Equity braces for mobile money war starting May

LARGEST lender by deposit accounts, Equity Bank, hinted yesterday it could be closing in on a partnership deal with a mobile phone manufacturer as it prepares to venture into telecoms business mid next month. CEO James Mwangi said the bank, through its subsidiary Finserve Africa, was in final stages of the big launch expected to tilt the stakes in the growing Sh2 trillion mobile money industry. Mwangi was however guarded on the specific services to be offered through the Mobile Virtual Network Operator licence it received from the Communications Authority of Kenya last Fri- day. “You come mid...