INTERNATIONAL

January-March 2002

Citigroup spreads generosity around the globe ne company is helping JAI embracing JAI’s programs on four A good example of one keep the word “Interna- continents and in 37 countries. of these new programs that Otional” behind its name. The Foundation, funded by Citi- has garnered accolades From to Zimbabwe and group businesses that include from students and teachers from Tokyo to Toronto, the com- , CitiFinancial, Primerica, in numerous countries is pany is leaving a vast imprint on Salomon Smith Barney and Travel- Banks in Action (BIA). It the globe. In the wake of that ers, is approaching the US$2 mil- helps students understand for short and long terms imprint are literally millions of lion* mark in contributions to JAI. the basic elements of banking. • decide how much to spend on young people who now face a ’s funds permeate In BIA, students learn to: marketing to attract savers and better future. all facets of JAI - not only help- • attract deposits and loan them borrowers to the bank The company is Citigroup and ing sustain existing programs, to borrowers • decide how much to spend on its contributions are helping JAI but also starting new ones in • set interest rates on the funds continued on page 2 encircle the Earth with economic countries that desperately need education and hope for brighter the kind of help JAI gives with tomorrows. programs that fit specific com- The Citigroup Foundation is munity needs.

*NOTE:Actual Foundation support since 1996 is $1.85 million Citigroup’s Worldwide Support Argentina Germany Panama Tanzania Belgium Greece Paraguay Tu r key Brazil Guatemala Philippines Ukraine Canada Hungary Poland United Chile Ireland Romania Kingdom Colombia Italy Russia Costa Rica Japan Slovakia Uruguay Cote d’Ivoire Kazahstan South Africa Venezuela Czech Republic Kenya Spain Ecuador Nigeria Sri Lanka Colegio Tecnico Profesional de Heredia team members were joined by supporters and JAI officials following awards ceremonies. Citigroup funds competition in Latin America n December 4, 2001, in Buenos 13 finalists were flown to , Aires, Argentina, student teams compliments of Citibank-Argentina, to Ofrom 13 countries in Latin America compete in person. met to face-off in the final round of the Banks in Action (BIA) is a computer Banks in Action Regional competition.The simulation and learning and team building winners were: activities that allow students to assume First Place: Colegio Tecnico Profesional the role of managers to make company de Heredia, Costa Rica decisions in a competitive environment. Second Place: Instituto Tecnico Sale- The program was developed by the JA siano, Dominican Republic organization in Argentina and Harvard Third Place: Pontificia Universidad Associates of Massachusetts with funding Catolica, Brazil from Citibank-Argentina. The team winners, Colegio Tecnico Profe- Fourth Place: Colegio Secundario No. Guillermo Stanley, vice president of sional de Heredia from Costa Rica, put their heads together during the competi- 5060 el Bordo Provincia de Salta,Argentina Citibank-Argentina, along with volunteers tion. Left to right are Andrea Suárez The competition began 18 weeks prior and educational officers, was on hand to Fonseca, Fabián Alvarado Sandí, and with 2200 students from 510 schools.The present the awards to the BIA winners. Esteban Méndez Bravo. World Record A Brief Overview of Junior Achievement Around the World USA spent time showing the group Kenya of principals, vice principals and The Citigroup Foundation The Exxon- Mobil Founda- teachers how JA works and has given a $10,000 grant to how it enhances the curricula JA Kenya to expand the JA tion, the charita- ble arm of Exxon Mobil Corpo- of Canada’s schools.The visitors Company Program. In addi- also stopped by several schools tion to the cash donation, ration, announced a matching grant of $383,700 to partner in the Durham region to learn several Citigroup employees how they operate. Durham volunteer in JAK classrooms, able to reach 25,000 students with the John Templeton Founda- tion for the development and reported that the educators serve on committees and with our programs,” said were going to seek more infor- participate in fund raisers. Susan Waweru, executive launch of a Global Business Ethics curriculum. The new pro- mation on JA when they The company also gives JAK director for JAK. This is the returned to Japan. numerous in-kind donations second grant of $10,000 that gram will emphasize the impor- that include office furniture Citigroup Foundation has giv- tance of ethics and personal and computers.“There’s no en to the region. In 1999, the responsibilities in business. Once Hungary and doubt that the Citigroup Foundation gave $10,000 to implemented, the program will be enhanced with an annual Global Turkey Foundation is the force open JAK operations in The Levi behind our growth and being Nairobi. Business Ethics Competition. “Ethics is an integral part of Strauss Foun- business and we’re happy to be dation gave able to support this new cur- $30,500 to USA riculum that we think will make help increase The Alcoa Foundation awarded a huge impact helping students JA program- $50,000 to JA International to assist with understand the importance of ming in Hun- the initial launch of an annual Global ethics in a global economy,” said gary and Business Ethics Competition to comple- Ed Ahnert, president of the Turkey and ment the business ethics curriculum. ExxonMobil Foundation. Rene to aid the JA alumni of Central Dahan, executive vice president and Eastern Europe.The gift of Exxon Mobil was a renewal grant, to be used and a JAI board member, said through September 2002.“New ExxonMobil views ethics as a democracies in Eastern Europe “vital ingredient of business” need skilled, knowledgeable, and and he believes the company’s democratic leaders,” said gift “will complement JAI’s oth- Zoltan Valcsicsak, community er high quality business and affairs manager with Levi entrepreneurship courses.” Strauss Europe, Middle East and Africa.“Future leaders need to be educated to successfully lead Canada and Japan their communities. I am happy JA Durham in we’re able to sponsor JA pro- Ontario, Cana- grams and in that way we can da hosted 18 help equip young people to lead Thanks in part to a grant from the Woodruff Foundation, JAI offi- educators crucial economic and social cially opened its world headquarters office in Atlanta, Georgia (USA) from Japan for change in their countries.” with a ribbon cutting ceremony on January 11, 2002. Supporters of one week last JAI and JA Georgia were on hand to welcome the new partnership. fall. JA officials

