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A new venture by Telkom!

17 Sep

According to a recent article on mobile money transfers by Bloomberg, Kenya which is home of the wildly successful M-Pesa, is set to get a new mobile money service  run by a joint venture company owned by the country’s government and France Telecom  by the end of the year.

Mobile-phone operators in East Africa’s biggest economy are diversifying into banking products to fill a gap in a country where four out of every five people don’t have a bank account. Penetration of mobile phones in Kenya is about 51 percent in a population of 38.6 million, according to the Communications Commission of Kenya.Telkom Kenya will also compete with the country’s second- biggest mobile-phone operator Zain whose money-transfer service is called Zap.Zain entered the market with Zap, allowing customers to use their mobiles to pay bills and for goods and services, make peer-to-peer payments, manage bank accounts, withdraw cash and top-up and transfer airtime to others.

Now, the government and France Telecom joint venture, Telkom Kenya, is making a move with Orange Money. The firm has partnered with a local bank on the service that will enable users to send money from abroad, carry out electronic banking, and pay for goods and services online, as well as transfer funds locally.Orange Money aims to offer a brilliant service which surpasses all its rivals!!!


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