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.
The project is essentially to expand the usage of Equitel through:
subsidizing the cost of ThinSIM and DualSIM phones therefore reducing the acquisition cost barrier for low income people
further developing the product and related services
design and delivery of training on how to use Equitel for potential customers
design and delivery of the financial literacy content
Key Areas of Scale
FRP support will essentially expand Equitel’s existing activities.