Citigroup spreads generosity continued from page 1 BIA to York and Toronto, Canada feature several hands-on activi- and as far south as Argentina. ties to make the topic more fun research and development to Romania, too, is using BIA. And in Latin America, Citigroup for students and teachers. lower the cost of operations Mr. Zdenek Turek, country cor- has sponsored a BIA regional In Spain, Citigroup helped One city using BIA is Kiev, porate officer for Citibank competition since 1998. In all, start “Learning to Take the Ini- Ukraine. Mr.Witold Zielinski, Romania SA, said hundreds of Citigroup has funded BIA in 24 tiative” to show 13-to-16-year- president and CEO of students there are learning countries to reach more than old students at risk of quitting Citibank Ukraine, called JAI an more about banking and the 100,000 students. school in Madrid how impor- “important partner” around free enterprise system.“Citi- In Japan, Citigroup invested tant education is. Francesco the world for Citigroup. group knows the good job that money that allowed JA Japan to Vanni d´Archirafi, chairman and “Financial education is one of JA does here and we have sup- strike up a new alliance with CEO of Citibank International the key priorities for the Bank ported their programs for the National Council on Eco- Plc., praised the program. and the Foundation, and Junior three years with both financial nomic Education, a U.S. based “This project is providing Achievement programs help contributions and volunteers,” organization that teaches edu- students with tools that will us deliver economic and finan- said Mr.Turek. cators how to teach econom- help them achieve their per- cial education to young peo- In the Americas, both North ics.The partnership will lead to sonal and professional goals,” a new economics book that will ple,” said Mr. Zielinski. and South, Citigroup has brought continued on page 3 Chairman’s Report upporting JAI today is not just a question of when, onic programs we have established over the past sev- Show or why. It’s also a question of where. eral years. JAI is a global enterprise and one of the key roles To accomplish that takes training, consultants, mate- we play is linking companies’ interests with opportuni- rials, etc. These all take support from businesses and ties in 112 countries around the world. individuals who know that such an investment in peo- Citigroup is a global operation that now actively ple and the community pays back multiple times over. supports JA programs in numerous countries. They Companies such as BP Amoco, ExxonMobil,Ameri- are a smart, generous, global company and recognize can Express, Barclay’s Bank, Bata Shoes, JP Morgan- that these commitments in free enterprise education Chase, Procter and Gamble, General Electric and NTT- Mark Suwyn and experiences are great investments that are impor- East join Citigroup in supporting the growth of JA pro- Chairman & CEO, tant everywhere. Read all about their efforts on the grams in multiple countries. Louisiana-Pacific front page and you can see how they think and act We at JAI are anxious to work with more global Corporation internationally. companies to find those countries where such an Chairman, There are many places for us to plant the seeds investment makes the most sense for a company or Junior Achievement of hope that stem from experiencing free enterprise for you personally. International via JA programs. We have set a goal to reach 10 mil- So I encourage you to look at your operations, at lion students annually outside the US by 2005. To do your areas of particular interest and ask the key this we have to accelerate the growth of the embry- investment question – Where?

