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Kenyan Bank to introduce money transfer by cellphone in South Sudan

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October 1, 2008 (JUBA) — The Kenyan Equity Bank, One of the world’s first cellphone-to-cellphone cash-transfer systems, intends to expand its activities to southern Sudan by the end of the year

The system, called M-PESA, allows customers to transfer cash via their mobile phone, through an agent or store which supplies the cash. To send cash, a customer has to buy E-money which is then loaded on to his account and then he can send to a recipient who receives a text message with a code telling him to go and collect money from an agent within his proximity.

Equity bank chief executive, James Mwangi, on Tuesday confirmed that the bank had already obtained approvals from the two industry regulators - the Central Bank of Kenya and the Central Bank of Southern Sudan.

The southern Sudan service would begin with six branches, said Mwangi.

The money transfer is a crucial issue in the southern Sudan. The Nile Commercial Bank, a southern Sudan government commercial bank, and some Somali transfer companies are the sole current agencies in the region.

In Kampala, MTN Uganda, is also preparing to launch the service but officials refuse to say when it would start operating.

Kenya banking industry complains from this transfer system which threats their system. Last July, the Safaricom MPesa service, one of the two cell operators offering this service, transferred KSh21bn with subscribers within the network transferring KSh6,8m amongst themselves.

(ST)

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  • 2 October 2008 10:29, by Saaid Nafe

    It is good and bed at thesame time.
    Good because it will help quick exchange of goods between Southern Sudan and Kenya.
    Bed because it will easily encourage more corrupation among those southern sudanese leaders who still keeping their families in Kenya to transfer Goverment fund .Such business should be monitor properly not to effect southern sudan economic.

    repondre message

    • 3 October 2008 08:02, by Outsider

      That is a good move .but on the other hand"GOSS" should not rush into things ,i mean we should be deliberated on doing or taking such steps.specially when it comes to technology and infrastructure they are determined by the level of education and the basic needs which we need .people should be very careful on choosing what suit them.
      I agree with the idea that introducing this technology will increase corruption and hacking of course not from the Sudanese side ,but from other people who will be able to get into the system if it’s not well secure and maintained.
      I think "GOSS" should invest and establish on systems and technologies which will be more simpler and secure so our people can benefit.because we don’t need our money to be transferred by corrupted people who are enjoying the revenues of their corruption overseas.
      We need future plans to be well known to people; so debates and new ideas could be discussed.

      repondre message

  • 2 October 2008 12:51, by Mabior Akol

    I do see whether the Goverment of Southern Sudan (GOSS) is for his people because they just allow evey thing to this country whether is good or not some time i may belive what young boy say that GOSS is Goverment Of selfe Servcie were by evey body is for his / her own, please that system will take all the country money.

    repondre message

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