MTN to get Banking License, thin line between telcos and banks gets even thinner

In Kenya, telcos are doing banking while banks are doing telco business. It’s all in trying the next best way to grow customer base or monetize the existing ones. This has resulted in a very grey line, there was a time whispers had it that KCB was planning to get a telco license, could still happen, now MTN is on their way to getting a banking license and this will stir things a bit in Nigeria, as well as other markets the telco is in.


Could the banking license be for Mobile banking?

Several options, they could get a license and acquire a small bank, or get the license and start a bank, or probably that’s what a telco needs in Nigeria to get into mobile money.

Isn’t it the same even in Kenya. Mobile money providers have to get a license from Central Bank …