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?
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?
Author: Neil Davidson, GSMA
Find out more about the relationship forged between Safaricom and Equity bank on p.17.
What is M-KESHO and how does it work?
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
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
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.
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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