Econet Wireless is set to change the financial services sector. The company has announced that it is ready to rollout an advanced network providing money transfer services, mobile banking and roaming services.
Econet Wireless Kenya has partnered with Obopay, a mobile payment service provide based in the US to allow its subscribers transfer money across the network.
The company’s Managing Director Michael Forey is quoted by the East Africa Standard saying, “We are sparing no effort or resource to ensure the rollout of one of the most technically advanced GSM mobile networks in this part of the world,” said Forey.
The company, which plans to invest significantly in the next two years with rollout services in the second half of November.
Econet has also partnered with Belgacom of Belgium to set up a roaming network.
The move to deploy money transfer service sets the stage for stiff competition in the control of the lucrative service dominated by Safaricom’s M-Pesa and Zain’s Sokotele.
By ITnewsAfrica.com Reporter
