Comments on: Reaching the Long Tail of Banking in Kenya

By: HASH

HASH — Wed, 28 Mar 2007 12:26:53 +0000

Interesting that you bring up Majic Johnson. I remember watching a special on the types of businesses he’s setting up within the inner city areas of large metro areas. Basically, areas that are forgotten and given up on, but that he turns profitable.

By: beninmwangi

beninmwangi — Wed, 28 Mar 2007 05:09:15 +0000

Great post, Hash. I agree with KE, your analysis was insightful. The long tail that you described, I would guess, is synonymous with the “base of the pyramid” concept. It’s catching on really big with the large corpoartions.

One day, perhaps a few months ago, I was watching a TV news magazine and a US fortune 500 company’s CEO was being interviewed by a journalist. When the journalist asked this CEO where the next business frontier is most likely to be found, the CEO began talking about the base of the pyramid. The rational was that the fortunes have already been made in mid and upper-end markets, the only one left is the base of the pyramid market.

From day one this has been the strategy of one of America’s well known entrpreneurs-Majic Johnson. This strategy is likely to propel him into the billionaire status within a few years, so it is definitely something for business people to think about…

By: KE

KE — Tue, 27 Mar 2007 16:52:34 +0000

Very interesting analysis. I’ve been examining this concept of the “long tail” myself (still trying to figure out how to implement it practically) –anyway, this equity bank is really something. I think one key you forgot to mention is honesty. When it comes to banking or just any business in Kenya, if people know that you are HONEST and that you will not steal or misuse their money, you will win in the end. I’m just surprised that more businesses haven’t realized how important it is to conduct one’s business with honesty and integrity.