• Latest
  • All
  • How To
Equitel to Introduce Medical Insurance Product Tied to Mobile Subscribers’ Consumption Habits

Equity Bank’s Equitel to Expand outside Kenya into the Regional Market

July 5, 2016
Why Can'y You Register a Safaricom SIM Card After 7 PM

Why You Cannot Register a Safaricom SIM Card After 7 PM

July 10, 2025
Former Safaricom Chief Enterprise Business Officer, Cynthia Karuri-Kropac

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025
AI

OpenAI and Perplexity Launch Browsers to Rival Google Chrome

July 10, 2025
Vivo-Y29-4G

Vivo Y29 Launches in Kenya at KES 23,999

July 10, 2025
DHgate Tablet Cases deals
galaxy z fold7-galaxy z flip7-samsung

Samsung Unveils Galaxy Z Fold7 and Z Flip7 with Bigger Screens

July 10, 2025
GTA VI

Rockstar May Be Testing 96-Player Servers for GTA 6

July 10, 2025
Former X CEO, Linda Yaccarino

Linda Yaccarino Steps Down as CEO of X After Two Years

July 9, 2025
Apple-WWDC25-iOS-26

iPhone Users Are Not Too Happy With the iOS 26 Liquid Glass Design

July 9, 2025
Official document handover by Bernard Mwonyonyo and Habib Lukaya from Roam.

E-Mobility in Kenya Gets a Lift with New Bike Financing Program

July 9, 2025
Samsung

This Samsung Security Update Could Change How You Use Your Phone

July 9, 2025
tecno ultimate g fold concept

TECNO Joins Tri-Fold Race With Ultimate G Fold Concept Phone

July 10, 2025
Microsoft Edge browser

Microsoft Makes Edge 40% Faster in a Bid to Lure Chrome Users

July 8, 2025
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
No Result
View All Result

Equity Bank’s Equitel to Expand outside Kenya into the Regional Market

Eric Wainaina by Eric Wainaina
July 5, 2016
in News
Reading Time: 2 mins read
256
0

EQUITEL

In 2015, Equity Bank’s  Finserve Africa limited launched a Mobile Virtual Network Operator called Equitel. An MVNO refers to a mobile carrier that leases infrastructure from existing telcos and launches its operations riding on the telcos network. In the case of Finserve,  Airtel Kenya was chosen for Equitel.  Equity Bank planned to use Equitel as a tool to foster convergence between mobile money and banking. To this effect, the bank issues its customers with SIM cards taking advantage of Kenya’s large mobile penetration which allowed the bank to scale its service faster.

According to the latest report by the Communications Authority of Kenya, Equitel has managed to amass a market share of 4.4% with 1.6 Million subscribers. During the release of the Bank’s Q1 2016 results the bank attributed Equitel to the growth of its loan books to Kshs. 272 Billion. The Bank issued a total of 3.4 Million loans to customer with 2.8 Million of these loans or 81% of total loans via Equitel. Equitel further saw a 315% quarter on quarter rise in transaction volumes to 45.6 Million from 11 Million in Q1 2015. The value of these transaction rose 562% to 62 Billion from 9.4 Billion in Q1 2015. The average loans issued via the platform stood at 42,000 up from 7,000 with the average repayment period at 4 Months.

In an interview with Marcopolis, Equity Bank CEO James Mwangi said the bank was looking to expand the service within the region. The bank has partnered with mobile network operators in 6 countries where the bank has operations to allow for the launch of these services. This will see the bank launch the service in Uganda, Tanzania, Rwanda, South Sudan and the Democratic Republic of Congo.

“Mobile devices have become our delivery terminal of choice. Essentially what we have done is to replicate the success of Kenya in the 5 other countries that we operate in. We have formed partnerships with mobile network operators so that we can leverage on their infrastructure without having to incur the cost of infrastructure” – James Mwangi

Tags: Equity Bank
SendShare146Tweet92
Eric Wainaina

Eric Wainaina

Eric writes on business, govt policy and enterprise tech.

