Kenya Post expands banking services
The Postal Corporation of Kenya has announced that it will be expanding its banking services to 470 post offices around the country. Services available include the ability to withdraw up to Sh1m, as well as making balance inquiries and pay bills including school fees and utilities.
Enock Kinara, Kenya’s Postmaster General, said: “The partnership being launched today will facilitate National Bank customers to make cash deposits, cash withdrawals and account balance inquiries among other services at Posta outlets, on the Post Pesa platform. All of the Postal Corporation of Kenya’s 470 outlets in the country will be agents, NBK bank branches.”
Munir Ahmed, the National Bank chief executive, said: “We will take our relationship with Postal a notch higher to offer financial services to most Kenyans through the partnership we have signed today.”
The expanding banking access provided by Kenya Post underlines the role post offices can play in improving financial inclusion around the world. Global analysis issued this time last year by the Universal Postal Union said that poor and less educated people are more likely to get their financial services from a post office than a bank.
Kenya Post has been providing banking services for Kenya Commercial Bank customers since March.
The services have been made possible by a new e-payment system the postal service launched in July 2013, PostaPesa.
“Electronic payment has seen Postal services grow in great strides all over the world and Posta Kenya has not been left behind,” said Kinara.
