With support from the Dutch government, The Sierra Leone Postal Service (SALPOST) in collaboration with the Office of Diaspora Affairs (ODA) and the Ministry of Information and Communications (MIC) has launched the Universal Method of Value Access (UMVA) Post Platform.
The UMVA Post platform which was launched on the 16th June 2016 during the occasion marking the International Day of Family Remittances at the Bank of Sierra Leone Complex, Kingtom attracted a range of high level government officials, representatives of multilateral institutions, micro finance institutions, the private sector, NGOs civil society and Diaspora Organizations.
The Post UMVA remittance service aimed at bringing together Diaspora and their families facilitates communication and e- banking linking them to the government of Sierra Leone, its Embassies Micro finance institutions and other organizations that can be of interest to the remittance senders and beneficiaries.
In his statement, the Director Office of Diaspora Affairs (ODA), Mr Kallay Musa Conteh underscored the role of ODA in harnessing Diaspora resources for national development. He also stated the importance of remittances to the development of Sierra Leone : “Apart from official Aid, Financial remittances provides for many marginalized African countries including Sierra Leone the much-needed support in Health, Infrastructure , Education, Farming and basic consumption to families, extended families and local community groups. During natural disasters like Ebola, the contribution from Diaspora communities effectively provides a form of insurance to families and countries to cope”.
He said ODA and SALPOST with support from AUXFIN in the Netherlands are taking this opportunity to launch the UMVA platform to salvage the high cost of sending monies back home from the Diaspora. Adding that, to a very large extent this will help us bring back remittances in the informal sector back to the formal banking sector and boost up the monetary policy of the country.
According to the Consultant Managing Director of SALPOST, Mr. Samuel Koroma, 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, thereby bringing the possibility to get extra investment funds from the Diaspora” he explained. He added that UMVA is not all about financial inclusion; it also has a social inclusion aspect.
Ambassador Dauda Sulaiman Kamara, special adviser to the President, who delivered the keynote address on behalf of HE Ernest Bai Koroma, thanked all those involve in the project including AUXFIN from the Netherlands. “Our government will strive to implement such programme, through the Office of Diaspora Affairs, we will use such existing structure to mobilize and engage the Diaspora on this good initiative” Ambassador Kamara promised.
Statements were also made by several stakeholders including the Chief Operations Officer of AUXFIN Mr. Marco Van Andel, the Chairman of the Sierra Leone Central Union Abubakarr Bangura, Mr. Hans Boon Senior Expert on postal and Remittances at IFAD, the World Bank Country Director Etc.
This article first appeared on exclusivenewspaper.com