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Tingo International Holdings, the majority shareholder of Tingo Inc (OTC: IWBB), has announced a partnership with MELD to enhance financial services for nearly 10 million Tingo Mobile users by 2022. This collaboration aims to implement decentralized finance (DeFi) solutions such as low-interest loans and integration with Nigeria’s digital currency, eNaira. The partnership seeks to draw the $2 trillion crypto economy to support African farmers and align with the UN Sustainable Development Goals.
Tingo Inc. (OTCQB: IWBB) is an innovative agri-fintech company in Nigeria, providing a comprehensive ecosystem for agricultural support via Tingo Mobile. With over 9 million customers, Tingo offers smartphone leasing, an agri-marketplace, and access to financial services, promoting financial inclusion and significant social impact in rural areas. Tingo's efforts have enhanced agricultural productivity and profitability. The company aims to empower female entrepreneurs, currently comprising the majority of its 15,000 agent network, and is recognized for its commitment to UN SDGs.
Tingo Inc (OTC Markets: IWBB) has appointed John J. Brown and Christophe Francois Charlier as Co-Chairmen to enhance its board following the $3.7 billion acquisition of Tingo Mobile Plc, which serves almost 10 million subscribers.
Brown brings extensive experience from UBS and Merrill Lynch, while Charlier has a strong background in financial services, including leadership roles in Renaissance Capital and Onexim Group.
This strategic move aims to support Tingo's application for a national securities exchange listing and bolster its leadership in Africa's agri-fintech sector.
Tingo Inc (IWBB) announced the appointment of John J. Brown and Christophe Francois Charlier as Co-Chair of its Board of Directors to leverage their extensive global market experience. Brown, aged 63, brings a wealth of experience from UBS and Merrill Lynch, while Charlier, aged 49, has a strong background in international finance. Tingo's CEO expressed confidence that these appointments will enhance shareholder value. The company also boasts nearly 10 million subscribers and processes over 500,000 daily transactions valued at over $8 million USD, aiming to become Africa's leading Agri-Fintech platform.
Iweb Inc. has finalized its acquisition of Tingo Mobile PLC in a transaction valued at $3.7 billion, involving 928 million Class A Common shares. Iweb is set to change its name to Tingo Inc. under the leadership of new CEO Dozy Mmobuosi, who co-founded Tingo Mobile and significantly expanded its operations. Tingo Mobile, a leader in Nigeria's AgriTech and FinTech space, reported $616 million in revenues for 2020. The platform supports farmers through mobile phone leasing and digital financial services, boasting over 9 million subscribers and a commitment to enhancing digital inclusion and agricultural productivity.
IWEB announced plans to acquire Tingo Mobile from Tingo International Holdings in a deal valued at $3.7 billion. The acquisition will be executed with an issuance of 928 million new shares at $4.00 per share. Tingo Mobile, which has generated $616 million in revenue and $220 million in EBITDA for 2020, focuses on enhancing digital commerce in Nigeria's AgriTech and FinTech sectors. This transaction is expected to bolster IWEB's presence in Africa's rapidly growing tech market.
IWEB announced a letter of intent to acquire Coinfield, a regulated global crypto exchange, which ranks #25 among 440 exchanges for transparency. Based in Canada and Estonia, Coinfield has over 206,000 registered users and significant daily trading volumes averaging $90-100 million. IWEB aims to enter the growing crypto market, which is expected to see an 8x market capitalization growth. This acquisition can enhance IWEB's service offerings and market reach in the fintech sector.