Duty collection via credit card in the pipeline

Having entered 2015 off a high revenue base, CompuClearing has seen another record year in terms of revenue, and has set its sights on opening new markets and furthering its African expansion. “Despite ongoing challenges in market conditions, we are happy to announce a 4% increase in revenue for the six months ended December 2014,” said company chairman Arnold Garber during the announcement of CompuClearing’s interim results in Johannesburg last week. According to Garber, the IT solutions company has achieved a compound annual growth rate in revenue of 13% for the past 25 years, on the back of ongoing record annual turnovers since 1989. Financial director Jonathan Davis added that the group’s partnership with global group, Wise Tech Global, had made “good progress” with the CargoWise One product recording a whopping 51% growth for the first half of the 2015 financial year. “There has been good growth from conversions and new clients,” said Davis. Having captured 60% of the South African International customs market, Garber explained that CompuClearing needed to look further afield for growth. “We will soon launch CargoWise One warehousing, land transport as well as agency and liner modules that will take our offering into new industries,” he said. Garber noted that the company would be increasing its footprint in African countries such as Botswana, Namibia, Lesotho, Swaziland, Mozambique, Malawi, Zimbabwe, Zambia and Mauritius. “We are currently focusing on opening up markets in Mauritius,” he said. The company is also focused on further innovation and is developing a system that will allow for the collection of duties via a credit card as well as an online order management system. “Online retail has had a slow start in South Africa, but it is inevitable, and we recognise the need to have products and systems in place for when it finally catches on,” said Garber. INSERT & CAPTION The CargoWise One product recorded a whopping 51% growth for the first half of the 2015 financial year. – Jonathan Davis