View source for Company:Tingo Group

{{Short description|Agri-fintech company}}
{{Infobox company
| name = Tingo Group, Inc
| former_name = Tingo Inc
| type = Public company
| traded_as = {{NASDAQ|TIO}}
| key_people = {{ubl
  |Chris Cleverly (president)
  |[[Biography:Dozy Mmobuosi|Dozy Mmobuosi]] (founder, former co-CEO)
  |Kenneth Denos (co-CEO)
}}
| industry = {{Unbulleted list|Finance|Agriculture|Food}}
}}

'''Tingo Group, Inc'''. (formerly '''Tingo Inc''') is a publicly traded [[Social:Fintech|fintech]] and agri-fintech conglomerate initially established in Nigeria and now with operations across [[Earth:Africa|Africa]], [[Place:Southeast Asia|Southeast Asia]], and the [[Place:Middle East|Middle East]].<ref>{{Cite web |last=Parkin |first=Darren |date=2023-02-27 |title=Tingo and EVTEC Energy sign partnership agreement that will create more than 12,000 jobs |url=https://www.cityam.com/tingo-and-evtec-energy-sign-partnership-agreement-that-will-create-more-than-12000-jobs/ |access-date=2023-05-07 |website=CityAM |language=en-GB |archive-date=2023-05-07 |archive-url=https://web.archive.org/web/20230507231858/https://www.cityam.com/tingo-and-evtec-energy-sign-partnership-agreement-that-will-create-more-than-12000-jobs/ |url-status=live }}</ref><ref>{{Cite web |title=US-Based Company, Tingo Group Debunks Investigation Report On 'Billionaire' Founder, Dozy Mmobuosi's Alleged Fraud {{!}} Sahara Reporters |url=https://saharareporters.com/2023/06/07/us-based-company-tingo-group-debunks-investigation-report-billionaire-founder-dozy |access-date=2023-09-17 |website=saharareporters.com |archive-date=2023-06-09 |archive-url=https://web.archive.org/web/20230609185425/https://saharareporters.com/2023/06/07/us-based-company-tingo-group-debunks-investigation-report-billionaire-founder-dozy |url-status=live }}</ref>

In November 2023, the US Securities and Exchange Commission (SEC) suspended dealings in Tingo shares, and, in December 2023, filed charges against founder [[Biography:Dozy Mmobuosi|Dozy Mmobuosi]] and three US-based entities: Tingo Group Inc, Agri-Fintech Holdings Inc and Tingo International Holdings Inc, alleging fraudulent financial claims to defraud investors.<ref name=SEC_allegation>{{cite web |title=U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 25913 |url=https://www.sec.gov/litigation/litreleases/lr-25913 |website=SEC.gov |publisher=U.S. SECURITIES AND EXCHANGE |access-date=30 December 2023 |ref=Fraud allegation |archive-date=30 December 2023 |archive-url=https://web.archive.org/web/20231230001401/https://www.sec.gov/litigation/litreleases/lr-25913 |url-status=live }}</ref><ref name="FT-24Dec2023">{{cite news |last1=Adeoye |first1=Aanu |last2=Quinio |first2=Adila |last3=Aliaj |first3=Ortenca |title=‘A fiction’: the fall of a fintech star accused of ‘massive fraud’ |url=https://www.ft.com/content/7825234e-d9aa-4274-bd64-949eea18fa88 |access-date=31 December 2023 |work=Financial Times |date=24 December 2023 |archive-date=29 December 2023 |archive-url=https://web.archive.org/web/20231229013309/https://www.ft.com/content/7825234e-d9aa-4274-bd64-949eea18fa88 |url-status=live }}</ref> On 2 January 2024, Mmobuosi was charged with securities fraud, making false filings with the SEC, and conspiracy charges.

