Ghana post enhances money transfer

Ghana Post Company Limited intends to enhance its services in Africa and beyond through a project under the African Postal Financial Services Initiative (APFSI).

The main objective of the company is to reduce the cost and time involved in sending remittances on the African continent and beyond.

According to Samuel Adu-Boafo, Acting Managing Director of Ghana Post, the project would boost the services offered by Ghana Post in rural areas, as well as other countries.

Speaking at an event to commence the project in Accra recently, Mr Adu-Boafo disclosed that the project would be executed in collaboration with Universal Post Union, International Fund for Agricultural Development (IFAD) and the World Bank, among others.

“The point is that most of the remittances to Africa and within Africa are very expensive therefore other people use other means to remit money. IFAD, UPU and the World Bank saw that in order to reduce the cost of remittance to Africa and throughout Africa, they needed to help Ghana Post. This project would enhance remittances in Africa and outside Africa,” Mr Adu-Boafo said.

He added that Ghana Post was currently in talks with the Ministry of Communications and the Bank of Ghana (BoG) to obtain a minimum license.

Acting Managing Director said the World Bank and some of the partners for the project would provide Ghana Post with generators, computers, other accessories and funds to improve services in Ghana to reduce the cost of remittances.