Egypt's e-payment firm enters Kenyan market

Cairo-based Emerging Markets Payments, an electronic payments processing firm, is now in Nairobi targeting the close to 140 million-people East African Community market.

Majority owned by UK's private equity firm Actis Capital, EMP is leveraging on the growing mobile money and the now standard use of chip and pin technology transaction cards in banking industry to get a share of the growing cashless payment market.

"Kenya and the East Africa region are a highly attractive market for us," executive chairman Paul Edwards said in a press statement. "We expect to see a significant push towards a more cash-less society and a higher standard of electronic banking services."

The company offers payment through cards, mobile, e-commerce and a range of e-government services, such as national ID with payment capability, subsidy management and social welfare payments, it said. It also operates offices in Lagos, Johannesburg, Cape Town, Amman(Jordan) and Dubai.