== History ==
In 2001, [[Biography:Dozy Mmobuosi|Dozy Mmobuosi]] launched Fair Deal Concepts Limited, now Tingo Mobile Plc (Nigeria), an agri-fintech company which provided mobile telephones and financial solutions for users in the [[Finance:Primary sector of the economy|agricultural sector]].<ref name=Parkin>{{Cite web |last=Parkin |first=Darren |date=2023-04-06 |title=Tingo Group reveals impressive 2022 financial results |url=https://www.cityam.com/tingo-group-reveals-impressive-2022-financial-results/ |access-date=2023-08-18 |website=CityAM |language=en-GB |archive-date=2023-09-29 |archive-url=https://web.archive.org/web/20230929005707/https://www.cityam.com/tingo-group-reveals-impressive-2022-financial-results/ |url-status=live }}</ref><ref>{{Cite web |last=Writer |first=Verdict Staff |date=2023-02-15 |title=Visa, Tingo Mobile team up to boost digital payment access in Africa |url=https://www.electronicpaymentsinternational.com/news/visa-tingo-mobile-africa/ |access-date=2023-08-18 |website=Electronic Payments International |language=en-US |archive-date=2023-05-31 |archive-url=https://web.archive.org/web/20230531192509/https://www.electronicpaymentsinternational.com/news/visa-tingo-mobile-africa/ |url-status=live }}</ref>

In 2002, Mmobuosi launched Nigeria's first SMS banking solution (sill used by a large bank today). In 2013, two mobile phone assembly facilities were set up in Nigeria (Lakowe and Lugbe). Tingo Mobile claimed these facilities had produced and distributed over 20 million mobile devices.<ref>{{Cite web |last= |first= |title=iWeb Inc. completed the acquisition of Tingo Mobile Plc. |url=https://www.prnewswire.com/news-releases/iweb-inc-completed-the-acquisition-of-tingo-mobile-plc-301357783.html |access-date=2024-01-05 |website=www.prnewswire.com |language=en}}</ref> In October 2018, Tingo International announced that it had shut down its two handset manufacturing plants in Nigeria and relocated manufacture to China.<ref>{{Cite web |title=FOREX: Tingo International Shuts Nigerian Plants Relocates to China - THISDAYLIVE |url=https://www.thisdaylive.com/index.php/2020/12/07/forex-tingo-international-shuts-nigerian-plants-relocates-to-china |access-date=2023-08-18 |website=www.thisdaylive.com |language=en |archive-date=2023-08-18 |archive-url=https://web.archive.org/web/20230818165608/https://www.thisdaylive.com/index.php/2020/12/07/forex-tingo-international-shuts-nigerian-plants-relocates-to-china |url-status=live }}</ref> 

In January 2020, Mmobuosi created Delaware-based Tingo International Holdings (TIH) as Tingo Mobile's U.S. holding company, and undertook a share exchange, effective February 2020, through which TIH became Tingo Mobile’s sole shareholder.<ref name="SEC complaint">{{cite web |title=SEC complaint Case 1:23-cv-10928   Document 1   Filed 12/18/23 |url=https://www.sec.gov/files/litigation/complaints/2023/comp25913.pdf |access-date=2 January 2024 |website=Securities and Exchange Commission |archive-date=2 January 2024 |archive-url=https://web.archive.org/web/20240102115031/https://www.sec.gov/files/litigation/complaints/2023/comp25913.pdf |url-status=live }}</ref> In early 2020, the company unveiled Reno Omokri as its brand ambassador.<ref>{{Cite web |title=Tingo Mobile Unveils Reno Omokri as Brand Ambassador - THISDAYLIVE |url=https://www.thisdaylive.com/index.php/2020/02/20/tingo-mobile-unveils-reno-omokri-as-brand-ambassador |url-status=live |archive-url=https://web.archive.org/web/20230818165609/https://www.thisdaylive.com/index.php/2020/02/20/tingo-mobile-unveils-reno-omokri-as-brand-ambassador |archive-date=2023-08-18 |access-date=2023-08-18 |website=www.thisdaylive.com |language=en}}</ref> Goodluck Jonathan, former president of Nigeria, and Olusegun Olutoyin Aganga, former Nigerian minister for Trade, Industry and Investment were on the board of Tingo as of June 2020.<ref>[https://vdocuments.mx/tingo-report-h1-2020-1-olusegun-aganga-march-31-2020-5000000-dr-goodluck.html?page=1 TINGO INTERNATIONAL HOLDINGS, INC. Audited Report and Financial Statement For the period January 10th, 2020 to June 30th, 2020] {{Webarchive|url=https://web.archive.org/web/20240101104236/https://vdocuments.mx/tingo-report-h1-2020-1-olusegun-aganga-march-31-2020-5000000-dr-goodluck.html?page=1 |date=2024-01-01 }}. Accessed 2 January 2023.</ref><ref name="ioNigeria">{{cite news |date=19 February 2020 |title=Tingo Appoints Former Nigerian President, Dr Goodluck Jonathan as Advisory Board’s Chair |work=ioNigeria |url=https://ionigeria.com/tingo-appoints-former-nigerian-president-dr-goodluck-jonathan-as-advisory-boards-chair/ |access-date=2 January 2024 |archive-date=1 January 2024 |archive-url=https://web.archive.org/web/20240101112747/https://ionigeria.com/tingo-appoints-former-nigerian-president-dr-goodluck-jonathan-as-advisory-boards-chair/ |url-status=live }}</ref>

