Zimbabwe’s premier logistics company, CourierConnect has expanded into the customs clearing space to link with its courier business while riding on the expertise and capacity of its technical partner.
The technical partner, to be disclosed at a later date, has more than 50 years experience in the clearing business and has “large storage and warehousing facilities”, according to board chairperson Advocate Tatenda Pfigu.
In an interview after opening the Customs Clearing Services Bureau of Zimbabwe doors Thursday, Advocate Pfigu said the new baby is expected to become the key player and contributor to CourierConnect revenue. “We expect the clearing business to be our cash cow because for this business clients pay upfront before they collect their goods.
Already we are in the courier business there is a lot of clearing that is done. We are so excited about this business. “The business will involve clearing, warehousing, packaging and storage and today (Thursday) we have opened our doors to transact with members of the public but the official opening will be done by Government. We have come in to test the waters in terms of our strategy to diversify in order to ensure revenue and profit for our shareholder,” Advocate Pfigu said.
Some of the board members who attended the opening of the Customs Clearing Services Bureau of Zimbabwe include acting vice chairperson Dr Itai Muzvidziwa, and Noah Ziumbe together with CourierConnect managing director Isaac Muchokomori. “We have capacity through our strategic partnership with our technical partners whom we will disclose at the official opening.
“But our strategic partner has experience dating back as far as 1968 therefore we have access to their warehouses, storage facilities and expertise to drive business,” she added.
CourierConnect is licensed for both the domestic and international courier businesses and is a member of the Universal Postal Union’s Express Mail Service (EMS) Co-operative which allows the company to receive and send international mail to-and-from more than 700 000 postal outlets, the world over
Expanding into the clearing space is part of the logistics company strategy to diversify revenue streams.
Also as part of the strategy, CourierConnect last year launched the first Government owned travel bureau the Civil Service Travel Bureau which Advocate Pfigu said is doing well but is in the market to raise funds to finance payments to IATA. “CSTB is doing quite well in terms of the product life cycle that is expected.
The business is around a year and so far it is contributing about three percent per annum to revenue and we expect that contribution to rise to about 18 percent per annum if we get the funds that we are looking for.