Kandu Global is a start-up international telecommunications, media, and technology company. Our mission is to become a world leader in, the global Africana media space; and a top competitor in the global telecommunications and technology sectors. We aim to create the bridge amongst many nations that make up one village.
We have a special challenge as a new small boutique company coming from an American perspective and attempting to facilitate news and electronic commerce/remittance via Kandu Global News (KGN), KanduPay, and KanduWire in a new global niche market. Our flagship company, KGN, is created in the vein of BBC, CNN, Al Jazeera, and AFP: an online global news network covering Africana developed, emerging and transitional economy markets.
According to the Financial Times, US megastore Walmart and UK supermarket Tesco found expansion into China tougher and slower than expected. Global companies – whether new or old entrants to Africa –face similar headwinds if they fail to adapt their marketing and advertising to the continent. An aspect of our organization that could be viewed as ‘problematic’ is creating a marketing campaign that will properly communicate synergy, provide cultural cohesion, and return commercial marketing and advertising revenue among a multi-national Africana market.
In comparison to KGN, when looking at companies such as Univision, Telemundo, or Al Jazeera their greatest means to overcome this potential problem are the common language and religion amongst those who subscribe to their services despite the differences of national origin and/or location. Therefore, the challenges at KGN are unique. However, if we can make our English broadcast the platinum standard of news, marketing, and advertising for this market, with real-time translation available in all languages, we may successfully overcome this challenge.
CNN and the BBC appeared to have stymied this challenge by being considered the global standard in their respective businesses. In public opinion, CNN has become more entertainment and sensational than it was ten years ago due to competition from other US national broadcasters such as Fox News. BBC covers the globe, has a reputation for being more balanced and accurate than its competitors, and readily has language translation available per just about every region of the planet.
How does a newcomer like KGN fit into the broadcasting landscape on a global scale while remaining true to its American-Africana- Asiatic-Europa style of reporting? How does KGN address the potential problematic aspect of communicating to a multi-national Africana market while facilitating the flow of news, information, entertainment, and electronic commerce?
KGN will need to incorporate a financial approach to converge these multinational Africana markets. With KGN we look to provide a liquid malleable marketing strategy that speaks the local languages and differentiating cultures of our market while enabling the market to continue with sending monies home to family, loved ones, and business via KanduWire remittance services at flat fees. With KanduPay, we look to provide this market with a technology that allows people to purchase goods with their wireless devices from all over world in coordination with our unique software and relationships with banking institutions and telecoms from across the globe. We will also feature music and video applications for wireless devices that allow our users to fully engage in their own unique individual cultural, economic, and consumer experience. When we make it easier and more attractive for our market to engage financially, we make the market much more receptive to engaging with one another culturally, academically, scientifically, and romantically. The current environment in the United States has left a vacuum for KanduWire to not only facilitate this niche market but the remittance market as a whole.
According to the New York Times, JPMorgan Chase and Bank of America have scrapped low-cost services that allowed Mexican immigrants to send money to their families across the border. The Spanish bank BBVA is reportedly exploring the sale of its unit that wires money to Mexico and across Latin America. Also, in perhaps the deepest retrenchment by a bank, Citigroup’s Banamex USA unit has now closed many of its branches in Texas, California and Arizona that catered to Mexicans living in the United States and stopped most remittances to Mexico as it faces a federal investigation related to money laundering controls.
The report from the New York Times goes on to explain that Merchants Bank of California is one of the only banks that will still provide remittance services, yet as regulatory scrutiny is tightened, it may drop this banking service as well. Money transfer companies in cities with large Somali populations that have utilized Merchants Bank of California may no longer be able to serve this population. In Somalia, like many emerging market economies, remittances are a major income source, and losing remittance income could be devastating. Money transfer companies serving the Somali population are now searching for alternatives as Merchants Bank of California and other banks increasingly decide to leave the remittance business behind.
Due to the vacuum and cancellation of services initially provided by these institutions above, KanduWire with the proper anti-money laundering security systems in place, has a very unique opportunity to capitalize on the global remittance market while simultaneously provides news via KGN, and a means to pay via KanduPay.
The advantages of this strategy are a three-pronged implementation of culture, commerce, and cash via a security enabled one-stop lifestyle shop catering to a niche market. Not only will we follow the money, as described in strategy 1, but by taking advantage of an essential missing service that will benefit the diverse Africana communities, we will unite our market and draw them toward KGN and our other services. The challenges of this strategy are making certain our security systems, compliance exchange procedures and encryption systems are at the forefront of technology, withstanding regulatory scrutiny, and setting the trends of the future of these services across the globe.