Equity and Safaricom have signed a business pact that aims to see both parties collaborate on delivering critical services using an innovative combination of technology and finance. Projects likely to be rolled out will revolve around financial products, regional synergies, money transaction among other partnerships like sharing technical knowledge and innovating technological hacks to risks such as fraud and cyber-security.
Specifically, the collaboration will see those in the real economy, agriculture, micro, small and medium businesses, and enterprises benefit the most. This is because, despite years of commendable progress, the majority of Kenyans continue to lack access to essential financial services. According to the two corporate giants, the symbiotic partnership will unlock new opportunities for the ecosystem to benefit from enriched innovation, all based on a socially conscious business model.
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 consumer financial services. We strive to respond to our customers’ emerging needs, aspirations and preferences.
As demand for these services evolves 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.
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.
Despite both telecommunication and banking giants having several fallouts in the past, the partnership will facilitate more knowledge transfer opportunities between the two organizations, allowing technical staff to build their skills and enhance understanding of emerging risks such as fraud and cyber-security.