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Review CBK law to protect mobile cash customers

The dynamics unfolding in Kenya’s emerging telecoms sector are hard to process.?For instance, it will soon be possible for individuals to settle all their bills on the mobile phone through a new mobile cash service at the touch of a button.

Equity Bank’s entry into the mobile cash space is not only a game changer but also cutting edge technology that links a bank and mobile phone on the same platform for the first time in Kenya.?Interestingly, while the mobile cash space has attracted more players and highly differentiated products and services, the Central Bank of Kenya (CBK) – the oversight authority here – appears to be in deep slumber. ?

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