Business News of 2014-01-07

Internet, telecom activities affect Ghana Post

Even though Ghana Post (GP) Company Limited registered an overall increase in revenue of GH¢2.6 million in 2012, the company recorded a drop in its traditional mail service as a result of the burgeoning internet and telecommunications sectors.
According to Abdulai Abdul Rafiu, Managing Director of GP, revenue from stamp sales dropped from GH¢10.1 million in 2011 to GH¢ 8.60 million in 2012, as EMS and financial services showed improvements in terms of growth.
He was speaking at the company’s Annual General Meeting (AGM) in Accra recently.
Mr Rafiu indicated that the dominance of receivables as a component in current assets fell from 85 percent in 2011 to 59 percent in 2012, representing an improvement in the quality of current assets.
Touching on plans to revitalize the company’s operations, he hinted that the service will soon computerise and network all post offices in the country in order to enhance efficiency.
“We, at Ghana Post, have reached a stage where we need to re-position ourselves to face the changes in the industry squarely and even go on to become an industry leader.”
It would be recalled that the payment of a GH¢2.4 million judgment debt in 2010 negatively affected Ghana Post (GP).
Fortunately under a Dutch Government programme for the transport and infrastructure sector in Ghana, a postal hub is to be established at the Kotoka International Airport.
Its objective will be to promote Ghana as a hub for the international exchange of mails and parcels between West Africa and the rest of the world and that is expected to improve the quality of mail exchange among West African countries.
Additionally, it will foster the development of a business plan of cooperation between GP and its Dutch partners namely TNT International.
Source: Daily Guide
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