Equity : Bank set to disburse “Inua Jamii 70 years and Above” payments

Equity Bank set to disburse 'Inua Jamii 70 years and Above' payments

Equity has kicked off a countrywide recruitment drive for registered senior citizens at branch level and various field locations.

Tuesday April 17, 2018… Equity Bank has been selected by the government together with three other financial institutions to disburse payments for senior citizens in the newly established Inua Jamii 70 and Above Cash Transfer Programme. The new scheme targets individual Kenyan Citizens who are 70 years and above to start receiving bi-monthly cash allocations from the National Government.

The Bank has rolled out a registration process to sign up the selected senior citizens into the programme, where they will get an account and an Equity Bank Inua Jamii smart card. The card, which uses biometric authentication, will enable enrolled beneficiaries access funds issued by the government through the Bank's branch network and identified agents strategically located across the country.

The initiative, which is part of National Social Protection Policy (2011), has expanded the benefits of Older Persons Cash Transfer Programme to include citizens who are 70 years and above. The programme aims at delivering unconditional social assistance in terms of cash transfers of Ksh 4,000 every 2 months to 500,000 senior citizens across the 47 Counties and is in line with the Kenya Vision 2030 aim of providing a high quality of life for all its citizens by the year 2030.

Equity Bank's Special Projects Director, Mr. Allan Waititu, said that targeted beneficiaries should visit the nearest enrolment stations in addition to Equity Bank branches to register and open accounts.

'We will offer multiple solutions in a single card that will benefit the senior citizens enrolled in the programme. With the cards, beneficiaries of Inua Jamii 70 and Above Program will be able to access their cash allocations and use the card to purchase goods and access services,' added Mr. Waititu.

Some of the benefits that the beneficiaries will be able to enjoy include free first two withdrawals, free first ATM card, two free balance enquiries after every payment cycle, unlimited access to Equity Bank's mobile banking, zero opening balance, zero account maintenance balance, among others.

'With our countrywide reach of over 177 branches and 30,000 agents, the Bank will offer convenient means of access to funds for the registered beneficiaries. This initiative aims at enhancing convenience, security, accessibility and efficiency as well as accountability process,' said Mr. Waititu.

The Bank has since November 2011 successfully implemented CT-OVC (Cash Transfer to Orphans and Vulnerable Children) which targets households living with Orphans and Vulnerable Children under the Inua Jamii programme across the 47 Counties in Kenya.

In addition, the Bank has successfully implemented the Hunger Safety Net Programme (HSNP), which to date has benefited over 370,000 households. The programme is targeted at distributing humanitarian aid to households in the arid areas of Northern Kenya in form of cash transfer to deepen financial inclusion through movement of people from food aid, to more sustainable forms of socio-economic development.

' We will use the experience gathered while implementing Social Payments as a stepping stone to successfully roll out the Inua Jamii 70 and Above programme to senior citizens across the country,' added Mr. Waititu.

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