Tigo and Urwego Opportunity Bank launched Rwanda’s first
mobile-based savings product, Tigo Sugira, today. Rwanda is on track to
reach its goal of 90% financial inclusion by 2020, and Tigo Sugira will help
boost the level of savings for Rwandans.
Tigo customers can sign up and
open an account for free and within minutes, directly from their mobile by
dialing *200*11# and selecting Tigo Sugira.
All they need is a Tigo Cash account and a National ID. Customers
can then instantly deposit and withdraw money from their savings account
through Tigo Cash.
Tigo Sugira is the most convenient
way to save, with an interest rate of 7% annually – the best in the market.
Whether deposits, withdrawals or opening an account, the service is offered
free of charge. Customers earn 7% interest based on daily average balance, no
matter what their balance is, this interest is paid quarterly.
With Tigo Cash’s large customer
base and the biggest mobile money agent network in Rwanda, Tigo Sugira reaches
people who have previously been excluded from the formal financial sector.
Tigo Sugira is the result of a
close collaboration between Tigo and Urwego Opportunity Bank (UOB).
“We are committed to
bringing secure, convenient and affordable financial services to Rwandans who
have traditionally been excluded from the formal financial sector, and we
believe that Tigo Sugira aligns perfectly with this mission by enabling us to
provide a secure and accessible savings product to all Tigo Cash customers in
Rwanda." said Tineyi Mawocha, CEO of Urwego Opportunity Bank.
Tongai Maramba, CEO, Tigo Rwanda,
added: “Once again, Tigo is proud to
launch an innovative product. Tigo Sugira is setting new standards for
simple and user-friendly financial products. We are very excited to empower our
customers even further”.
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