Kiyapili Sibanda, Business Reporter
POSTAL and courier service provider Zimpost has set a target of snapping five percent market share this year through its Zipcash electronic money transfer platform.
Zipcash is Zimpost’s electronic money transfer service that is available at its more than 240 outlets around the country.
The company said the target would be achieved through expanding partnership with players in countries such as United Arab Emirates, Malawi and Uganda in its transacting network.
“Zimpost’s target is five percent of the market share by end of the year. Negotiations are underway with United Arab Emirates (UAE), Malawi and Uganda to enable the general public to transact with their partners in these countries,” it said.
The company also said it was engaging with a number of international money transfer companies in Lesotho, South Africa, Botswana, Kenya, Nigeria and Tanzania on possible expansion deals.
It said Zipcash has experienced growth since inception riding on lower rates on money transfers, which was attracting customers.
In February this year, Zimpost partnered with WorldRemit, a global remittance service player, as part of efforts to broaden business.
Through its Zipcash unit, Zimpost’s customers can send or receive money locally and internationally through the postal network.