Botswana Launches DigiPost to Modernize Financial Infrastructure

Botswana Launches DigiPost to Modernize Financial Infrastructure
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Botswana, through its designated postal operator BotswanaPost, has unveiled Digipost, a digital post office platform aimed at modernizing the nation’s financial infrastructure. This initiative is expected to drive economic growth and enhance financial inclusivity across the country.

Digipost is a smart-app-based extension that enables individuals and small and medium-sized businesses to resell postal services. Entrepreneurs can become postal agents and offer a variety of services, including PosoMoney cash withdrawals and deposits, post box renewals, insurance premium payments, Motshidisi funeral plans, airtime and electricity purchases, mobile money transfers, DSTV subscriptions, and virtual post boxes.

A future USSD feature is planned to enable customers with feature phones to access DigiPost, further empowering underserved communities.

As of late 2023, approximately 24% of Botswanans were unbanked. BotswanaPost aims to reach over 500,000 people, primarily youth and women, through its PosoMoney and DigiPost offerings within three years, promoting financial and digital inclusion.

BotswanaPost provides, develops, operates, and manages postal services at a low cost and currently operates a network of over 136 post offices and kiosks across the country, creating a secure business environment for service delivery. The anticipated agency banking service will leverage this network, which includes over 400 biometric Point of Sale (POS) terminals to ensure efficient and secure transactions.

Currently, the Post Office branch network processes payments for over 100,000 Social Service Grant Disbursements monthly. BotswanaPost expects to add over 194,000 new wallet subscribers to its PosoMoney mobile money solution over the next five years, targeting 4 million wallet transactions monthly.

According to Statista, the total transaction value in Botswana’s digital payments market is expected to reach $1,528 million in 2024, with an annual growth rate (CAGR 2024-2028) of 9.59%, resulting in a projected total of $2,204 million by 2028.

Tebogo Lebotse Sebego, BotswanaPost’s Chief Corporate Affairs & Sustainability Officer, described DigiPost as a ‘phenomenal’ income solution for families and entrepreneurs, representing a significant step in Botswana’s digital transformation journey.

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