Tingo Inc. Nominated in Environmental, Social & Governance Category at Upcoming Crypto AM Awards
- 28.09.2021 09:20 am
Tingo Inc. (OTCQB: IWBB) is a unique agri-fintech company offering, through Tingo Mobile in Nigeria, personal communications services (“PCS”) using GSM technology for subscribers within and outside of the agricultural sector. Tingo Mobile has developed a comprehensive agri-fintech and agri-marketplace ecosystem to support the agricultural sector, becoming Africa’s leading provider of such services over the long term. Services include smartphone leasing, agri-marketplace, airtime top-ups, utilities payments, bill pay, and access to insurance and lending services. This is collectively known as NWASSA, a service to support financial inclusion and deliver significant social impact in the agriculture sector. It supports rural communities in line with UN SDGs and ESG principles.
Tingo currently has over 9 million customers who rely of Tingo and NWASSA services for the successful running of their farms. Tingo’s work with farming cooperatives across Nigeria has led to higher yield, significantly reduced post-harvest losses and increased profitability throughout the country.
Tingo’s commitment to being a force for positive change has been recognized in its nomination for the Environmental, Social & Governance Award at the upcoming Crypto AM Awards.
“Tingo is thrilled to be recognized for our continued efforts to bring about social upliftment, financial inclusion, food security and female empowerment in our core market in Nigeria and across the African continent,” Chris Cleverly, President of Tingo, stated following the nomination. “One of our key goals has always been to empower SME female entrepreneurs engaged in the agri-ecosystem to deliver true gender equality and diversity.”
The Crypto AM Awards, scheduled to take place Thursday, September 30, at the prestigious Leonardo Royal Hotel London, will mark the climax of the two-day Crypto AM Summit. In total, there are 14 awards up for grabs, all judged by an independent panel of industry experts.
Tingo aims to deliver, in a tangible and measurable way, alignment and compliance with the key UN Sustainable Development Goals, including gender equality through upliftment of female entrepreneurship, financial inclusion, poverty alleviation and food security. This goal is highlighted by the company’s growing agent network, which currently consists of roughly 15,000 members — the overwhelming majority of whom are women.
Tingo intends to become a truly Pan-African company with global reach. It aims to modernize the continent by providing a complete digital ecosystem to facilitate financial interaction and deliver disruptive micro-finance solutions. Through its Tingo Mobile subsidiary, the company has distributed almost 30 million mobile handsets since 2014, offering an affordable price point while allowing customers to spread payments over 36 months.
Africa is the second-largest continent by population. It is also the youngest by far, with a median age of 18 for its 1.3 billion people. Agriculture makes up 23 percent of sub-Saharan Africa’s GDP and 60 percent of employment. Tingo believes the building blocks for growth in Africa’s agriculture industry are in place and that the company is well positioned to participate in the upside.