Tigo Rwanda Licensed to Offer Mobile Money


Tigo Rwanda the country's second largest telecom operator by market share, has been offered a license to operate mobile money transfer services. The company said on Wednesday that the National Bank of Rwanda had offered the Millicom International Cellular-owned firm a license to provide a payment service called Tigo Cash. The technology allows users to send cash to a third party via the SMS.

Once it launches the operator will be the second in the country to offer the most booming service in the telecom sector in the region, after MTN Rwanda. MTN launched its transfer service in February 2010 and counts about 260,000 subscribers. MTN says it has shifted more than $22 million since February 2010 and is now targeting 300,000 subscribers by the end of this year.