Tigo dishes out 4.4bn/- to subscribers

Over four million Tigopesa subscribers have reaped 4.4bn/- as part of Tigo Tanzania quarterly payment, which is the seventh time in the last two years.

Quick computation on average shows that each subscriber got 1,100/- in three months or 366/66 per month, though each beneficiary received unequal amount depending the on balance in their individual Tigopesa wallets.

The company decided to share some of its profit to its mobile financial services users generated from profit accruing in the Tigopesa Trust accounts. 

Tigo Head of Finance and Risk for Mobile Financial Services, Mr Obedi Laiser said this is the first time Tigo is paying the profit share in 2016 noting that the payment is generated from profit accruing in the Tigopesa Trust accounts held with major banks in Tanzania.

“This profit share is payable to all Tigopesa users including individual customers, retail agents and our business partners each based on the e-value they have stored in their Tigopesa wallets,” said Mr Laiser.

He said that they are really excited to be announcing this profit share distribution for the seventh successive time in that it underlines their commitment to provide financial access to their customers and the country at large through their Tigopesa services.

Tigo became the first telecom company in 2014 to share profit generated from its mobile money Trust Account in the form of a quarterly distribution to its customers. 

“We believe this first Tigopesa profit share distribution in 2016 will be a welcome relief to millions of Tigopesa users in meeting their various financial commitments,” Mr Laiser said.

He said that as before, the return to customers is calculated based on their average daily balance stored in their mobile wallets. The Tigopesa profit share distribution scheme is in line with the Central Bank Circular issued in February 2014.

The company has so far paid a total of 35.5bn/- to Tigopesa users in seven quarterly disbursements since the launch of the service in July 2014.
Source: Daily News, reported from Dar es Salaam, Tanzania
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