Safaricom and Equity Bank announced, on April 29, 2019, their partnership to boost financial inclusion in Kenya.  

The two firms plan to create financial products that are more inclusive, examine regional synergies, simplify the fund transfers between their agents and share technical expertise to set a common approach for the fight against various risks including cybersecurity.

For Bob Collymore, CEO of Safaricom, the partnership with Equity Bank falls within the framework of the operator’s ambitions in terms of consumer satisfaction.

“At Safaricom, we are continuously driven to explore new ways to provide our customers with the best possible experience on our network. 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,” he said.

Following his lead, James Mwangi, chief executive officer of Equity Group Holdings, indicates that the two partners 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. 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. We strive to respond to our customers’ emerging needs, aspirations and preferences. 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.”