SAVINGS:THE KEY TO INVESTMENT

PRESENTATION BY WILLY BETT KENYA POST OFFICE SAVINGS BANK (POSTBANK)

KENYA – COUNTRY PROFILE Kenya is bordered to the north by Sudan and Ethiopia,to the east by Somalia, to the west by Uganda, to the south by Tanzania and to the South East by the Indian ocean It covers an area of approximately 224,960sq miles Currency: Shilling Languages: English and Kiswahili

COMMERCIAL CITIES Nairobi is the capital city and largest commercial center in East Africa and houses two UN Agencies,UNEP and Habitat Other major cities include Mombasa which is Kenya ’ s main port and popular holiday city, Kisumu, Nakuru and Eldoret.

POPULATION AND CLIMATE It has an estimated population of 31 M Kenyans dispersed around the country. 25% of this is concentrated in the large cities of Nairobi, Mombasa, Kisumu and Nakuru. Kenya ’ s warm climate is favorable for tourism during the drier season that is between September and March

POSTBANK : BACKGROUND Postbank is the only savings bank in Kenya established to mobilize savings for national development. Savings services started in 1910, operated under the postal services provider. Pastbank incorporated in 1978 under its own Act CAP 493 B of the laws of Kenya.

ROLE OF POSTBANK IN THE KENYAN ECONOMY Mobilization of savings. Facilitation of Micro Enterprise Financial Flows.

MOBILIZATION OF SAVINGS 1910Ordinary Savings Accounts 1978Premium Bonds 1981Save As You Earn 1983Fixed Deposit 1991Premium Savings 2000 Bidii Savings

FACILITATION OF MICRO ENTERPRISE – Research – Capacity building – Rural Banking

Financial Flows: Western Union Started in post Bank in 1995 as an agent of Western Union Financial Services International Is a major foreign exchange earner in Kenya Facilitated local investment by Kenyans in diaspora

BENEFITS OF THE SERVICE Speed-The fastest way to send money worldwide Reliability- transaction protected and assured to the right payee Trust- Millions of customers around the world Convenience-More than 190,000 locations in some 200 countries.

CONCLUSIONS Savings facilited Investment Postbank continues to develop savings and remittance services that are affordable and convenient to customers both locally and in diaspora.

Asante Sana Thank you