In August 2021, Tingo Mobile Plc became a public company when acquired by iWeb Inc in an all-stock deal worth $3.7 Billion. The merged company was renamed Tingo Inc and Mmobuosi was appointed CEO.<ref name="Nasdaq-19Aug2021">{{cite news |date=19 August 2021 |title=iWeb Inc. completed the acquisition of Tingo Mobile Plc. |url=https://www.nasdaq.com/press-release/iweb-inc.-completed-the-acquisition-of-tingo-mobile-plc.-2021-08-19 |url-status=live |archive-url=https://web.archive.org/web/20240101101712/https://www.nasdaq.com/press-release/iweb-inc.-completed-the-acquisition-of-tingo-mobile-plc.-2021-08-19 |archive-date=1 January 2024 |access-date=2 January 2024 |work=Nasdaq}}</ref>

In September 2021, MELD announced a three-way partnership with Tingo International Holdings and Ubuntu Tribe – an ethical firm which tokenises natural resources.<ref>{{Cite web |last=Russell-Jones |first=Lily |date=2021-09-30 |title=Exclusive: MELD to launch gold-backed stablecoin on Cardano network |url=https://www.cityam.com/meld-announces-at-crypto-summit/ |access-date=2024-01-05 |website=CityAM |language=en-GB}}</ref>

In March 2022, doubts were raised about Tingo Mobile claims to have signed up over 12 million Nigerian farmer customers. Experts expressed surprise at Tingo claims of widespread mobile platform adoption; farmer co-operative organisations also denied any knowledge of Tingo.<ref name="Wee-Tracker-16Mar2022">{{cite news |last1=Nzekwe |first1=Henry |title=Fuzzy Details Mar Tingo’s Obscure Billion-Dollar Business In Nigeria |url=https://weetracker.com/2022/03/16/tingo-agri-fintech-nigeria/ |access-date=2 January 2024 |work=Wee Tracker |date=16 March 2022 |archive-date=1 January 2024 |archive-url=https://web.archive.org/web/20240101171505/https://weetracker.com/2022/03/16/tingo-agri-fintech-nigeria/ |url-status=live }}</ref> By this stage, neither Goodluck Jonathan nor Reno Omokri, former spokesperson for Goodluck Jonathan, remained on Tingo's board.<ref name="Wee-Tracker-16Mar2022" />

In November 2022, the company was announced as the official sponsor of the Nigeria Professional Football League where it sponsored the Nigeria Federation Cup with a cash prize of N100million for the winner.<ref>{{Cite web |title=Tingo Dangles Goodies for Fans at NPFL-Dozy Mmobuosi Foundation Tourney  |url=https://www.thisdaylive.com/index.php/2022/12/02/tingo-dangles-goodies-for-fans-at-npfl-dozy-mmobuosi-foundation-tourney?amp=1 |access-date=2023-09-18 |website=www.thisdaylive.com |archive-date=2023-12-25 |archive-url=https://web.archive.org/web/20231225191554/https://www.thisdaylive.com/index.php/2022/12/02/tingo-dangles-goodies-for-fans-at-npfl-dozy-mmobuosi-foundation-tourney?amp=1 |url-status=live }}</ref><ref>{{Cite web |last=Areo |first=Samuel |date=2022-11-24 |title=₦100m Prize Money for NPFL Pre-season Tournament |url=https://www.aclsports.com/%E2%82%A6100m-prize-money-for-npfl-pre-season-tournament/ |access-date=2023-09-18 |website=ACLSports |language=en-GB |archive-date=2023-12-25 |archive-url=https://web.archive.org/web/20231225194603/https://aclsports.com/%E2%82%A6100m-prize-money-for-npfl-pre-season-tournament/ |url-status=live }}</ref>

