Equitel, the mobile virtual network operator of Finserve, a fully-owned subsidiary of Kenya’s largest retail bank Equity Group Holdings (formerly Equity Bank Group), in collaboration with Airtel, has launched its fifth-generation connectivity service.
It is the first time an MNVO (Mobile Virtual Network Operator) is treading the 5G path, not only in the country but in Africa at large. The service is now live in more than 370 locations across the East African nation, reaching places like Nairobi, Mombasa, Kakamega, Siaya, Eldoret, Nakuru, and Bungoma.
This also marks the third 5G network roll-out in the country, following the efforts of Safaricom in 2021 and Airtel Kenya in 2023. Data from the Communications Authority says the number of 5G users climbed to 509,737 as of September 2023, signifying an increase of 13.3% or 59,943 subscribers.
Per a statement by Equitel, the network will provide faster and more reliable internet connectivity for businesses, densely populated communities, and internet-hungry individuals, helping them partake in activities within the digital economy.
For some time, predictions have said 5G will catalyze the rise of dedicated MVNOs. The growth potential lies not only with consumers but also at the enterprise level. Ever since the industry reinforced this trend at the MVNOs World Congress 2020, use case specialization has gone up a notch.
Over the last few years, carriers began focusing on tactical in-house innovation, which has helped them gain more users worldwide, as MVNOs become one of the first choices for users seeking constant connection, diverse internet bundles, and exclusive offerings.
These 5G use cases rely less on enhanced mobile broadband (eMBB) and more on ultra-reliable, low latency communications (URLLC) and machine-learning type communication (MTC).
Equitel Kenya
In Kenya, Equitel has established a household mobile banking brand by offering customers convenient, easily accessible, and affordable financial transactions via several channels. The service is vying for a spot in a mobile money market dominated by Safaricom’s M-PESA.
According to Salman Tariq, VP for Europe, Middle East, and Africa at Optivia, a cloud telecoms firm that has been working in the African telecoms landscape for over a decade, innovation is central to the success of the continent’s MVNOs
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“Specializing in niche segments, MVNOs are ideally positioned to drive the growth and adoption of connectivity and specialized digital services tailored to specific market needs. Their agility and focus on particular customer segments allow them to innovate and provide services that might not be economically viable for larger MNOs,” Tariq said in his 2024 outlook.
Africa lays claim to 5.4% of the global MVNO market with 7 million subscriptions. To compare, the continent’s total mobile subscriptions represent 12% of the total in the world. Back home, MVNOs account for 0.6% of total subs, compared to 8% in Western Europe and 1.4% in the Middle East.
Though MVNO subscriptions grew by 4% in 2022, lower than the global 7%, the market is expected to start growing faster from 2023, as operators—essentially banks, retailers, and data-driven telcos—obtain licensing more than ever.
Kenya, which has a more in-place MVNO regulatory framework, was pioneering the market in Africa with 3 active players as of 2016. Two have sunset their operations, leaving Equitel as the only existing network. South Africa now leads the continent with over a dozen operators.
Frequently Asked Questions
How to transfer money from Equitel to Mpesa
As much as it allows its users to send and receive money from banks, it also accommodates Mpesa transfers, and here is the guide on how to send cash from Equitel to Mpesa.
1. Tap on your Equitel sim toolkit on your phone
2. Select the ‘My Money’ option
3. Go to the ‘Send/Pay’ option
4. Choose the Equity bank account number you want to withdraw from and press OK
5. Choose the ‘To Others’ option
6. Select Mpesa
7. Now enter the Mpesa recipient’s mobile phone number
8. Now enter the amount you wish to transfer
9. Double check if you have entered the correct mobile phone number and amount
10. Enter your secret Equitel PIN and press OK to confirm the withdrawal.
You’ve done it! You will receive a withdrawal SMS from Equity Bank indicating the date and time of cash withdrawal, recipient’s details, money sent, and bank balances. On the other hand, the Mpesa customer will get a Mpesa message indicating the reception of funds in the mobile wallet.
How to check equity bank balance without Equitel line
This is a mobile banking service offered through a short code *247 #. It is now available through all Telcos in the country (Equitel, Airtel, Telkom & Safaricom).
