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Tingo Inc. (IWBB) Joins the Billion Dollar Club – Twice

Not often does a company gain entry to the billion-dollar club. However, technology and communications pioneer Tingo (OTCQB: IWBB) just did it – twice.  Shortly after going public in a deal valued at $3.7 billion, Tingo rang the billion-dollar bell a second time with its acceptance into IBN’s Billion Dollar Club. This powerful adjunct program created exclusively for IBN CORE Client Partners gives Tingo personal access to Oren Klaff, best-selling author and world-renowned expert on sales, revenue acceleration and high-stakes negotiations. 

Commenting on the recent billion-dollar bonanza, Dozy Mmobuosi, CEO and co-founder of Tingo, stated, “Going public is the next stage in our overarching strategy to build complete digital ecosystems that promote financial inclusion, deliver disruptive financial services, and expand international economic opportunities across the entire continent of Africa. With our proven success in Nigeria, we are already well on our way to becoming the continent’s leading Agri-Fintech player. Going public provides us greater global recognition and access to capital markets which will help expedite our process to becoming a driving force in the economic expansion of the continent. We chose IBN for Tingo’s corporate communications needs based on their history of successfully serving over 500 public companies and their unwavering commitment to clearly communicating our message and helping us achieve our objectives. We were thrilled to discover that we also could get exclusive access to Oren Klaff and his expertise as part of our services and fully expect to rapidly accelerate our revenues and growth with his guidance and tutelage.”

Tingo has been on a 20-year journey to billion-dollar status. Mmobuosi created Tingo in 2001 with a vision to build an ecosystem to support the largely unbanked agricultural sector in Nigeria. Tingo designed first SMS mobile banking and payment platform in Nigeria which is still in use today. With hard work and vision, Tingo has evolved into a rapidly expanding group of Fintech, Agritech, mobile, technology companies. Tingo provides strategic direction and corporate support to its subsidiaries, which offer telecommunications services, smartphones, voice & data services (its Tingo Mobile PLC subsidiary has sold over 21 million mobile devices over the past 7 years) and Agritech solutions, enabling access to global commodities markets, extension services and fintech tools for millions of small farmers.  

With over $600 million in annual revenues and nearly 10 million subscribers, Tingo is Nigeria’s leading Agri-Fintech and device-as-a-service company. Tingo helps farmers acquire mobile phones through a unique leasing plan and connects them to mobile and data networks through its own virtual mobile network. Tingo’s digital platform provides market access for farmers and cooperatives to sell their produce at either wholesale or retail levels, achieving the best possible market price, and currently processes over 500,000 transactions a day. 

Tingo continues to innovate and expand services across the continent, recently launching a beta version of TingoPay, a B2B and B2C Fintech app that will provide financial services to users inside and outside of agriculture offering mobile wallets, payment processing and access to specialist lenders, insurers and pension products. Tingo also plans to roll out a blockchain-based solution that will deliver frictionless trade across borders in Africa. The company’s successful market-proven model gives Tingo the unique ability to deliver the same service model across all of Africa and transform the continent with its innovative fintech and agriculture value chain solutions powered through smartphone technology.

For more information, visit the company’s website at www.TingoGroup.com

NOTE TO INVESTORS: The latest news and updates relating to IWBB are available in the company’s newsroom at https://ccw.fm/IWBB .

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