Tigo introduces a cross-border mobile money transfer service between Rwanda and Tanzania
Millicom International Cellular, a Luxembourg-based telecommunications company also known as Tigo, recently introduced a cross-border mobile money transfer service between Rwanda and Tanzania that includes currency conversion. The service allows Tigo Cash and Tigo Pesa mobile banking subscribers in Rwanda and Tanzania, respectively, to send money to each other using their mobile phones.
According to Mr Maramba, General Manager for Tigo Rwanda, the service is intended to provide convenient local-currency money transfers as an alternative to traditional money-transfer transactions that deliver mostly in US dollars. The service currently is being made available free of charge.
There are a reported 694 000 active users of Tigo Cash in Rwanda and 2.7 million active users of Tigo Pesa in Tanzania as at year-end 2013.