Posta targets Sh20 billion growth in three years

By NICHOLAS WAITHATU

The Postal Corporation of Kenya (PCK) has revised its revenue target to Sh20 billion from Sh5 billion in the next three years. The move will enable the parastatal meet its 2013-2016 Corporate Strategic Plan.

“Posta is presently realigning its operations and propping up its “profit-centres to realise growth,” said Postmaster-General Enock Kinara. This is being done by developing new products, reviewing price structures and diversifying its sources of income. Dr Kinara said Posta would increase its revenues to hit its set target.

“We are committed to growing revenue from Sh3.5 billion to Sh4.5 billion in the first years and from Sh4.5 billion to Sh6.5 billion in the second year,” he said.  “In the third year, we will grow it Sh9 billion to hit a cumulative target of Sh20 billion.”  “We require a paradigm shift in the way we conduct our business. It will no longer be business as usual if we are to achieve our set targets and move to the next level as expected by our shareholders,” he added. Besides strengthening marketing programmes and physical infrastructure to improve service delivery, PCK is also improving its ICT infrastructure and prioritising ICT in budgeting.    The corporation has invested Sh87 million in rolling out national payment switch that would see financial institutions share payment infrastructure.

 They will capitalise on PCK’s expansive network of over 600 offices to offer agency services. “We will officially launch this platform on 30th July this year,” he revealed.

The e-payment system will enable Posta transact operations electronically on behalf of various stakeholders. These include electronic agency banking, mobile money transfers and card-based transactions.

Others are e-commerce, online disbursements in agency services, as well as e-payment for utility bills. The parastatal has also sought approval from the Communications Commission of Kenya to provide wireless Internet services countrywide.

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