African postal and courier service providers have been urged to give precedence to digital finance in their operations should they desire to grow their businesses.
A Universal Postal Union International Bureau representative Mrs Gladys Mutyavaviri told delegates at a Digital Financial services workshop that digital finance is now a pre-requisite for all postal players.
By Kudakwashe Pembere
“Digital finance is a must all for all posts that want to modernise and grow their business. This means mobile-based or card-based remittances and payments,” she said.
She also noted the importance of postal operators to move towards digital finance instead of relying on the traditional ‘postal banks’.
Mutyavaviri mentioned the great strides made by African countries like Namibia which boasts of the highest rates of bank penetration on the continent backed by constant improvements and innovations happening in the postal savings bank there.
Digital finance has become a wide revenue stream for not only mobile network operators but postal and courier service providers in the world.
This can be seen with the contributions Zimpost’s electronic money order system called Zipcash made to the company as it facilitated $3 million in transactions.
Meanwhile, Zimpost feels that to expand their range of digital financial services they need to rejuvenate infrastructure. Zimpost, says the Acting CEO Chief Moyo is working on availing services such as being able to retail deposit to any bank account, do pinless airtime, electricity vending and any other bill collection.
“For Zimpost to be able to provide the services I have just outlined and even expand the range, there is need to modernise and upgrade its infrastructure,” he said.