Equitel, a mobile network operator in Kenya, rolled out its fourth generation (4G) network on August 12, 2021. This initiative aims to provide customers with improved internet banking services.
The Equity Group Holdings subsidiary said its new 4G broadband service will provide faster browsing speeds for streaming and downloading. “Equitel’s new 4G SIM card will solve the problems of slow internet connection and limited data coverage,” said Lanre Bamisebi, Managing Director of Equitel, also Director of IT and Operations for Equity Group.
This launch comes in a context of the coronavirus health crisis where banks are developing their digital platforms to reduce physical transactions.
According to reported statistics, Equitel recorded 14% growth in customer transactions in the first quarter of 2021. Transaction value increased 163% to 160.5 billion shillings (1.4 billion USD). at the end of March 2020 to 421.8 billion shillings (3.8 billion USD) a year later.