How Tingo Inc. (TMNA)’s Digital Technology Seeks to Change Farming in Africa
Feb 8, 2022
- Tingo has made it its corporate mission to transform the way rural business in Africa is conducted, thereby helping millions of people across Africa improve their economic prospects
- The company has based their business model around several key tenets, namely – the provision of technology through its unique ‘device-as-a-service’ model, access to financial services through TingoPay and access to market through Nwassa digital Agri-Marketplace
- Alongside its corporate aspirations, Tingo has also adopted a number of the United Nations Sustainable Development Goals (“SDG’s”), through which it seeks to invest in the future of its millions of stakeholders
For the past 50 years, Daisy Namusoke has grown crops on her small plot of land in the Buikwe District of Central Uganda, mostly to feed her husband, five children, and two grandchildren (https://ccw.fm/Bb9nC). Like most smallholder farmers in Africa, she cultivates a mix of crops, relies on saved seeds and those purchased from local sources, and uses little by way of external inputs, such as synthetic fertilizers. When selling her crops, she is forced to sell to middlemen – a practice which subjects’ farmers to thin margins and habitually short-changes them on the fruit of their labor. Tingo (OTC: TMNA), a digital service agri-fintech technology company focused on foundation-level agriculture and related financial services in Africa, has made it its mission to change the way rural business in Africa is conducted, in the process helping millions of people across the continent improve their quality of life, income and prospects.
The agricultural sector is the largest economic sub-set within Nigeria’s economy, representing 24 percent of the country’s Gross Domestic Product (“GDP”) as of 2020 and playing a pivotal role in the growth of…
NOTE TO INVESTORS: The latest news and updates relating to TMNA are available in the company’s newsroom at https://ccw.fm/TMNA
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