Hello @Joe, am replying in-line below, some thots. Cheers. :-) On Wed, May 19, 2010 at 9:19 AM, Joe Murithi Njeru <joe.njeru@gmail.com> wrote:
Hello Aki,
Benefits to Kenyans 1. M-Kesho is a savings account with Equity so now you earn interest on your savings.
How does one one open the account? By simply sending a text message or going physically going to the bank and opening the M-Kesho account? Therefore I'd need to have a Safaricom Mpesa number as a account opening requirement?
2. M-Kesho will be able to offer loans from Kshs.100 - Kshs.5000
I thought Equity was already offering this and thus one reason why Equity was a successful benchmark to other banks.
3. M-Kesho will allow deposits via MPESA directly
This is a new development and an excellent one. What secure measure have been put in place to ensure that the amounts deposited reflect the mpesa transfer and prevent fraud or amoutns that go electronically missing? It happened to my Mybtes, it can happen to your money too.
4. M-Kesho will allow Kenyans to buy insurance electronically
This is pretty standard with any bank these days. However, since the target is low income and those who lacked the banking facilties what insurance rates is Equity offering on low income earners and those who do not have access to such facilties. If I held Ksh 24,000/- PA, what cover does this amount offer?