WILLEMSTAD – Cpost International says it plans to gradually eliminate its dependence on government subsidies and become financially self-sufficient by 2030. The postal company outlined its long-term strategy in response to recent reports about recommendations issued by corporate governance advisor SBTNO.
According to Cpost, the global decline in traditional mail services, driven by digitalization, has placed increasing financial pressure on postal operators around the world. Like many postal companies, Cpost has had to adapt its business model to offset falling revenues from conventional mail delivery.
The company said it has already expanded into a range of commercial, non-postal services, which now generate more than half of its total revenue. Those activities help compensate for losses incurred in providing the universal postal service, which Cpost is legally required to maintain.
To further strengthen its financial position, Cpost has developed a new strategic plan focused on expanding commercial operations while restructuring operational costs. The company believes the strategy will enable it to reduce its reliance on government support over the coming years and ultimately operate independently by the end of the decade.
Cpost said it is currently awaiting final approval from the Minister of Traffic, Transport and Urban Planning (VVRP) before fully implementing the plan.
The statement comes after SBTNO raised concerns about the company's financial position in its review of Cpost's 2023 and 2024 financial statements. The advisor noted that the postal operator remains in a financially vulnerable position despite government support.
Cpost maintains that diversifying its business activities is essential to ensuring its long-term sustainability while continuing to provide postal services to the people of Curaçao.