Telkom seeks CBK approval to launch mobile money platform

Telkom seeks CBK approval to launch mobile money platform
The Central Bank of Kenya. Photo/FILE

Telkom Kenya has expressed confidence of being granted approval by the Central Bank of Kenya (CBK) to launch its much-awaited mobile money transfer platform. The firm’s chief marketing officer, Levi Nyakundi said the process is nearing completion with formal announcement to be made “in the coming days or weeks.’”

“We are still waiting for CBK licence before we can make formal announcements. Our goal remains to continually grow these numbers and drive usage by consistently delivering real value to our subscribers, as well as through sustained investment in infrastructure to deliver the best network quality,” he said on Wednesday when the company launched a promotional campaign seeking to reward its subscribers as part of activities the telco’s target in attaining four million subscribers by end of March.

Presently, the operator has 3.8 million subscribers under its belt since the rebranding in July last year. Meanwhile, the company has embarked on the second phase which will focus on modernisation and expansion of its 3G and 4G networks.

“Last year saw us complete the first phase of our National backbone and metropolitan transmission network and invest Sh5 billion towards network modernisation leading to the launch of our 4G network,” said Nyakundi.

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