Dar es Salaam. Telcom company, Tigo has announced a quarterly interest payment of Sh2.7 billion to all their mobile money clients, marking it the 24th time since the introduction of the interest distribution.
Tigo’s acting head of mobile financial services, Angelica Pesha, said cumulatively the company has paid its mobile financial services users a total of Sh100.9 billion in quarterly payments since the introduction of the interest payments by Tigo in July 2014.
Pesha said that this year’s first quarterly interest distribution comes at a time when the whole world is struggling against the Covid-19 pandemic, and business has been slow due to the impact on operational and financial performance, especially in the first quarter of 2020.
“Following the outbreak of the Covid-19 pandemic that has affected almost everyone around the world and here in Tanzania, this interest is payable to individual customers, retail agents, super agents and other Tigo business partners who each receive payment based on the e-value they stored in their wallets,” Pesha said.
“We are really excited to be announcing this increased interest distribution for the 24th successive time, bringing relief to millions of Tigo Pesa users during this tough period, helping them to meet their various financial obligations. This underlines our commitment to provide financial access to our customers and the country,” said Pesha.
She cited Tigo’s increased profitability, due to the increased number of Tigo Pesa users as the major drivers to the significant increase in interest share especially from the merchant segment.
Tigo Pesa currently has a network of over 50,000 merchants enhancing transaction payments across the country and over 110,000 across the country.