Connect with us


A World first, Tigo’s parent company Millicom acquires RSwitch Rwanda



Last week, Tigo announced that its parent company Millicom acquired the controlling stake of RSwitch owned by the Frankfurt-based African Development Corporation AG. RSwitch is Rwanda’s main provider of bank-to-bank payment switching services.

This acquisition is a world first, where a telecommunication and media company comes together with a national payment switch.

RSwitch holds one of the two switching licenses in Rwanda, which is a fast-growing market with increasing interoperability between mobile operators and traditional banking services. RSwitch has evolved to become an electronic payment service provider operating internationally with global standards.

Millicom, the international telecommunications and media Company listed in Sweden, provides Mobile Financial Services

(MFS) to over seven million customers In Africa and Latin America.

In February this year, Tigo launched the world’s first cross-border mobile money payment system with integrated currency conversion. The company’s commitment to innovation was underlined in March with the announcement of a new tech incubator, called “think”, to be opened by Millicom with Tigo in Kigali.

Tongai Maramba, the General Manager of Tigo, commented: “This acquisition will enable Tigo and Millicom to become an even more dynamic provider of financial services for the Rwandan market. As we move into an era where more and more money will be exchanged electronically and via mobile devices, we will be a catalyst for the coming innovation in the financial services sector.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Amethyst Streams
App3 weeks ago

5 Reasons Why Amethyst Streams is the Ultimate Destination for Relaxation and Healing

Casting Room Backstage
Entertainment3 weeks ago

5 Essential Elements for a Successful Casting Room Backstage

Ibomma UK
Entertainment3 weeks ago

5 Must-Watch Movies on Ibomma UK for Telugu Movie Lovers

Health & Fitness3 weeks ago

10 Surprising Health Benefits of Piperine You Didn’t Know About

Phone Number
Tech3 weeks ago

5 Reasons Why You Should Save This Phone Number Now

Travel3 weeks ago

Uncovering the Mysteries of Beliktal: 10 Hidden Gems to Explore

James Joyce
Life Style4 weeks ago

5 Fascinating Facts About James Joyce and His Literary Style “Joyciano”

Life Style4 weeks ago

The Top 10 Literotica Tags to Spice Up Your Reading List

Emergency Hotline
App4 weeks ago

10 Tips to Remember When Calling the Emergency Hotline (02045996818)

Red and White Magazine
Life Style4 weeks ago

The Ultimate Guide to Red and White Magazine: Everything You Need to Know

Entertainment4 weeks ago

Exploring the World of Manga: A Guide to Mangatoto

App4 weeks ago

HQFlix: Your Gateway to Premium Streaming Content

Home and Garden4 weeks ago

Chaleturi: The Ultimate Mountain Retreat Experience

Live Sports
App1 month ago

Discover the Benefits of Watching Live Sports with Streameast

Martie Allen
Celebrity1 month ago

The Untold Story of Martie Allen: From Personal Life to Career Success

Entertainment1 month ago

The Shocking Truth Revealed in Chapter 36: I’m Being Raised by Villains

Unsuccessful Draft Pick
Sports1 month ago

The Highs and Lows of Sports: Reflecting on an Unsuccessful Draft Pick

Pata Seca
Food1 month ago

Discover the Delicious Tradition of Pata Seca: A Guide to This Mexican Delicacy

TOTK Techniques
Gaming1 month ago

Level Up Your Gaming Skills with TOTK Techniques for PC Players

Travel1 month ago

Shipn Utsunomiya: Unraveling the Hidden Gems of this Charming City