There is not much difference between Mkesho and a normal equity bank account.....only that you will have the account on your phone not in the bank
The only advantage is that you can ask a loan using Mkesho
But honestly according to me this was an unnecessary duplication of the same service which is M-pesa
Though overtime i have learnt never to under estimate moves pulled by safaricom so am sure their is a long term goal somewhere that we dont see yet

Pastor, i thought Mobile banking from Co-op, Pesa Pap from Family Bank and KCB connect could also do this? Apart from the loan facilities, what other difference is there?

Last I heard MKesho had signed 400,000, but only 170,000 were active. BTW, I'm one of the inactive ones, having registered at the Kawangware branch on 12th July, being issued with an account number and never had my phone activated, despite three visits and a similar number of assurances that the matter 'will be sorted out in 48 hrs.'

Actually, MKesho has a bank account held by Equity and mapped to M-Pesa to enable transferring funds between Equity and M-Pesa. At first glance, it appears to be an unnecessary duplication but think of what it means for Safaricom and Equity who are both known to go for the mass market. Wider reach for both, stickability of services and with even other options like micro-credit and insurance, this might become a big thing for Safaricom and Equity (subject to CBK banking regulations). Right now, I dont have to queue at Equity to top up the bank account - I can go to an M-Pesa agent, buy float and push it to the M-Kesho account.

For now, I don't think the two companies are making big money from it but it provides a platform that can be unleashed to grow Equity banking services and M-Pesa to a very big deal. There is unexploited symbiosis.

M-Kesho is all about Safaricom being an agent of Equity Bank. I c too much heat bila fire.