A Transformational Year


Millicom Chief Executive Officer Mauricio Ramos commented:

"2019 was a truly transformational year for Millicom. We began by listing on the Nasdaq Stock Market in the U.S. and by focusing our efforts on the successful integration of Cable Onda in Panama, which we acquired in December 2018. In February, we announced our agreement to acquire market-leading mobile assets in Nicaragua, Panama, and Costa Rica, thus completing our product portfolio and enabling us to provide fixed-mobile convergent services in all nine of the countries where we operate in Latam. Toward year-end, we took part in important spectrum auctions in El Salvador and Colombia, which will allow us to continue to grow and provide the high-quality service that our customers expect.

These meaningful investments in Latam were funded in part by re-allocating capital from Africa, as we divested Chad and supported the IPOs of Jumia and Helios Towers. We capped the year by welcoming many new shareholders to Tigo, after the company's long-term major shareholder, Kinnevik, decided to distribute its 37% stake in Millicom to its own shareholders.

2019 was more challenging than we had anticipated due to political disruption and competitive pressure in some markets, but I believe that we are now stronger than ever to capture the opportunities that lie ahead in 2020 and beyond. Finally, we have pivoted our shareholder remuneration to a combination of dividends and share buybacks, which we believe demonstrates capital allocation discipline and our continued focus on creating shareholder value."

Spotlight on our markets: Millicom serious efforts on voluntarism

In this latest addition to our quarterly results video series, we invite you to take a closer look at the volunteerism activities by Millicom | Tigo employees. In 2019, more than 4,400 employees helped energize our Responsible Leadership in Action programs, volunteering over 51,000 hours on projects across the countries where we operate. Along with opening more avenues for our people to contribute their knowledge and skills in 2019, we also focused on expanding some of the most successful projects and approaches into more communities.

Caring for the communities we serve is a value embedded in our Sangre Tigo culture and our company’s very purpose. Last year, our employees helped entrepreneurial women, teachers, and children of all ages to adopt digital technology in ways that transform their lives and elevate their communities. Working directly with communities not only demonstrates how we live our Sangre Tigo values, it also brings deeper meaning and purpose to our employees’ day to day work and inspires them to do their very best.

In this video example, you will see our employees in Tigo Paraguay which organized a company-wide volunteering event with the goal of bringing together collaborators and beneficiaries of the country’s public institutions “Telecentros”, or technology access centers.

Also, in celebration of International Volunteering Day on December 5, we held simultaneous volunteering activities in all our Latam countries and our Miami regional office, with the participation of over 500 volunteers and benefiting more than 1,400 people.

We invite you to be part of our efforts by watching the video. Enjoy!

Also see:  

 Quarterly Series   Multimedia (VIDEO) 
 Q3 - 2019  Millicom invests to become the clear market leader in Panama and Central America
 Q2 - 2019  Tigo Expansion of B2B Data Centers in LATAM
 Q1 - 2019  Tigo Nicaragua - Our Culture
 Q4 - 2018  Discover Sangre Tigo