Tingo District

Tingo Group Announces Interim Co-CEO to Temporarily Step Down by Mutual Agreement

Retrieved on: 
Wednesday, December 20, 2023
TIO, Tingo District, Complaint, Interim, Hindenburg Research, Security (finance), Management

In addition, by mutual agreement with the Company’s Board of Directors, Mr. Mmobuosi will remain stood down until cleared of the allegations made against him.

Key Points: 
  • In addition, by mutual agreement with the Company’s Board of Directors, Mr. Mmobuosi will remain stood down until cleared of the allegations made against him.
  • Tingo will continue to operate, serving the farming cooperatives, their farmer members, and the Company’s other customers, many of whom are heavily reliant on Tingo and its services in support of their daily activities.
  • The Company’s other interim co-CEO, Mr. Ken Denos, will serve as its interim group CEO until further notice.
  • In addition, the management of each group company will remain in their respective roles, with the aim of delivering business stability and continuity pending the outcome of this matter.

Tingo Group Wins ‘Outstanding New Entry’ at The SERAS Africa CSR / Sustainability Awards

Retrieved on: 
Monday, December 18, 2023
Samsung, Procter & Gamble, Biophysical environment, Fidelity Bank, United Nations Global Compact, TIO, CSR, Diageo, Tingo District, Sustainability, Lafarge, First Bank, Aliko Dangote, Vodafone, Access Bank, Cadbury, Zenith Bank, KBL, Use, ExxonMobil, Interim, TotalEnergies, Stakeholder engagement, Coca-Cola, DHL, Organization, Bamburi Cement, Shell, Security (finance)

MONTVALE, N.J., Dec. 18, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable, multi-national fintech, agri-fintech, food processing and commodity trading company, won ‘Outstanding New Entry’ at the 17th annual SERAS Africa CSR & Sustainability Awards held on the evening of Friday, December 15, 2023, having been nominated as a finalist in five categories.

Key Points: 
  • Tingo also received nominations in four other award categories, including Best Company in Food Security, Poverty Reduction, Stakeholder Engagement, and Use of Storytelling/Communications.
  • The SERAS, standing for Sustainability, Enterprise, and Responsibility Awards, are regarded as the gold-standard and most prestigious accolades for corporate social responsibility and sustainability in Africa.
  • Dozy Mmobuosi, Interim Co-Chief Executive Officer of Tingo Group, Inc. commented: “I am extremely proud to win our first SERAS Award and of Tingo’s recognition at Africa’s most prestigious CSR and Sustainability Awards.
  • We would like to thank SERAS for this prestigious award and nominations as we continue making significant progress towards achieving our mission.”
    For more information about the awards, visit www.theseras.com .

Tingo Group’s Commitment to Corporate Social Responsibility and Sustainability Recognized with SERAS Africa CSR / Sustainability Awards Nominations

Retrieved on: 
Tuesday, December 5, 2023
Corporate social responsibility, Tingo District, Sustainability, First Bank, News, Cadbury, Fintech, Zenith Bank, Samsung, Procter & Gamble, Biophysical environment, Workforce, Lafarge, Aliko Dangote, ESG, Poverty, ExxonMobil, Stakeholder engagement, TIO, Diageo, Access Bank, DHL, Shell, Fidelity Bank, CSR, Farmer, Use, Face, Interim, TotalEnergies, Organization, Agriculture

MONTVALE, N.J., Dec. 05, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable, multi-national fintech, agri-fintech, food processing and commodity trading company, today announced that its Corporate Social Responsibility (CSR) and Sustainability efforts have been recognized through its nomination as a finalist in five categories at the 17th annual SERAS Africa CSR & Sustainability Awards.

Key Points: 
  • MONTVALE, N.J., Dec. 05, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable, multi-national fintech, agri-fintech, food processing and commodity trading company, today announced that its Corporate Social Responsibility (CSR) and Sustainability efforts have been recognized through its nomination as a finalist in five categories at the 17th annual SERAS Africa CSR & Sustainability Awards.
  • The SERAS, standing for Sustainability, Enterprise, and Responsibility Awards, are regarded as the gold-standard and first and foremost accolade for corporate social responsibility and sustainability in Africa.
  • Tingo has been nominated for five award categories, including Best Company in Food Security, Poverty Reduction, Outstanding New Entry, Stakeholder Engagement, and Use of Storytelling/Communications.
  • We thank SERAS for the nominations and look forward to receiving news of the final awards.”
    For more information about the awards, visit www.theseras.com .

