At the end of July this year, the Communications Authority of Kenya (CAK) allowed Equity Bank, Kenya’s second largest bank by assets, to launch a new mobile banking product in partnership with Indian telecoms firm Bharti Airtel, which operates in Kenya. Equity Bank will be able to offer customers a sim card tied to Bharti Airtel and from which they will be able to access a range of banking services, including making requests for loans.
“Plans are at an advanced stage,” says Adil El Youseffi, Airtel Kenya’s chief executive. “The bank is currently testing the services with its staff, with an expected launch to its customers this year.
