Equity Group and Safaricom have Monday announced plans to create a joint transformation agenda that aims to enable more Kenyans to access critical services using an innovative combination of technology and finance.

Through collaboration that will align their joint purpose to transform lives, Equity and Safaricom hope to build more inclusive financial products, explore regional synergies, simplify cash delivery between their agents and share technical knowledge to build a common approach to risks such as fraud and cyber-security.

β€œAt 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,” said Bob Collymore, CEO, Safaricom.

Benefits of the Partnership

Specifically, the collaboration will see both companies work together to identify and deepen financial opportunities for Kenyans. Despite years of commendable progress, the majority of Kenyans continue to lack access to essential financial services. Both Equity and Safaricom have built their operations around the belief that technology and innovation can spur growth and create new opportunities for growth in areas like mobile financial services.

The collaboration will also see both parties enter into mutually beneficial agreements to maximize the ability of more people to benefit from inclusive, tech-driven financial services. Equity and Safaricom have grown thanks to strong partnerships with dynamic entrepreneurs such as their dealer and agent networks. This alliance will enhance and streamline dealer financing for such groups.

Lastly, 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.

The partnership, which will initially focus on building bridges between the work of the two organizations, was formalized during a formal signing ceremony attended by the CEOs of both organizations on Monday

Courtesy of capitalfm.co.ke