Tingo (OTC: TMNA) today announced that Tingo Mobile PLC (“Tingo Mobile”) has opened a head office in Accra, Ghana, and has launched nationwide operations. According to the update, Tingo Mobile’s business in Ghana is held through a wholly owned subsidiary, Tingo Mobile Ghana Ltd (“Tingo Ghana”). To coincide with the launch, Tingo Ghana has agreed on a landmark trade deal with the Kingdom of Ashanti, through the Ashanti Kingdom Investment Trust. Under the terms, the Ashanti Kingdom Investment Trust has committed to enroll a minimum of 2 million new members with Tingo within 120 days of signing and has agreed on a target to increase such enrollments to at least 4 million members.
“When we announced our merger with MICT earlier this year, we explained that one of the key rationales for the transaction was MICT’s ability to help accelerate the globalization and dollarization of our business. As we move towards completion of the merger later this month, today’s launch into Ghana is tangible evidence of the strategy’s execution between MICT and Tingo and represents an important milestone in our international expansion,” said Tingo Mobile CEO and Founder Dozy Mmobuosi. “Having significantly strengthened our dominant position in Nigeria through our recent partnership with AFAN, our goal is to roll out the Tingo Mobile model throughout Africa, and into other parts of the world, where we strive to foster digital and financial inclusion, increase food production efficiency, and improve food security. Through our rapid growth in Nigeria, we have already demonstrated the effectiveness of our business model, including helping farmers increase crop yields, reducing post-harvest losses, and achieving better prices for their crops, and we look forward to bringing the same benefits to the farmers of Ghana.”
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About Tingo Inc.
Tingo is the leading agri-fintech company operating in Africa, with a marketplace platform that empowers social upliftment through mobile, technology and financial access for rural farming communities. Tingo’s novel “device-as-a-service” model allows it to add market leading applications to enable customers to trade, buy top ups, pay bills, access insurance and lending services. With 9.3 million existing customers, Tingo is seeking to expand its operations across select markets in Africa. Tingo’s strategic plan is to become the eminent pan-African agri-fintech business delivering social upliftment and financial inclusion to millions of SME farmers and women-led businesses. For more information about the company, visit www.TingoInc.com.
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