EconomyFinancialTelecomm its history and transformations

Telecomm its history and transformations

In May of this year, President Andrés Manuel López Obrador announced that Telecomm would become Financial for Welfare. But this is not the first change that the organism goes through. We tell you about its history and evolution in the country.

In 1986, Telégrafos Nacionales was created, whose origin dates back to 1851, the year in which the president, Mariano Arista, accompanied by Juan de la Granja as General Manager of Telegraphs, inaugurated the first telegraph line between Mexico City and the town of Nopalucan, located in Puebla. The line complied with the establishment of the 40 leagues required by the concession in at least two years on the Mexico-Veracruz route.

Years later, President Benito Juárez created the dependency of the Telegraphic Lines of the Supreme Government and formulated the first effective Regulation. In March 1867, Juárez decreed the “federalization” of the telegraphs that operated through concessions to private entrepreneurs.

However, a moment of significant development of the telegraph lines would come during the years of Porfirio Díaz’s government, which later would also be of great help to the development of the revolutionary movement. The growth of the telegraph in Mexico was thanks to its desire to modernize the country, thus allowing the entry of foreign investment to develop the mining, oil, railways and with these telegraphy.

The Mexican telegraph service, which since 1879 had been licensed to the Mexican Telegraph and Western Union Telegraph companies, passed into the hands of the Mexican government in 1949 and is granted to the General Directorate of Telecommunications.

Surge Telecomm

The history of the organization as Telecomm begins on November 17, 1989, after integrating the activities of said directorate of the Ministry of Communications and Transportation.

Its objective was to assist the Federal Executive in the provision of public telegraph and radio telegraphy services, considered strategic, as well as for communication via satellite, playing a very important role in the provision of telecommunications services.

Satellite communication was established in the Constitution as a strategic area reserved for the State, which was modified in 1995, remaining as a priority activity open to the private sector, where the State guarantees satellite capacity for the provision of social services and of national security. In 1997, the fixed service satellite system that was in charge of Telecomm was disincorporated, which kept the teleports and the mobile and rural satellite service in the

Telecomm is recognized by society, particularly by the low-income urban population and rural areas of the country, since the network of telegraph branches has a presence in places where the density of banking and communication services is low or null.

Telecomm now Financial for Well-being

In May of this year, López Obrador announced the change of , an institution that in addition to receiving remittances will be in charge of granting credits to the word and batches for well-being.

In August of this year, the president sent a decree for Financiera para el Bienestar to act as a collection agent for the Financial Support Program for Family Micro-enterprises, better known as “Credits to the Word” and “Tandas del Bienestar”, programs that were implemented during the most intense time of the pandemic in order to support microentrepreneurs.

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