Ukrposhta completes joint-stock corporatization
Ukraine’s national postal operator, Ukrposhta, has announced it will become a joint-stock corporation on 1 March. The Ministry of Infrastructure gave the green light to the corporatization on Thursday (16 February).
Ukrposhta told Post&Parcel that the corporatization will enable the company to create an independent Board and attract financial partners for its investment projects.
However, the stock will remain fully owned by the state, as Ukrposhta is on the list of country’s strategic enterprises.
Ukrposhta CEO Igor Smelyansky has also unveiled the company’s new five-year transformation strategy which is based on three pillars of growth: acceleration of parcel and courier business; expansion of financial services and growth in retail sales.
Ukrposhta operates over 11,500 offices across the country, more than all country’s bank branches combined, which could be a valuable resource in its plan to expand its financial services.
Oleksandr Pertsovskyi, Ukrposhta’s COO, has announced a project to setup courier services over the next two years in Kyiv and Ukraine’s other major cities. The service will target the e-commerce sector and could “potentially [involve] deploying electric vehicles within courier fleet”.
Meanwhile, Ukrposhta also reported that it achieved 36% growth in parcel volumes in the fourth quarter (Q4) of 2016 and said it “plans to invest around $160m in 2017-2021 into fleet renewal and other last-mile capabilities (including parcel boxes) to further support this growth”.
