Published On: Tue, Apr 30th, 2019

Landmark finance technology deal signed in Kenya

On left is Mr Bob Collymore, Chief Executive Officer of Safaricom, and Dr James  Mwangi, CEO, Equity Group Holdings. Photo, Maria Macharia, CAJ News Kenya Bureau

On left is Mr Bob Collymore, Chief Executive Officer of Safaricom, and Dr James Mwangi, CEO, Equity Group Holdings. Photo, Maria Macharia, CAJ News Kenya Bureau

from MARIA MACHARIA in Nairobi, Kenya
NAIROBI – MILLIONS of Kenyans now have access to critical services using an innovative combination of technology and finance.

This follows the creation of a joint transformation agenda by financial services firm, Equity Group Holdings, and Safaricom, the mobile operator.

Through collaboration that will align their joint purpose to transform lives, the two companies hope to build more inclusive financial products, explore regional synergies, simplify cash delivery between their agents and share technical knowledge to build a common approach to risks such as fraud and cyber-security.

“At Safaricom, we are continuously driven to explore new ways to provide our customers with the best possible experience on our network,” said Bob Collymore, Chief Executive Officer of 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.”

The partnership between Equity and Safaricom, which will initially focus on building bridges between the work of the two organisations, was formalised during a formal signing ceremony attended by the CEOs of both organizations on Monday.

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.

“As demand for these services evolve in tandem with the changing lifestyles, we are positioning ourselves to create new bridges of opportunity for Kenyans by combining the empowering nature of access to credit with the reach and transparency of technology,” said Dr James Mwangi, CEO, Equity Group Holdings.

– CAJ News

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