In December 2022, Tingo Mobile was sold by Agri-Fintech to [[Finance:Nasdaq|Nasdaq]]-listed MICT, a global fintech and agri-fintech group, again through an all-stock merger, which valued Tingo at more than $1bn and gave it access to US capital markets.<ref name="FT-24Dec2023"/> Subsequently, on February 27, 2023, MICT changed its name to Tingo Group, Inc.<ref>{{Cite web |last=Mamtora |first=Manshi |date=2023-02-24 |title=MICT will now trade as Tingo Group {{!}} Seeking Alpha |url=https://seekingalpha.com/news/3940664-mict-will-now-trade-as-tingo-group |access-date=2023-05-07 |website=seekingalpha.com |language=en |archive-date=2023-05-07 |archive-url=https://web.archive.org/web/20230507231444/https://seekingalpha.com/news/3940664-mict-will-now-trade-as-tingo-group |url-status=live }}</ref><ref>{{Cite web |author=Staff Reporter |date=2022-11-11 |title=Tingo Mobile launches trade deal for major cocoa farmers in Ghana |url=https://farmersreviewafrica.com/tingo-mobile-launches-trade-deal-for-major-cocoa-farmers-in-ghana/ |access-date=2023-05-12 |website=Farmers Review Africa |language=en-US |archive-date=2023-05-12 |archive-url=https://web.archive.org/web/20230512062938/https://farmersreviewafrica.com/tingo-mobile-launches-trade-deal-for-major-cocoa-farmers-in-ghana/ |url-status=live }}</ref><ref name=FT-06Jun2023>{{Cite news |last1=Kerr |first1=Simeon |last2=Quinio |first2=Akila |last3=Adeoye |first3=Aanu |date=2023-06-06 |title=Shares in fintech Tingo slump after Hindenburg takes short position |work=Financial Times |url=https://www.ft.com/content/10522395-70c5-49ee-aa8f-34247ddf0e88 |access-date=2023-09-17 |archive-date=2023-09-21 |archive-url=https://web.archive.org/web/20230921163119/https://www.ft.com/content/10522395-70c5-49ee-aa8f-34247ddf0e88 |url-status=live }}</ref>

=== Fraud allegations ===
In June 2023, Nasdaq-listed shares in Tingo Group plunged in value after a report from [[Finance:Short|short seller]] [[Company:Hindenburg Research|Hindenburg Research]] said the company was an "exceptionally obvious scam".<ref name=FT-06Jun2023/> The company denied the Hindenburg report claims<ref name="Whitehouse-12Jun2023">{{cite news |last1=Whitehouse |first1=David |title=Nasdaq-listed Tingo denies ‘scam’ claims from short-seller Hindenburg Research |url=https://www.theafricareport.com/312295/nasdaq-listed-tingo-denies-scam-claims-from-short-seller-hindenburg-research/ |access-date=24 July 2023 |work=Africa Report |date=12 June 2023 |archive-date=17 June 2023 |archive-url=https://web.archive.org/web/20230617202042/https://www.theafricareport.com/312295/nasdaq-listed-tingo-denies-scam-claims-from-short-seller-hindenburg-research/ |url-status=live }}</ref> and appointed lawyers White & Case to review the report's claims.<ref name="Yahoo">{{cite news |title=Tingo Group Engages Independent Counsel to Conduct Review of Assertions Made in Short-Seller Report |url=https://finance.yahoo.com/news/tingo-group-engages-independent-counsel-130500602.html |access-date=24 July 2023 |work=Yahoo Finance |date=8 June 2023 |archive-date=24 July 2023 |archive-url=https://web.archive.org/web/20230724102701/https://finance.yahoo.com/news/tingo-group-engages-independent-counsel-130500602.html |url-status=live }}</ref> In September, Tingo Group declared itself innocent of Hindenburg's allegations based on an investigation by its own outside counsel "and further investigative work of its own".<ref name="TechCabal">{{cite news |last1=Augustine |first1=Abraham |title=Tingo Group waves aside Hindenburg allegations as it announces ~$1 billion in H12023 revenue |url=https://techcabal.com/2023/09/01/tingo-group-waves-hindenburg-allegations-as-it-claims-almost-1-billion-in-2023-revenue/ |access-date=1 January 2024 |work=TechCabal |date=1 September 2023 |archive-date=1 January 2024 |archive-url=https://web.archive.org/web/20240101171503/https://techcabal.com/2023/09/01/tingo-group-waves-hindenburg-allegations-as-it-claims-almost-1-billion-in-2023-revenue/ |url-status=live }}</ref> Hindenburg described Tingo's claims as "brazen and obvious fabrications".<ref>{{cite web |title=9/5/2023 Update: Further Response To Tingo’s Absurd Claims And Obfuscation From The Company’s September 1st Release |url=https://hindenburgresearch.com/tingo-scam-forges-ahead/ |website=Hindenburg Research |access-date=1 January 2024 |archive-date=1 January 2024 |archive-url=https://web.archive.org/web/20240101171503/https://hindenburgresearch.com/tingo-scam-forges-ahead/ |url-status=live }}</ref> On 18 September 2023, Tingo Group appointed Dozy Mmobuosi and Kenneth Denos interim as Co-CEOs.<ref>{{Cite web |last=Mendonça |first=Elaine |date=2023-09-18 |title=Tingo Group Announces Change in Leadership and Board Appointments |url=https://beststocks.com/tingo-group-announces-change-in-leadership-an/ |access-date=2023-09-18 |website=Best Stocks |language=en-US}}</ref>

