Equity Bank has kicked off a countrywide recruitment drive for registered senior citizens at branch level and various field locations under the Inua Jamii initiative.
Equity was selected by the government together with KCB, Post Bank and Cooperative Bank 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.
Treasury allocated Sh6.7 billion to kick-start the scheme in January covering the first half of the year to June.
It is estimated that the population of older persons aged 70 and above at 500,000. To qualify for the Inua Jamii scheme, senior citizens ought to have been born before 1947 and with valid first generation identification cards.
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. It aims at delivering unconditional social assistance in terms of cash transfers of sh4,000 every 2 months across the 47 Counties.
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.
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.