com and Chez Maye, while Amara and I are focusing on Mountaga Tall and Ben Loxo. The scope of work is considerable and the challenges clear, but we are determined to put our heads together and rise to the occasion!

Until next time,

~Christian

7/27/2008

Île de Gorée

Laurent and I visited "Île de Gorée," a small island just 3km away from the seaport of Dakar.




Gorée is one of 5 world heritages in Senegal. Gorée was once used as a port to export slaves, and a few buildings left from the days reminds us of the horrible history.

At the same time, Gorée today is a popular beach for Senegalese, and all the boats going to Gorée are full during the weekend. You can enjoy the beach, or stay relax at a beach side restaurant, or walk around the calm nice town with beautiful flowers.







We had a relaxing moment there, relieved of always energetic Dakar.
-Sachiko

7/25/2008

Work sharing out

hello readers, this is Amara , wow's trainee.
I am just coming and making you informed the way the work were shared.

After vissiting all the companies together and discussing the situation of each of them, we decided to divide the team into three groups of two persons. And each groupe is in charge to deal with two companies. As for me, I form a tandem with Christian and we are working on GIE Mountaga TALL and Benn Loxo. For each company, we are involved in writing a final report and elaborating a business plan in order to help them to get their project more clear.

Before sharing the team into groups, we all agree to adopt the same report format that includes four parts: the company description, the investment assessement, the business analysis and recommendations and lessons learnt and best practices.

7/24/2008

Thursday, Visiting "Delices de la Mer" and "FEEM Design"


hello!
This day is very interesting in terms of discovery because we visit on the morning "Delices de la Mer" wich is a company managed by a very ambicious woman.
The manager, Khady Cisse, works in the fish and sea product processing. She is looking for certifiation in order to export products all around the world. She got a graduate degree in a business school but she did not want to work in a firm as un employee because she trust in free entreprise and sustainable improvment of her community by processing natural product. In order to help other women to inhance their entrepreneurship skills, she also train them to process natural fruits and vegetables.
She really want to participate to her country's development trough her business.


On the afternoon we visit a fashion shop named "FEEM Design" and lead by Yaye Fatou. It is an artistical show room with a friendly atmosphere within it is exibit original dress models.

Yaye and all her staff are designers and want to satisfy embroderi's demand because she is only specialised and focus in paint. Amid employees we have painters, taylors and those who work with pearl.She get a large portfolio of clientele and sell 70% of her products in africa and 30% in Europe and USA. Yaye Fatou also get an increase profit rate of 10% every year, this is why she is motivated to buy new machines and employ more staff.
These are the last visits of the week because friday will be reserved for brainstorming session.
-Aicha

7/23/2008

Visiting GIE benn Loxo at JOAL

This is Rose and I'm posting for the first time.
This wednesday, everybody woke up early because we were leaving at 7:00 am for our trip to Joal, a small town on the littke coast, two hours from dakar. Since there were no traffic jam, we get there around 9:00.
At the house of the president of the GIE, we discussed with the women and learnt about different types of fish and seafoods and how they transform them.
Then we went to the "Khelcom" market, the biggest fish market in Joal and in the region.
The last visit of the day were to the little port of Joal were we found men getting huge quantities of yet (cymbium) out of their shells.
We ended this trip, after an excellent "thiebou dien", and went back, all exhausted, but most happy to have been out of the city for a day.

-Rose

7/22/2008

Meeting with the Chambre de Commerce

Today started fast as we reviewed yesterday's companies and gathered our thoughts and observations. Another great working session, enhanced by the use of our new white board. We also divided the team into groups of 2 that could focus more specifically on 2 or 3 current portfolio companies in the coming week.


In the afternoon, we had the opportunity to meet with the Chambre de Commerce in Dakar. After learning quickly about their history and organization, and explaining the purpose of WOW to them, we talked more specifically about small and middle-sized companies. The institution realized a few months ago that it would be useful to provide more data about the economical landscape of Senegal to the general public, and will eventually publish key figures mid-August. Also, the training department is just starting to plan and design new modules targeting more specifically the non-formalized companies, which represent the great majority of small companies here. Also, they try to simplify the formalization process. They seem open to a partnership with WOW, which should be discuss with the president or secretary of the Chambre.

