Millicom to sell Tigo Senegal to Wari for USD 129 mln

News Wireless Senegal 7 FEB 2017
Millicom to sell Tigo Senegal to Wari for USD 129 mln

Millicom announced that it has signed an agreement for the sale of its Tigo business in Senegal to Wari Group for USD 129 million. Wari Group, based in Senegal, operates a platform for digital financial services in Africa and is expected to build on the Tigo Money service to expand its business. 

The sale is the latest divestment by Millicom as it focuses more on its Latin American operations. Last year it sold its activities in the Democratic Republic of Congo to Orange, and recent reports suggest it's also considering the disposal of Tigo Ghana. 

Tigo Senegal had 3.55 million mobile customers as of September 2016, up by 17 percent year-on-year. Tigo is Senegal's second-largest mobile operator, with around 23 percent market share, according to the latest figures for Q3 2016 from national regulator ARTP. Its share is still less than half of incumbent Orange, which dominates the mobile market with a 55 percent share. 

Based in Senegal, Wari is a digital platform specialising in money transfer and bill payment services. The platform counts over 1,000 partners and its services are available in over 60 countries, with 45,000 paying points across Africa.

Categories:

Mobile

Companies:

Orange,  Millicom,  Tigo Ghana

Countries:

Senegal

Tags:

Wireless, M&A buyouts & divestments

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