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Africa: Western Union Agents Hit 20,000

Saturday, 25 September 2010 12:49

Source: Daily Guide Ghana
By: Felix Dela Klutse

Western Union, a leader in global money transfer business has announced that its coverage in Africa now exceeds 20,000 agent locations across 49 countries.

The landmark, according to a statement from the company, further consolidates its position as the continent’s largest financial service network.

Western Union first launched its services on the continent in 1995 in Ghana. Within the first year, it had extended its services to reach 10 countries.

Recently, a 25 per cent expansion rate over the second quarter of 2009 has seen the network grow from 15,000 to 20,000 agent locations in 12 months.

“Since its inception, network growth has been driven by a focus on consolidating relationships with existing agents, extending Pan-African group level agreements as well as introducing innovative, reliable services that meet the particular needs of customers sending and receiving money on the continent. In particular, Western union has introduced innovative methods for money transfer such as Mobile money transfers in Kenya and South Africa,” the statement added.

According to a 2009 report published by the International Fund for Agricultural Development (IFAD), remittances to Africa reach approximately $40 billion every year.

This figure exceeds official development assistance and in the case of many countries, foreign direct investment.

Khalid Fellahi, Western Union Senior Vice President for Africa commented: “Whilst this milestone is a great achievement and one which reflects the on-going global demand for Western Union services, we recognize that a large number of Africans still remain without access to financial services. In particular, there is a real opportunity to empower more people by offering money transfer services through different classes of trade such as retailers and microfinance institutions. “

Recent additions to the agent network include United Bank for Africa (UBA) in six countries and the addition of four new agents in Ethiopia.

The Western Union Company is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Custom House branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways of sending and receiving money around the world, as well as sending payment and purchase money orders.

The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of approximately 430,000 agent locations in 200 countries and territories.

In 2009, Western Union completed 196 million consumer-to-consumer transactions worldwide, moving $71 billion of principal among consumers and 415 million in payments.

Meanwhile, Western Union Ghana has presented 600 treated mosquito nets to two health institutions in the Greater Accra Region to fight malaria.

The beneficiaries- Tema General Hospital and Panthang Hospital, received 400 and 200 treated mosquito nets respectively and they are to distribute it to pregnant women free of charge.

“We at Western Union believe in giving back to the community in which we operate.  We are therefore distributing 300,000 treated mosquito nets throughout the country as a move to fight deadly malaria,” the Head of Western Union at Agricultural Development Bank (ADB), Anthony Kemavor has said.

Statistics available to this paper indicates that about three million cases of malaria are recorded in government hospitals every year and out of this figure, 900,000 cases are from children under five years.