Dozy Mmobuosi: Fintech Guru With a Heart of Gold
Dozy Mmobuosi is a distinguished technology entrepreneur who advocates for technological advancement and social upliftment in Africa and beyond.
He is the Founder/CEO of two prominent US corporations, Tingo, Inc., Africa’s leading Agri-Fintech company, and Tingo International Holdings, Inc. (TIH) an investment firm focused on identifying and making targeted acquisitions in the technology sector. Tingo, Inc. is a leading technology and device-as-a-service platform aimed at accelerating digital commerce in Africa.
Over the years, Tingo has recorded impressive feats in the sectors it plays in. The company successfully distributed 12 million smartphones to players in the Nigerian agriculture value chain.
Mr. Mmobuosi is the Founder of Tingo Mobile, Africa’s leading Agri-Fintech company with its device-as-a-service platform aimed at accelerating digital commerce in Africa. Tingo Mobile is listed on the Nasdaq Stock Exchange in New York.
Dozy owns Tingo Media, Omni-Tingo (joint venture with Omni-Blu), Equity Clinics & Diagnostic Centre, Equity Vaccines Ltd and Tingo Properties .
He is also the Founder/CEO of two prominent US corporations, Tingo, Inc., & Tingo International Holdings, Inc. (TIH) an investment firm focused on identifying and making targeted acquisitions across the technology sector.
Mr. Mmobuosi has been an adviser to several large corporate organizations, steering the strategy and design of business plans (investments, acquisition, and organic growth) into new global markets.
Mr. Momobuosi’s business and philanthropic endeavors are influenced by several global challenges including Climate Change and Food Security. Mr. Mmobuosi is passionate about the social upliftment targets of the United Nations Sustainable Development Goals.
At the heart of Tingo is the ethos to provide an opportunity for Africa to be a core focal point to tackle some of these pressing topics.
Passion for Sport
Mr. Mmobuosi has a deep passion for football and firmly believes true talent is nurtured through strong grassroots programs. Dozy has long been involved with grassroots football having funded scouting schemes, training programs, and talent management for Porsche United and Nassarawa United, two formidable grassroots clubs in Nigeria. He has long-held aspirations to work with a top-tier UK club and believes that the combination of grassroots initiatives and top-tier football will pay dividends for clubs, fans, and management teams for years to come.
Philanthropy
Mr. Mmobuosi’s business and philanthropic endeavors are influenced by several global challenges including Climate Change and Food Security.
Dozy is also passionate about the social upliftment targets of the United Nations Sustainable Development Goals. At the heart of Tingo is the ethos to provide an opportunity for Africa to be a core focal point to tackle some of these pressing topics.
In December 2021, Mr. Mmobuosi launched the Dozy Mmobuosi Foundation, aiming to support Africans across multiple sectors including education, healthcare, and technological skills upliftment, and to also facilitate social empowerment by solving key structural challenges present on the continent.
Educational Qualifications
Mr. Mmobuosi is an alumni of Saīd Business School, University of Oxford.
Milestones
2001- Tingo Mobile was founded as a custom software and value-added service provider to mobile phone networks in Nigeria.
12-year building to 2013, Tingo Mobile serviced several Telcos by producing ringtones and caller tunes for the growing mobile user base in Nigeria.
In 2002, he designed Nigeria’s first text-based money transfer platform.
2013-14 – increasingly underserved and ostracised agriculture sector problems exasperating due to lack of technology/financial inclusion. Opportunity recognized to support the sector through the development of an inclusive ecosystem providing rural communicates/farmers with access to mobile, financial, and extension services.
Tingo began a one-year data capture process which saw us cover all 36 states and the Federal Capital Territory (FTC) of Abuja to identify all individuals working across the entire agricultural value chain. Identified 14.4 million individuals working in the sector, using bank verification numbers (BVN) identified 9.344 million individuals who were eligible for subsidies.
2014-17 – Tingo Mobile further support the Nigerian Government in its efforts to bolster the agricultural sector by developing and manufacturing mobile devices and the deployment of software.
Work with The Agricultural Research Council of Nigeria and disseminate information on our platforms, sharing research on agricultural developments.
Acquisition of two factories, in Lagos and Abuja, Nigeria with a production capacity of 100,000 mobile devices per hour. Preloaded devices with Tingo Messenger and E-Wallet.
2021 – Renew 9.3 million customers on mobile leasing program for three years iWeb Inc, OTC Markets QB, IWBB, announced the Completion of the acquisition for $3.7Billion in an all-stock deal for the purchase of Tingo Mobile Plc, An Africa Focused Fintech with Nine Million Subscribers.
2021 revenues and operating income for Tingo Mobile of $865.9 million and $327.1 million, respectively, compared to 2020 revenues and operating income of $585.3 million and $201 million, respectively. The Company also reported, on a proforma basis, strong growth of 48% in year-on-year revenues and 63% growth in year-on-year operating income.
Financial results 3 2022 – Growth in Nwassa Agri-Fintech Business Drives 64.8% Increase in Revenues and 53.9%.
Dozy Mmobuosi Foundation Launch Sept 2022 -two core missions.
1) access to healthcare across Nigeria,
2) access to higher quality education.
Nov 2022 – Tingo Mobile, Launches Operations in Ghana and Signs Landmark Trade Deal with the Kingdom of Ashanti Covering Major Agricultural and Cocoa Farming Region.
Nov 2022 – Launch key partnership with All Farmers Association of Nigeria & VISA.
Dec 2022 – MICT Completes Acquisition of Operating Business and Assets of Tingo, Inc.
Dec 2022- – Launch Global Commodities Platform and Export Business from the DMCC, the world’s no.1 free zone.
Dec 2022 – Establishes Strategic Presence in Malawi and East Africa, Representing an Important Market for its Agri-FinTech and FinTech Products
Feb 2023 – official commitment to $1.6 billion Special Agriculture Processing Zone.
Feb 2023- Partnership Agreement with Evtec Energy Plc to Build Zero Emission Solar Energy Plant to Power Food Processing Facility.
Feb 2023 – MICT Announces Rebranding and Name Change to Tingo Group, Inc.
With intimidating profile, Mmobuosi is set to conquer the world but his roots in Nigeria, as well as Africa, always bring him home to chart workable and sustainable solutions to the continent’s wide range of challenges, either in tech, agriculture, or even leadership
