In a strategic move aimed at reaffirming its commitment to the Nigerian market and bolstering its operations, Tingo Group, a prominent player in the Nigerian fintech sector, has announced the establishment of a new office in Lagos, Nigeria. This expansion comes against the backdrop of recent fraud allegations and demonstrates Tingo Group’s determination to maintain a strong foothold in the country.
The new office, strategically located in Victoria Island, Lagos, adds to the existing headquarters on Lagos Island. While the latter focuses on commodity trading and operational support, the new facility is poised to become the epicenter of the company’s broader operations. Spanning three stories and encompassing 60,000 square feet, it is equipped to accommodate a sizable workforce, further propelling Tingo Group’s growth initiatives.
Dozy Mmobuosi, Interim Co-Chief Executive Officer of Tingo Group, expressed his pride in enhancing the company’s investment in Nigeria, stating that the upgraded facilities are expected to accelerate the company’s growth not only in Nigeria but also across the African continent and globally. Moreover, this expansion will fortify Tingo Group’s position and impact on Nigeria’s agricultural sector, addressing the ongoing food security challenges while enhancing shareholder value.
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Ken Denos, Interim Co-Chief Executive Officer, shared his excitement about the extended facilities and the opportunities they bring. He emphasized the company’s partnerships with organizations such as the All Farmers Association of Nigeria (AFAN) and its expansion into markets like Ghana, reinforcing its commitment to global growth.
This strategic expansion underlines Tingo Group’s unwavering dedication to the Nigerian market and its resolve to tackle the recent allegations head-on. By increasing its ground presence and investing in state-of-the-art infrastructure, the company signals its commitment to transparency, growth, and its long-term mission in the fintech sector. The recent allegations have spurred Tingo Group to take proactive steps to secure its position and maintain the trust of its stakeholders.
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Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard