The growth of Tanzania’s economy mostly depends on the agriculture sector which has known as a backbone of our economy for many years. However, the inception of mobile money financial services has fueled the growth of the country’s economy while positively contributing towards reaching national development agendas.
Statistics shows that mobile money services usage have significantly increased in the past ten years while 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 cash while creating massive employment opportunities through agents/wakala services.
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 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 countryside as it operates as a bank where customers can easily send and receive money through its huge 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, the Chief Officer – Mobile Financial Services – Tigo Pesa, Angelica Pesha says the company is celebrating 10 years of Tigo Pesa being 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 & 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 TSh 692 billion as commissions. Also, it has achieved to facilitate over 1 billion transactions worth Tsh27 trillion in a year.
“We are celebrating all these huge 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.”
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 TSh 1 Million every week and 10 grand winners will get a chance to win TSh 10 Million each at the end of the campaign. There will also be various bonuses for the 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 something that fostered accessibility to financial services
• International money transfer with currency conversion
• Self-Care tools to give customers more control of their transactions and wallets
• Micro-Insurance services (Bima Mkononi)
• Interest distributions (Tigo Gawio)
• Merchant payment services (LipaKwaSimu)
• Mobile Financial Servies App (Tigo Pesa App)
Apart from the above, Tigo Pesa was among the 1st mobile money companies to become GSMA certified, a testament to the secure, transparent and reliable world class operations we run at Tigo Pesa.
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.
Tigo Tanzania is Tanzania’s leading digital lifestyle telecommunications company. Tigo started its operations in Tanzania in 1995. Through its distinctive and diverse product portfolio in voice, SMS, high-speed internet and mobile financial services.
Tigo has pioneered digital innovations such as the first Smartphone in Swahili, Free Facebook in Swahili, Tigo Pesa App, Tigo Mobile App as well as the first East African cross-border mobile money transfer with currency conversion
In the year 2010, Tigo Pesa was officially introduced in Tanzania. The growth of Tigo Pesa service in the provision of payments services, utilities and products has advanced the financial inclusion agenda in Tanzania.
In 2014, Tigo Pesa introduced interoperability in the local market making it easier to transfer funds across the different networks and banks something that fostered accessibility to financial services.
Recently, Tigo Pesa partnered with Mastercard in order to provide easy financial services to more than 9 million customers across the country.