Jm's worry is how to secure bank accounts once they are linked to mobile services.
About the net network is airtels business, and by the Bharti which owns airtel is selling its africa masts to helios which also owns 24% equity bank.

The interesting thing is Britam also wants to increase its stake in equity bank.

Why would they need so much cash just for equitel when the infrastructure is already in place and the licences are coming at a throw away price?

Equity owns a stake in Britam and wants to increase it. The catch is insurance sector is not much regulated as the banking sector in kenya so the directors are shifting their wealth to a less regulated sector.

They need to form a Holding Company then put Equity Bank, Britam and HFCK under it. Give shareholders of each entity shares in the 'parent' [Holding Company] so the 3 firms are 100% subsidiaries.

Britam/Equity Holdings will now be a Financial Supermarket but its subsidiaries operate independently [though each will cross-sell products].

HFCK concentrates on mortgages & property development.
Britam provides long-term funds to HFCK and its core insurance business.
Equity does what it does best. Banking.

Equitel can be a subsidiary of Britam/Equity Holdings with very close links to all 3 finance entities.