Tigo Tanzania has launched a mobile money service through which users could earn automatic return on their balance direct to their wallet without requiring a separate registration.
The service in Tanzania is called Tigo Wekeza and will allow Tigo Pesa users currently about 3.5 million to enjoy quarterly payments based on the balance held in their account. The company said customers could also nominate a non-profit beneficiary in line with their personal cultural belief.
Millicom’s President and CEO, Hans-Holger Albrecht said, “This innovation reflects our commitment to develop mobile money into an even more attractive service and will extend financial inclusion further. It comes in a year when we have already pioneered cross-border mobile money transfers with automatic currency conversion as well as a unique interoperability arrangement with other operators in Africa.”
GSMA’s Chief Regulatory Officer, stated, “This new service is a further example of the many pioneering ways in which the industry supports inclusive financial and social policy goals. Congratulations to Tigo. I look forward to seeing other operators offering similar services.”