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Tingo Group, Inc. (NASDAQ: TIO) announced a significant strategic partnership involving its subsidiary Tingo Mobile, Prime Commodity Exchange (PCX), and All Farmers Association of Nigeria (AFAN). This 30-year agreement allows Tingo Mobile exclusive access to AFAN’s network of 2,322 warehouses, with plans to expand to 80,000 by 2025. The partnership enables Tingo Mobile to commoditize crops using PCX’s e-Warehouse Receipt System, enhancing its food processing and commodity trading operations. Tingo Mobile will be the first to purchase or trade produce stored in the warehouses, bolstering its Tingo Foods and Tingo DMCC businesses. With AFAN coordinating its agricultural cooperatives, Tingo anticipates substantial volumes of produce, aiding in food security and Nigeria’s export growth.
Tingo Group (NASDAQ: TIO) will present at the 19th Annual Taglich Brothers Investment Conference on May 1-2, 2023, in New York City. The CEO, Darren Mercer, will deliver a presentation on May 1 at 11:00 am ET, followed by a Q&A session. This presentation will be available for live viewing and replay on Tingo's investor relations website.
In addition to the conference, Tingo will hold institutional investor meetings in New York City from May 1 to May 3. Investors interested in scheduling meetings can contact Tingo Group for details. Tingo Group is a global Fintech and Agri-Fintech company focused on expanding its operations in Africa and other regions, aiming to increase its subscribed farmers dramatically from 9.3 million in 2022 to over 32 million.