The Universal Postal Union (UPU) announced it would roll out digital financial services projects reaching as many as 800,000 people and businesses across Africa, Asia and the Pacific under its Financial Inclusion Technical Assistance Facility (FITAF) in 2019.
Berne/Nairobi – UPU Director General Bishar A. Hussein today announced that the Posts of Benin, Côte d’Ivoire, Ghana, Kiribati, Nauru, Pakistan, Rwanda, Tonga and Viet Nam would be the first to benefit from the programme, which focuses on advancing financial inclusion and the digitization of postal financial services.
Speaking at a panel session titled “Boosting financial inclusion through mobile money” during UNCTAD’s Africa eCommerce Week in Nairobi, Mr Hussein said the UPU was “acting concretely to develop digital finance through the Post on the ground to the benefits of the underserved populations and businesses.”
“We are building partnerships with international donors and the private sector to support the Posts in their digital journey,” added the Director General.
According to the World Bank, 1.7 billion adults still lack access to formal financial services. One billion of those excluded are women. With more than 670,000 outlets reaching some of the world’s remotest areas, the Post is a perfect partner for expanding financial inclusion.
FITAF helps Posts build capacity to offer the digital financial services that can reach anyone, anywhere, anytime, giving citizens a safe place to keep their money and enabling small businesses to access the financing they need to grow and contribute to the economy. The programme also contributes to the 2030 Agenda for Sustainable Development by leveraging the Post’s role as a public services provider.
The projects announced will help four postal operators set up mobile financial solutions for payments, savings and insurance services, and five others to understand and explore the opportunities in digital finance.
Through FITAF, the UPU aims to implement 20 innovative digital postal financial services projects by the end of 2020. A second call for projects was also announced during the meeting.
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The Universal Postal Union is a UN specialized agency with its headquarters in the Swiss capital Berne. Established in 1874, it is one of the world’s oldest international organizations and is the primary forum for cooperation between postal sector players.
For further information, please contact:
David Dadge
Manager, Communication and Events Programme
Universal Postal Union (UPU)
Executive Office Directorate
T +41 31 350 31 23
E david.dadge@upu.int