Equity Bank has applied to the Communications Commission of Kenya (CCK) for a license to launch a mobile operator. The application is currently at early stages and will need to go through several stages before approval according to the CCK. Equity Bank is also in talks with Essar Telecom Kenya, Kenya’s third largest mobile operator by subscribers, to potentially share infrastructure with the telco in the proposed new mobile operator. Equity Bank is seeking to launch an independent mobile operator to more effectively tap the rising use of mobile money in Kenya beyond peer to peer transactions to more of payments for goods and services, deposits and lending. We believe that Equity Bank would focus on the mobile money business in the new mobile operator, while a potential partner would handle the mobile communication business. (Source; Daily Nation, Kestrel Research)

A Strive Masiyiwa move... (Econet Wireless + Steward Bank, ZW) #Nuffsed #Nikufyam

I don't think that's a wise decision, they could have just concentrated with banking.

I think it was only a matter of time. Either a Telco (read Safaricom) would apply for a banking license, or a bank would want a Telco license so as to have a finger in each pie across the mobile financial service delivery chain. Some will cry real tears in the process.

its good for them to try. They might get lucky and invent a hybrid of mpesa , phone and bank. Maybe they will push mpesa like transactions to online , from telephony.