05 May 2019

BotswanaPost’s newly launched mobile phone wallet dubbed: PosoMoney, has been lauded for providing financial access and inclusion to every citizen.  

Speaking at the introduction of PosoMoney, Ministry of Investment, Trade and Industry deputy permanent secretary for Information and Communications Technology, Ms Alicia Mokone, said introduction of the card was an embodiment of where the country was going. 

“We talk everyday about the knowledge based economy and this particular mobile money solution is the way that the country should be going. It is an acknowledgement of determination to transform, but, even more, it is worthy of our applause, because it is the first of its kind from a long traditional player, as BotswanaPost has not been in this sector up to now,” she added.

With a tag line “Any phone, Any Network”, Ms Mokone said PosoMoney allowed for Batswana who were not part of the Smartphone club, to also expedite transactions seamlessly.

She emphasised the need for all financial institutions to cooperate with the regulatory bodies, such as Financial Intelligence Agency, Bank of Botswana, Botswana Communications Regulatory Authority and Non-Bank Financial Institutions Regulatory Authority to ensure that operations and products were compliant. 

BotswanaPost chief executive officer, Mr Cornelius Ramatlhakwane said with its widespread footprint, BotswanaPost wanted to ensure that, through the PosoMoney innovation, Batswana residing in rural areas also enjoyed the benefits of sending and receiving money anytime and everywhere.

Although PosoMoney was officially launched towards the end of 2018, Mr Ramatlhakwane said he found it necessary to introduce the product to other stakeholders. 

Through PosoMoney, customers can pay utility bills, buy electricity, goods and airtime, send and receive money and pay post box renewals using any phone and any network. 

In the near future, BotswanaPost CEO said customers would also be able to pay for the DSTV, renewal of their vehicle licenses through PosoMoney to avoid queues, adding that “just now we are in the grid of completely seamless electronic access to Department of Road Transport and Safety.” 

“We are going to make it a memorable service for you, both in our post offices and other channels that we have, to ensure that we continue to demand our space in the market. We have a dominant role to play for our social and commercial mandate,” he said. 

“We have a social obligation, as a custodian of service delivery for government, to ensure that every Motswana is able to access services wherever and whenever they need to. We want to ensure that nobody is excluded,” he added. 

He said overtime, post offices had evolved to execute innovative excellence by incorporating and harnessing technology to catch up with the times and make doing business quicker and easier.

In his vote of thanks, Botswana Post board member, Dr Tshiamo Motshwegwa said the event marked a significant milestone in the history of BotswanaPost, a turning point in the efforts towards a broader strategic diversification and a drive to make the post office relevant once again.’

Before the prevalence of banks, technology and other institutions, Dr Tshiamo said the post office had traditionally always offered a platform for money transfer. 

“I like that, because transactions are the backdrop of economic activity, our economic growth, as well as employment opportunities for youth. 

BotswanaPost, through PosoMoney, presents a vehicle where customers will transact, thus providing access, convenience and inclusion, as they will be buying, saving, receiving and sending money,” he said.

Dr Motshegwa said it was commendable that the post office was slowly coming to realise and regain its lost value, its relevance and essence towards community value. 

“This is what differentiates the post office, community build- going into the grassroots. Our pray is that the shareholder will continue to promote and facilitate an environment for Public Private Partnerships through the development, or admission, of progressive and enabling legislative framework,” he added. Ends