My good friend Massimo Young recently moved to Kenya, where he is seeing what happens when you mix a little American ingenuity into a thriving but chaotic developing economy. In what I hope is the first of many blog posts, Massimo reports on just what it takes to succeed in the banking industry in Kenya. (Massimo does not have a financial interest in any of the companies discussed in his post, although he wishes he did!)
M-PESA: The Story of the Most Successful Bank in Kenya
By Massimo Young
It’s not easy to do business in Kenya. Business people complain all the time that despite a wealth of opportunities, there are often major roadblocks to accomplishing much on the ground, especially at scale. In fact, Kenya ranks 121st out of 185 countries in the World Bank’s “Ease of Doing Business” survey.
On the other hand, there are some amazing examples in recent years of businesses that have managed to accomplish a lot very quickly. In particular, the wild success of mobile banking in Kenya has changed the way people use money here. Launched just 5 years ago, Kenya’s leading mobile money transfer service, M-PESA, now processes a total of about $5 billion in transactions per year, equivalent to an astounding 15% of the country’s GDP. Before it launched, only 14% of Kenyans participated in the formal banking sector. Today, about half the adult population uses M-PESA. Read More »
Research in Motion, the Waterloo, Ontario, company that makes BlackBerrys, has been hemorrhaging market share in North America. But a blog reader named Jon Markman, a lawyer living in Washington, D.C., has discovered a land where the BlackBerry still dominates:
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I wanted to send along an interesting thing I noticed on a recent trip to the Dominican Republic to visit my in-laws.
In the past when I’ve been there, I’ve noticed that everyone uses a BlackBerry; my wife and I were the only people I’d ever seen using anything else (other than a “dumb” phone, but those are pretty rare these days everywhere!). I figured it was only a matter of time; trends and technology seem to often lag a little when making it to the island. Given that BlackBerry has fading for years, I thought, soon it would fade there, too.
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If you did an analysis on your listenership, I’m pretty sure you’d find, in common with most podcasts, that consumers of audio are more likely than not mobile. Old time radio’s image of the rocking chair next to a wireless the size of a substantial piece of furniture is outdated. With podcasts especially, people are more likely to strap on their choice of pod, and listen whilst jogging, StairMastering, cycling, commuting –- it’s a very mobile listenership.
Most podcasters realised this, and when talking travel, transport or cars in particular do not use the hackneyed, clichéed, passé and superfluous sound of a car horn. For the reason that it is unmuffled by earbuds or car windows, it comes directly into the ear and announces forcibly that you are jogging or cycling into danger.