Tigo Tanzania pays $2.1 million in quarterly profit share to customers

TELECOMS

|
Image: By BiztechAfrica
Tigo Tanzania pays $2.1 million in quarterly profit share to customers

Tanzania’s leading digital lifestyle company, Tigo, has announced another quarterly payment of US$ 2.1 million (Tshs 4.4 billion) to its 4.6 million Tigo Pesa users, the seventh time in a row that the company is distributing profit to its mobile financial services users.

Speaking at a press conference in Dar es Salaam this week Tigo Tanzania Head of Finance and Risk for Mobile Financial Services Obedi Laiser said cumulatively, the company has paid its mobile financial services users a total of US$ 16. 5 million (Tshs 35.5 billion) quarterly payments since September 2014.

The payment is generated from profit accruing in the Tigo Pesa Trust accounts held with major commercial banks in Tanzania, Laiser said.

Tigo Tanzania became the first telecom company in the world in 2014 to share profit generated from its mobile money Trust Account in the form of a quarterly distribution to its customers.

The revenue share model is in line with the Tanzanian central bank (Bank of Tanzania-BOT) which allows the country’s mobile operators to increase e-money deposits and mobile money transactions through new loyalty incentives. 

“This profit share is payable to all Tigo Pesa users including individual customers, retail agents and our business partners each based on the e-value they have stored in their Tigo Pesa wallets,” Laiser said.

He added: “We are really excited to be announcing this profit share distribution for the seventh successive time. The payment underlines Tigo Tanzania’s commitment to provide financial access to our customers and to promote financial inclusion in the country through our Tigo Pesa services.”

According to the BOT, Tanzania has aims at attaining a 50% national financial inclusion of its population by 2016. The East African country has an estimated population of 45 million people.

Tigo Tanzania is the leading innovative telecommunication company in the country, distinguished as a fully-fledged digital lifestyle brand. Offering a diverse product portfolio in voice, SMS, high-speed internet and mobile financial services, Tigo has pioneered innovations such as Facebook in Kiswahili, TigoPesa App for Android & iOS users, Tigo Music (Deezer) and East Africa’s first cross-border mobile money transfer with currency conversion. Tigo also has the fastest and widest 4G network launched across Tanzania’s main cities last year.

In the past three years the company has launched over 500 new network sites with plans to double this investment by 2017 in terms of coverage and additional capacity networks for deeper penetration in rural areas. With over 10 million registered subscribers, Tigo directly and indirectly employs over 300,000 Tanzanians including an extended network of customer service representatives, mobile money merchants, sales agents and distributors.

Last year, the company announced an increased annual investment of US $ 120 million on infrastructure improvement and expansion which is 20% higher than Tigo’s annual spending in the previous three years.

Tigo is the biggest commercial brand of Millicom, an international company developing the digital lifestyle in 12 countries with commercial operations in Africa and Latin America and corporate offices in Europe and the USA.



Share the News

Get Daily Newsletter

Search News

comments powered by Disqus

MORE TELECOMS NEWS

Orange completes acquisition of Airtel in Burkina Faso

Orange has announced that, together with its subsidiary Orange Côte d’Ivoire, it has completed the acquisition of 100% of the mobile operator Airtel in Burkina Faso.  Read More

MTN Ghana goes live with 4G LTE in grand style

The plush iconic MTN House, home to MTN Ghana’s operations came to a standstill on Tuesday, as the country’s telecom leader officially unveiled its latest 4G LTE services across the length and breadth of Ghana.  Read More

NCC to end telcos’ voluntary adherence to corporate governance

  Felix Adeoye; Prof Umar Dambatta and Communications Technology Minister Adebayo Shittu After more than one year of voluntary adherence by telcos to the Corporate Governance Code for the industry, the Nigerian Communications Commission (NCC) yesterday started a journey that will lead to mandatory enforcement. Read More

Telkom Kenya appoints new CEO

Telkom Kenya has announced the appointment of Aldo Mareuse as the Chief Executive Officer and member of the Board of Directors. Read More

N1.04tr NCC fine: MTN agrees on N330b staggered payment

MTN Nigeria and the Nigeria Communications Commission have reached an amicable settlement in the matter of the N1.04trillion fine imposed by the regulator in October last year. Read More

MTN Nigerian fine payment terms resolved

MTN has announced that the matter of its fine has been resolved with the Federal Government of Nigeria. Read More

NCC to review 2.6GHz spectrum auction

The Executive Vice Chairman of the NCC, Prof Umar Garba Danbatta, says the Commission will soon meet with operators over the recent auction of 2.6GHz spectrum. Read More

Vodafone Ghana committed to use technology to address critical health issues

The new Chief Executive Officer of Vodafone Ghana, Yolanda Cuba, has reiterated Vodafone Ghana’s commitment to using technology to address critical health issues such as maternal and infant mortality in the country.  Read More

How telcos in Ghana performed in NCA’s Voice Subscriptions Report

Airtel and MTN Ghana increased their voice and data subscription bases in Q1 2016, according to NCA’s latest report on Mobile Voice and Data Subscription trends. Read More

IHS Towers wins Africa Telecom Infrastructure Company of the Year award

IHS Towers has won the 2016 Africa Telecom Infrastructure Company of the Year Award at Africa’s Information Technology & Telecom Awards (AITTA).  Read More

PRESS OFFICES

Sage EnterpriseSAP AfricaTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4AfrikaNetworks UnlimitedArbor NetworksEricssonTigo Ghana

FEATURED STORY

Government should encourage youths in ICT earlyGovernment should encourage youths in ICT early

Youths should be given more encouragement to develop their ICT skills, an 11-year-old app developer told Kokumo Goodie.

IN DEPTH

IBM Opens First Cloud Data Centre in South AfricaIBM Opens First Cloud Data Centre in South Africa

IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.