Friday, May 24, 2024

BotswanaPost processed over P16million in money order transfers

BotswanaPost has announced that since the money order transfer service went live in 2014, they have processed inbound and outbound transactions worth over P16.6 million. The company also expressed optimism that the diversification strategy they introduced has been very effective and is achieving their set targets.

According to BotswanaPost Head of Strategy and Communications, Lebogang Bok, “of the total, Zimbabwe bound transactions in conformity to our expectations account for just over 93.2 percent, South Africa following second at just below the 6 percent mark and the new entrance occupying at about 0.11 percent of the total activity.”

She also said, “inbound transactions trail continues on a steady increase with South Africa accounting for 83 percent – being just under P1.85million – of incoming money order transfers.”

Botswana Post launched the money order transfer service in South Africa and Zimbabwe in the first quarter of 2015. On June 1st, 2016, the Postal service also launched another inter-postal money transfer corridor with postal services in Swaziland and Lesotho, bringing to four the postal options for sending and receiving money. The latter is meant to bridge and expand the corridor network in the SADC postal entities which aids in easier access for people travelling in the bloc. The initiative is under the Universal Postal Union-enabled International Financial Services (IFS) platform – a standalone application that automates the processing and management of international and domestic money orders.

Bok also said BotswanaPost anticipates a significant leap in the performance of the service to the new market entrants ÔÇô Lesotho and Swaziland ÔÇô as the festive season approaches. As for their long-term plans, Bok said “the plan is to shift our attention to East Africa and North Africa. Significant progress has been made so far and before long we will be at implementation stage,” she says. 

According to Botswana Post, a customer can send or receive up to P5 000 per transaction, per day at any Post Office in Botswana, South Africa, Lesotho or Swaziland.


Read this week's paper