On 13 November 2023, the US Securities and Exchange Commission halted trading in Tingo Group shares<ref name="SEC-13Nov2023">{{cite web |title=SECURITIES EXCHANGE ACT OF 1934 Release No. 34-98920 / November 13, 2023 |url=https://www.sec.gov/files/litigation/suspensions/2023/34-98920.pdf |website=Securities and Exchange Commission |publisher=SEC |access-date=2 January 2024 |archive-date=1 January 2024 |archive-url=https://web.archive.org/web/20240101160830/https://www.sec.gov/files/litigation/suspensions/2023/34-98920.pdf |url-status=live }}</ref> and that of related entity Agri-Fintech Securities<ref name="SEC-13Nov2023-B">{{cite web |title=SECURITIES EXCHANGE ACT OF 1934 Release No. 34-98921 / November 13, 2023 |url=https://www.sec.gov/files/litigation/suspensions/2023/34-98921.pdf |website=Securities and Exchange Commission |publisher=SEC |access-date=2 January 2024 |archive-date=14 November 2023 |archive-url=https://web.archive.org/web/20231114142706/https://www.sec.gov/files/litigation/suspensions/2023/34-98921.pdf |url-status=live }}</ref> after finding inaccuracies in their disclosures.<ref name="Semafor">{{cite news |title=SEC suspends trading of Tingo shares due to “lack of accurate” information |url=https://www.semafor.com/article/11/14/2023/tingo-shares-suspended-by-sec |access-date=1 January 2024 |work=Semafor |date=14 November 2023 |archive-date=1 January 2024 |archive-url=https://web.archive.org/web/20240101160813/https://www.semafor.com/article/11/14/2023/tingo-shares-suspended-by-sec |url-status=live }}</ref> While the SEC suspension of shares expired in late November, Nasdaq chose to keep trading of Tingo securities halted pending a review of provided information.<ref name="AfrikanHeroes-30Nov2023">{{cite news |title=Turbulence Continues: Nasdaq Keeps Tingo Group Further Suspended Amid New Query |url=https://afrikanheroes.com/2023/11/30/turbulence-continues-nasdaq-keeps-tingo-group-further-suspended-amid-new-query/ |access-date=2 January 2024 |work=Afrikan Heroes |date=30 November 2023 |archive-date=2 January 2024 |archive-url=https://web.archive.org/web/20240102112512/https://afrikanheroes.com/2023/11/30/turbulence-continues-nasdaq-keeps-tingo-group-further-suspended-amid-new-query/ |url-status=live }}</ref>

