Postal giant's profits double

Jan 23, 2017

Their profits increased from sh528 million in the financial year 2014/15 to sh1.1b in financial year 2015/16.

By Geoffrey Mutegeki

Posta Uganda doubled its profits for the last financial year, following an increase in the international mail, rental fees collections, embracing new technology and improvement on postal services.

Last financial year, Posta Uganda generated sh20.5b, in revenues up from sh18.9b in the 2014/15 financial year. Their profits increased from sh528 million in the financial year 2014/15 to sh1.1b in financial year 2015/16.

Commitment

According to James Arinaitwe, the Managing Director of Posta Uganda, such an achievement did not come easily, but needed innovative, creative and committed people.

"We were largely helped by the growth of the international mail. The mail that comes from abroad for distribution here," Arinaitwe says. Although, the number of mails locally is declining, in the developed world the numbers are raising.

The rise is due to improved communication, advertising, a lot of personal selling which needs to be replicated here in Uganda. The company also registered clean audit report for the last financial year.

"We utilised the funds very well, used them for the right purpose, and kept properly our books of accounts. We pledge to continue like this for us to continue growing," Arinaitwe says.

To build on this achievement, Posta Uganda looks ahead to embracing ICT a lot more in all its services in order to compete favourably internationally.

"We cannot fight ICT, but need to take it on aggressively; it is the way to go, because whatever was being done manually in the past is now being done electronically," Arinaitwe says.

Some of the ICT services at Post Office include automated counter processes, emailing services and the postak giant will soon introduce IT-based services like use of mobile phone numbers as a post office box.

"If you have a telephone number we will use it as a post office box and it will be your address. Kenya is already doing it and we hope it will work well here too," Arinaitwe reveals. CLICK HERE FOR MORE

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