Arun Mathur, CEO, I&M Bank Ltd (L) and Duncan Otieno, CEO, MobiKash Ltd (R) during the launch of I&M KARIBU
I&M Bank and mobi Kash have come together in a bid to provide agency banking services to I&M customers in an enterprise branded as I&M KARIBU.
The move will allow I&M Bank customers to access banking services in both urban and rural areas, send money from a MobiKash account to an I&M Bank Account as well send money from an I&M Bank account into a MobiKash account.
I&M KARIBU is similar in operations to Equity Agents and Coop kwa jirani and KCB mtaani; agency banking services offered by Equity Bank, Cooperative Bank and KCB Bank respectively.
I&Ms services will initially be rolled out in 500 MobiKash outlets before picking up pace and spreading across all 47 counties.
In addition to independent outlets, MobiKash agents can be found in Nakumatt outlets, Post Bank branches and Bestlady cosmetics shops.