BotswanaPost opens Malawi money transfer corridor
Staff Writer | Thursday June 15, 2017 15:47
The new money order transfer corridor will accord customers from Malawi and Botswana the chance to send and receive money hassle free.
According to BotswanaPost’s acting marketing and communications general manager, Joyce Manase-Ntau the addition of the Malawi corridor now increases the number of countries that BotswanaPost has interpostal relations of sending and receiving money with to five.
The other four countries where the service is being offered include South Africa, which was done in collaboration with South African Post (SAPO), two years ago; Zimbabwe, which was done about three years ago in collaboration with ZimPost, as well as Lesotho, and Swaziland, which was launched last year.
“The Malawi corridor service has already attracted a significant number of outbound transactions after going ‘live’ on 1st May, 2017 and we anticipate it to be a strong contender in the market in the coming months,” said Manase-Ntau.
BotswanaPost said it has also pegged the Malawi corridor with prices that are competitive and beneficial to the customer. The corridor offers customers a platform to send or receive up to P5,000 from as low as P28.20 per transaction.
Manase-Ntau also noted that the existing corridors have been performing well with Zimbabwe being the best performer. The initiative is under the Universal Postal Union-enabled International Financial Services (IFS) platform. The IFS is a stand-alone application that automates the processing and management of international and domestic money orders.
She added that the development is testament to BotswanaPost’s commitment to reinvigorating itself and offering products that are relevant and convenient to the general market.
As part of their expansion efforts, Manase-Ntau said they are in talks with Kenya and Nigeria to open another corridors.
“We are still in negotiations with other countries which includes Kenya as we are at advanced stage as well as Nigeria. We chose these countries looking at the market intelligence, like what is most likely to be a profitable venture,” she said.
Earlier BotswanaPost 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 or leisure.