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Tanzania: Tigo pays USD 2.1 million to customers

January 18, 2016 • East Africa, Mobile and Telecoms, Top Stories

TigoTigo Tanzania has announced another quarterly payment of USD $ 2.1million (Tshs 4.4 bilion) 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, 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 stated.

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.

Staff Writer

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