Telkom Kenya has launched its mobile financial service that is aimed to offer its customers a wide range of cross-functional solutions both for individual consumer and enterprise market.
In a colorful event that took place at Radisson Blu Hotel in Nairobi, Telkom Kenya assured its customers of a rejuvenated kind of service that will see the mobile money landscape in Kenya shift.
Telkom Kenya comes at a time when the Communication Authority of Kenya latest report indicates that Kenya has about 41 million mobile subscriptions with the growth has been consistent over the years.
“Mobile phones have become a significant tool of convenience in Kenya; an avenue for moving money within the financial system, making payments, customer deposits and lending. Through the mobile phone, financial services continue to transform our economy owing to accessibility, affordability, and convenience of the service. Mobile money has provided an essential on-ramp to financial service,” said Aldo Mareuse, the Chief Executive Officer at Telkom Kenya.
The number of active mobile money transfer subscriptions in Kenya according to CA stands at 28 million that carried out a total of 537 million transactions with a total currency value of Ksh.1.65 trillion.
“In spite of these impressive numbers, Kenya still has most of its key business sectors dominated by cash-based transactions,” added Mareuse. “The entry into Mobile Financial Services for Telkom is, therefore, a strategic move to better utilize our infrastructure, providing customer value for current services while aligning to future market developments. Because we are fully aware that to achieve financial inclusion in the years ahead is not just about applying and building on existing products but continued innovation to better meet the needs of the excluded.”
Speaking during the event, the ICT Cabinet Secretary Joe Mucheru hailed Telkom Kenya for being on the forefront of injecting fresh blood into the financial sector in the country.
“What Telkom Kenya has done should be emulated. It is about adding value in a service that makes a competition. Competition is not about bringing each other down but working together towards a common goal,” said the CS.