To issue both physical and virtual banking cards in East Africa, Ukheshe has partnered with KCB Bank Kenya.
The partnership will include other creative digital products, such as the issuance and acquisition of QR, according to Victor Ndlovu, VP of Ukheshe Africa.
“We are well positioned to tackle many open-loop business opportunities by joining forces with KCB while improving broader customer acceptance. Payment choices, such as payroll, companion cards, multi-currency prepaid cards, travel cards and gift cards, along with social security and other government benefit services such as insurance claims, would benefit across different segments.”
Ndlovu says financial inclusion in the region and around the continent, where millions of people are either unbanked or seriously underserved, remains a huge challenge.
“Ukheshe and the KCB will meet the growing demand for viable cash alternatives with a shared goal of contributing to economic growth and financial freedom on the continent.”
In recent months, as the continent transitions towards digital platforms, goods and services across all categories, Ukheshe has stepped up efforts to develop and expand key partnerships in Africa.