ZIMPOST EXCEEDS REVENUE TARGET, EYES 10% GROWTH
State owned postal services, Zimpost, last year exceeded its revenue target of $22 million and this year aims to grow it by 10%, the company’s acting managing director, Sifundo Moyo, has said.
Moyo told NewsDay in emailed responses that the company was poised for growth in 2018 after performing above expectations last year.
“In total, Zimpost exceeded its revenue targets. Now the thrust is to work on the product mix to give more emphasis on high margin products and services. The budget for 2018 is set above what we achieved in 2017,” Moyo said.
This year, Moyo said, the company targets to grow revenue by 10%, compared to last year’s figures.
“Zimpost is working to be the next generation post office that will deliver world class services to Zimbabwe by ensuring that the company moves with the times and adopt new ways of doing business in this digital ear,” he said.
Moyo said the company recently set up a virtual post office which is an online customer portal that allows customers to make general enquiries about products and services offered in the post office.
Customers can also transact online on some of the services, as they would normally do when they visit the post office physically, he said.
Last year, Early 2017, Zimpost indicated that it was facing working capital challenges and a growing debtors’ book, as more and more were taking long to pay up for services rendered. But Moyo told NewsDay that the situation had improved now.
“The debtor’s book has not been static. There have been some positive movements as we had creatively found a solution to the growing debtor’s book. Among other tactics, we entered into tripartite set-off arrangement that involved some of our creditors and debtors resulting in a significant reduction on amounts owed to Zimpost,” he said.
Moyo said the money transfer service — Zipcash — has not experienced growth to the levels that had been anticipated mainly, because the South African corridor has not been performing well.
“We are currently engaged in discussions with our South African counterparts so, that we can come up with measures that will increase visibility of this service,” Moyo said.
“However, we have recently concluded an agreement with Swazi Post for the exchange of international financial system transfers.”