Montvale-based Tingo Group, a fast-growing fintech, agri-fintech, food and commodity trading company, on Friday announced it opened a new Africa headquarters in Lagos, Nigeria.
The new base, which is located in the main business and financial center of Victoria Island, Lagos, becomes the company’s second office in the city, complementing its former headquarters on Lagos Island, which has now become Tingo’s commodity trading and operational support office.
The three-story, 60,000-square-foot building has capacity to accommodate a workforce of up to 500, which is in addition to the 100 employees and consultants that can be accommodated at the 12,000-square-foot office space on Lagos Island. The new headquarters incorporates the latest communications and information-technology infrastructure and will enable the company to accelerate its growth, including through the expansion of Tingo Mobile, Tingo Foods, TingoPay and several new businesses currently under development.
“I am extremely proud to increase our investment into my home country of Nigeria, and significantly enhance our infrastructure and human resource capacity,” Dozy Mmobuosi, interim co-CEO of Tingo Group, said. “This major upgrade and expansion of our facilities is expected to enable us to accelerate the growth of our business, not only in Nigeria, but also throughout the continent of Africa and ultimately, globally.
“As we scale up our operations, facilitated by the further considerable expansion of our workforce, our Tingo ecosystem continues to grow stronger. This is particularly gratifying, as it allows us to increase our impact on Nigeria’s and Africa’s agricultural sector, and in turn make a meaningful difference towards tackling the world’s ongoing food security crisis, while at the same time further enhancing shareholder value.”