For over three years the Kruah administration has been working exceedingly to ensure the establishment of a postal financial service, which is now on course undergoing testing.
On Friday, November 18, 2022, Minister Cooper Kruah inspected two of the testing windows at the main postal branches on Carey and McDonald streets and Randal streets to ensure the centers will create a healthy environment for customers.
The Minister of Posts & Telecommunications also revealed that President George M. Weah is in agreement for the ministry to establish a postal financial service.
In recent time MOPT signed a public private partnership (PPP) with a company, “Transxnd”. The company is believed to be a rapid money transfer service designed to provide a low-cost service within Africa and for Africans in the diaspora.
According to report, Transxnd operates on four major pillars: customer support, instant cashout, fully encrypted, and safe and secure.
Two years ago, Minister Kruah addressed the press during the Pan African Postal Union (PAPU) day celebration, stating, “The Ministry is currently working with the National Investment Commission (NIC) and other stakeholders for the establishment of the postal financial services and other electronic services at the Ministry of Post through a public private partnership (PPP).”
The provision of basic postal financial services contributes significantly to global economic and social development and plays an important role in improving living standards.
The postal sector is able to play a key role in the payment market and the financial inclusion of populations, diminishing consumer risk related to the use of informal networks and money laundering.
The Posts and Telecommunications Minister stated that the administration of President George M. Weah has taken steps towards the introduction of the postal financial service.
He reminded Liberians about the PAPU day’s theme, “The Post: A Veritable Partner for Financial Inclusion and Regional Integration”, and praised the union for being innovative and implementing several programs to enhance postal development on the Continent of Africa.