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Telkom Kenya is set to introduce two new subsidiaries to help improve it’s digital and financial services.
In a statement on Thursday, Telkom said the move is in line with plans to position itself as the best telecommunications company in terms of data services and digital infrastructure.
“To enhance service delivery, Telkom is creating two 100% wholly-owned subsidiaries to house its Digital and Financial Services businesses,” said the statement.
This according to Telkom is the next phase of its transformation, as it seeks to improve service delivery.
The consumer service delivery unit will, however, remain within Telkom.
Last year, Telkom restructured to become a digital driven company with focus on transforming the Consumer, SME, Corporate and Public Sectors, expansion of 4G/LTE network, and creating a smart landing hub for submarine cables.
In April, the telco signed an agreement with the Ministry of ICT’s National Youth Council of Kenya to co-create ‘Fursa’, a youth-focused digital wallet to relieve them from financial exclusion during the pandemic.
Under the partnership, Telkom would install the Fursa wallet and offer support with respect to its operationalization, maintenance and updates, as well as providing professional and product support services, including infrastructure, care services, monitoring, performance and availability.
Telkom Kenya CEO Mugo Kibati said the collaboration was the first of such Digital Financial Services partnerships that the company will be exploring, with the potential to accelerate the economy into cash-lite status.
“Further digitization and investment in the mobile money ecosystem will help solve a crisis that has been further exacerbated during the pandemic. The Fursa e-wallet helps to address this challenge,” said Kibati.
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