Equity Group strengthens partnership with Zepz to support diaspora client

By Peter Ochieng

Equity Bank Group has strengthened its partnership with a leading digital money provider, to provide customers with secure, convenient and affordable international money transfers.

The bank is continuing its partnership with Zepz, the group powering leading global remittance brands, World Remit and Send Wave, with the bank’s customers in Kenya and across its subsidiaries in Tanzania, Uganda,Tanzania, Democratic Republic of Congo (DRC), Rwanda and South Sudan the major target.

Zepz (via World Remit and Send Wave) first partnered with Equity Group in 2018 through its subsidiary.

The renewed agreement is expected to significantly optimise customer experience, leveraging the combination of best-in-class APIs and integration solutions from Zepz, and both the digital and physical payout networks of Equity Group Holdings across their six banking subsidiaries.

Commenting on the partnership, Dr. James Mwangi, Managing Director, Equity Group Holdings said, “This partnership, rooted in deliberate intent and purpose, signifies our shared strategic vision to pioneer innovative solutions in the payments space for the African continent. By harnessing the unique competencies and capabilities of both institutions, we aim to revolutionise payment solutions across the continent as a support to achieving the Africa Recovery and Resilience plan.”

“This partnership will enable us to facilitate trade linkages across the region by enabling person-to-person, person-to-government, person-to-business, and business-to-business payments,” he added.

Zepz CEO, Mark Lenhard expressed optimism on the potential of the partnership to drive the uptake of its twin remittance services in the region.

“We have a resolute conviction in the transformative potential this partnership holds for our customers transferring money into and across the Africa region. We look forward to leveraging Equity’s position in Kenya and throughout the East African Community to grow our market share and further expand into new countries with Equity as it continues to grow its footprint across Africa.”

Dr. Mwangi added that they envision it as a catalyst for further integration and reliable services, particularly enhancing cross-border trade by leveraging the synergies between Equity and the Africa Free Continental Trade (AFTA) area.