Zimpost, YTO Express partnership to commence next month
ZIMPOST’S partnership with Chinese largest courier company, YTO Express is set to commence in the next three weeks.
Zimpost signed a memorandum of understanding in December 2015 with the Chinese firm whose annual turnover is projected to reach $5.3 billion this year.
Headquartered in Shanghai, the company moves more than 13 million parcels per day and has an annual turnover the size of Zimbabwe’s National Budget, which stands at $4 billion
The partnership positions Zimpost as YTO Express’ launch pad for its African operations.
In an interview Zimpost managing director Douglas Zimbango said refurbishments of a showroom at Causeway Building are almost complete and the first shipment is expected from China in three weeks’ time.
“We are trying to initiate the demand by bringing the popular things that most people go and buy from China from cellphones, earphones to building materials. We will do door to door deliveries of the goods saving people the time and money as they will get the staff from us instead of using say $1 500 to go to China,” he said.
Zimbango said they were going to start off with at least 120 products lines that are popular with Zimbabweans
The move is expected to drive the attainment of Zimpost’s annual revenue target of $20 mln in 2016.
He said they were also developing an electronic application that will enable people to order and buy from the website including.
The deal should also see YTO Express invest a substantial amount of money into Zimpost and open doors to the acquisition of a 50 % stake in subsidiary Courier Connect.
Zimbago added that the firm was in talks with another Chinese company over an unspecified business venture. FinX
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