Millicom International Cellular, a Luxembourg-based telecommunications company also known as Tigo; Airtel Tanzania, a subsidiary of Indian telecommunications company Bharti Airtel; and Zantel Tanzania, a telecommunications company owned by Etisalat of the United Arab Emirates, recently announced an agreement to allow customers of the three firms’ mobile money services to send and receive money to and from users of all three systems. Additionally, the customers of the three companies are now able to send money at unspecified lower rates and make withdrawals without the need to use personalized identification number (PIN) codes to verify their identity.
As of 2013, Millicom reported assets of USD 9.15 billion and 50 million mobile subscribers. There are approximately 2.7 million active users of Tigo Pesa in Tanzania. As of December 2013, Airtel claimed approximately 287 million subscribers in 20 countries across Africa and Asia.
As of July 2013, Etisalat reported net revenues of AED 32.9 billion (USD 9 billion), net profit of AED 13.2 billion (USD 3.6 billion) and operations in 15 countries throughout the Middle East, Africa and Asia. Zantel Tanzania, which has 1 million mobile phone customers, introduced Z-Pesa in 2008.
By Juan Blanco, Research Associate
About Millicom International Cellular (Tigo)
Founded in 1990, Millicom International Cellular, also known as Tigo, is based in Luxembourg and provides mobile phone network access in 13 countries in Latin America and Africa. At the end of 2013, Millicom reported assets of USD 9.15 billion. Tigo has 50 million subscribers.
About Bharti Airtel
Founded in 1995, Bharti Airtel (Airtel) is an Indian telecommunications company headquartered in New Delhi. Airtel operates Airtel Money, whereby users can transfer money, pay bills and perform financial transactions from their mobile phones. As of December 2013, Airtel claimed approximately 287 million subscribers in 20 countries across Africa and Asia.
About Emirates Telecommunications Corporation (Etisalat)
Founded in 1976, the Emirates Telecommunications Corporation, which uses the trade name Etisalat, is a telecommunications services provider based in the United Arab Emirates. The United Arab Emirates government holds a 60-percent share of the company, leaving the remaining 40 percent to be publicly traded. As of July 2013, Etisalat reported net revenues of AED 32.9 billion (USD 9 billion), net profit of AED 13.2 billion (USD 3.6 billion) and operations in 15 countries throughout the Middle East, Africa and Asia. Information on the number of subscribers is unavailable.
Sources and Additional Resources
[1] African Press Organization, “Tigo, Airtel and Zantel to enable mobile money payments between their customers in Tanzania,” 2014, http://appablog.wordpress.com/2014/06/04/tigo-airtel-and-zantel-to-enable-mobile-money-payments-between-their-customers-in-tanzania/
MicroCapital, March 18, 2014, Tigo Introduces Cross-border Mobile Money Transfer Service With Currency Conversion Serving Rwanda, Tanzania
MicroCapital, October 29, 2013, Airtel, Tanzania Postal Bank (TPB) Partner to Offer Mobile Banking Services
MicroCapital, February 22, 2012, Zantel Tanzania Rebrands Mobile Cash Service Z-Pesa as Ezy Pesa, Adds Salary Access Option, Microinsurance, Linkage to CRDB Bank Accounts
MicroCapital Universe Profile: Millicom International Cellular (Tigo)
MicroCapital Universe Profile: Bharti Airtel
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/
Similar Posts:
- MICROCAPITAL BRIEF: China Mobile’s Zong Unveils PayMax Payment Service in Pakistan
- MICROCAPITAL BRIEF: I&M Bank Enables Spenn Mobile App Users to Send Money to Financial Institutions Across Rwanda
- MICROFINANCE PAPER WRAP-UP: “Mobile Money, Interoperability and Financial Inclusion;” by Markus K Brunnermeier et al; published by National Bureau of Economic Research (NBER)
- MICROCAPITAL BRIEF: IsDB, La Poste Tunisienne to Replicate Digital Financial Services via Postal Service in Djibouti
- SPECIAL REPORT: Save the Date for SAM 2023 – African Microfinance Week – in Togo, October 16-20!