Financial Information

• Posted By : oneafrica
• Posted On : Nov 28, 2013
• Views : 1131
• Likes : 1
• Category : Banks
• Description : Founded as the New-York and Mississippi Valley Printing Telegraph Company in 1851, Western Union continues to span distances with innovative technology. For more than 160 years Western Union has been operating in the Middle East and Africa (MEA) for 20 years, and currently has offices in Dubai, Islamabad, Riyadh, Casablanca and Johannesburg. As of September 30, 2013, Western Union has a network of approximately 515,000 Agents, with more than 43,000 locations throughout the region. Retail Agent locations include banks and financial institutions, post offices and general / mixed retail locations. The Middle East and Africa hold the world’s largest oil reserves, fueling many economies in the region, including Saudi Arabia, the United Arab Emirates, Nigeria and Kuwait. According to the World Bank, Saudi Arabia represents the second largest outbound remittance market, after the United States, and Qatar, the United Arab Emirates and Kuwait are among the top immigration countries, relative to population, with 87%, 70% and 69%, respectively. Whereas the Middle East is primarily an outbound remittances market, Africa is an inbound market, with 12 million Africans predominantly working and living in Europe, and sending remittances back to their native countries. With continuing economic development in Africa, many African countries that traditionally relied on receiving money are now playing a major role in cross-border remittances. In addition to the cash-to-cash international money transfer services offered at Western Union retail Agent locations in MEA, Western Union also offers: Account-Based Money Transfers (ABMT): Enables a consumer to send cash from a Western Union Agent location into the receiver’s bank account (cash-to-account). Consumers can also send money from a bank account (account-to-cash) via online banking or Western Union-enabled ATM locations in the region. ABMT services are available in South Africa, UAE, Qatar, Kenya, Nigeria, Tunisia, Democratic Republic of the Congo, Cape Verde and Afghanistan. Mobile Money Transfer (MMT): Mobile money transfer enables a consumer to send and receive cash from their mobile phone. MMT services are available in Kenya, Madagascar, Tanzania and Uganda. Retail-to-Account: This service allows consumers to send money to a bank account from select Western Union Agent locations. The service is currently available in Pakistan.
• Location : Johannesburg, South Africa
• Phone : +27 11 549 3310
• Website : http://corporate.westernunion.com/Europe_MiddleEast_Africa.html