Kenya: Equity Bank mobile money to save five million users by June 2015

cellphone_africaAccording to James Mwangi, CEO of Equity Group, Equitel, the virtual telecom group, specialized in mobile money, will have 5 million users by June 2015. This is the challenge that the company has set. The company said they had registered 450,000 consumers. Equity Group is confident that the justice will remove its temporary ban which is blocking the official launch of its mobile money transfer service.

The court decision to ban or allow Equitel to launch its mobile money service with the controversial thin SIM card is expected on the 22nd January, 2015. If it is found to be true, about the complains of Safaricom and several other parties about the thin SIM card used by Equitel presents many security risks for telecom subscribers, the MVNO will postpone its entry into the mobile money segment in Kenya, dominated by Safaricom.

James Mwangi, CEO of Equity Group, seems not at all to consider this scenario. He remains positive and said to the people that the company has already made the test of the service. He is promising that its mobile money will initiate free mobile money transfers and so will really make banking easy for everyone.

About Khalid Al Mouahidi 4433 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network