The Voice (Francistown)
Zeph Kajevu
29 April 2008
Francistown — April 4, 2008 marked a new era in Botswana Postal Services operational history as a result of a partnership with TransUnion, Africa's leading database business solutions provider. The partnership between the two service providers that was celebrated at a Consumer Credit Awareness Launch breakfast function in Gaborone designed to empower credit-active consumers accurately assess their creditworthiness, prudently manage their financial portfolios, before initiating a business venture, buying residential property or applying for a bank loan.
In his presentation, Botswana TransUnion Country Manager Vincent Galeromeloe said: "As a global leader, we bring together data, technology and in-depth understanding of unique challenges to create advantages for businesses, consumers and communities.
"The benefits of an accurate credit report can have a significant impact on one's future, whether opening a business, buying a house or applying for a loan. Due to the international experience, TransUnion will assist Botswana Postal Services to begin the campaign in Gaborone and rollout to other parts of the country."
Dismissing fears that many people have of reading their credit reports, Galeromeloe explained: "Despite the multitude of common misperceptions surrounding the credit industry, namely that credit bureaus blacklist consumers who have defaulted on purchase credit agreements, the truth of the matter is that over 90 per cent of consumers on our database have positive credit reports, with no judgments against their names.
"Instead, your credit report is a reflection of how the credit-granting market views you as being able to pay your credit obligations. Contrary to common belief, the credit bureau merely stores information on consumers it receives from credit-grantors, allowing the latter the opportunity to assess the risks of offering further credit to the individual."
Commending the partnership, Botswana Postal Services Director Customer Services Lebopo Motswagole said that the Campaign has the added advantage of expert guidance from a pool of dedicated and specially trained Botswana Postal Services Customer Advisors who can assist consumers access their credit reports. The information posters placed in respective post offices are designed to advise credit-active consumers to identify participating post offices that they can consult. Motswagole hoped that more consumers would use the opportunity to access credit reports allowing them to actively participate in the management and accuracy of their credit information.
Motswagole said: "Currently, three post offices including Gaborone Station, Gaborone Central and Gaborone Bontleng are hosting the Campaign as part of a trial study, with a total of 28 post offices to be incorporated throughout the year."
Based on the new dispensation, members of the public wishing to access their credit reports are advised to approach participating post offices. Global security standards have been applied to enhance confidentiality since incumbents are requested to provide proof of identification and complete a form of consent.
"We are proud to be partnering in a campaign of this nature with a global leader such as TransUnion. Inadvertently, all over the world, consumers are being encouraged to become more educated on their credit reports and appreciate the positive impact credit can have on their lives. We are delighted to be playing a major role in facilitating such an initiative in Botswana," Motswagole said.
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