BotswanaPost adds new transfer corridor
Pauline Dikuelo | Friday July 22, 2016 13:11
The new money order transfer corridor will accord customers from the two countries the chance to send and receive money hassle free.
Effective last month, all parties were ready to accept the first transaction which has shown a progressive trend on the upswing as the service gains traction and acknowledgement especially on outbound transactions to both destinations.
According to BotswanaPost head of strategy and communications, Lebogang Bok the commendable performance is observed against the backdrop and understanding that both countries possess a robust financial service sector.
“As we approach the festive season, it is without doubt that projections confidently indicate a significant leap in the performance of the service to the new market entrants, Lesotho and Swaziland outbound,” she said.
The new corridor follows the successful transfer between South Africa, which was done in collaboration with South African Post (SAPO) last year and the Zimbabwe money transfer corridor that was launched about two years ago in collaboration with ZimPost.
Out of the P16.6 million that has been collected through the money order transfer since its inception about two years ago, Zimbabwe bound transactions in conformity has accounted for just over 93.2% of the transactions followed by South Africa below the expectant mark occupying 0.11% of the total activity. The inbound transactions trail, continues on a steady increase with South Africa accounting for 83% being just under P1.9 million of the incoming money transfers.
“This is the business that would have gone elsewhere and is proof that the diversification strategy of the BotswanaPost business is providing effectual with the right level and amount of support,” she said.
In addition, Bok said their long-term plan is to now shift their attention to east and north Africa riding on the backdrop of several bi-lateral agreements Botswana has established with other governments.
“Significant progress has been made so far and before long we will be at implementation stage,” she said. Bok further stated that this is one of their efforts to grow the corridor network to all SADC postal organisations as they realise the niche to facilitate easier market access to services for their customers travelling throughout regional destinations on either business and leisure.