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Tigo Pesa customers pocket $2.3m /- in quarterly profit share

By Tigo
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Tigo Pesa (www.Tigo.co.tz) users have been paid a total of $2.3m/- as profit share paid every quarter by Tanzania's leading digital lifestyle telecom.

This is the eighth time that Tigo is disbursing the quarterly payment to its mobile money users — a practice the company became the first telecom in the world to introduce in July 2014.

A press statement issued by the telecom today shows a quarterly profit share growth of 18% with payment to customers rising from $2m/- for the quarter ending December 2015 to $2.3m/- that the company is paying out for the quarter ending March 2016.

Cumulatively, Tigo Pesa users have earned $18.5m/- in profit share since the scheme started. The payment is profit accruing in the Tigo Pesa Trust accounts held with major commercial banks in the country, according to Tigo Head of Mobile Financial Services Ruan Swanepoel.

The profit share recipients individual customers, retail agents and other Tigo business partners who each receive payment based on the e-value they stored in their Tigo Pesa wallets,” Ruan says in the statement.

“We are really excited to be announcing this increased profit share distribution for the eighth successive time. This underlines our commitment to provide financial access to our customers and the country at large through our Tigo Pesa services,” Ruan says.

He attributes the increased profitability to Tigo's to improved market condition and steady growth in the number of Tigo Pesa users, in particular from the merchant segment. Tigo Pesa currently has the largest network of over 50,000 merchants

As before, according to Ruan, the return to customers is calculated based on Tigo Pesa customers' average daily balance stored in their mobile wallet adding that this profit share distribution scheme is in line with the Central Bank Circular issued in February 2014.

For further information visit: www.Tigo.co.tz or contact: John Wanyancha — Corporate Communications Manager Mobile: 0658 123 089. [email protected]

About Tigo: Tigo Tanzania (www.Tigo.co.tz) 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. The Tigo 3G network guarantees the best services to its subscriber's in all regions across the country, and we have recently launched the 4G network available in specific regions and soon to be available all over the country. In the past three years, the company has launched over 500 new network sites, which translates to over 2,000 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 10 million registered subscribers to their network, Tigo directly and indirectly employs over 300,000 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 11 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.