Tigo Pesa users in Tanzania receive $1.8m profit

Tigo Pesa users in Tanzania receive $1.8m profit

Telecoms company Tigo today announced its Tigo Pesa mobile money customers would receive the first of its regular quarterly payments worth US$1.8 million.

Three months ago Tigo paid a profit of US$ 8.64 million accumulated in the Tigo Pesa Trust Account and became the first mobile money service in the world to pay profit to its users.

Tigo General Manager Diego Gutierrez said “This second round of profit disbursement shows the company’s continued commitment to benefit and improve the lives of Tanzanians. The payment goes to all Tigo Pesa users including super agents, retail agents and individual users of the service.

“The first payment was bigger due to the fact that the profit had been accumulated over a period of three and a half years. This second payment is the profit accumulated from funds held in trust in commercial banks for three months in the quarter July to September 2014.”

Tigo Pesa has a subscriber base of 3.6 million customers and the average return to a customer will vary based on their average daily balance in their Tigo Pesa e-wallet. This applies to super-agents, retail agents and individual customers.

It also announced next installment for the quarter of October to December 2014 will be paid out in February 2015.

Image courtesy of ShutterStock

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