LOCAL postal services courier Zimpost says it is targeting a 10% increase in volumes and a US$320 000 rise in total turnover on its mobile platform Zipcash in 2018 driven by the ongoing renewed Christmas promotion and regional engagements.
By Melody Chikono
Although Zimpost Zipcash offers comparatively lower rates than other market players, its market share has been relatively low on the back of limited awareness of the product.
Zimpost acting MD Chief Moyo said his company was working on various initiatives to increase market share.
Primarily, Moyo said, Zipcash is being driven by high transaction inflows from Botswana and high transaction outflows to Tanzania as motor vehicle purchases have been high.
“We are projecting a 10% increase in volumes of business from Zipcash and on the domestic market we are targeting a US$20 000 increase and US$300 000 on international transactions.
“We are currently in negotiations in Namibia, Swaziland and Mozambique hoping to meet agreed terms and interviews,” he said.
In the year to September 2017, Zipcash transacted in excess of US$324 000 in domestic issued and paid transactions while Zipcash inbound transactions amounted to US$187 000.
These figures reflect a decline in performance as the platform was handling over US$4 million in transactions every month in 2015.
Although comparable figures for the last period were unavailable by the time of going to print, Moyo said the facility was performing well in the current circumstances in the face of the cash crisis.
“We have come up with innovative ways of allowing our customers to swipe for domestic transactions, however for out-of-Zimbabwe transactions we require cash up front.
“We then transmit that money technically,” he said.
Zimpost has linkages with South Africa, Botswana, Lesotho, Tanzania and Nigeria.