Tag: Retail Networks

United Nations Advisors Group aims to expand access to financial services for the poor and micro entrepreneurs

Leading financial experts from around the world gathered in Halifax, Nova Scotia on Thursday to discuss strategies for improving access of the world’s poor to loans, savings, insurance, remittances and other financial services. Currently two to three billion people are excluded from financial services worldwide, services that could have a dramatic effect on improving livelihoods and ending poverty.

It was the second official meeting of the United Nations Advisors Group on Inclusive Financial Sectors, which consists of 25 representatives from governments and policy makers, regulatory authorities, central banks, commercial banks, microfinance institutions, development organizations, donor agencies, academia and civil society. The Group is engaging the active participation from this broad range of participants.

The Advisors Group, which has a two-year mandate, provides advice and guidance to the UN and aims to help remove the barriers that prevent the poor from accessing a broad range of financial services on a sustainable basis. Its objectives are to address specific constraints that are limiting access to financial services, to explore and expand opportunities to broaden and deepen the financial services sector in countries worldwide and to firmly establish access to financial services as an integral part of the global development agenda.

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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.

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