- Tingo is an Africa-focused agri-fintech company, which seeks to empower rural farming communities through the introduction of innovative farming solutions
- In addition to driving shareholder returns, the company has also sought to empower societies and produce social upliftment in rural communities in which it is active
- The company has adopted 5 core sustainable development goals – food security, poverty alleviation, financial inclusion, employment opportunities, & gender equality
By the end of the first quarter of 2021, assets under management held within ESG (Environment, Social, Governance) focused funds around the world had ballooned to $1.984 trillion, driven by a global drive towards increased sustainability and rising social awareness. Soaring investor demand for assets aligning with their social and ethical concerns have turbo-charged inflows towards sustainable investments; in fact, a study found that 89 cents of every dollar invested within active funds in July 2021 was directed towards ESG-focused funds. Tingo (OTCQB: IWBB), a digital service agri-fintech technology company focused on foundation-level agriculture and related financial services in Africa, has made it its mission to both, support the domestic economies of its host countries and support technological and financial inclusion to reduce poverty levels. Thus, and through its unique business model, Tingo hopes to deliver attractive returns to shareholders while simultaneously, investing in the long-term future of the company and its subsidiaries.
Tingo Inc aims to be Africa’s leading agri-fintech player, with a multi-pronged strategy which seeks to provide a roadmap through which to address several key areas of social concern within the African continent. As such, the company has sought to adopt five core sustainable development goals as its corporate mission, namely – ensuring food security, driving poverty alleviation, promoting digital financial inclusion, encouraging job creation, and supporting female entrepreneurship and empowerment.
A recent study found that nearly 72 percent of Nigerian smallholder farms survived on less than $1.90 per day, with most living well below the poverty line. Moreover, a significant percentage of the farmers were subject to the vagaries of climate change, an increasingly frequent challenge to the success of their individual harvests. Tingo has sought to both, alleviate poverty levels and address food security through the introduction of new and impactful agri-based farming solutions in a bid to create jobs and uplift incomes for millions of rural farmers in select markets.
Alongside their goal to boost employment opportunities within rural areas, Tingo has looked to alleviate poverty and promote digital financial inclusion amongst its millions of stake holders through the disruption of legacy micro-finance industries within the African region. The company has sought to provide its users with a range of innovative financial products, alongside an agri-trading platform and credit solutions, designed to helps farmers market their harvests in a more efficient manner and borrow funds at market rates. Farmers will now be able to access DeFi-stable coins and smart contracts, thereby providing agri-communities access to credit-market driven digital finance solutions to held make them more competitive.
Through the company’s proprietary and proven digital technology platforms, Tingo will seek to provide low-cost and dignified mobile transaction services using a dedicated mobile application, thereby lifting a key business barrier to what has historically been a largely underbanked populace.
A key tenet underpinning Tingo’s business model has been the company’s steadfast commitment to gender equality. Tingo has looked to encourage female entrepreneurship within Africa’s rural communities through the introduction of training schemes designed to encourage women to operate both, farming and collection businesses. The success of the scheme is best illustrated through Tingo’s burgeoning agent network, which currently consists of approximately 15,000 members – the overwhelming majority of whom are women (https://ibn.fm/qj4GM).
In a global economy which is increasingly seeing growing socio-economic differences and competitive pressures, Tingo Inc has sought to create a unique business model which seeks to build out the company as one of Africa’s leading agri-fintech providers while simultaneously, contributing to bettering the lives of millions with Africa’s rural communities.
For more information, visit the company’s website at www.TingoGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to IWBB are available in the company’s newsroom at https://ibn.fm/IWBB
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