(Ecofin Agency) - On March 14, 2019, Moroccan group Maroc Telecom signed an acquisition agreement with Millicom International Cellular (MIC) for full acquisition of Tigo Chad, which is currently the leader of the local market.

This acquisition, subjected to the approval of Chadian authorities, falls within the framework of the Moroccan group’s expansion plan.

The agreement is signed 23 days after the visit of Abdeslam Ahizoune (photo), president of Maroc Telecom’s administrative board, in Chad. Received by Chadian president Idriss Deby Itno, Abdeslam Ahizoune expressed his group’s wish to enter the Chadian market and contribute to the development of the digital sector.

With its digital experience, Maroc Telecom wants to make poor quality services and network coverage problems things of the past by offering innovative services.

Recently, Millicom initiated its withdrawal from the African market in order to concentrate on its more dynamic Latin American markets. The sale of Tigo Chad falls within this framework.

With the sale of Tigo Chad, Tigo Tanzania will be the last subsidiary fully owned by Millicom but, it has a joint venture with Airtel in Ghana (AirtelTigo).