African post offices in remittance reinvention

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A money exchanger counts Somali shilling notes on a street in Mogadishu.UN Photo/Stuart Price (file photo)

African migrants sent home more than US$65 billion last year; a figure that is projected to hit US$80 billion by 2020, according to the International Fund for Agricultural Development (IFAD).

The UN agency believes the continent's 26,000-plus post offices can serve as an important channel for that money to reach loved ones, particularly those living in rural areas.

IFAD has brought together representatives from national postal operators, private sector banks, governments, international organizations and others to look at ways to expand access to basic financial services to rural populations.

Dianne Penn has been speaking to Pedro De Vasconcelos, coordinator of IFAD's Financing Facility for Remittances, who is in Abidjan, Côte d'Ivoire, for the conference.

Duration: 5'31"

Filed under Today's Features.
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