Tingo Mobile
Tingo Mobile is an Agri-Fintech company that provides a comprehensive platform service through the use of smartphones to empower a marketplace, allowing subscribers/farmers within and outside of the agricultural sector to manage their commercial activities of growing and selling their production to market participants both domestically and internationally.[1][2]
History
Tingo Mobile was founded by Dozy Mmobuosi in 2001, with its headquarters in Lagos, Nigeria, to provide point-of-sale and e-commerce software to retail businesses. In January 2019, the company launched its flagship product, Nwassa, an Agric-focused e-commerce website, along with TingoPay and Tingo POS. The platform was initially a web-based application and later developed into an online cash register and inventory management system that allows businesses to take payments from customers via mobile devices. In November 2022, Tingo Mobile announced a trade deal with major cocoa farmers in Ghana.[3][4] MICT, a subsidiary of Tingo Mobile, and Visa Inc. formed a strategic partnership to launch the Tingo Visa card.[5] The partnership aimed to enhance financial inclusion for the underserved population in Nigeria and other African countries while also facilitating seamless transactions for Tingo Mobile users.[6]
Tingo Mobile expanded its operations to Malawi in 2022, providing its suite of services, including TingoPay and Tingo POS, to businesses in the country. This expansion was part of the company's plan to increase its presence in Africa and offer its innovative solutions to a wider market.[7]
Subsidiaries
Tingo Dubai Multi Commodities Centre (DMCC)
Tingo Dubai Multi Commodities Centre (DMCC) is a holistic commodity trading marketplace that connects buyers and farmers around the world and provides them with tools, technology, and intelligence to fairly trade with each other while saving cost, increasing profit, and providing affordable prices for end users.[8]
Founded by traditional traders who saw that most of the profits were going to middlemen such as brokers, traders, and resellers, Tingo DMCC helps level the playing field for both farmers and buyers by using technology and artificial intelligence, resulting in fairer prices for farmers, competitive pricing for buyers, and affordable goods for end users.
References
- ↑ Parkin, Darren (2023-04-06). "Tingo Group reveals impressive 2022 financial results". CityAM. Retrieved 2023-05-07.
- ↑ "Fintech and Agri-Fintech Company, Tingo Group, Inc., Reports Full Year 2022 Financial Results". Macau Business. 2023-03-31. Retrieved 2023-05-12.
- ↑ "Tingo Mobile signs trade agreement with All Farmers Association of Nigeria". www.freshplaza.com. Retrieved 2023-05-07.
- ↑ Online, Peace FM. "Tingo's Entry Into Ghana To Transform Agriculture Sector Welcomed". Peacefmonline.com - Ghana news. Retrieved 2023-05-12.
- ↑ mrinmoyee (2023-02-15). "Visa, Tingo Mobile team up to boost digital payment access in Africa". Electronic Payments International. Retrieved 2023-05-07.
- ↑ "MICT Signs Partnership Agreement to Build Solar Energy Plant to Power Food Processing Facility | Food Engineering". www.foodengineeringmag.com. Retrieved 2023-05-07.
- ↑ PYMNTS (2023-02-14). "Visa and Tingo Debut Super App for Africa's Farmers". www.pymnts.com. Retrieved 2023-05-07.
- ↑ "Tingo offers 3yrs payment plan to enable farmers boost productivity with tech". Vanguard Nigeria.
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