Kenya: Bank to introduce money transfer by cellphone in South Sudan

The Kenyan Equity Bank, One of the world’s first cellphone-to-cellphone cash-transfer systems, intends to expand its activities to southern Sudan by the end of the year. The system, called M-PESA, allows customers to transfer cash via their mobile phone, through an agent or store which supplies the cash. To send cash, a customer has to buy E-money which is then loaded on to his account and then he can send to a recipient who receives a text message with a code telling him to go and collect money from an agent within his proximity.