CARE International, Orange and Kenya Equity Bank partner for mobile banking services

Mobile banking for VSLAs

Swiss NGO, Care International, is partnering with Orange and Kenya Equity Bank to bring mobile banking services to CARE village savings and loan associations (VSLAs), also known as savings groups, in Kenya, reports Through the new partnership, VSLA’s will be able to make mobile deposits and withdrawals at Equity Bank and Orange locations throughout Kenya. Interest on the accounts will be 2.5% per annum.

Community- managed VSLAs are an important first step to financial inclusion for many of the poorest households,” says Lauren Hendricks, executive director of CARE’s Access Africa programme. “For many members, the merger of mobile payments with financial products specialized for groups will allow VSLAs to become an on-ramp for formal financial inclusion.”

Thus far 25 VSLA’s have enrolled on the programme and a further 175 are due to join in September this year. 

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