Tanzania Mobile Operator To Share TZS 3.3 Billion Profit With Users

Tanzania mobile operator Tigo is to share TZS 3.3 Billion profit for Q1 2015 to its 3.6 million users including super and retail agents as well as general consumers.

The payment is 6% higher than Q4 2014 when Tigo Tanzania first started to pay profit share to its users, said Ms. Cecile Tiano Interim General Manager of Tigo Tanzania.

Tigo Tanzania was the first telecom company in the world to share its Trust Account profit, through mobile money in 2014.

The revenue share model has the approval of the Bank of Tanzania (BOT), allowing Tanzanian mobile operators to increase e-money deposits and mobile money transactions via new loyalty incentives.

“For the past three and a half years the Tigo Pesa Trust has been accumulating returns at rates between 5 and 12% which had reached a value of TZS 14.25 billion. The objective of this dividend is to offer all Tigo Pesa stakeholders an opportunity to have share in this return on their investment” said Mr Diego Gutierrez former General Manager of Tigo Tanzania.

It is an expression of the company’s continuing commitment to support economic and financial inclusion in Tanzania by extending the use of Tigo Pesa across the country” Gutierrez added.

The company launched over 500 new network sites between 2103 and 2014 and plans to double its investment by 2017 in terms of coverage and additional capacity networks for deeper penetration in rural areas.

 

 

 

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