IWEB: Tingo Inc. nominated in the Environment, Social and Governance category at the next Crypto AM Awards
LOS ANGELES, September 27, 2021 (GLOBE NEWSWIRE) – via InvestorWire – Tingo inc. (OTCQB: IWBB) is a unique agro-fintech company providing, through Tingo Mobile in Nigeria, personal communications services (“PCS”) using GSM technology for subscribers within and outside the agricultural sector. Tingo Mobile has developed a comprehensive agro-fintech and agro-market ecosystem to support the agricultural sector, becoming the leading African provider of such services in the long term. Services include smartphone rental, agro-market, phone top-ups, utility payments, bill payments, and access to insurance and loan services. This is collectively known as NWASSA, a service aimed at supporting financial inclusion and having significant social impact in the agricultural sector. It supports rural communities in line with the SDGs and United Nations ESG principles.
Tingo currently has over 9 million customers who rely on the services of Tingo and NWASSA for the proper functioning of their farms. Tingo’s work with agricultural cooperatives across Nigeria has increased yields, dramatically reduced post-harvest losses, and increased profitability across the country.
Tingo’s commitment to being a force for positive change was recognized in his nomination for the environmental, social and governance award at the next Crypto AM price.
“Tingo is delighted to be recognized for its continued efforts to promote social improvement, financial inclusion, food security and women’s empowerment in our core market in Nigeria and on the African continent” Chris Cleverly, President of Tingo, said following the appointment. “One of our main goals has always been to empower women entrepreneurs of SMEs engaged in the agro-ecosystem to deliver true gender equality and diversity. “
The Crypto AM Awards, due to take place on Thursday, September 30, at the prestigious Leonardo Royal Hotel London, will mark the culmination of the two days Crypto AM Summit. There are a total of 14 prizes up for grabs, all judged by an independent panel of industry experts.
Tingo aims to ensure, in a tangible and measurable way, alignment and compliance with the main United Nations Sustainable Development Goals, including gender equality through the improvement of female entrepreneurship, financial inclusion , poverty reduction and food security. This goal is evidenced by the company’s growing network of agents, which currently numbers around 15,000 members, the overwhelming majority of whom are women.
Tingo intends to become a truly Pan-African company with a global reach. It aims to modernize the continent by providing a complete digital ecosystem to facilitate financial interactions and deliver disruptive microfinance solutions. Thanks to his Tingo Mobile A subsidiary, the company has distributed nearly 30 million mobile phones since 2014, providing an affordable price while allowing customers to spread payments over 36 months.
Africa is the second largest continent in terms of population. It is also by far the youngest, with a median age of 18 for its 1.3 billion inhabitants. Agriculture accounts for 23 percent of sub-Saharan Africa’s GDP and 60 percent of jobs. Tingo believes the building blocks for the growth of the African agricultural industry are in place and the company is well positioned to participate in the rise.
About Tingo inc.
Tingo Inc. is a leading Africa-focused agro-fintech company offering a full platform service through the use of smartphones (using GSM technology). It aims to enable a market of nearly 10 million subscribers within and outside the agricultural sector to manage their business activities of growth and sale of their production to market players both nationally and internationally. The ecosystem provides a ‘one-stop-shop’ solution to enable these subscribers to manage everything from airtime top-ups, bill payment services for utilities and other service providers, access to services. insurance and microfinance to support their ‘seed to sell’ value chain.
Tingo aims to be the first African player in agri-fintech that transforms rural farming communities to connect through our proprietary platform to meet their comprehensive needs in inputs, agronomy, harvesting and market, which generates sustainable income in an impactful way.
Global climate change challenges global productivity for sustainable production and food security. Social improvement is a key area of global focus under the United Nations Sustainable Development Goals (SDGs) and ESG impact investing. The company’s strategy and contract execution provide Africa with the opportunity to be a focal point for resolving several key areas, including food security. Tingo does this through its unique NWASSA service model. Tingo aims to ensure, in a tangible and measurable way, alignment and compliance with the main United Nations SDGs – gender equality through the development of female entrepreneurship, financial inclusion, poverty reduction and zero hunger. Over 60% of rural agriculture employs women in many African countries.
Tingo has identified several strategic partners and key acquisitions in Africa to accelerate its rapid expansion and become the leading agro-fintech operator in Africa. A number of investments in this segment of agricultural technology, banking services and financial technology will provide a solid path to enhance its proven business in Nigeria across the African continent. For more information, visit the company’s website at www.TingoGroup.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions about future events or the future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are predictions only and speak only as of the date hereof. In evaluating such statements, potential investors should carefully consider the various risks and uncertainties identified in this release and the matters defined in the documents filed by the Company with the SEC. These risks and uncertainties could cause the actual results of the Company to differ materially from those indicated in the forward-looking statements.