Kenyans can trade across borders via their mobile phones after Pan-African lender, Ecobank signed a partnership deal with e-wallet provider, Okapi Finance.
Okapi chief executive Gisele Mwepu said Kenyans using the mobile app will have access to 33 markets where Ecobank operates in as well as be able to move money across Kenyan banks.
“I believe that interoperability between solutions in Africa is the key to achieving financial inclusion and to facilitate transactions between different countries in Africa,’’ she said.
Ecobank Kenya managing director and regional executive for Central, Eastern and Southern Africa Sam Adjei said the partnership now enables them to offer financial services to more people where banks do not exist.
With African countries opening their borders for trade, payment solutions come in handy as they will enhance faster conclusion of commercial deals leading to increased intra-Africa trade.
“It is bearing some positive impact as residents of some Nairobi slums use the facility to pay for basic hygiene services among other things,” he said.
Okapi East Africa country manager Patrick Kihara said Kenyans downloading the Okapi app automatically enroll in the Ecobank Xpress account, a savings account.
Apart from making payments and saving cash, the app enables users to transfer funds, settle insurance premiums as well as move money between Okapi and Visa card in real-time.
Okapi is also available via authorised agents, Okapi website with the mobile App available on Android and IOs mobile operating systems.