In October 2015, the mobile telecom and media company Millicom announced its acquisition of an 85 per cent stake in Zanzibar Telecom (Zantel), as part of a joint venture with the Government of Zanzibar. The transaction unites Zantel, the largest mobile telecom operator on the island of Zanzibar, with Tigo, Millicom's main commercial brand and Tanzania’s leading service provider in mobile communications and Mobile Financial Services.
Zantel, which started in 1999, operates 2G and 3G services from more than 545 network sites and has built up a five per cent share of the Tanzanian mobile market.
Millicom was founded in 1990 and is headquartered in Luxembourg. The company employs more than 15,000 people and serves more than 60 million customers in 14 emerging markets in Africa and Latin America.
Millicom was Africa’s fastest growing mobile telecom operator during the second quarter of 2015. In 2014, the company, which is listed on the NASDAQ OMX Stockholm under the symbol MIC, generated revenue of USD 6.4 billion and EBITDA of USD 2.1 billion. As a leading exponent of the Digital Lifestyle in emerging markets, Millicom believes that access to the internet is a basic human right. The company sets the pace when it comes to connecting the unconnected, and has a 25-year history of delivering customer-centric services and ground-breaking solutions.
In 2010, Millicom’s award winning mobile financial services were launched in Tanzania under the brand name Tigo Pesa, to promote greater financial inclusion. Tigo Pesa’s partnership with World Remit, its creation of Africa’s first universal interoperability agreement, its cross-border mobile money exchange service with currency conversion included, and its payment of quarterly returns on mobile money account balances have since helped to more than double banking penetration in Tanzania within five years.
Millicom is committed to diversity, leadership development and local recruitment of the best. Much of the talent driving the company’s innovation is sourced through internal recruitment pipelines with Tanzania a net exporter of talent to other Millicom operations in Africa and to head office.