Kenya’s Equity Bank Allowed to deploy is Mobile Virtual Network Operator (MVNO) services
Financial provider, Equity Bank has been allowed to deploy its mobile phone banking and cash transfer service over a one-year trial period. Reports CNBC Africa
Equity Bank has been allowed to deploy its mobile phone banking and cash transfer service over a one-year trial period. PHOTO: Getty Images
After much deliberation the Communications Authority of Kenya (CAK) gave the lender, which is Kenya’s largest financial institution by customer base, the green light to roll out its SIM card technology in order to roll out its Mobile Virtual Network Operator (MVNO) services.
This is despite, the country’s largest telecommunication network, Safaricom, arguing that the SIM card poses countless security threats and should be subjected to independent audits.
(READ MORE: Kenya's Equity