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MMU Examples – M-KESHO

M-KESHO is a financial service linked to Safaricom’s M-PESA in Kenya. An M-KESHO savings account lets customers manage their money between an M-PESA account and an account based in Equity Bank via their phone.  Like M-PESA accounts, M-KESHO accounts have no set-up fees, minimum balances or monthly charges. But unlike M-PESA, M-KESHO accounts pay interest, have no balance limits and offer emergency credit and insurance facilities.

Below are useful resources for researching this topic.

1. WHAT IS M-KESHO?

M-KESHO in Kenya

Author: Ignacio Mas, The Bill and Melinda Gates Foundation

Ignacio Mas explains how M-KESHO offers a broader range of financial services seamlessly on the biggest mobile money platform in the world.

2. HOW DO SAFARICOM AND EQUITY BANK VIEW M-KESHO AND THEIR PARTNERSHIP?

Mapping and effectively structuring operator-bank relationships to offer mobile money for the unbanked

Author: Neil Davidson, GSMA

Find out more about the relationship forged between Safaricom and Equity bank on p.17.

Download: French | Spanish

What is M-KESHO and how does it work?

Author: GSMA

Waceke Mbugua from Safaricom and John Staley from Equity Bank explain what M-Kesho is, how customers can open an account, and what the KYC regulations are for M-Kesho.

The M-Kesho Story So Far and Way Forward

Author: GSMA

In this video, you’ll hear how customers responded to M-Kesho and what the service’s goals are.

Equity Bank and Safaricom Before M-Kesho

Author: GSMA

Learn more about Equity Bank, how it views M-PESA, how Safaricom worked with banks in the past and hear some questions from the Working Group’s audience.

Developing M-KESHO

Author: GSMA

Learn more about the negotiations to create M-Kesho, and how M-Kesho is positioned.

3. OTHER RESOURCES

M-KESHO Official Website
You’ll find more information by visiting Equity Bank’s M-Kesho resource centre which includes information on its features, benefits and tariffs.

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