John Villars - Camelot, Inc. - July 4, 2000

Camelot is a family owned business founded in 1980 by Elizabeth Villars.  The company specializes in the production of form spreads including computer data sheets and financial documents such as checks.  The company has grown from 6 employees to 57 employees.  There are 11 businesses (??) with local agents in other West African companies.  In the Annual Meeting, it was determined that Camelot has gone from a 167 (million??) Cedi loss to a 154m gain.  Camelot is producing more security printing services (corporate checks, share certificates, gift vouchers, travelers checks and product packaging).

JV said that Camelot is a-political, but that in this part of the world, success in business is bound to political favoritism.  

JV was educated in England (1992-1996) where he was exposed to corporate finance and the stock market.  You learn to do right things."  He also took a course in Germany in financial management for the printing industry.  He said.  JV said that Camelot established a monopoly relative to competition through its policies.  Camelot is expected to "do politics" but they don't mix.  

On the subject of WAEN, JV said that he has been in the Network for two years and that he knows a lot of members.  JV said that he was unaware of any "cliques".  JV knew KO and Tina's husband (from Mali?).  JV said that KO was young (under 40) and came home "in spite of things".  JV defined "things" as the fine line between business and politics, inconsistency in politics and "flavor of the month" businesses.  JV said his mother avoids government contracts, inflation and blatant kickbacks and trie to "play it safe" by dealing with multi-nationals such as Shell and Mobil.  

JV said that his mother was a systems analyst and the first female computer programmer.  She was trained in London and came back as the head of a computer department.  She wrote software (punch cards and computer forms??).  She also represented an Israeli company to ?????  Elizabeth also is a director of the Social Investment Fund for Poverty Reduction of the Private Enterprise Foundation.

The first piece of equipment obtained for her company was a collator to fold forms.  She then got into punching forms.  The plant is now 14 years old and will move to Tema (closer to port, more space, better for accessing raw materials).  90% of the raw materials are imported.  The company is not in an exclusive supply agreement..  When asked about raw material procurement and the bidding process, JV said that Camelot buys paper in reams from Europe/Scandenavia and materials from Brazil and Spain.  Camelot deals with paper brokers, not mills.  

JV's mother had plans for expanding her business but the government changed  so she was now waiting to expand.  JV complained that this killed her spur?? And stifled innovation.  JV claimed that the govt. has given a recent contract not to the lowest bid tendered (which was Camelot) but to the Party favorite.  31 December is in dire need for permanent changes.  "There are people working behind the scene to get you to change your conscious." he said.  Camelot doesn't want to shortcut-they would rather work in a peaceful environment.  "either sell your consciousness or pay kickbacks and adjust?? When politics change.  

JV noted that Camelot is listed on the Ghana stock exchange.  26-27% of equity is exchanged.  JV said that the company wants investors from the West and wants to bring on board some expertise.  The company wants to expand and diversify.  He said that there was still large local market.  JV complained that the govt. does not want to empower local industry and that politicians are more interested in the security of their seats.  As an example, JV said that Camelot is set up to do printing for the govt. in house but that the govt. has hired a Ghanian who imports from the UK at a higher price.  He said that while globalization has big potential for Ghana, they are not there yet, "the potential is there but not the political will."  JV also said that "the is  no service in this country-only the proverbial hospitality."