Mozambican postal company climbs out of crisis by diversifying its services

15 October 2013

Mozambican postal company Correios de Moçambique is about to leave behind the crisis it had faced since 2009 because of a downturn in demand for postal services, said company director Valdemar Jessen cited by daily newspaper Notícias.

Valdemar Jessen, who is responsible for Management and Finance at the company, said that, whilst in 2009 the company had posted a loss of 8 million meticals, a focus on diversification of its services had improved the situation in 2010 and 2011.

In 2012, the company posted a small loss after investing in the refurbishment of its real estate assets, information and communication technologies a transport.

“With the investments we carried out we are in a state of equilibrium between revenues and expenses,” the director noted, adding that the company was working on further diversifying its businesses, “in order to overcome our difficulties.”

Speaking about the Postal Bank, Jessen said that the process of setting it up now only depended on bureaucratic issues, which should be resolved by the beginning of 2014.

Correios de Moçambique has a 30 percent stake in postal bank Banco Postal de Moçambique, whose partners include insurance company Empresa Moçambicana de Seguros, social security institute Instituto Nacional de Segurança Social and the Transport and Communications Fund. (macauhub)