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Safaricom adds Ecobank to M-pesa service

November 5, 2010 • Mobile and Telecoms, Top Stories

SAFARICOM has added Ecobank into the growing number of financial institutions that are linked to M-Pesa services, giving opportunity to its clients to access electronic float and make cash withdrawals.

This is after the bank embarked on the provision of M-Pesa Super Agency services, which is in line with its strategy of offering its customers easier access to mobile money transfer services.

In a press statement Ecobank’s managing director Tony Okpanachi said: “With our 19 branches spread across the country, we believe that M-Pesa agents will also be served efficiently by our dedicated staff, who will also assist other M-Pesa users where need be.”

Additionally, the bank has introduced M-Pesa bulk payment services, where corporate and institutional customers can pay their employees through the service.

This will reduce the workload of processing workers’ salaries, while offering the employee easy and quick access to their salaries, Okpanachi said.

With the venture which makes Ecobank the 9th bank to offer this service, he added that they were determined to play a role in reaching out to the millions of financially excluded Kenyans across the country.

Ecobank Kenya recently introduced Rapid Transfer – a money transfer service available across its 30 African country affiliates.

It has also added two new branches — Busia and Malindi — to its fold as it seeks to expand in Kenya. The MD said the bank plans to implement agency banking in addition to new financial services.

Registered in Lome, Togo, Ecobank Transnational Incorporated (ETI) is the parent company of the leading independent regional banking group in Africa.

It currently has a presence in 30 African countries. The group is also represented in France through its affiliate EBI S.A. in Paris.

BRIAN ADERO in Nairobi, Kenya

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