Tingo (OTC: IWBB) has strengthened its already strong board of directors with the appointment of two new cochairs: John J. Brown and Christophe Francois Charlier.The two men bring impressive global experience to their new roles and represent a strategic move for the company as it works to list its shares on a national securities exchange such as the New York Stock Exchange. Named as independent cochair, Brown has served as managing partner of Sands Point Consulting LLC as well as an advisor to an array of entrepreneurs, founders and senior corporate leaders to assist and support in developing new business strategies for a rapidly changing market. He has successfully executed a multiyear cross-divisional business strategy designed to sustain profitability. He also has executive experience at Merrill Lynch, most notably as COO in Operations, Technology & Corp. Services Group. An international financier with significant experience in the financial services industry, Charlierwill serve as Tingo’s board cochair. He has garnered experience as chairman of the board of Renaissance Capital, the leading emerging and frontier market investment bank, as well as having served in executive positions and on the boards of some of Russia’s largest mining companies. Tingo is committed to becoming Africa’s leading agri-fintech player working to transform rural farming communities by providing a proprietary platform to meet farmers’ needs. Tingo’s mobile PLC has almost 10 million subscribers and have provided an estimated 30 million mobile devices to customers in Africa since 2014. “I am delighted to welcome these two very experienced executives to the board of Tingo as joint chairman and feel they will make an invaluable contribution to board to enhance shareholder value for the benefit of all shareholders,” said Tingo CEO Dozy Mmoubosi in the press release.
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About Tingo Inc.
Tingo has four core business drivers: mobile phone leasing, mobile voice and data service, Nwassa platform and Tingo Pay. Tingo has distributed almost 30 million mobile handsets since 2014 and will continue to replace the devices of its installed customer base every three years. Through a mobile virtual network, Tingo provides its customers with voice and data services. Tingo’s proprietary agritech platform, Nwassa supports Nigeria’s agricultural value chain with market access. Tingo processes 500,000 daily transactions with a value of more than $8 million, which provides its installed customer base with access to agricultural markets for their crop. Farmers and cooperatives are also supported with packaging, warehousing and cargo logistics. Tingo provides its customers with digital wallet services, which enable them to send and receive domestic payments, monitor cash flow in real time and securely hold money. Tingo provides access to other third-party services such as utility bill payment, virtual airtime top-up, insurance services and alternative lending solutions. Since the launch of Nwassa platform, Tingo has been a dominant player in the B2B fintech vertical. Tingo has entered the B2C fintech vertical to extend its B2B play to mass market use cases beyond agriculture. For more information, visit the company’s website at www.TingoGroup.com.
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