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Journey of creating opportunities, improving lives of Tanzanians

THE growth of Tanzania’s economy mostly depends on the agricultural sector that all along has been known as the backbone of our economy, besides putting food on our tables.

In its revolution and keeping pace with modern technologies, the inception of mobile money financial services has improved in its growth and positively contributed towards reaching national development agendas.

Statistics shows that mobile money services use have significantly increased in the past ten years in Sub-Saharan Africa leading to the innovation and rise in the use of such services for the improvement of a farmer’s life.

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 walking with cash money and creating massive employment opportunities through agents/wakala services in the business.

A case study, mobile financial service-an innovative service technology is one of the clear demonstrations of tireless efforts by mobile network operators like Tigo Tanzania in bringing state-of-art technologies in the local market.

Tigo has distinguished itself as the digital lifestyle company which offers mobile financial services through a Tigo Pesa App that has helped millions of Tanzanians to easily pay through their phones (Lipa Kwa Simu) something that has simplified access to products and services.

This year, Tigo Tanzania is celebrating ten years of Tigo Pesa service-a full financial service with more than 9 million users since its inception in the market.

Tigo Pesa has transformed financial services in the country especially for people in the countryside, because it operates like a bank where customers can easily send and receive money through its chain of agents (Wakala) network available across the country.

Tigo Pesa managed to dominate the mobile financial services business despite the stiff competition brought by other telcos offering the same service. Tigo Pesa celebrates 10 years of changing the mobile financial services market. Arguably, it is the decade of transforming lives of millions of users through its comprehensive Tigo Pesa ecosystem.

Speaking during the anniversary ceremony held at the company headquarters, Tigo Chief Officer - Mobile Financial Services - Tigo Pesa, Angelica Pesha says the company was celebrating 10 years of Tigo Pesa as an important platform for all the financial services serving more than 9 million customers since it was established.

“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, international money remittance, utility payments, payments for goods and services and government payments, most of these coming to our market for the first time through Tigo Pesa,” says Pesha.

Pesha further explains that within 10 years, the company has closely co-operated with the government to increase financial inclusion through offering reliable financial services to people, creating direct and indirect employment opportunities to more than 120,000 agents who have received over 692 bn/- as commissions. Also, it has managed to facilitate over 1 billion transactions of 27 tr/- in a year.

“We are celebrating all these big achievements because of our customers who have been with us since we started and continued to trust us for giving them reliable financial solutions that improves their lives,” says Pesha.

She adds that, in celebrating the 10 years milestone they came up with a campaign to thank customers for being with them throughout the period. The campaign is dubbed “Jana, Leo na Kesho, Tigo Pesa inaendelea kuwa zaidi ya pesa,” that loosely translates as ‘Yesterday, Today and Tomorrow, Tigo Pesa continues to be more than money.’

According to Pesha, the campaign will enable every Tigo Pesa customer to win different prizes including cash bonuses up to 10, 000/-, free minutes , SMS and MBs when they use Tigo Pesa to; make payments for bills, utility, goods and services, send money to other Tigo Pesa customers, receiving money from the bank or other networks and other countries.

Customers will also enter a weekly draw where 10 customers will stand a chance to win 1m/- every week and 10 grand winners will get a chance to win 10 m/- each at the end of the campaign.

There will also be various bonuses for the Tigo Pesa wakalas based on their performance. 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.

On Friday, April 9, 2021, the Buckingham Palace ...

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Author: DAILY NEWS REPORTER

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