Kenya’s lender, Equity Bank, on Monday said it is poised to start a mobile telecoms service in the next two months.

The bank has embarked on this move because it is targeting a portion of the market share of Kenya’s fastest-growing cell phone-based financial services market, Reuters reported on Monday.

James Mwangi, the CEO of Equity Bank, told Reuters that the lender had joined hands with the Kenya-based unit of Bharti Airtel to spread its new service in the country, which many believe is the leader of the fastest-growing east African economic region.

Kenya has been in the forefront of the global mobile money. Safaricom’s Mpesa programme has given banks an easy way to assist millions of people without access to proper banking and insurance services.

M-Pesa’s service revenue surged 21,6 percent to $302.51 million compared to the previous year, Reuters reported.

Kenya’ telecoms regulator awarded Equity Bank a Mobile Virtual Network Operator (MVNO) earlier this year, effectively allowing it operate a service using a telecom operator’s network.

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