Chinese courier company to deliver mail in Zimbabwe

ZIMBABWE's State-owned postal agency, Zimpost, and China's largest courier company, YTO Express, have signed a memorandum of understanding (MoU) that will see the Chinese firm injecting a substantial amount of money into the parastatal and turning it a launch pad for its African operations, NewsDay reported.

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.

Information and Communication Technology minister Supa Mandiwanzira, who facilitated the deal, confirmed the development yesterday, but said he would shed more light after briefing his principals in government.

The MoU, part of which has been publicised on the Chinese government website, states that YTO and Zimpost will discuss the potential of capital investment co-operation and agreed to co-operate and invest in cross-border e-commerce between China, Zimbabwe and Southern Africa.