Dar es Salaam. MIC Tanzania PLC which trades as Tigo has today announced the completion of takeover of Zanzibar Telecom Public Limited Company (Zantel) in a deal that is yet to be disclosed.
In a statement the company announced that after acquiring the receipt of approval from the relevant authorities, it meant that the process to transfer ownership of the shares of Zantel to Tigo was now complete.
The successful takeover will now see the two companies combine their operations in the mainland and in Zanzibar.
Commenting on the transaction the Managing Director of Tigo, Simon Karikari highlighted that merging the companies is in Tanzania’s interest.
“Through combining our operations in Tanzania - Tigo and Zantel - I firmly believe we will create a more inclusive future for Tanzania’s telecommunications. Both Tigo and Zantel customers will be able to enjoy enhanced services and a more consolidated market will help drive forward innovation in the sector more broadly,” said Mr Karikari.
According to him the combined business will bring together the strengths of Tigo and Zantel to better serve customers both in the mainland and in Zanzibar.
“The combined group will offer improved coverage and better quality of service to customers in both urban and rural Tanzania, enabling a wider access to communication solutions for businesses as well as mobile financial services to Tigo and Zantel customers,” said the managing director.
The integration process between the two companies is set to start soon and customers’ SIM cards and mobile numbers will not change.
The company has also announced that there will be no interruption to customers’ experience on both networks during the integration process.
Tigo started its operations in Tanzania in 1995.