Western Union Announces a Strategic Relationship with the BANK OF AFRICA Group

Western Union® Financial Services Inc., a global leader in money transfer services, today announced a strategic relationship with BANK OF AFRICA Group to provide money transfer services to its customers across eight African countries.

BANK OF AFRICA Group is one of Africa’s best-established commercial banking groups with a current presence in Madagascar, Benin, Mali, Niger, Burkina Faso, Kenya, Senegal and the Ivory Coast. Its large customer base will now benefit from Western Union’s fast and reliable money transfer service. Mr. Khalid Fellahi, Regional Vice President of Western Union for Africa, said: “We are pleased to welcome BANK OF AFRICA Group into the Western Union Agent network in additional countries across Africa. With a dedication to serving their customers and continuously expanding their location base, BANK OF AFRICA Group offers Western Union® customers a convenient means to support their loved ones left at home, attesting to Western Union’s commitment to be where our customers work, shop and live.”

“There are many Africans that have left their home countries in search of a better life and who rely on money transfers to support their loved ones who remain at home, so it is important for Western Union® to ensure that we expand our presence in Africa to ensure increased convenience for their relatives. Our cooperation with BANK OF AFRICA Group allows us to get closer to our customers and we are looking forward to rolling our services out across BANK OF AFRICA Group locations, this enables Western Union, together with its affiliates Orlandi Valuta and Vigo, to extend our services to a new group of people who are looking for fast, reliable and convenient ways to send money around the world, pay bills and purchase money orders through a network of over 270,000 Agent locations in more than 200 countries and territories. We are looking forward to BANK OF AFRICA Group positively contributing to the growth of our business on the African continent and further enhancing our position as a leader in the money transfer business,” he said.

Commenting on the recent signing, Mr. Paul Derreumaux, Group President for BANK OF AFRICA said: “Our Group is a truly efficient financial institution and well established on the African continent with a branch network already spanning eight countries. Entering into an agreement with Western Union® has been the natural choice to provide fast, reliable and secure money transfer services to our customers across all countries where we are present. In a number of countries BANK OF AFRICA Group already offers the Western Union Money Transfer® service and we have seen the positive response of our customers to this vital service, which is why we have chosen to gradually extend the service across our entire branch network in 2006. BANK OF AFRICA Group joining forces with Western Union® shows our commitment towards our valued customers, be it expatriates or nationals, and will provide a link to those who seek to transfer funds to friends, family and loved ones living on the African continent and around the world.”

With a presence in 46 countries in Africa and more than 9,000 Agent locations, Western Union® is continually furthering its commitment to provide a fast, reliable and convenient money transfer service across the African continent.