Western Union initiate talks with BoG
Western Union (WU), one of the world’s biggest money transfer companies, has initiated talks with the Bank of Ghana as it seeks to have the opportunity for Ghanaians to remit money to other countries.
Presently, Ghanaians are only able to receive money through the company but are unable to remit to other countries.
The President for Western Union Africa, Mr Jean Claude Farah, who announced this in Accra last Tuesday, said discussions with the central bank of the subject were far advanced.
Mr Farah said this when Western Union celebrated its 20th anniversary in Africa this week.
He said this was part of Western Union’s commitment to the expansion of its pan-African network which provided a critical link to the ever growing African diaspora living and working around the world.
“By moving money for 20 years, WU is enabling a world of possibilities for Africa and in Africa,” he said.
The Vice-President of WU, Africa, Mrs Aida Diarra, also added that, WU, through its work, has enabled economic activity and job creation.
“Currently, over 155,000 Front Line Associates (FLAs) are employed in our agent network on the African continent. WU invests in training these FLAs by developing their business, technical and compliance skills,” she added.
She said it had also been giving back to communities across the African continent through the Western Union Foundation, which has committed over $8million in grants and donations to 158 non-governmental organisations (NGOs) in more than 40 countries across Africa.
As part of its 20th anniversary celebration, WU also unveiled a plaque at the Head Office of the Agricultural Development Bank (ADB), and also launched an Account Based Money Transfer Service (ABMT) at Ecobank’s Head Office in Accra.
The ABMT is a product that will allow Ecobank customers with online banking facilities to send money from their accounts to friends or relatives at Western Union Agent locations and territories (account-to-cash).
Conversely, consumers, including Ghanaians working and living overseas, will be able to make cash transfers from any Western Union location to Ecobank online banking-linked accounts.
The Managing Director of Ecobank, Mr Samuel Ashitey Adjei, said the introduction of the ABMT would ensure real synergies in its relationship with WU.
He said for Ecobank, this would translate into free customer acquisition, real time deposit mobilisation, the decongestion of its banking halls and enhanced service delivery.
Mr Ashitey Adjei also called for a transformation that would strategically position both institutions as dominant financial service providers in Ghana, providing its customers with greater convenience and better services.