A Seventh Agent in Cameroon: Western Union expands its network by signing with Cameroon Post (CamPost)

Western Union, a worldwide leader in money transfer services, announces the expansion of its network in Cameroon with the launch of its new Agent Representative: the Cameroon Post Office (CAMPOST). This helps Western Union improve its distribution in Cameroon. The Cameroon Post is one of six other Agent Representatives: Cofinest; Société Générale de Banque au Cameroun; Banque Internationale du Cameroun pour l’Epargne et le Crédit; Crédit Lyonnais Cameroun; Ecobank and Commercial Bank of Cameroon.

This new signing is an important milestone for Western Union Africa taking into consideration that Cameroon is a key market in Africa. The Post Office network, widely present in Cameroon, started in August 2006 offering the Western Union Money Transfer® service in 7 locations. Twenty-Five locations are expected to offer the service before the end of 2006 with a total potential of 150 Post Office locations.

Through the expansion of the Western Union network, more people will be able to conveniently access a fast and reliable money transfer service. The cooperation with CAMPOST will increase the number of locations and will enable Western Union to approach traditional mail service customers with their product. On the other hand, CamPost customers – especially in the countryside – will benefit from the extra convenience and ease of collecting money sent from family and friends abroad in the postal branches closest to them.

Stanley Wachs, Western Union Regional Director for Central Africa says: “We are pleased to cooperate with such a institution. This new Agent relationship will help us expand our network and provide Cameroonians living abroad with a reliable and fast way to send money to their loved ones. With over 170 Agent locations in Cameroon today and with the addition of the Cameroon Post Office, we are bringing our money transfer service closer to the people of Cameroon.”

Khalid Fellahi, Regional Vice President for Africa, is proud that a new Post Office has joined the Western Union network in Central Africa: “We are particularly pleased to welcome the Cameroon Post Office to our Agent network.