As the adage goes, two heads are better than one. In principle, this has been the case for businesses, which is what lender Equity and telco Safaricom are doing today as the two corporations have announced a plan to create a joint transformation agenda that will ensure that more Kenyans have access to key services and products via an innovative approach that will take advanatge of a finance and technology blend.
The collaboration is not a surprise because the two companies have previously played a significant role in shaping the technology and financial services platforms. Equity and Safaricom are also known for their collaborative approach and creating partnerships in the Kenyan community.
This development, which was formalized at a ceremony attended by Safaricom and Equity CEOs Bob Collymore and James Mwangi, respectively, looks forward to aligning the institutions’ joint purpose to transform lives by building inclusive financial products and simplify cash deliveries between their agents and share technical knowledge to build a collaborative approach to thwart issues such as cyber security and online fraud.
“At Safaricom, we are continuously driven to explore new ways to provide our customers with the best possible experience on our network. As we continue on our journey to become a more widely accessible digital platform, symbiotic partnerships like this one will unlock new opportunities for our entire ecosystem to benefit from enriched innovation – all based on a socially conscious business model,” says Bob Collymore, CEO, Safaricom.
“Equity’s purpose is to transform lives and livelihoods of our people socially and economically by availing them modern inclusive financial services that maximise their opportunities. We continuously champion, collaborate and partner to bring this purpose to life. We will harvest, channel and transmit the benefits of the robust macro-economic growth characterized by national infrastructure investments into advantages and opportunities for the ordinary Kenyans especially those in real economy, agriculture, micro, small and medium businesses and enterprises,” says James Mwangi, CEO, Equity Group Holdings.
In particular, Equity and Safaricom say that they will identify and deepen financial opportunities for Kenyans owing to fact that the lion’s share of Kenyans do not have access to key financial services.
“As technologies continue to evolve, the partnership will facilitate more knowledge transfer opportunities between the two organizations, allowing technical staff to build their skills and enhance understanding of emerging risks such as fraud and cyber-security,” reads a statement from the organizations.