Safaricom-Equity; Say what you will

Lots has been said about the Safaricom-Equity M-Kesho deal. Of course I had to say something. I remember reading somewhere (must be CGAP) that central Bank allowed Safaricom to implement M-Pesa by ruling out that it was not banking since banking involved taking deposits and accruing interests. And so And made all the difference. Therefore, M-Pesa was not banking but money transfer.

People have hated on Safaricom/Safaricon/Suffericom for long, yet it continues to be the dominant player with ever improved products and deals, despite the more expensive call tarrifs. I subscribe to Safaricom, as does close to everyone in my extended family. As for Equity, my sister once told me that many people in Central Kenya don't ask if you have a bank account. It's simply "Ni uri Equity?"-Do you have Equity? I'm so sure this might make some of my remaining relatives move from komashio (KCB) to Muiganania (Equity). Seems like with time I'll be able to carry out real time transfers from Equity Bank in Uganda to M-KESHO in Kenya. You guys charging us 2.5%-4% for M-Pesa transfers in UG, your days are so numbered.

Lesson learned? Innovate or whine.