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STAKEHOLDERS TO STRATEGISE ON POSTAL SERVICE REMITTANCES

By NBF News
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FINANCIAL institutions, mobile network operators, technology providers, agent networks and other stakeholders are to deliberate matters on the future mobile payments, at the Mobile Remittance West Africa summit, slated for January 25 and 26.

According to the organiser and Principal Associate at MobileMoneyAfrica, Mr. Emmanuel Okoewale, 'mobile payment presents a safe and convenient channel to take banking and payment services to millions, with its cost-effective benefit. We are excited at the role of the postal service and we believe they have the experience to make it happen. Nigeria is about the join the likes of Mpesa in Kenya and GCASH in Phillipines, where the mobile is proven and tested channel for delivering basic financial services.'

The Post Master General of the Nigerian Postal service, Mallam Ibrahim Mori Baba, will deliver the keynote address to the gathering while delegates from approved providers will be presenting their solutions and exploring opportunities in the new ecosystem with a focus to bringing formal financial services and remittances to Nigerians in a cost effective manner in a country with over $10 billion in formal remittances.

Leading players in the Nigerian financial ecosystem will evaluate present obstacles to providing efficient services and will proffer sustainable solutions. Speakers from EcoBank, Fortis MobileMoney, TxtPay Ghana, eTranzact, MoneyGram, Medallion communications, Roamware, UTIBA, GTS infotel, MMIT, Hendomark, SugarAnts, UBA Uganda and a host of others are expected to speak at this regional event.

Mobile financial services is significantly improving access to formal financial services all across Africa where bank penetration is concentrated in urban and semi urban areas, millions are still excluded from formal financial services.

The Postal service presents ready and well-networked branches across the Nigeria for delivering formal financial services to currently unbanked populations across in Nigeria. The Central Bank in Nigeria is actively licencing mobile financial providers in Nigeria, a country with 140 million people, 70 million bank accounts and 70 million mobile subscribers.