Equity Bank Selected by Government to Disburse Payments to the Elderly

Equity Bank has been selected by the government to disburse payments for senior citizens in the newly established Inua Jamii 70 and Above Cash Transfer Programme.

The new scheme targets individual Kenyan Citizens who are 70 years and above to start receiving bi-monthly cash allocations from the National Government.

The Bank has rolled out a registration process to sign up the selected senior citizens into the programme, where they will get an account and an Equity Bank Inua Jamii smart card.

The card, which uses biometric authentication, will enable enrolled beneficiaries access funds issued by the government through the Bank’s branch network and identified agents strategically located across the country.

The initiative, which is part of National Social Protection Policy (2011), has expanded the benefits of Older Persons Cash Transfer Programme to include citizens who are 70 years and above.

The programme aims at delivering unconditional social assistance in terms of cash transfers of 4,000 shillings every 2 months to 500,000 senior citizens across the 47 Counties and is in line with the Kenya Vision 2030 aim of providing a high quality of life for all its citizens by the year 2030.

Equity Bank’s Special Projects Director, Mr. Allan Waititu, said that targeted beneficiaries should visit the nearest enrolment stations in addition to Equity Bank branches to register and open accounts.

“We will offer multiple solutions in a single card that will benefit the senior citizens enrolled in the programme. With the cards, beneficiaries of Inua Jamii 70 and Above Program will be able to access their cash allocations and use the card to purchase goods and access services,” added Mr. Waititu.

Some of the benefits that the beneficiaries will be able to enjoy include free first two withdrawals, free first ATM card, two free balance inquiries after every payment cycle, unlimited access to Equity Bank’s mobile banking, zero opening balance, zero account maintenance balance, among others.

“With our countrywide reach of over 177 branches and 30,000 agents, the Bank will offer convenient means of access to funds for the registered beneficiaries. This initiative aims at enhancing convenience, security, accessibility, and efficiency as well as accountability process,” said Mr. Waititu.