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Finserve Africa Ltd

Country

  • Product Type: Credit
  • Sector: Finance Oriented
  • Project Country: Kenya

Finserve Africa Ltd

Finserve Africa Ltd
Finserve Africa Ltd

Providing mobile banking services in Kenya.

Finserve Africa Limited trades as Equitel, a mobile virtual network operator in Kenya. It is a wholly owned subsidiary of Equity Group Holdings Limited and uses the Airtel network as its carrier. Equitel  provides an alternative way for Equity Bank customers to engage with their bank accounts, as well as provides mobile money services such as savings, loans and transactions. Through additional menus, customers can access informative content such as information on maternal health (“MAMA”), financial literacy and tips on agriculture, environment and energy.

Project Description

The project is essentially to expand the usage of Equitel through:

  1. subsidizing the cost of ThinSIM and DualSIM phones therefore reducing the acquisition cost barrier for low income people
  2. further developing the product and related services
  3. design and delivery of training on how to use Equitel for potential customers
  4. design and delivery of the financial literacy content
  5. staff training

Key Areas of Scale

FRP support will essentially expand Equitel’s existing activities.