Millicom is all set to sell its Tigo business in Senegal to Wari Group for $129 million. Wari Group, based in Senegal, is a platform for digital financial services in Africa.
Mauricio Ramos, CEO of Millicom said: “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.”
By combining the mobile telephony offered by Tigo and the services provided by Wari, the group hopes to be in a better position to offer more convenient and affordable services to users.
Kabirou Mbodje, CEO of Wari said: “The acquisition of Tigo illustrates how an international group such as Wari, born in Africa, is proud to be at the forefront of driving the shift towards an ecosystem that provides social added value and tailored for Senegalese and African customers’ needs.”
The transaction is subject to regulatory approvals.