Home » Business » ZIMBABWE’S POSTAL SERVICE REPORTS HIGHER REVENUE

Zimbabwe's postal service, Zimpost, has reported a 9.2 per cent jump in revenue to 4.7 million US dollars for the second quarter of 2016 compared with the first quarter, boosted partly by a rise in domestic and international incoming mail.

According to the second quarter report by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz), the total number of postal items sent locally increased by 3.1 per cent to 1.6 million while international incoming items surged nearly 10 per cent to 431,823 items.

"As e-commerce booms, international packages conveyed by postal operators are expected to increase," Potraz said. "However, for Zimbabwe this increase may only apply to international incoming and not international outgoing mail since there are fewer foreigners purchasing local products than locals purchasing foreign goods."

During the quarter, parcels sent from Zimbabwe slumped a massive 35.6 per cent to 32,708 from 50,769 in the previous quarter.

A total of 226 post offices were operational in the review period, with 143 being in urban areas while 76 are in the rural areas and seven are mobile offices.

Zimpost remains the dominant player in the postal sector and it has over the years widened its revenue streams by entering into joint venture and agency agreements with a number of service providers as new technologies continue to affect the performance of the sector.

The company is also running a money transfer service, Zipcash which is slowly becoming a major revenue earner for the group.

Data from Potraz has shown that revenues generated by companies in the postal and courier services sector have been on a consistent decline since 2010.

Source: NAM NEWS NETWORK

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