Safaricom and Equity Bank have joined forces to boost financial inclusion in Kenya through more inclusive and simplified fund transfers between their agents. The partnership also aims to share a technical expertise to build a common approach to risks such as fraud and cybersecurity.
Bob Collymore, CEO, Safaricom, said, “As we continue on our journey to become a more widely accessible digital platform, symbiotic partnerships like this one will unlock new opportunities for our entire ecosystem to benefit from enriched innovation – all based on a socially conscious business model.”
Both companies believe that technology and innovation can generate new growth opportunities, especially in fields like mobile financial services. This collaboration can contribute to increasing Kenyans’ access to essential financial services.
Dr. James Mwangi, chief executive officer, Equity Group Holdings, added, “We will harvest, channel and transmit the benefits of the robust macro-economic growth characterized by national infrastructure investments into advantages and opportunities for the ordinary Kenyans especially those in real economy, agriculture, micro, small and medium businesses and enterprises.”