~Laurent

7/21/2008

Visiting new portfolio companies

Hello! Today, we visited 2 other companies. Those haven't yet received funds from WOW, but are excellent candidates. They belong to different industries: food/condiments and well-being/body-care:
  • SOPRA
  • Bio Essences
Our first visit was SOPRA and was clearly inspiring. Ami Dimé, 
the woman who founded the company started with 500 Fr cfa in the 90's, and is now employing 9 people and transforming/producing up to 200kg of pepper products daily. Those products contain no additives. We felt she had a true entrepreneurship spirit. She developed a loyal customer base among different communities over the years. She recently innovated with a new green pepper sauce. 

The next visit was Bio Essences. This company is very different from the ones that we had the opportunity to meet so far.  They made a large upfront investment to create, produce and promote high-quality karité-based products for the body. They started their production phase only a year ago. This company has a significant potential for growth. This would be very exciting to accompany them during their starting-up phase. We had the opportunity to visit the facility which includes very new equipment, a large lab and a highly clean production line.

That was another interesting day!
Tomorrow, the team will spend time at the office and visit the Chamber of Commerce in the afternoon.

~Laurent

7/20/2008

Saint-Louis

Saint-Louis was very worth visiting. The "ville" is on an island, in the middle of the "Senegal" river and was mostly built during the 19th century. Most of the houses have wonderful colors and make the island very charming. This is a World Heritage site. The city is relatively small, thus less hectic than Dakar. Despite some rains, and a longer than expected trip to get there, we felt Saint-Louis was a great place to spend the weekend. 

~Laurent 

7/18/2008

Friday at the office...

The office is in a great house with a lot of space/rooms that will allow WOW to provide training, exhibition, working spaces for the partners. Everything is getting set up day after day. There's more and more furniture. We have now white boards in the meeting room. A printer and 2 desktops arrived this morning and might get ready to work next week. It's very exciting to be part of an organization that is growing and getting structured for the next steps. 

Today was our 2nd brainstorming session, which focused on Entreprise Bracelets and the 2 workshops from Enda Ecopole. We kept the same analysis framework, since we felt it works well and trigger good discussions. Like on Wednesday, it went very smoothly. We thought that we could get more information about one of the workshops. Malick will try to get another appointment with the manager next week. Those working sessions are very good since, as we bring business ideas to the table, we need to consider the Senegalese culture and its specificities. It makes the discussions very enriching and valuable. 

Here comes the weekend. Everybody will have different activities. Sachiko and I plan to go to Saint-Louis. This should be a great opportunity to discover the country and visit a charming city :-)

~Laurent

7/17/2008

Enda Ecopole and Entreprise Bracelets

Good evening, we just finished speaking with Seni, from the Entreprise Bracelets, who creates and sells a wide range of small art products, such as bracelets, necklaces, decoration dolls, and many other beautiful creations... We felt she had an excellent knowledge of the market she targets. We learnt how she uses unique selling techniques and how she would like to expand her business and increase her company's revenue. We talked about different scenarios she has in mind to strengthen her presence in the markets of Dakar.

This morning was very booked, since we went to Enda Ecopole and had the opportunity to meet many people, and discover its neighborhood and its network of activities. Enda Ecopole is a very interesting organization that promotes small urban 
economy by providing support and to the young people who don't have access to school and face difficulties getting jobs. Through a wide range of activities, or workshops, they have an opportunity to get hands-on training and gain confidence. WOW provided funds to 2 of those workshops. One is focusing on transforming pieces of metals (such as used bottles caps) into art objects and furniture. The other one is creating iron-based products such as doors, stairs, or fences... using recycled pieces when possible.

It will be exciting to put down our thoughts about those companies tomorrow at the office.

~Laurent

7/16/2008

First brainstorming sessions

Today morning was very interesting as we sat down and exchanged our ideas about the companies we visited yesterday. Our approach was very much about analyzing the strengths and weaknesses of each company and identifying opportunities and risks. We decided to follow the same framework to structure our working sessions. After 1.5 to 2h gathering our thoughts about GIE Mountaga Tall, Marché.com and Restaurant Chez Maye, we defined our next steps, especially deciding if further analysis would be necessary, and which kind.

