Botswana Post remains committed to expanding its physical footprint despite the rise of digital technology. This was highlighted by Chief Executive Officer Cornelius Ramatlhakwane in the Botswana Post annual report for the 2023/2024 financial year.
Ramatlhakwane noted that research has established a strong link between postal density and economic growth.ย
“The Post Office is vital for socio-economic development in the communities we serve, especially in rural areas,” he said.
“We have built three brand-new post offices to address the needs of communities in Salajwe, Mookane, and Tati Siding.” Additionally, Botswana Post refurbished the Moshupa post office, creating a modern environment to better serve its customers.
During the review period, Ramatlhakwane acknowledged that despite efforts to manage expenses, Botswana Post faced a 4 percent increase in operational costs.ย
“Our cost of sales experienced a slight growth of 5 percent,” he said.ย
“This is largely due to a 7 percent increase in salaries, which we have allocated to staff at every level of the companyโa long-overdue improvement for our team. Wages had not increased since 2019.”
Botswana Post’s revenue remained flat at P254 million, which Ramatlhakwane described as significant growth given a 31 percent decline in traditional mail volumes, consistent with global trends. However, the companyโs other product lines, particularly courier services and transit dues, performed well, recording growth of 12 percent and 47 percent, respectively.
“We are demonstrating our resilience by reporting a 13 percent increase in gross profit compared to the same period last year,” Ramatlhakwane said. Despite these gains, the company reported a record loss of P80.9 million.
Board Chairperson Nathan Kgabi highlighted Botswana Postโs diversification efforts, noting the addition of an insurance brokerage business.ย
“During the year under review, Botswana Post applied for and successfully secured an insurance brokerage licence in its own name,” Kgabi said. “This represents the next big step in our growth, relevance, and diversification journey.”
Botswana Post aims to attract, engage, and retain a significant number of short- and long-term insurance clients. The company is leveraging its extensive countrywide network, strong brand, and commitment to excellence to generate new revenue streams.
In addition to its commercial activities, Botswana Post plays a key role in social services, disbursing monthly pension payments to over 80,000 pensioners.
ย “We assume our role as a central contributor to Botswanaโs social service ecosystem, allowing Batswana to enjoy their golden years with the respect our culture accords to the elderly,” Kgabi said.
