Africa > East Africa > Tanzania > Tigo Pesa, now the largest Mobile Financial Service eco-system in Tanzania

Tanzania: Tigo Pesa, now the largest Mobile Financial Service eco-system in Tanzania

2016/02/22

Tigo Tanzania (Tigo.co.tz) announced today that customers of its Tigo Pesa mobile money service will presently be able to move funds between any of the country’s mobile money operators, as Vodacom’s M-Pesa joins an interoperable network by presently set up by Tigo, Zantel and Airtel. Tigo becomes the only operator in Tanzania to offer interoperability with Airtel, Vodacom and Zantel.

Vodacom’s participation means that additional than 16 million mobile money users in Tanzania will be able to conduct transactions with one-an extra regardless of which mobile operator they use.

With Tigo Pesa, customers will presently benefit from faster, cheaper and safer cashless transactions with anyone across the country

It as well creates Africa’s initial universal interoperable mobile money network.

In June 2014, Tigo, Airtel and Zantel announced a pioneering interoperability agreement. Since again, their customers have enjoyed interoperability between their mobile money accounts which has accounted for an increase of 3.5 times the price of total offline transactions. Next announcing it would join the interoperable network one year ago, Vodacom has presently implemented the transaction.

Interoperability in Tanzania today is not exclusive to mobile operators, and as well includes additional than 25 banks. The country’s 16 million mobile financial users transact the equivalent of additional than 50% of Tanzania’s GDP each month. Thanks to this growing network, Tanzania is presently the leading place for mobile money in east Africa, overtaking Kenya.

Commenting on today’s announcement, Tigo Tanzania Chief of Mobile Financial Services, Ruan Swanepoel, said: “With Tigo Pesa, customers will presently benefit from faster, cheaper and safer cashless transactions with anyone across the country.”

Swanepoel continued, “We believe interoperability is crucial to the success of mobile money and the wider goal of increasing financial inclusion. It is as well a fundamental building block towards constructing a digital economy, enabling merchants and other start-ups to participate in the financial services ecosystem. Our aim going forward is to reach similar agreements with networks in other markets.”

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