Kenneth Randall

Atlanta, GA (USA)
Role(s):
Founder/Owner/Principal

Affluent Assets

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Location: Atlanta
Industry: Telecommunications
Year Founded: 2006
Number Employees: 1-10 people
Description: Affluent Assets, LLC is a global investment company focused on establishing solid businesses in areas/niche markets that are open for expansion. We have currently focused our energy solely on the wireless industry. Initially pre-paid service will be the focal target point, with the plans of further product/service expansion. Currently the major means of communication in Nigeria is based on GSM technology through these pre-paid services. How it works: The end user purchases pre-paid airtime for their mobile devices ranging from different denominations. Ehimen Inegbedion, co-owner of Affluent Assets was in Nigeria from February 2007 until late May 2007. He was able to witness first handed the potential of the industry while working under one of the biggest pre-paid card distributors in Abuja (Africa's fastest growing city and federal capital). It was there he gained much needed knowledge of the economy, as well as the industry itself. Basically we would like to focus on the production of these pre-paid cards for select reasons: 1. The growth rate is continuing to increase every year. 2. Companies are scrambling to increase the number of cell towers in the area to accommodate the rapid growth. In early May 2007, a satellite was placed into orbit to help the providers with an increase in coverage. 3. The telecommunication industry in Nigeria is merely 6 years old at this moment, and we see what type of an impact the communication industry has made in the U.S. 4. It has a population of almost 150,000,000 people. Of that number and out of all the combined users in Nigeria, only 35,000,000 people have access to these cellular devices. Nigeria is the most populous country in all of Africa. 5. Nigeria is the fastest growing country in Africa and is poised to lead the way for development throughout Africa. 6. Finally, it’s a prime way to enter this type of market with low costs. It will give us the ability to use our knowledge and timing to set a solid foundation for future market growth.