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09/07/2014

The looming battle between safaricom and equity bank.

Safaricom and Equity Bank are headed for an epic battle for the
control of the mobile money transfer platform. Currently, in addition
to generating billions of shillings for safaricom, Mpesa acts as a
loyalty tool, enabling safaricom to keep its subscribers within the
network. This may change as Equity Bank acquired a mobile virtual
network. What is problematic to Safaricom is that Equity Bank has a
massive spread across the country. It is thought that Equity Bank will
try to convert its 8 million account holders to the new network. In
partnering with airtel, Equity Bank will seek to bypass Mpesa, and
make Mpesa one of the many mobile transfer platforms, rather than the
only one. This could radically shift the face of telecoms industry in
Kenya. In a way, Safaricom took the war to Kenyan banks, and now the
banks are taking the war right to Safaricom's doorstep. It will be
interesting to watch who will emerge the victor in this unfolding
battle.

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