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Equitel Money rises to take a fifth of mobile cash transfers

Equity Group CEO James Mwangi (left) with former Airtel Africa CEO Christian de Faria during the launch of Equitel in 2015. FILE PHOTO | NMG

By  DOREEN WAINAINAH

Equity Bank’s mobile banking platform Equitel accounted for over a fifth of mobile money transfers in the latest sector statistics by Communications Authority of Kenya (CA).

The platform, officially launched in July 2015, recorded Sh251.5 billion worth of transactions in the three months ended December.

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Note: The results are not exact but very close to the actual.

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