Telecoms operator Safaricom #ticker:SCOM has appointed KCB Group #ticker:KCB as a trust account holder for its mobile financial service M-Pesa in a deal which will see the lender benefit from a pool of cheaper deposits.
KCB, which already partners with Safaricom through the popular mobile savings and loans platform KCB-M-Pesa, becomes the second trust account after CBA Group.
