Lesotho & Swaziland Money Order Transfer Corridor – Botswana Post

On the 1st June 2016, BotswanaPost announced the introduction of yet another Money Order Transfer corridor to Lesotho and Swaziland, in addition to the existing South Africa and Zimbabwe routes.
Whilst as at the 1st of June it was all-systems-go, it was not until the commencement of the 2nd week of 6th – 10th June that all parties were ready to accept the 1st transaction.
Now at almost a month since the launch, it is with excitement to report back that we are seeing a swift and progressive trend on the upswing as the service gains traction and acknowledgement especially on outbound transactions to both destinations – Lesotho & Swaziland. This commendable performance is observed against the backdrop and understanding that both countries possess a robust Financial Services Sector, and who would have thought that this Postal platform based transaction service to have made in-roads so quickly.
Since launch of the Money Order transfer service in 2014, we have to-date seen total transactions by value of P16, 6million. This is business that would have otherwise gone elsewhere, and is proof that the diversification strategy of the business of BotswanaPost is proving effectual with the right level and amount of support. Of the total, Zimbabwe bound transactions in conformity to our expectations account for just over 93.2% of the transactions, South Africa following second at just below the 6% mark and the new entrance occupying at about 0.11% of the total activity.
On the flipside, the inbound transactions trail, continues on a steady increase with South Africa accounting for 83% – being just under P1.85million – of incoming money order transfers.
As we fast approach the Festive Season it is without doubt that our projections confidently indicate a significant leap in the performance of the service to the new market entrants – Lesotho & Swaziland outbound.
The long-term plan is to now shift our attention to East Africa and North Africa. This, enabled and riding on the backdrop of several Bi-lateral agreements Botswana has established with other Governments – what President Kenyatta would call “intra-Africa trade”. Significant progress has been made so far and before long we will be at implementation stage.
Lebogang Bok
Head of Strategy and Communications
+267 3953131 / +267 71353310