Tingo International Holdings, Inc., including its consolidated subsidiaries, is a technology and communications company offering principally in Nigeria and 18 other African countries, a comprehensive range of wireless communications products and services for subscribers within and outside of the agricultural sector that are designed to meet the needs of individual consumers and businesses.
Tingo Mobile is connecting Africa by democratizing access to mobile, technology and ﬁnancial services. Our business strategy continues to be focused on capturing an increasing share of the growing African market for wireless services to become a leading provider in Africa of such services over the long term and to initiate wireless services in other countries outside of Africa through Tingo Mobile PLC, and in the United Kingdom, through Tingo Mobile UK LTD.
Africa faces many challenges. These challenges have created opportunities for entrepreneurs willing and ready to take-on Africa’s problems. By solving these problems at the local African level, we are, by extension, providing solutions to global issues.
Tingo Mobile supports the agricultural sector through technology.
In Nigeria, our 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. We currently process over 500,000 transactions a day with a value of $8m USD and an average of $16 USD per transaction. These transactions cover the sale of produce (grain, corn, yam, beans, cassava etc.), settlement, brokerage, escrow and the organization of storage and logistics. The transactions are conducted with complete anonymity and all payments are sent and received from Tingo Mobile wallets giving us complete oversight of the transaction. To keep pace with the demands of an ever-expanding population, our platform also provides an access channel for extension services vital to developing the agricultural sector in Africa.
Outside Nigeria, through several virtual private network relationships, we provide cellular telecommunication services to many West and East African countries including Rwanda, Sierra Leone, Liberia and Ghana. Tingo Mobile has successfully distributed over 3 million Tingo-branded mobile devices for participants in these markets again focusing on the agricultural value chain. In markets outside of Nigeria, Tingo Mobile services extend only to the provision of cellular and data services
Our customers are highly engaged, and most are completely dependent on Tingo Mobile for the successful running and profitability of their farms. This has allowed us to maintain consistent number of customers totalling 9,344,000 for the years 2017, 2018 and 2019 respectively.