Tigo makes 1.8M USD - profit distribution

TIGO Tanzania has made another quarterly Tigo Pesa profit share payment amounting to 3.884bn/- (US$ 1.8 million) to its customers. Speaking at a media briefing in Dar es Salaam on Thursday, the Tigo Head of Mobile Financial Services, Ruan Swanepoel, said that this is the profit distribution for this year’s second quarter and is 17 per cent higher than the 3.3bn/- (US $ 1.5 million) that the company paid in the second quarter.

“Our objective is to ensure all Tigo Pesa stakeholders including individual customers, retail agents and our business partners share in this return based on the e-value that they have stored in their Tigo Pesa wallets,” said Swanepoel.

“This is the sixth payment in as many quarters that Tigo is distributing interests generated from the Tigo Pesa Trust accounts held with major banks in Tanzania. “We are really excited once again to be announcing this distribution to our loyal Tigo Pesa users.

This payment underlines our commitment to provide financial access to our customers and the country at large,” said Swanepoel. Tigo in July 2014 became the first telecom company in the world to share its Mobile Money Trust Account profit, in the form of quarterly distribution to its Tigo Pesa users.

Explaining the payment, Swanepoel further said that as before, the return to customers is calculated based on their average daily balance stored in their Tigo Pesa wallet. He cited the reason for increased payment as an increase in total trust balances as more and more customers join Tigo Pesa and increased usage of Tigo Pesa by existing customers.

source:dailynews