Western Union growing quickly in South Sudan
September 17, 2013, Wau
Money transfer major Western Union is quickly growing in South Sudan. The money transfer service is of immense help for the local residents who depend on money sent by their relatives abroad to buy basic amenities and supplies.
Western Union gained popularity amongst the local residents of Wau, the capital city of Western Bahr el Ghazal. There are four money transfer bureaus in the capital city that allows local residents to get money remitted from abroad in a matter of few minutes. Earlier, the residents had to wait for months to get cheques or remittances to get cleared and the funds become available because they vastly depended on the traditional banking channels.
Even businesses are finding the money transfer service easier. This is because unlike banks, money transfer services do not require hefty documentation such as to provide the proof of identity and address for the fund transfer to take place.
The money transfer service business is booming in the country. Even the Central Bank of South Sudan acknowledges of the growing use of money transfer services in the past two years and its role in boosting the financial sector of the country.