Millicom creates tech incubator in Rwanda
Stockholm, March 31, 2014 – Millicom (Stockholmsbörsen: MIC) today announced the creation of a tech incubator in Rwanda to develop new digital solutions.
The objective is to develop innovative and scalable businesses in which Millicom will take an equity stake.
The incubator, called “think”, will be located in a purpose-built facility in Rwanda’s capital, Kigali. It will be the base from which a small number of high potential entrepreneurs will be selected by a competitive selection process, application details for which will be announced by the local Tigo operation shortly.
Millicom will provide these entrepreneurs with seed financing, structured training and coaching programmes, access to Tigo technical resources for product testing and trials and support in accessing outside investors and customers.
In recent months Tigo in Rwanda has launched the world’s first cross-border mobile money transfer service with integrated currency conversion as well as wifi and mobile payments on local bus services in Kigali. Last year, Tigo passed the two million customers mark having grown by over 25% in 2013 and achieving a 31% market share.
“think” will be launched at an event in Kigali later today attended by Jean-Philbert Nsengimana, Rwanda’s Minister for ICT and Hans-Holger Albrecht, the President and CEO of Millicom.
Commenting on the launch, Hans-Holger Albrecht said “Rwanda is a great place to do business. We know it has some extraordinary local talent whose skills and ingenuity we want to support. We are looking forward to driving the digital revolution with talented youth in all our Tigo operations in Africa.”
For more information and images please contact:
Press Enquiries:
Julian Eccles, VP, Corporate Communications
+44 7720 409374
press@millicom.com
Investor Enquiries:
Justine Dimovic, Director, Head of Investor Relations
+352 27 759479
investors@millicom.com
About Millicom
Millicom is a leading international telecommunications and media company dedicated to emerging markets in Latin America and Africa. Millicom sets the pace when it comes to providing digital lifestyle services to the world’s emerging markets, giving access to the world, primarily through mobile devices. Operating in 15 countries, Millicom offers innovative and customer-centric products. Millicom employs more than 10,000 people and provides mobile, cable, broadband, TV content, online and financial services to over 50 million customers. Founded in 1990, Millicom is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2013 Millicom generated revenue of $5.16 billion and EBITDA of $1.9 billion.
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