Tigo, Airtel, Zantel announce Africa’s first interoperable mobile money agreement

Wednesday, June 4, 2014

Three major telecoms companies operating in Tanzania – Tigo, Airtel and Zantel – are to adopt interoperable mobile money services by the end of the month, the first agreement of its kind of Africa.

According to the agreement, the networks will allow each other’s customers to send money to its own clients, meaning Tanzanians are able to send money to a user regardless of whether they are registered on Tigo Pesa, Airtel Money or EzyPesa.

“With this groundbreaking agreement, the potential number of customers able to send money by mobile to each other in Tanzania, regardless of network, will increase to over sixteen million,” Millicom, owner of Tigo Tanzania, said in a statement.

Hans-Holger Albrecht, Millicom president and chief executive officer (CEO), said: “We are delighted to work with our counterparts to extend the mobile money universe in Tanzania. With this agreement we can help make Tanzania a global pioneer in digital financial inclusion. Interoperability will be a catalyst for growth in the mobile money sector and is long overdue. It’s an example to operators in other countries.”

Source: HumanIPO (link opens in a new window)

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Entrepreneurship
Tags
financial inclusion, financial innovation, mobile money, social enterprise