Essar to launch mobile money transfers

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Kenya’s fourth mobile network Essar Telecom has said it plans to launch a money transfer product to rival two similar products .

Other operators, Safaricom and Zain, already have successful transfer products in the burgeoning African mobile communications sector.

"Money transfer is a big opportunity for Africa, which has a large unbanked population", Jayant Khosla, chief executive for Essar Group in Africa, said in a statement.

—Reuters