Kenya: Finserve, Jointpesa Partner to Launch e-Commerce Platform

10 February 2020

Nairobi — Equity's subsidiary Finserve has partnered with fintech startup Jointpesa, to unveil an e-commerce transaction platform dubbed JointPesa.

JointPesa founder Valentine Kilonzo said the platform's uniqueness is in its ability to protect online customers and sellers from fraudsters who entice and con unsuspecting online traders especially on social media and emails.

The platform is also expected to create jobs as it competes with other e-commerce platforms such as Masoko, Jumia, and Kilimall.

According to Njoroge, the two companies are seeking to recruit over 2,000 merchants-onboarding agents countrywide, to grow the number of users.

"Criminals are using the internet to entice unsuspecting buyers through emails, SMS's, social media platforms, requesting for the registration fee for goods and services, we also intend tp create over 2000 jobs under this," said Njoroge.

A report by National Kenya Computer Incident Response Team revealed that 26.6million cyber threats occurred in the country between April and June 2019.

This placed Kenya among the top 10 countries in the continent with the highest number of people exposed to cybercrime.

Additionally, Kenyans could potentially engage in e-commerce depending on of a number of factors such as purchasing power, availability of suitable products online, awareness of available opportunities, levels of literacy and degree of confidence in online trade platforms.

Google, on the other hand, identifies 13 million active internet users in Kenya alone with 47.6 million active mobile money accounts which accounted for a transaction value of Sh362 Kenyan Shilling in 2018 alone.

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