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Sierra Leone News: SALPOST to Launch Post UMVA Platform

SALPOST Managing Director Samuel KoromaThe Board and Management of the Sierra Leone Postal Services (SALPOST), in collaboration with the Office of the Diaspora and the Ministry of Information and Communications, will on Thursday June 16, 2016, the International Day of Remittances, launch the POST UMVA Platform at the Bank Complex, Kingtom in Freetown.
The POST UMVA platform at SALPOST head office in Freetown intend to bring diasporans and their families in Sierra Leone together, provide free online education to remittance senders and their families, mobilize the savings, and increase the flow of funds into the economy of sierra Leone and provide other targeted services.
The event at Bank Complex will consist of a dynamic debate among key stakeholders and experts with the goal to outline a national remittance strategy to leverage diaspora remittances on POST Ebola recovery, followed by an interactive demonstration of POST UMVA.
The installation of the POST UMVA platform at SALPOST head office by AUXFIN came as a result of support by the Dutch Government following a meeting at the “Back to Growth” conference in The Hague. The Netherlands with Vice President Victor Bockarie Foh, Sierra Leone’s Ambassador to Belgium Ibrahim Sorie and the Director of SALPOST Samuel Koroma.
The Managing Director of SALPOST said the POST UMVA platform will enable members of the diaspora to get a transaction account which will enable them transfer funds to Sierra Leone at a very low cost. “This process will lead to large financial flow for SALPOST and lower transaction cost for members of the diaspora, bringing the possibility to get extra investment funds from the diaspora in Sierra Leone,” he said.
The UMVA platform is expected to bring huge benefit to Sierra Leone and deliver the theoretical value of an extra US$140 million investment by the diasporas into Sierra Leone.
The POST UMVA platform also intends to contribute to social and economic development in Sierra Leone; support and organise individual small-scale development project; and formalize the informal flow of money to Sierra Leone.
Tuesday June 14, 2016

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