Innovative Money Transfer For Diaspora

By Godlove BAINKONG, Cameroon Tribune, 02-10-2013

A 36-month European Union funded project “PlaNet Finance” was launchedon Wednesday.

Poor populations in Cameroon, Ivory Coast, Burkina Faso and Mali, initially excluded from classical banking services now have a new tool through which they can benefit from these services at reduced cost, gain access to loans as well as insurance services.

This is through a 36-month European Union-funded project, “PlaNet Finance” a provider of services for financial inclusion that officially went operational in Yaounde yesterday October 2. It will help to create and develop revenue-generating activities and protect from life’s risks.

Officially launching the over FCFA 1.377 billion project, Posts and Telecommunications Minister, Jean Pierre Biyiti-bi Essam, said providing financial services to the population deprived of classical banking opportunities and helping migrants to channel home their money through official sources, would be another way of boosting socio-economic development.>>>