Mmegi Online :: BotswanaPost narrows losses
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Last Updated
Monday 11 December 2017, 21:38 pm.
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BotswanaPost narrows losses

BotswanaPost continues to produce below par financial performance but managed to trim their losses to P12.9 million in the year ended March 31, 2017 financial results, compared to a P27.5 million losses in previous year.
By Pauline Dikuelo Fri 24 Nov 2017, 16:43 pm (GMT +2)
Mmegi Online :: BotswanaPost narrows losses








The Post attributed this to difficult economic conditions for the country as well as the general decline in traditional mail volumes.

Presenting their financial results recently, BotswanaPost chief executive officer (CEO), Cornelius Ramatlhakwane said they recorded a year-on-year revenue growth of 6.8% and revenues climbed to P457.7 million, the highest in history of the organisation.

“This sends a message to our stakeholders that we are continuing to grow and we are doing so even in the face of a slightly depressed economic environment domestically, regionally and globally,” he said.

However the CEO also noted that as an organisation, they need to think strategically in terms of where new revenue may come from. He said in the near future, the major growth opportunities for BotswanaPost will be realised through regional diversification which means creating revenue sources beyond borders through the provision of services like warehousing, logistics and transportation and money transfer.

According to Ramatlhakwane, as an organisation in October 2015, they embarked on a journey to find ways of becoming efficient, increasing their revenue as well as

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improving customer satisfaction. “We wanted to be relevant so we then had an operational efficiency scan where about 141 opportunities were identified. For each we documented the details involved, impact and whether it relates to process, tools or training and then embarked on a 12-month execution plan,” he said.

This then resulted in the Post coming up with a new strategy for 2017-2020 where they intend to achieve revenue of P660 million. According to Ramatlhakwane, their new strategy is also fully complaint with the Instanbul World Postal Strategy for 2017 to 2020 as defined by the Universal Postal Union (UPU) Congress of September 2016 that they attended. 

The event is held every four years to define and craft the future business direction of postal services worldwide. Apart from the usual deliberations and engagements about how postal services can be made better, the UPU develops a consensus document, which is designed to bring all postal operators around the world on board in terms of how they should be carrying out their mandates.

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