In December 2023, the SEC announced charges against Mmobuosi and three US-based entities: Tingo Group Inc, Agri-Fintech Holdings Inc and Tingo International Holdings Inc, alleging fraudulent financial claims to defraud investors. SEC alleged that fraud's roots "date back years", beginning in at least 2019 with Mmobuosi creating fake financial statements and Mmobuosi siphoned hundreds of millions of investors' money for his personal benefit. The SEC's 72-page complaint also outlines allegedly fraudulent transactions involving Tingo Mobile in December 2022 and Tingo Foods in February 2023.<ref name="SEC complaint"/> Auditor [[Company:Deloitte|Deloitte]] had given Tingo Group a clean, unqualified audit for its 2022 accounts, leading Hindenburg to question if Deloitte had "missed or rushed through procedures".<ref name="FT-18Dec2023">{{cite news |last1=Adeoye |first1=Aanu |last2=Quinio |first2=Akila |title=SEC charges fintech Tingo chief with ‘massive’ fraud after Hindenburg short position |url=https://www.ft.com/content/228fac01-1e93-4162-8f14-dcac297a44ad |access-date=1 January 2024 |work=Financial Times |date=18 December 2023 |archive-date=1 January 2024 |archive-url=https://web.archive.org/web/20240101100332/https://www.ft.com/content/228fac01-1e93-4162-8f14-dcac297a44ad |url-status=live }}</ref>

On 20 December 2023, Tingo Group said Mmobuosi was temporarily stepping down as interim co-CEO.<ref>{{Cite news |date=20 December 2023 |title=Tingo Group CEO temporarily steps down after US SEC charges |work=Reuters |url=https://www.reuters.com/technology/tingo-group-ceo-temporarily-steps-down-after-us-sec-charges-2023-12-20/ |access-date=1 January 2024}}</ref>  Following the SEC charges, on 21 December 2023, director John J Brown resigned from Tingo's board;<ref name="MScreener-21Dec2023">{{cite web |title=Tingo Group, Inc. Announces Changes to its Board |url=https://www.marketscreener.com/quote/stock/TINGO-GROUP-INC-47381980/news/Tingo-Group-Inc-Announces-Changes-to-its-Board-45624807/ |website=Market Screener |access-date=2 January 2024 |archive-date=2 January 2024 |archive-url=https://web.archive.org/web/20240102165233/https://www.marketscreener.com/quote/stock/TINGO-GROUP-INC-47381980/news/Tingo-Group-Inc-Announces-Changes-to-its-Board-45624807/ |url-status=live }}</ref> the following day, Jamie Khurshid and C. Derek Campbell, also resigned from board.<ref name="MScreener-28Dec2023">{{cite web |title=Tingo Group, Inc. Announces Board Resignations |url=https://www.marketscreener.com/quote/stock/TINGO-GROUP-INC-47381980/news/Tingo-Group-Inc-Announces-Board-Resignations-45646867/#:~:text=s%20Board%20on%20September%2018,of%20the%20Company%2C%20effective%20immediately. |website=Market Screener |access-date=2 January 2024 |archive-date=2 January 2024 |archive-url=https://web.archive.org/web/20240102165137/https://www.marketscreener.com/quote/stock/TINGO-GROUP-INC-47381980/news/Tingo-Group-Inc-Announces-Board-Resignations-45646867/#:~:text=s%20Board%20on%20September%2018,of%20the%20Company%2C%20effective%20immediately. |url-status=live }}</ref> Christophe Charlier had refused to sign off Tingo financial reports and resigned in April 2023.<ref name="Charlier">{{cite web |title=Exhibit 17 - Resignation letter of Christope F Charlier |url=https://www.sec.gov/Archives/edgar/data/1648365/000110465923051351/tm2313922d1_ex17.htm |website=Securities and Exchange Commission |access-date=2 January 2024 |archive-date=2 January 2024 |archive-url=https://web.archive.org/web/20240102170323/https://www.sec.gov/Archives/edgar/data/1648365/000110465923051351/tm2313922d1_ex17.htm |url-status=live }}</ref>

On 2 January 2024, Mmobuosi was charged with securities fraud, making false filings with the Securities and Exchange Commission, and conspiracy charges.<ref name="ASANY">{{cite web |title=Founder And Former CEO Of Tingo Companies Charged With Securities Fraud |url=https://www.justice.gov/usao-sdny/pr/founder-and-former-ceo-tingo-companies-charged-securities-fraud |website=U.S. Attorney's Office, Southern District of New York |access-date=3 January 2024 |archive-date=2 January 2024 |archive-url=https://web.archive.org/web/20240102230723/https://www.justice.gov/usao-sdny/pr/founder-and-former-ceo-tingo-companies-charged-securities-fraud |url-status=live }}</ref>