Related Posts

Equity bank and Mastercard Customer Business Agreement

Cross Border Payment: Equity Bank and Mastercard Join Forces

October 5, 2023
Central Bank of Kenya Kenya Quick Response(QR) Code Standard 2023

Kenya Launches QR Code Standard: What You Need to Know

May 3, 2023
Equity Bank to M-PESA, Airtel Money Charges for 2023

Equity Bank Introduces Mandatory Fee for SMS Alerts

April 26, 2023
Equity Bank to M-PESA, Airtel Money Charges for 2023

Equity Bank to M-PESA, Airtel Money Charges for 2023

February 16, 2023
You Can Now Link Paypal to Equity Online and Equity Mobile App

You Can Now Link Paypal to Equity Online and Equity Mobile App

December 23, 2022
Equity Bank Picks New COO from Uganda Arm

Equity Bank Picks New COO from Uganda Arm

November 21, 2022

Latest

Why Can'y You Register a Safaricom SIM Card After 7 PM

Why You Cannot Register a Safaricom SIM Card After 7 PM

July 10, 2025
Former Safaricom Chief Enterprise Business Officer, Cynthia Karuri-Kropac

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025
AI

OpenAI and Perplexity Launch Browsers to Rival Google Chrome

July 10, 2025
Vivo-Y29-4G

Vivo Y29 Launches in Kenya at KES 23,999

July 10, 2025
galaxy z fold7-galaxy z flip7-samsung

Samsung Unveils Galaxy Z Fold7 and Z Flip7 with Bigger Screens

July 10, 2025
GTA VI

Rockstar May Be Testing 96-Player Servers for GTA 6

July 10, 2025

Best devices

budget smartwatches 2025

Best Budget Smartwatches To Buy in Kenya 2025

February 13, 2025

Best Infinix Smartphones To Buy in Kenya 2024

February 13, 2025

Best Laptops for Battery Life in 2024

August 21, 2024

Best “Battery Warrior” Smartphones To Buy in 2024

August 22, 2024

Why You Cannot Register a Safaricom SIM Card After 7 PM

July 10, 2025

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025

Techweez is a fast growing influential source of technology news, reviews and analysis by leading tech geeks in the industry.

Follow Us

Editorials

Abductions and Arrests! Kenyan Government’s Fear and Hate of X Users Makes No Sense

Actors and Film Crews Are Worried About Veo 3 Taking Their Jobs

Samsung QLED TVs Now Officially Certified for Real Quantum Dot Technology

Trump’s Tariffs Will Be the End of Affordable Tech

5 Ways to Prep Your Tech for Resale

The Weaponization of PDFs: How Cybercriminals Are Exploiting a Trusted Format

More News

Linda Yaccarino Steps Down as CEO of X After Two Years

iPhone Users Are Not Too Happy With the iOS 26 Liquid Glass Design

E-Mobility in Kenya Gets a Lift with New Bike Financing Program

This Samsung Security Update Could Change How You Use Your Phone

TECNO Joins Tri-Fold Race With Ultimate G Fold Concept Phone

Microsoft Makes Edge 40% Faster in a Bid to Lure Chrome Users

  • Terms Of Use
  • Techweez Brand
  • Privacy & Policy
  • Contact Us

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!

Hey there! Just a heads-up: we're big fans of cookies - both the digital and edible kind! 🍪 We use our cookies and some from third parties to ensure your browsing experience on our site is smooth sailing and secure.

 

But wait, there's more! We also use cookies to gather stats and insights on how you navigate our site. It's like getting a behind-the-scenes peek at your digital adventures!

 

Don't worry, you're in control. You can adjust your cookie settings anytime to suit your preferences. Feeling curious? Dive into our Privacy Policy for all the juicy details. Happy browsing! 🚀

Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
No Result
View All Result
  • News
  • Reviews
  • Features
  • Editorial
  • Automotive
  • Entertainment

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.