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Equity Bank unveils its MVNO strategy

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MaichBlack		#411 Posted : Tuesday, September 23, 2014 8:43:24 AM
Rank: Elder Joined: 7/22/2009 Posts: 7,840		quicksand wrote: MaichBlack wrote: The optimist wrote: And the Green elephant is not relenting. Safaricom sounds warning to users of Equity’s thin SIM. 'Wanjiku' will sue Safcom for withdrawing it's legal responsibility without a valid reason! Safcom will have to PROVE the thin sim comes with additional security issues which wouldn't be there if it were not used. The burden of proof is on Safcom!! Equity will also take on Safcom on the basis of anti-competition actions. Again, Safcom will have to PROVE the security threats exist! Safcom needs evidence. So far, there is none! Suspicions, fear etc. will not cut it! Legally, how is it different from what many establishments do when they post a sign saying 'Management is not liable for theft or damage of property/cars left here .....'? Following your line of argument, they would have to prove first that thieves or criminals who can do harm are present in the vicinity (or in the establishment). There is no evidential burden required to issue a caveat (even when it appears as if the objective is to scare people). I stand corrected. Any lawyers in the house? These companies are not mandated to take responsibility for such loss. On the other hand, financial institutions are REQUIRED to take responsibility of client's money. For one, CBK REQUIRES financial institution - including Safcom/Mpesa to insure client's money to the tune of 100,000/=. They can't unilaterally seek to selectively ignore that directive without inviting CBK's wrath! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack		#412 Posted : Tuesday, September 23, 2014 9:14:05 AM
Rank: Elder Joined: 7/22/2009 Posts: 7,840		@quicksand - You go to your house and post notices informing your kids you bear no responsibility to them and see how legally binding that will be. You can NEVER come up with a [legally binding] agreement/law/conditions at a lower level that contravene laws at a higher level. For example, if you and I signed a sale agreement for one of your kids, it could not be legally binding! Safcom has to operate within Kenyan laws and CBK's and CAK's rules!! Hiyo ingine ni porojo! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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mlennyma		#413 Posted : Tuesday, September 23, 2014 9:20:49 AM
Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi		Who is driving kenyas economy?who are the most c.e.os in the country and serious business guys?answer yourself and parting shot equity has all the goodwill to execute this plan,in Africa we only compete with southafrica which has already embraced thin sim so we are behind technology go equity go "Don't let the fear of losing be greater than the excitement of winning."
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MaichBlack		#414 Posted : Tuesday, September 23, 2014 9:21:39 AM
Rank: Elder Joined: 7/22/2009 Posts: 7,840		Anyone foresee's business/economic sabotage in the next one year as I do? A situation whereby seasoned hackers are covertly hired to break into the system to 'prove' the thin sim comes with security threats?? This might movie - like with time. Hackers are hired, break into the system and one entity has their 'evidence'. The other entity hire hot shot investigators which proves entity one was culpable in the staged hacking... Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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mlennyma		#415 Posted : Tuesday, September 23, 2014 9:28:40 AM
Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi		If internet has not been stopped because of hackers there is no way hacking will lead to technology stop we will deal with the criminal just like other fraud cases which are very many even in mpesa "Don't let the fear of losing be greater than the excitement of winning."
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iris		#416 Posted : Tuesday, September 23, 2014 9:31:22 AM
Rank: Member Joined: 9/11/2014 Posts: 228 Location: Nairobi		If a hacker (hired or not) could break into the system, wouldn't that concern you?
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kollabo		#417 Posted : Tuesday, September 23, 2014 9:40:27 AM
Rank: Veteran Joined: 2/3/2012 Posts: 1,317		Sasha wrote: CAK and CBK have given Safaricom a lifeline. 1 year in the technology industry is huge; you only have 3 months of first mover advantage in this industry especially where mobile technology is concerned. If Safaricom are bright, and surely they are, they will come up with something to counter this. They are already talking to KCB and Post Bank to explore a response to Equity. Looking at it from the banking industry, the other banks are running scared more than Safaricom. There are about 200k mobile banking users in the entire industry. Assuming a conversion rate of as low as 10%, Equity will already have more than 4x mobile banking/payments users than the entire market. The cost savings, revenues from transaction fees, increased deposits will give Equity such a significant edge that the other banks just cannot compete with. No wonder the other banks are busy headhunting at Mpesa. Equity's Achilles Heel will be their technology model. They have handled technology very badly since they started, what with CBS being down, ATMs not working, EAZZY247 being crap etc. You would hope that they have learnt a lesson and will not make silly blunders. Ask KCB and CfCStanbic how much they have lost because of silly technology mistakes. Word on the ground is Safcom have contacted their mother Vodafone to come up with their own thin SIM.
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mlennyma		#418 Posted : Tuesday, September 23, 2014 9:41:51 AM
Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi		BREAKING NEWS:Equity share overtakes kcb share in a fierce trading session "Don't let the fear of losing be greater than the excitement of winning."
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mlennyma		#419 Posted : Tuesday, September 23, 2014 9:44:57 AM
Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi		A dominant player doesn't need a thin sim,its an underdog who needs a thin sim to ride on the dominant sim to pull the dominance down "Don't let the fear of losing be greater than the excitement of winning."
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MaichBlack		#420 Posted : Tuesday, September 23, 2014 9:48:50 AM
Rank: Elder Joined: 7/22/2009 Posts: 7,840		iris wrote: If a hacker (hired or not) could break into the system, wouldn't that concern you? Most systems can be hacked. FBI, Microsoft etc have all been hacked. One of the reasons why hackers don't hack into some systems is because the time, effort and resources involved are far much greater than what they are after. Some of the computing resources required to actualize some hacks are too expensive to even bother. Now, if you have a wealthy backer with a far greater agenda willing to pick up the bill, that changes the whole ball game! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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