The Mission of Junior Achieve- ment International is to recog- Marmon Group Global Trade Institute announced nize and serve Member Nations that develop and implement ore than 100 stu- which includes workshops, competitions, lectures economic education programs dents from around and corporate tours, is designed to let students for young people through a the world will unite from around the world network and broaden partnership between business M in Chicago, IL USA on June their knowledge in topics such as entrepreneur- and education. The programs are implemented by Member 19-26 at the Illinois Institute ship, international business, business ethics and Nations to help young people of Technology for the 2002 management practices. Each Member Nation is gain an understanding of: Marmon Group Global invited to select an outstanding JA student to the importance of market- Trade Institute. This high attend. Email: [email protected] for more details. driven economies; impact student conference, the role of business in a global economy; the commitment of busi- Welcome to New Board Members ness to environmental and social issues; JAI welcomes six new members to its board of Bernard Dulal-Whiteway, CEO, Neal & Massy the commitment of business to operate in an ethical directors.They are: Holdings Ltd. (Trinidad & Tobago) manner; Michael Bianco, CEO & Director, American Capital Marguerite Goodman Greenfield, Partner, Green- the relevance of education Markets Corp. field & Goodman, LLC in the workplace; and, Alejandro Luis Bottan, Regional Executive-Argentina, Claire Martin, CFO, Monster.com the impact of economics on Paraguay, Uruguay, GE South America Area Opera- their future.” Kenneth Staffin, Chairman and CEO, Procedyne tions (Argentina) Corporation

