Shooting in monochrome and raw: will I get colors back in post processing?

As in the title, if I select monochrome in my camera and save both raw and jpeg is there a way to retain the original colors or the raw file will only have black and white?

In post processing I would like to open the raw file and have the color image using of course some post processing program. Camera is a omd-em5 but I think is a general noob question.