From a borrowed line to one billion worth of transactions

6 September 2019

Telecoms

Having started his journey to the top with a borrowed phone line from his neighbour in 2014, Said Issa Khatib is currently one of the biggest Tigo Pesa agents in Zanzibar. The businessman has soared from this humble beginning and grown his business from strength over the past five years to build a multi-million business, thanks to Tigo Pesa and its growing customer base.

 

Khatib who is also the winner of numerous Tigo Pesa awards totalling over 15m/- in the past five years, said he started off with a borrowed line from his neighbour. Like thousands other Wakalas scattered across the country, Khatib saw a huge potential in the company’s mobile money transfer business after securing his own Tigo Pesa Till number five years ago.

 

“I used my neighbours’ line for some time while saving money to obtain my own line. I used to give my neighbour 70 percent of daily earnings while I got 30 percent,” the father of three said while pointing out that his future plan is to be Zanzibar’s super dealer for Tigo, the fastest growing mobile phone service company.

 

At the moment, Khatib’s business transactions have grown from scratch to over Tsh 1.3 billion with a prospect of reaching the Tsh 2 billion monthly transactions by the end of this year.

 

Tigo Pesa, Tigo mobile money platform is a leading player in the market with its 7.6 million subscribers who transact billions of shillings per day.

 

The Tanzania Communication Regulatory Authority (TCRA) latest report indicates that the country’s six major mobile money operators had a total of 22,796,830 subscribers as of March 2019, which shows that the number of mobile users is on the increase.

 

Tigo Tanzania has invested extensively in infrastructure upgrade from 3G to 4G+ network in most parts of the country, which shows also that internet is one of the key drivers for future growth. This connectivity has ensured that Tigo Pesa users in urban and semi urban areas get to utilise the Tigo Pesa App.

 

“Customers find it convenient to use our products such as Tigo Pesa and the Tigo Pesa App that is linked to 50 banks to make their daily transactions,” said Tigo Managing Director, Simon Karikari during a recent interview.

 

He added, “They continue to choose us as their reliable service provider because we make it digitally quick and easy.” Tigo Pesa application which was launched earlier this year has also proven to be a rapidly adopted product by the tech savvy generation because it can perform almost all the functions at fingertip length.

 

Launched in 2010, Tigo Pesa has grown from simply providing remittance services, payments of different bills, paying for products and services at merchant sales points to a fully-fledged platform that enhances financial inclusion in Tanzania.

 

In 2014, Tigo Pesa was successful in launching a few first in the world including; interoperability with other mobile money operators and commercial banks, a service which enables mobile money users to send money to and from other operators directly into their wallets seamlessly, cross border mobile money service with automatic currency conversion, payout of quarterly returns on Tigo Pesa balance.

 

Tigo Pesa has been leading in innovation, constantly adding a variety of products to its portfolio such as; loans, insurance, corporate solutions for collections and bulk disbursements, where companies can disburse directly to wallets of all other players (interoperability bulk disbursement).

 

Tigo Pesa is the fastest growing mobile money financial service in Tanzania, boasting over 7.6 million registered customers and a growing network of over 40,000 merchants and around 85,000 mobile agents.

 

“I also wish to commend all our agents for the instrumental role they play everyday in expanding the reach of mobile financial services across the country,” stated Karikari.

 

Khatib is confident that the sky is the limit, because the returns have been good across the years and his dream is still on track to be Zanzibar’s super dealer for the fastest growing mobile phone service company.

Source: Company Press Release