Tigo Ghana inks USD2m deal to expand mobile money service

5 Jun 2014

Tigo Ghana has signed a USD2 million agreement with the International Finance Corporation (IFC) and the MasterCard Foundation with a view to expanding its mobile financial services in the country. The project will run for three years and the company is hoping to accelerate the growth of its Tigo Cash mobile money service.

The new programme is part of the Partnership for Financial Inclusion, a joint USD37.4 million initiative between the IFC and the MasterCard Foundation, which aims to expand microfinance and advance mobile financial services in sub-Saharan Africa. David Crush, manager at IFC Access to Finance, said: ‘The use of mobile phones and alternative distribution infrastructure represents a huge opportunity to fill the gap in the provision of financial services in Ghana, with significant commercial potential for operators able to build a business model that serves the base of the pyramid efficiently.’

Ghana, Millicom Ghana (Tigo)