Tingo Group, Inc. Reports Third Quarter 2023 Financial Results

Retrieved on: 
Tuesday, November 14, 2023
Webcast, EBITDA, Food, Depreciation, Workforce, Revenue, Smartphone, Commodity, Phase 1, Consolidated, Central Bank of Nigeria, Marketing, Australian Financial Review, Farmer, Nigerian naira, Conference, Partnership, Food processing, Central bank, Growth, IOS, TIO, Visa, DMCC, Government, Rare-earth element, Cryptocurrency, Agriculture, Mobile phone, Drug, Film industry, Holding company, Tingo District

While there was some impact on net revenues for the second quarter, the impact was significantly greater in the third quarter due to the fact the devaluation covered the entire quarter.

Key Points: 
  • While there was some impact on net revenues for the second quarter, the impact was significantly greater in the third quarter due to the fact the devaluation covered the entire quarter.
  • The businesses of Tingo Mobile and Tingo Foods, and their respective revenues, were temporarily adversely affected during the second quarter of 2023 by the economic disruption following Nigeria’s government elections and subsequent change of presidential administrations.
  • The gross profit for the three months ended September 30, 2023, represented a decrease of $208.1 million compared to the three months ended June 30, 2023.
  • The increase is mainly attributable to the addition of the Tingo Mobile and Tingo Foods acquisitions completed on December 1, 2022, and February 9, 2023, respectively, and the commencement of export trades through Tingo DMCC in May 2023.

All Farmers Association of Nigeria (AFAN) Exclusively Adopts Tingo Mobile’s Nwassa Marketplace Platform for its Members

Retrieved on: 
Monday, November 13, 2023
Empowerment, Interim, Farmer, Seed, Insurance, Agriculture, Partnership, Growth, Pesticide, TIO, Purchasing, Mobile phone, Tingo District

AFAN is the umbrella body of the 56 recognized commodities and agricultural associations in Nigeria, with branches in all 36 states of Nigeria.

Key Points: 
  • AFAN is the umbrella body of the 56 recognized commodities and agricultural associations in Nigeria, with branches in all 36 states of Nigeria.
  • Tingo Mobile is working closely with AFAN to support it in achieving its goal, and to grow its own customer base in Nigeria to 60 million.
  • To support AFAN’s commitment to register 20 million of its members as new customers of Tingo Mobile and Nwassa, Tingo Mobile is delivering 6 million new smartphones in the coming weeks.
  • This is expected to generate significant amounts of produce for Tingo Foods and Tingo DMCC, while also providing considerable support to AFAN and its farmers.

Tingo Group Signs Agreement with Governmental Body in Pakistan for Implementation and Rollout of Tingo’s Businesses Throughout the Country

Retrieved on: 
Tuesday, October 24, 2023
Fintech, Government, Khyber Pakhtunkhwa Information Technology Board, Food, Fertilizer, Information technology, MOU, Government of Pakistan, Private sector, Ecosystem, Partnership, Farmer, Interim, Food security, Seed, TIO, Agriculture, Tingo District, Tea, Retail

KPITB is a governmental body established in the Province of the Khyber Pakhtunkhwa, Pakistan, for the promotion of information technology for the public and private sector.

Key Points: 
  • KPITB is a governmental body established in the Province of the Khyber Pakhtunkhwa, Pakistan, for the promotion of information technology for the public and private sector.
  • The non-binding MOU establishes the framework upon which Tingo and KPITB are expected to develop a binding definitive agreement in the coming weeks consistent with the terms described above.
  • Moreover, we are honored to have the KPITB and Government of Pakistan as a strategic partner in this remarkable opportunity.
  • Furthermore, our partnership with the KPITB and the Government of Pakistan is additional testament to our strong credentials and reputation in the agricultural and agri-fintech space.

Tingo Group Opens New Headquarters for Africa to Facilitate Acceleration of Expansion Plans and Growth

Retrieved on: 
Friday, October 20, 2023
Food, Workforce, Farmer, Growth, Interim, Consultant, TIO, Tingo District, Film industry

MONTVALE, N.J., Oct. 20, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable and fast growing fintech, agri-fintech, food and commodity trading company, today announced the opening of a prestigious new Africa headquarters in Lagos, Nigeria.