Citigroup spreads generosity Why does Citigroup do it? continued from page 2 Through our partnership with Junior Achieve- ment, we bring the world of business and finance to said Mr.Vanni d’Archirafi.“We are fully committed students around the world as we strengthen our 460 Abernathy Rd. NE to supporting the development of the younger gen- commitment to educating the next generation of Atlanta, GA eration in the areas where we are present, helping business leaders and developing consumers who can 30328-2506 USA them to create wealth in their community and bet- make informed financial choices,” said Charles V. n ter manage their future.” Tel:(404) 257-4620 Raymond, President of the Citigroup Foundation.” n Citigroup employees will also serve as volunteer Our employees also enjoy participating in JA pro- teachers in the new program. FAX: (404) 257-4621 grams and are eager to share their expertise as they n Citigroup helped start JA programs where they help students gain a better understanding of finan- E-MAIL simply didn’t exist before in countries such as Kenya, cial institutions, business and the global economy.” [email protected] Colombia, Nigeria, Spain and Turkey. All benefit from Paul Ostergard, JAI’s president and CEO, said, n JA programs because of Citigroup’s generosity, and “Citigroup knows the good that JA does around Web Site the money is making a real difference in those coun- the world and they prove it regularly with their www.jaintl.org tries. In Kenya, for example, JA reached more than financial and volunteer support, we’re grateful for 25,000 students during the last two years. their alliance.” Country Profile Zimbabwe Year Founded: 1998 Population: 12.6 million JAIJAI Member Member NationNation Percent of Population Less Number of Than 15 Years of Age: 45% Students Served: Number of Board Members: 13 7,000 per year ZimbabweZimbabwe Staff Members: 4 Annual Budget: US $186,500 “At first I thought it was difficult for a person JAZ became a like myself to start my own business.After JAI Member Nation in Language Spoken: English, Shona, this course, I opened my eyes and now I can late 1998 and by Janu- Sindebele start my own business.This program is very ary, with a matching grant Executive Director: Maggie Magadza important to young people like me who are from Procter and Gamble of US$10,000, it Programs Offered in 2002: JA unemployed and have a family to look after.” began reaching 510 students in 17 schools. Company Program, Business Basics, A young AIDS orphan, aged 16 who pro- Today, just three years later, JAZ teaches Success Skills, Enterprise in Action, vides for 3 young brothers and sisters more than 7,000 young people. HPGBC and MGGTI. And JAZ leaders are motivated to keep imbabwe—like any country—has its that growth trend going. share of problems. But with the help “We believe that Zimbabwe has the Z of JA, it’s meeting them head on with potential of a great future and a large part tion funded an extensive in-school and innovation, resilience, and as you can see of that potential lies in encouraging and out-of-school youth program that will help from the quote above, results. actively assisting entrepreneur develop- over 10,000 young people. One of the problems is unemployment. ment and supporting and being actively To complement the rural program, this Each year in Zimbabwe more than 400,000 involved with organizations like JAZ,” said year JAZ will partner with USAID on The young people quit school which has caused Tom Walter with Mobil Oil Zimbabwe. LEAD Project funded to foster links unemployment to soar above 60 percent— Nigel Chanakira, CEO of Kingdom between mainstream industry and rural most of that 60 percent are under the age Financial Holdings and one of Zimbabwe’s micro-producers.The project will also of 24. But Zimbabwe also enjoys a high lit- most successful entrepreneurs, said private include helping JAZ students set up small eracy rate – one of the highest in Africa. sector partnering with JA is a “wise invest- businesses. Plus the country has diverse and rich nat- ment for the future if we want to be sure Maggie Magadza, JAZ’s executive direc- ural resources in agriculture, mining and that we will still be trading tomorrow.” tor, said entrepreneurial opportunities tourism, and a reasonably sound infrastruc- David Birch, JAZ Board Chairman & exist in all parts of Zimbabwe, even in rela- ture. It’s also geographically well positioned MD of Aon Zimbabwe, agrees with Mr. tively arid regions without strong agricul- as a transportation hub for the region. Chanakira. tural potential. But, she said, because of a These are some of the reasons JA fits “JAZ has never been more crucial to lack of exposure to business concepts in so well in that region, according to Bengt the future success of private enterprise in rural communities,“these opportunities Post, a JAZ board member who’s the man- Zimbabwe. Our future business people are are not exploited, or if they are, it is in a aging director of the International Capital the youth in our schools today, and our sub-optimal limited manner.” Corporation. ability to help orient them to become suc- “If we can optimize these opportunities, “JA is especially relevant in Zimbabwe cessful entrepreneurs is an opportunity then rural household incomes will greatly where there are very few job opportuni- that today’s business sector cannot afford increase in a self-sustaining way,” said Ms. ties for those who leave school,” said Mr. to ignore,” says Mr. Birch. Magadza.“These enterprises will in turn Post.“Equipping these children with entre- JAZ is exercising its flexibility to meet generate demand for additional enterpris- preneurial tools gives them a greater sense the country’s unique needs.About 65 per- es, and in this way a catalyst for rural- of control over their destinies and increas- cent of Zimbabwe’s population lives in rur- based economic development will be es their opportunities to earn an income.” al areas. So last year,WK Kellogg Founda- established.”

On Board A Profile of Junior Achievement International Board Members

eggy Goodman Greenfield believes in JAI and all Dickinson School of Law, Cornell University and Brook- that it does for young people. Why? Because she lyn College. She also studied a summer at Oxford Uni- P believes JAI not only helps improve the lives of versity in Oxford, England. young people who participate in its programs, but also Paul M. Ostergard, JAI’s president and CEO, says, the lives of others as well. “Peggy is a phenomenal addition to our board. Besides “The work Junior Achievement International does legal knowledge and experience, she brings a wealth of sends ripples through communities,” she says.“When educational expertise. She has taught communications Marguerite (Peggy) you help students help themselves that begins to on a variety of levels: high school and also on the facul- Goodman spread throughout towns and cites and nations. I’m ties of both Wesleyan and Cornell Universities.” Greenfield eager to begin helping Junior Achievement. I have always Ms. Greenfield says she would like to help JAI grow, Senior Partner respected and believed strongly in the work it does to particularly in less developed areas of the world.“I make people’s lives better.” think by expanding our programs in the lesser devel- Greenfield & A senior partner with Greenfield & Goodman, LLC, oped countries we can help raise the standard of living Goodman, LLC in Paoli, Pennsylvania, Ms. Greenfield specializes in com- which in turn nurtures the development of human and plex commercial litigation. She holds degrees from the political rights, health and world peace.”