Barclays Kenya signs up to Safaricom’s M-Pesa
Barclays Bank of
Kenya has entered a partnership with telecoms firm Safaricom offering
its mobile phone-based money transfer service M-Pesa to the bank’s
clients, both firms said on Wednesday.
M-Pesa is the main
way of transferring small cash amounts in Kenya, mainly because it does
not require users to have a bank account. Millions of people in east
Africa’s largest economy do not have access to banking services and the
deal is seen as a way of addressing this.
“This partnership is in tandem with our strategy of stretching
M-Pesa’s footprint beyond the regular agent outlet,” said Safaricom
Chief Executive Officer, Michael Joseph.
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