|The African Postal Financial Services Initiative: A success story on remittances at the post office in Africa||Download|
The African Postal Financial Services Initiative (APFSI) was led by IFAD’s Financing Facility for Remittances in partnership with the World Bank Group, the Universal Postal Union, the World Savings and Retail Banking Institute and the United Nations Capital Development Fund, and cofinanced by the European Union. Its goal was to enhance competition in the African remittance marketplace through supporting and enabling African post offices in offering financial services. More specifically, it aimed at promoting a cheaper, faster, more convenient and more client-friendly transfer of remittances, particularly to rural areas, while fostering dialogue among stakeholders, regulators and policymakers. This report shows the key APFSI results, as well as its lessons learned and the way forward.