Millicom Announces $ 250 million Investment

Anatoly Gaviria Jul 14, 2021

The executive president of Millicom, which operates under the TIGO brand, announced a plan for the creation of the “Fintech Hub” in Panama for the entire region, with the aim of expanding its financial services based on the geographic advantage of Panama and its strength from a solid international banking center.

The President of the Republic, Laurentino Cortizo Cohen, held a meeting with Mauricio Ramos, CEO of the multinational Millicom, where it was announced the plan for the creation of a “ Hub Fintech ” in Panama and the investment of 250 million dollars in the expansion of its fixed and mobile internet services throughout the country, including communities of the Colmena Plan.

At the meeting, Ramos highlighted that TIGO’s investment for the 2021-2022 period includes a plan to modernize and expand its fixed and mobile internet services, expanding its coverage throughout the country, including communities in the provinces of Bocas del Toro, Darién, Coclé and the Ngäbe Buglé region.

The President Cortizo Cohen said the decision to modernize the network of Millicom will impact 800 thousand Panamanians, of which 200,000 had no coverage. According to Cortizo, the investment of 250 million from Millicom will be an economic and social decision that will provide coverage in places of difficult access that also belong to the Colmena Plan.

Cortizo Cohen added that after this work tour the great effort of Panamanians to be facilitators of good investments that bring better opportunities to Panama is confirmed.

Meanwhile, Ramos said that by working together with the Government, the company will be able to capitalize on efforts to expand access to telecommunications, increase the country’s competitiveness and create a better and increasingly digital future for all the communities.

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