== Subsidiaries ==

=== Tingo Mobile ===
Tingo Mobile is an [[Social:Fintech|Agri-Fintech]] company that provides a platform service through the use of smartphones to empower a marketplace to allow 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.<ref>{{Cite web |date=2022-10-21 |title=Tingo Mobile signs trade agreement with All Farmers Association of Nigeria |url=https://www.freshplaza.com/africa/article/9471095/tingo-mobile-signs-trade-agreement-with-all-farmers-association-of-nigeria/ |access-date=2023-09-17 |website=www.freshplaza.com |language=EN |archive-date=2023-05-09 |archive-url=https://web.archive.org/web/20230509112423/https://www.freshplaza.com/africa/article/9471095/tingo-mobile-signs-trade-agreement-with-all-farmers-association-of-nigeria/ |url-status=live }}</ref> Tingo connects farmers to markets, services, and resources via Nwassa, its digital AgriTech marketplace platform, which commenced its operations in April 2021.<ref>{{Cite web |date=2021-12-17 |title=How Tingo Is Using Agri-Fintech To Change Farming in Africa |url=https://www.forbesafrica.com/brand-voice/2021/12/17/how-tingo-is-using-agri-fintech-to-change-farming-in-africa/ |access-date=2024-01-05 |website=www.forbesafrica.com |language=en}}</ref>

=== Tingo Foods ===
Tingo Food is a wholly owned subsidiary of Tingo Group. It offers food processing and production services operating in [[Place:Lagos|Lagos, Nigeria]] and was founded by [[Biography:Dozy Mmobuosi|Dozy Mmobuosi]] and with Neha Mehta as the CEO.<ref>{{Cite web |last=Takouleu |first=Jean Marie |date=2023-02-28 |title=NIGERIA: Evtec to install a 110 MWp solar power plant for Tingo Foods in the Delta |url=https://www.afrik21.africa/en/nigeria-evtec-to-install-a-110-mwp-solar-power-plant-for-tingo-foods-in-the-delta/ |access-date=2023-05-07 |website=Afrik 21 |language=en-US |archive-date=2023-05-07 |archive-url=https://web.archive.org/web/20230507231444/https://www.afrik21.africa/en/nigeria-evtec-to-install-a-110-mwp-solar-power-plant-for-tingo-foods-in-the-delta/ |url-status=live }}</ref>

=== Tingo DMCC ===
Tingo DMCC operates a commodities trading platform and commodity export business, connecting farmers and buyers around the world to facilitate fair trade and market access.<ref>{{Cite web |title=Micronet Enertec Technologies Inc.: MICT Announces Rebranding and Name Change to Tingo Group, Inc - Form 8-K - MoneyController (ID 1169933) |url=https://www.moneycontroller.co.uk/finance-news/micronet-enertec-technologies-inc/mict-announces-rebranding-and-name-change-to-tingo-group-inc-form-8-k-1169933 |access-date=2023-05-07 |website=www.moneycontroller.co.uk |language=en |archive-date=2023-05-07 |archive-url=https://web.archive.org/web/20230507232952/https://www.moneycontroller.co.uk/finance-news/micronet-enertec-technologies-inc/mict-announces-rebranding-and-name-change-to-tingo-group-inc-form-8-k-1169933 |url-status=live }}</ref>

=== TingoPay Super-App ===
In partnership with [[Company:Visa Inc.|Visa]], TingoPay Super-App provides payment services, e-wallet, and a range of services to its customers, as well as merchant services to businesses across various sectors.<ref>{{Cite web |last=PYMNTS |date=2023-02-14 |title=Visa and Tingo Debut Super App for Africa's Farmers |url=https://www.pymnts.com/financial-inclusion-3/2023/visa-and-tingo-debut-super-app-for-africas-farmers/ |access-date=2023-05-07 |website=www.pymnts.com |language=en-US |archive-date=2023-12-30 |archive-url=https://web.archive.org/web/20231230135019/https://www.pymnts.com/news/retail/2023/pink-taylor-swift-resolutions-retailers-must-make-2024/?postType=partial |url-status=live }}</ref>

== References ==
{{reflist}}

[[Category:Financial technology companies]]

{{Sourceattribution|Tingo Group}}