Barclays expands reach with Posta deal

Wednesday March 2 2016

Postmaster General Enock Kinara (left) with

Postmaster General Enock Kinara (left) with Barclays Chief Executive Jeremy Awori during the launch of the agency banking on March 3, in Nairobi. PHOTO | LILIAN OCHIENG  

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Barclays Bank of Kenya has struck a deal with Postal Corporation of Kenya’s (PCK) to offer services through Posta's 400 outlets spread countrywide even as it moves to allay fears caused by the exit of its parent company Barclays PLC.

The bank’s managing director Jeremy Awori said the deal sealed Wednesday will reduce the need to visit branches and deepen penetration.

Barclays says the deal will be rolled out in phases with 182 outlets first, followed by the 218 by the end of the year.

“Customers will be able to carry out transactions through the agency network and hence reduce the need to visit the branches. Moreover, with Posta network across the country, Barclays banking services will be more accessible to populations outside main urban areas,” Mr Awori said.

PCK Postmaster General, Dr Enock Kinara said, “the partnership is a clear testimony of our relentless drive to be a one stop shop for modern and technology oriented products and services for a sustained business growth going forward.”

Posta also has an agency banking deal with KCB, National Bank of Kenya and Chase Bank. The deals are expected to shore up Posta's dwindling revenues.