Telkom Kenya receives CBK Approval to provide mobile money services

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Telkom Kenya has received authorisation from the Central bank of Kenya to carry out business as a Payment Service Provider (PSP. The authorisation is in line with the National Payment System (NPS) Act (No. 39 of 2011) and the National Payment System (NPS) Regulations, 2014.

“A person proposing to transact the business of a payment service provider shall, before commencing such business, apply to the Bank for authorization, the NPS Act states. No person shall, in Kenya conduct the business of a payment service provider except an authorized payment service provider.”

Telkom Kenya Limited was incorporated in Kenya on 3 April 1997. Currently, the company re-branded from orange Kenya to Telkom Kenya Limited after Helios Investment Partners bought a 60 percent stake in Orange Group. Helios Investment Partners is a private equity investment firm based in the UK.

“The entry of Telkom Kenya Limited in the Mobile Financial Services space will provide alternative choices to Kenyans as well as enhance competition and innovation in the provision of Digital Financial Services,” CBK says in a statement.

Telkom Kenya Limited recently unveiled its mobile money platform dubbed T-Kash, joining other PSPs such as Safaricom PLC and Airtel Networks Kenya Limited.

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