Kenya’s Equity Bank of Kenya has applied for a licence to start mobile phone operations, though it is yet to be approved by the Communications Commission of Kenya (CCK).
The Daily Nation reports the bank is looking to become a Mobile Virtual Network Operator (MVNO), meaning it would operate using an existing Mobile Network Operator (MNO) to offer mobile services.
“The Equity Bank licence application is not yet approved. It still has to go through several stages which are required by law,” CCK director general Francis Wangusi told the newspaper.
Wangusi said the application is currently with the National Intelligence Service (NIS) which will evaluate it for security concerns before the final decision is made.
When HumanIPO contacted Equity it said it could not comment further as it awaited the decision from the CCK.
Originally Published on Human IPO.