Millicom this afternoon announced it is selling its Tigo business in Senegal to Wari Group for $129 million. Based in Senegal, Wari Group, is a leading platform for digital financial services in Africa.
The announcement confirms speculations on the fate of the company with various companies linked to the sale. Commenting on the development, Mauricio Ramos, CEO of Millicom said Millicom had been able to empower millions of customers with mobile technology, and to help promote social and financial inclusion across the country.
We are grateful to all of our employees, whose drive and commitment has enabled Tigo Senegal to become such a strong and sustainable business and are confident that Wari Group will build on the current strength of Tigo Senegal,” Ramos said.
Tigo Senegal’s new oners, Wari, said the acquisition is an illustration of how Wari is at the forefront of driving the shift towards an ecosystem that provides social added value and tailored for Senegalese and African customers’ needs.
“By pooling the advantages of mobile telephony offered by Tigo and the world of benefits provided by Wari, a leading platform for digital financial services, we combine the expertise, energies and ambitions of our teams and our two groups in order to offer more convenient and affordable services to users,” said Kabirou Mbodje, CEO of Wari
