Millicom, (NASDAQ:MICC) (STO:MIC), today announced that Tigo
Pesa, its Mobile Financial Services in Tanzania, has joined with
WorldRemit, the London-based online peer to peer money transfer
service. The partnership will enable the Tanzanian diaspora to
directly send money to families and friends back home through their
smartphones, tablets and computers.
Announcing the launch in Dar es Salaam today, Tigo Head of
Mobile Financial Services, Ruan Swanepoel, said Tigo Pesa is now
the most common receive method for international remittances to
Tanzania for WorldRemit customers, having overtaken cash pick-ups,
airtime top up and transfers to bank accounts.
Ruan said: “Working with WorldRemit is part of the company’s
strategy to fully integrate Tigo Pesa to the international payment
system. Our vision is to make Tigo Pesa customers enjoy making
unlimited financial transactions both locally and internationally
from the convenience of their phones. WorldRemit provides not only
increased transfer speed but also offers better rates as compared
to other available money transfer services.”
There are about 250,000 Tanzanian emigrants living abroad,
according to the latest World Bank data, with the United Kingdom,
United States and Canada having the highest numbers of Tanzanians
living outside of Africa.
The World Bank also portrays Tanzania as an important receive
market for remittances. In 2014 the country received a total of
US$64 million from Tanzanians living abroad. The top sender
countries responsible to Tanzania include Kenya, United Kingdom,
Uganda, Canada, United States, Australia and South Africa.
Jeff Pietras, VP for International Product Development,
WorldRemit said: “WorldRemit is revolutionising the tired world of
money transfers through our online and mobile only service. People
around the globe can send money instantly to Tigo Pesa wallets with
just a few clicks or taps on their smartphone and enjoy fair,
transparent pricing.”
WorldRemit is a leader in online money transfers to Mobile Money
services, which is now the preferred method for receiving money in
many countries. Transfers to Mobile Money services in Africa have
grown by more than 200% over the past year, and represent over 30%
of all WorldRemit’s transfers originating in Europe and the
USA.
To be able to send money directly to their family members or
friends in Tanzania with Tigo Pesa accounts, a person living abroad
should visit:
https (https://www.worldremit.com/en/tanzania/tigo-mobile-wallet):// (https://www.worldremit.com/en/tanzania/tigo-mobile-wallet)www.worldremit.com/en/tanzania/tigo-mobile-wallet
Or download the WorldRemit app on
iOS (http://itunes.com/apps/worldremit/worldremit) or
Android (https://play.google.com/store/apps/details?id=com.worldremit.android)
.
This is the second international money transfer service to be
launched by Tigo Pesa following last year’s launch of money
transfer service with currency conversion to Rwanda. Tigo Pesa is
also integrated with the financial services of leading commercial
banks in the country enabling Tigo customers to withdraw or deposit
money from their e-wallets to their bank accounts and
vice-versa.
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, cable and satellite services to over 56 million
customers. Founded in 1990, Millicom International Cellular SA is
listed on NASDAQ OMX Stockholm under the symbol MIC. In 2014,
Millicom generated revenue of $6.4 billion and EBITDA of $2.1
billion.
During its Q2 results in July, Millicom announced that its
Africa operations delivered a revenue growth of 15.3%. In Tanzania,
Millicom reported strong customer growth in mobile (+771,000)
delivering revenue growth of 19% to $91 million with an EBITDA
margin of 35%. LTE has also recently begun roll out in Tanzania.
Following this transaction, Millicom will reinforce its market
position in Tanzania.
About Tigo
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, Tigo Pesa App
for Android & iOS users, and East Africa’s first cross-border
mobile money transfer with currency conversion.
The Tigo 3G network guarantees the best services to its
subscriber’s in all regions across the country. Between 2013
and 2014 alone the company launched over 500 new network sites and
plans to double its investment by 2017 in terms of coverage and
additional capacity networks for deeper penetration in rural areas.
With over 8.5 million registered subscribers to their network, Tigo
directly and indirectly employs over 100,000 Tanzanians including
an extended network of customer service representatives, mobile
money merchants, sales agents and distributors.
Tigo is the biggest commercial brand of Millicom, an
international company developing the digital lifestyle in 44
countries with commercial operations in Africa and Latin America
and corporate offices in Europe and the USA. With the certain
knowledge that only constant innovation will keep them on top,
Millicom keeps creating greater shareholder value; applying their
concept of “demand more” is how they do business and retain their
position as digital lifestyle leaders in some of the most unique
and challenging markets.
About WorldRemit
WorldRemit (http://www.worldremit.com/) is an online
service that lets people send money to friends and family in other
countries. Customers can use WorldRemit anytime, anywhere, on their
smartphone, tablet, or computer. For those receiving money,
WorldRemit offers a range of options including bank deposit, cash
collection, Mobile Money, and mobile airtime top-up.
With low fees and guaranteed exchange rates, WorldRemit is
bringing fair, transparent pricing to the money transfer industry.
The service is available in 50 countries and sends to more than 120
receive countries.
WorldRemit received a $40m Series A funding round in 2014 from
Accel Partners and a $100m Series B funding round led by Technology
Crossover Ventures in 2015. WorldRemit’s global headquarters are in
London, UK with regional offices in USA, Canada, Australia, and New
Zealand.
Media contact: media@worldremit.com
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For further information please visit: www.millicom.com or
contact:MillicomPress:Rachel SamrenEVP External Affairs+44 7795
385415press@millicom.comorInvestors:Nicolas DidioDirector of
Investor Relations+44 203 249 2220investors@millicom.com
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