Tigo returns $2M to money users – Mobile World Live

Tigo returns $2M to money users

27 NOV 2014

Tanzanian operator Tigo claimed a first with a scheme to share a profit from its mobile money service with subscribers and agents.

The operator announced a payment of TZS3 billion ($1.8 million) for the July-September 2014 period. The Tigo Pesa service has 3.6 million users, as well as an unspecifed number of agents.

This second payment comes three months after the operator paid out TZS14.25 billion accumulated in the Tigo Pesa Trust Account.

The return goes to users as well as the agents who sell the service.

The first payment was higher than the second because the profit had been built up over a period of three and a half years.

Both are the profit built up from funds held in trust by commercial banks.

The size of return varies according to the average daily balance held by users in their Tigo Pesa account.

The next instalment for the quarter October-December 2014 is due to be paid out in February 2015.

Author

Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

Read more

Related

Tags