Key Points: 
  • MONTVALE, N.J., Oct. 20, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable and fast growing fintech, agri-fintech, food and commodity trading company, today announced the opening of a prestigious new Africa headquarters in Lagos, Nigeria.
  • The new headquarters, incorporating the latest communications and information-technology infrastructure, will enable the Company to accelerate its growth, including through the expansion of Tingo Mobile, Tingo Foods, TingoPay and several new businesses currently under development.
  • “As we scale-up our operations, facilitated by the further considerable expansion of our workforce, our Tingo eco-system continues to grow stronger.
  • The Company’s new Africa headquarters, together with the significantly enlarged workforce it facilitates, is set to be a very valuable component as we strive to fulfill our ambitions and deliver global growth.”

Tingo Group Announces Appointment of Interim Co-Chief Executives and Independent Director

Retrieved on: 
Monday, September 18, 2023
Hindenburg Research, Communication, Interim, Hindenburg, Investigation, History, Credit Suisse, MICT, Audit committee, Goldman Sachs, Private limited company, Retirement, Acquisition, Work, TIO, Happiness, Growth, Digital, Family, Retail, Management, Video game, Tingo District

Mr. Denos has served as a director of Tingo since its acquisition of Tingo Mobile in November 2022, and an executive of Tingo Mobile’s prior parent company, Agri Fintech Holdings, Inc. (formerly known as Tingo, Inc.) since August 2021.

Key Points: 
  • Mr. Denos has served as a director of Tingo since its acquisition of Tingo Mobile in November 2022, and an executive of Tingo Mobile’s prior parent company, Agri Fintech Holdings, Inc. (formerly known as Tingo, Inc.) since August 2021.
  • In addition, the Company is pleased to appoint Jamal (Jamie) Kurshid as an independent member of the Board of Directors.
  • Mr. Kurshid’s appointment follows the retirement of Robert Benton as independent member of the Board and Chair of the Audit Committee.
  • His vision and belief in acquiring Tingo Mobile and Tingo Foods has added immense value to the Company’s shareholders.

Tingo Group Launches Next Generation of TingoPay Super App

Retrieved on: 
Thursday, September 14, 2023
Super-app, Travel, Electricity, Android, Biometrics, Function, IOS, SEO, Visa, Internet, TIO, Education, Radio, Growth, Social media, Mobile phone, Online shopping, Tingo District

MONTVALE, N.J., Sept. 14, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable and fast growing fintech, agri-fintech and food company, today announced the launch of the next-generation version of its super app, TingoPay.

Key Points: 
  • Following the completion of a successful beta test on Android, the TingoPay super app is now available as a full version on both iOS/Apple and Android, incorporating state-of-the-art security features such as two-factor authentication and biometric identification.
  • Tingo Mobile, the wholly owned subsidiary of Tingo and owner-operator of TingoPay, is currently developing a number of new features to add to the Super App as part of a rolling program of enhancements.
  • Darren Mercer, Chief Executive Officer of Tingo Group, Inc. commented: “Having recently completed the beta-test program, I am delighted to be launching the full version of our TingoPay super app and to expand its market reach through the addition of an iOS version alongside the next-generation Android version.
  • “Through TingoPay, it is our goal to become a household name in Nigeria and many of Africa’s other countries as we diversify into the vast and fast-growing digital payments and super app markets.

Lifshitz Law PLLC Announces Investigations of Funko, Inc. (NASDAQ: FNKO), Atlas Lithium Corp (NASDAQ: ATLX), SentinelOne, Inc. (NYSE: S), and Tingo Group, Inc. (NASDAQ: TIO)

Retrieved on: 
Sunday, September 10, 2023
Lithium, Telephone, FNKO, Xi, Atlas, ERP, Sale, Tingo District, Advertising, TIO, Vii, Hewlett, Online shopping

If you are a FNKO investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq.

Key Points: 
  • If you are a FNKO investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq.
  • If you are an ATLX investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq.
  • The law firm responsible for this advertisement is Lifshitz Law PLLC, 1190 Broadway, Hewlett, New York 11557, Tel: (516)493-9780.
  • Prior results do not guarantee or predict a similar outcome with respect to any future matter.