DAKAR Feb 7 Luxembourg-based Millicom
International Cellular said on Tuesday it had signed
an agreement to sell its Tigo Senegal subsidiary to the local
Wari group for $129 million.
Millicom provides mobile services to more than 57 million
customers and its business focuses on Latin America and Africa,
while Wari provides digital financial services in Africa with
500,000 sending outlets worldwide and 45,000 paying points.
Tigo is the second biggest mobile phone operator in Senegal
The deal will enable Wari to offer more convenient and
affordable services, Wari's chief executive, Kabirou Mbodje,
said in a statement.
The transaction is subject to regulatory approval by
authorities in Senegal.
Digital financial services are expanding rapidly in Africa
in parallel with the growth in smartphone use and Wari's move
should enable it to enter the telephony market for the first
(Reporting by Diadie Ba; Editing by Matthew Mpoke Bigg and