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Postbank Kenya unveils mobile banking service M-chama

“According to Kenya Broadcasting Corporation (KBC), the bank, aka Kenya Post Office Savings Bank, will offer loans. KBC says M-chama currently has close to 2,500 groups registered and expects to recruit 3,500 more groups by the end of the year. KBC adds that more than 45 million Kenyans own a mobile phone. State-owned Postbank will have competition in Kenya’s mobile market.”