Responding to talks in Dodoma with Mr. January Makamba (newly-elected MP from Bumbuli constituency in the Tanga Region of Tanzania), WILMA framed a general plan for an "Area Development Company," a new type of service company that was intended to provide a range of services to the Bumbuli Development Corporation, a proposal advanced by Mr. Makamba during his 2010 election campaign. While the idea of "ADCs" raised interest among young dynamic change-makers like January Makamba, appraisal of the feasibility of this new type of business as a replicable model found weaknesses that led over time to WILMA's present proposal for SEICs. Two areas of WILMA's focus in 2011 that also contributed to this result were: (1) research undertaken with the leading Kenyan financial manager Joseph Wambia and the staff of Wambia Capital on the creation of a hedge fund that would be suitable for providing private equity finance for new businesses and innovative projects of interest to WILMA particularly in rural East Africa; and (2) collaboration with Mr. Alex Dely, a Belgian physicist and engineer (presently a Contracts Manager for the Raytheon Corporation) to establish the Congo Infrastructure Hedge Fund, which will be potentially a second-stage provider of private equity capital for successful enterprises in the DRC assisted by SEICs there. Late in the year WILMA added staff with a view to expediting the launch of its SEIC agenda in 2012. |