Kenya’s third largest Telecom service provider Telkom Kenya has announced to its customers that it will soon shut down its Orange Money services, seven years after its launch in the country.
Telkom's urgent message to all Orange Kenya subscribers.
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In a post on their social media pages, the firm said that it would discontinue the money platform effective July 4 with customers being asked to access funds at the nearest Equity Branch.
Telkom said that it is in the process of implementing a new money transfer platform, the reason why it has to shut the current system, Orange Money.
“Telkom Kenya is implementing a new and improved Mobile Money service. In order to facilitate this, we will be shutting down the existing Orange Money service to pave the way for the new, exciting product and services.
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“Any funds that are still with Orange Money after July 4th 2017 will be available/accessible through your linked Equity Bank account which will be accessible at Equity Bank ATMs, Equity Bank Branches and Equity Agents,” read part of the message.
The service was launched in November 2010 by Telkom Kenya in partnership with Equity Bank, under the tag line ‘Iko Pesa' with its main being to combine the features of mobile money transfer products and mobile banking.
As of December 2016, Orange Money had 194,322 subscribers being served by 800 agents.
Between October and December 2016, the platform had moved Sh80 million, up from 31,000 transactions.