Lunchtime is usually late, around 2pm or 2:30pm, but very good since we now eat Senegalese food prepared for us at the office. 

In the afternoon, we had an appointment with Ecobank. The agency 
manager, Sanou, provided us with a good overview of her bank, and the Senegalese banking system in general. Our overall perception was that the Senegalese banking system today is not ready to offer credit to anybody or any entity without strong guarantee, especially to small and middle-size companies that are at a pre-growing stage and are not mature enough. What we learned from that interview confirms that WOW is uniquely positioned to assist the most promising ones among those companies, and therefore contribute to the development of the Senegalese economy.

~Laurent

7/15/2008

First day with WOW partners

Here we are! After reading previous reports about the different companies and women who received loans from WOW, we started to visit some of them today. The companies were :
  • GIE Oumou Mountaga TALL
  • Restaurant Chez Maye
  • Marché.com
The three are all situated in the suburbs of Dakar. A quick taxi trip under a hot sun brought us to GIE Oumou Mountaga TALL. The leader of the organization Sadio, is a highly skilled and organized woman, who can transform any cereals, fruits and vegetables into high quality products. For 3 hours, we got to know her vision, how she plans to grow her business, what her next steps are, and eventually visited the transformation center. She looked determined and really looking forward to working with WOW. 


Restaurant Chez Maye was our next stop. It came at a good moment, so that we can had lunch. After walking through the huge construction
site surrounding our destination, we enjoyed eating and getting to know Maye, who had prepared an excellent meal for us. We were impressed by her creativity and cooking background. An electricity cut didn't prevent us from spending a fruitful time with her, learning about her long-term plans, and the current economic situation in Senegal, where grain and energy prices, among others, are surging.


It didn't take us much time to walk to the next partner, 
Marché.com, situated just next door. Meeting Mrs Ndoye and her son was a really inspiring moment.  Through dedication and careful planning, they developed innovative delivery services of food, and other products to an untapped market: the women with occupations. We were impressed by their approach to customer service and how they are building a core group of loyal clients.

Our first day with the partners was very instructive and confirm my belief that we will learn a lot during the following days and weeks. Indeed, Malick prepared a pretty dense planning, with about 15 interviews for the coming 2 weeks. We will meet current portfolio companies, potential partners, and other organizations (e.g."Chambre de Commerce", Ecobank) from which we could learn more about the small and middle-size business economy.

Looking forward to the next visits...

-Laurent

7/14/2008

Kick-off; Summer Internship Program


Today, the summer internship team got together.



In the morning, Suparna, our CEO, Malick, Christian(development expert who is helping WOW this summer) and 5 interns met at WOW's office. Meeting started with watching a WOW's video(http://wowforafrica.com/wow/), and after quick introductions of each of us, Suparna gave us an idea of WOW's mission, portofolio companies, Economy of Senegal, and her expectation of this summer internship.



We learnt that the goals of this summer internship program are still open-ended. In addition to help current portofolio companies, WOW has a few projects, such as opening a business center for local entrepreneurs, starting business training sessions etc. Also, how WOW should be organized might need consideration. Suparna emphasized that she wanted us not only to focus on "what to do," but also to create the system/frameworks on which WOW can work on in an efficient way in the future.

Anyway, I was very happy to meet our Senegalese buddies today!



-Sachiko

7/09/2008

Moving in


Laurent and Sachiko (me) are two of 5 (possibly 6) summer interns at WOW Dakar office this year.


WOW levered its summer internship program as an opportunity of intensively finding and evaluating their portfolio companies here in Senegal. You can also check the blog written by interns of last summer at http://realtravel.com/senegal-trips-i4941348.html


Laurent and I are a married couple. Laurent is MBA '06 from UC Berkeley and I am MBA '08 from Stanford. We just flied into Dakar last Saturday, and met Malick at the airport. Malick is a full-time staff at WOW Dakar office and has been extremely helpful for our landing here.




Malick has been very busy setting up WOW's new Dakar office since last week. The picture is Malick and Laurent checking the comfort of brand-new chairs...


We just got internet the day before yesterday and we still need some work for office equipments, but Laurent and I are very excited to learn Senegalese culture and to meet the portofolio companies soon!


-Sachiko