However, the inception of mobile money financial services has fueled the growth of the country’s economy while positively contributing towards reaching national development goals.
Statistics show that mobile money services usage has significantly increased in the past ten years with Sub-Saharan Africa leading in both innovation and usage of the services. In Tanzania, mobile financial services have contributed towards bringing the majority of the people into the formal financial system especially those living in villages.
Also, it has reduced the risks of carrying out hard cash while creating massive employment opportunities through agents/wakala services. Mobile financial services are a technological innovation that has clearly demonstrated tireless efforts by mobile network operators like Tigo Tanzania in bringing state-of-art technologies to consumers in the local market.
Tigo has distinguished itself as the digital lifestyle company which offers mobile financial services through Tigo Pesa application that has helped millions of Tanzanians to transact through their phones, a move that has simplified access to products and services.
This year, Tigo Tanzania is celebrating ten years of Tigo Pesa services, a platform with more than nine million subscribers. Tigo Pesa has transformed financial services in the country especially for people in rural areas where it operates as a bank allowing customers to easily send and receive money through its massive agents’ network.
Tigo Pesa managed to dominate the mobile financial services business despite the stiff competition brought by other mobile network operators. As Tigo Pesa marks a decade of operations, it has transformed millions of lives through its services.
Speaking during the anniversary ceremony held at the company headquarters last week, Chief Officer - Mobile Financial Services for Tigo Pesa, Angelica Pesha said the company is celebrating a decade of the mobile money platform being an important platform serving nine million customers.
“Over the past decade, Tigo Pesa has evolved from providing remittance services to a fully-fledged financial services platform offering micro-loans, insurance services and an expanded ecosystem through interoperability and integrations enabling cross-network money transfers across MNOs and banks,” Pesha said adding the platform also provides international money remittance, utility bills payments, online purchasing for goods and services and facilitate government payments.
Pesha further explained that within the 10 years, Tigo Tanzania has closely co-operated with the government to increase financial inclusion by offering reliable financial services to the public, creating direct and indirect employment to more than 120,000 agents who have received over 692bn/- as commissions during the period. The platform has also facilitated over one billion transactions worth 27trn/- per annum.
“We are celebrating all these huge achievements because of our customers who have been with us since we started and continue to trust us for giving them reliable financial solutions that improves their lives,” she added.
The Tigo Pesa Chief further noted that, in celebrating the 10 years of operations, the telco has come up with a campaign dubbed, ‘Jana, leo na kesho, Tigo Pesa inaendelea kuwa zaidi ya pesa’ aimed at thanking its customers for being with them throughout the period.
According to Pesha, the campaign will enable every customer to win different prizes including cash bonuses up to 10, 000/-, free minutes and text messages, and megabytes when transacting on the platform.
“Customers will also enter a weekly draw where of them will stand a chance to win 1m/- every week with 10 lucky winners getting a grand prize of 10m/- each at the end of the campaign,” she explained while pointing out that there will also be various bonuses to Tigo Pesa wakalas based on their performance.
With the spirit of innovation and listening to their customers, Tigo Pesa managed to bring a number of “1st in the World” solutions like: Interoperability in the local market making it easier to transfer funds across the different networks and banks; International money transfer with currency conversion; Self-care tools to give customers more control of their transactions and wallets; Micro-insurance services (Bima Mkononi); and Interest distributions (Tigo Gawio); Merchant payment services;
In recognition of its milestone achievement, Tigo Pesa was among the first mobile money companies to become GSMA certified, a testament to the secure, transparent and reliable world class operations being provided.
The success of Tigo Pesa in the last decade marks the beginning of a bright future in digital payments in Tanzania as the company is looking into becoming a one-stop-shop for all customers’ financial needs with more relevant solutions that will keep evolving.