Communications technology and services firm, Ericsson has partnered with Tigo Senegal to launch a mobile money solution, Tigo Cash.
In a statement Ericsson said the mobile service is based on its wallet platform solution and allows Tigo subscribers to conduct mobile financial services throughout West Africa.
Tigo is aiming for Tigo Cash to become the preferred payment method in Senegal, the statement adds.
Diego Camberos, managing director of Millicom (Tigo) in Senegal said, "Mobile financial services are highly important to our subscribers and to drive continued success, it was important for us to speed up an easy to use, secure and reliable offering to market."
Peter Heuman, vice president, head of M-Commerce at Ericsson added, "Ericsson is helping Tigo and its partners make mobile money for the unbanked and underserved a reality in West Africa."
Earlier this week Fredrik Jejdling, president of Ericsson sub-Saharan Africa noted that the mobile phone would be the key driver of financial services in Africa.
Jejdling was speaking at the AfricaCom conference in Cape Town, South Africa and stated that 80% of the continent's population still remains unbanked.
He explained that all those individuals who are unbanked can be banked using mobile connectivity.
"Sending money should be as easy as sending an SMS," said Jejdling
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