Millicom International Cellular: Tanzanians to enjoy Africa’s first universal mobile money service
February 25 2015 - 2:47AM
Business Wire
Millicom (STO:MIC)(NASDAQ:MICC) announced today that customers
of its Tigo Pesa mobile money service in Tanzania will be the first
in Africa to be able to transact with users of all their country’s
mobile money networks following an agreement with Vodacom’s M-Pesa
service. The agreement means that four million Tigo Pesa users will
for the first time be able to exchange money with six million
M-Pesa customers in Tanzania later this year. They will be able to
do this in the same way that they do already with Airtel and Zantel
customers following the launch of similar services with Tigo in
2014. These were the first examples of such “interoperability” in
Africa.
Commenting on the announcement today, Millicom’s Executive Vice
President for Africa, Arthur Bastings, said “With Tigo Pesa
customers will now have Africa’s first universal mobile money
exchange system. They will be able to safely and securely transact
with millions more people across the country. It’s another first
for Tigo Pesa and Tanzania. Following the success of the service
with Airtel and Zantel, we hope many more Tanzanians will choose
mobile money so that everyone benefits and we can extend financial
inclusion even further. We also intend to pioneer similar
agreements with networks elsewhere.”
The initiative with M-Pesa follows a series of Tigo Pesa
innovations within the last year which have included:
- cross-border mobile money exchange with currency conversion
included
- the first inter-network mobile money exchange with Airtel in
2014 and
- quarterly returns on Tigo Pesa balances.
Millicom’s Tigo mobile money services have been shortlisted for
an award for their innovation at next week’s GSMA annual global
mobile industry event in Barcelona.
About Millicom
Millicom is a leading telecommunications and media company
dedicated to emerging markets in Latin America and Africa. Millicom
sets the pace when it comes to providing innovative and
customer-centric digital lifestyle services to the world’s emerging
markets. The Millicom Group employs more than 16,000 people and
provides mobile services to over 56 million customers. Founded in
1990, Millicom International Cellular SA is headquartered in
Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC.
In 2014, Millicom generated revenue of $6.4 billion and EBITDA of
$2.1 billion.
For more please visit: www.millicom.com
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MillicomPressJulian Eccles, VP, Corporate CommunicationsTel:
+352 277 59084 (Luxembourg) / +44 7720 409
374press@millicom.comorInvestor RelationsNicolas Didio, Director,
Head of Investor RelationsTel: +352 277 59125 (Luxembourg) / +44
203 249 2220investors@millicom.com
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