Guest contribution by Hans Boon
New initiatives are seen in South America: in Ecuador and Uruguay the Posts have entered into new partnership agreements with banks to mobilize small savings and collect or distribute payments, while Brazil’s ECT Correios has launched the selection process for the strategic partner of Banco Postal.
In Africa the developments in postal financial inclusion are on the fast lane: in Botswana the Post and Savings Bank will merge in summer, in Kenya the Postbank will be incorporated, and the Post looks into new strategies to revamp, in Zambia the Post will help in providing banking to the rural poor, while the South African Postbank prepares for stepping into the business of lending.
Application of innovative ICT technologies supports Pos Indonesia in its money transfer services and in Israel to provide cash inside and outside the post offices.
A hot issue is also expansion of financial services and modernization through private sector participation: in Viet nam through the creation of the Lien Viet Post Bank with the Post being a shareholder, in Kenya through a 44% share of Post in Postbank,in Serbia Posta aims at an increased share in its Postal Savings Bank and in Kazakhstan decisions have been made for a “people’s IPO” of KazPost.
This and other news from emerging and transition markets around the world is presented in the 5th issue of “Post Financial Times”, based on recent news clippings and interviews. Download it here!