ADVERTISEMENT

Bill Gates Foundation eyes Kenya's mobile money with Mojaloop software

Mojaloop will be expected to connect the six mobile money providers and 44 registered banks upon securing approval

ADVERTISEMENT

The Business Daily reports that the foundation plans to hold talks with Kenya's Central Bank in order to rollout the software known as Mojaloop.

The software will connect the six mobile money providers and 44 registered banks upon securing the necessary regulatory approvals and partnerships with industry players.

"There are three projects typically driven by central banks in three different African countries looking to deploy Mojaloop on a national scale…we will see pilots this year,” Kosta Peric, Deputy Director for the financial services for the Poor initiative at the foundation told the newspaper.

Interoperability

The CBK in April said it welcomes mobile money interoperability due to its benefits to customers but requires that such transactions be secure and efficient.

Founded in October last year, Mojaloop is aimed at allowing interoperability among digital payments.

The software is available free-of-cost, for software developers to adapt and banks, financial service providers and companies to implement.

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

ADVERTISEMENT