PAPU Strategy Conference Berne, SH April, 2015 PAPU Strategy Conference Berne, SH April, 2015 Dr....
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Transcript of PAPU Strategy Conference Berne, SH April, 2015 PAPU Strategy Conference Berne, SH April, 2015 Dr....
![Page 1: PAPU Strategy Conference Berne, SH April, 2015 PAPU Strategy Conference Berne, SH April, 2015 Dr. Enock Kinara, PMG - PCK.](https://reader035.fdocuments.in/reader035/viewer/2022062308/56649d025503460f949d588d/html5/thumbnails/1.jpg)
PAPUStrategy Conference
Berne, SHApril, 2015
Financial inclusion: An offer for a strong growing postal sector
Dr. Enock Kinara, PMG - PCK
![Page 2: PAPU Strategy Conference Berne, SH April, 2015 PAPU Strategy Conference Berne, SH April, 2015 Dr. Enock Kinara, PMG - PCK.](https://reader035.fdocuments.in/reader035/viewer/2022062308/56649d025503460f949d588d/html5/thumbnails/2.jpg)
Traditional Postal Financial Services• Postal Operators (POs) have over time engaged in
traditional Financial Services which included:– Money transfers (including ETFs)– Money Collections / disbursements
• Government / Institutions / Agencies
• This services were manual and relied on physical locations which POs had an advantaged due to USO mandate (large physical branch network)
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Need for Financial Inclusion in Africa• Traditionally African countries did not develop
uniformly creating a big financial divide between rural and urban areas
• There has been need for financial inclusion by these Governments for various reasons amongst them:-– Tapping in rural potential– Citizen rights and equalization– Formalization of the informal sector of economy etc…
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Postal Operators as a natural fit• Postal Operators are a natural fit due to various
factors – key amongst them:-– Still has wide area networks that can provide physical
point of contact for financial transactions (e.g. customer authentications (KYC))
– Has TRUST from citizens– Experience in cash management gained over time– An impartial facilitator for the various financial
institutions– Ability to lower the cost of transactions
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Operators Positioning
• Investment in enabling viable infrastructure (Hardware & Software)
• Partnership with Government Services• Create Networks beyond boarders• Petition for key success factors from
Governments
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Enabling InfrastructureInvest in technology that will lower the cost of automation and position Postal outlets & Agencies as a supermarket of Financial Services – Agency services (impartial and affordable financial inclusion)
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Government Partnerships• Position themselves as a
preferred Government partner in its financial programs e.g. Huduma Centers in Kenya
• Be able to facilitate private players in issuance of financial inclusion instruments e.g. payment cards through co-branding hence lowering barriers to SME / private sector participation
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Post financial network – beyond boardersPosts have the excellent opportunity especially in Africa to create an financial network for the unbanked through:- • Integration of IFS• Establishment of
regional hubs for switching• Avoid infrastructure &
resource duplication
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Critical success factors• Petition the Governments for:-– Enabling Legislation – Facilitate convergence of virtual & physical
networks through the National Addressing Systems
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Critical success factors• Redefine Universal Service Obligation (USO)– Provision of minimum affordable broadband /
data to citizen
• Aggressively address the digital divide through USF and equalization funds
• Encourage Shared infrastructure – Avoid resource duplication – Lower networks operational costs
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PAPUStrategy Conference
Berne, SHApril, 2015
Financial inclusion: An offer for a strong growing postal sector
Dr. Enock Kinara, PMG - PCK
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