Equitel now hits 1.8 million subscribers

Finserve Africa’s Equitel has registered a positive growth of 8.0 percent in mobile subscriptions to post 1.8 million subscriptions during the period under review from 1.7 million recorded in the preceding quarter.

Equitel also registered strong growth in its mobile money transfer market share to hit 26 percent up from 23 percent in the previous quarter as per the latest data from the Communications Authority of Kenya (CA) fourth quarter report (April- June 2017) shows.

The mobile operator processed transactions worth Ksh 311.8 Billion in the fourth quarter of the 2016-2017 fiscal year, a 15 per cent increase from Ksh 271.8 billion that was transacted in the quarter before.

EazzyPay which is the mobile commerce solution on Equitel now accounts for 33% of the said market share, up from 30% in the preceding quarter. The value of mobile commerce transactions that were processed through EazzyPay stood at Ksh228 Billion, a 21 per cent increase from Ksh189 Billion that was transacted a fiscal quarter earlier.

The Bank is focused on increasing Equitel SIM uptake through its Thin SIM card which is particularly gaining prominence owing to the fact that it doesn’t necessitate getting a dual SIM phone or having 2 phones in case you don’t want to let go of your earlier acquired SIM Card.