Kenya's Equity Bank, Safaricom Team Up to Expand Digital Financial Businesses

Kenya's Equity Bank, Safaricom Team Up to Expand Digital Financial Businesses Image Credit: singkham/Bigstockphoto.com

Equity Group, the second largest banking group in Kenya and Safaricom announced plans to expand their digital financial businesses.

Specifically, the collaboration will see both companies work together to identify and deepen financial opportunities for Kenyans. Despite years of commendable progress, the majority of Kenyans continue to lack access to essential financial services, said Equity Group. Both Equity and Safaricom have built their operations around the belief that technology and innovation can spur growth and create new opportunities for growth in areas like mobile financial services.

The collaboration will also see both parties enter into mutually beneficial agreements to maximize the ability of more people to benefit from inclusive, tech-driven financial services. Equity and Safaricom have grown thanks to strong partnerships with dynamic entrepreneurs such as their dealer and agent networks. This alliance will enhance and streamline dealer financing for such groups. 

Bob Collymore, CEO, Safaricom
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.

Dr. James Mwangi, CEO, Equity Group
Our ambition is to be the region’s leading bank, and we continuously harness the power of technology to create opportunities to transform how people access and consume financial services. 

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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