HARARE – Revenue for the country’s postal and courier services plunged 28 percent to $9,1 in the first quarter of 2018 compared to $12,7 million achieved in the previous quarter on depressed business.
Regulator, Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) attributed the fall in revenue to decline in volumes.
During the quarter under review, the sector recorded a 1,6 percent decline total postal and courier volumes in the first quarter of 2018.
Domestic postal letters and domestic courier services were the two categories to register growth of 2,43 percent and 0,5 percent respectively.
The domestic postal volumes above comprised of all domestic letters processed by Zimpost
International incoming and outgoing postal and courier services declined by 9,6 percent and 25,4 percent respectively.
In terms of market share, Fedex accounted for 35 percent of domestic courier in the first quarter while Courier Connect experienced a decline of 13,6 percentage points to 20 percent of the market share.
On the other hand, Zimpost improved its market share to 22 percent from 10,5 percent while DHL commanded the remaining 23 percent of the domestic courier market.
Zimpost dominated the international outgoing postal and courier market with 76,2 percent market share, followed by DHL with 16,5 percent.
POTRAZ attributed Zimpost’s big market share to the large volumes of international outgoing postal services that it delivers.