Tingo International Holdings, majority shareholder of Tingo Inc which recently acquired Tingo Mobile PLC in Nigeria, is thrilled to partner with MELD to deliver value-added financial services to nearly 10 million Tingo Mobile user devices by 2022
Tingo International Holdings (“Tingo”), majority shareholder of Tingo Inc., a unique agri-fintech company, announces a new partnership with MELD, an open-source, non-custodial liquidity protocol that securely lends and borrows both crypto and fiat currencies. This important partnership between Tingo International Holdings and Meld is designed to deliver a highly efficient DeFi lending and borrowing protocol to customers in Africa.
MELD’s focus is on operating a non-custodial and capital-efficient protocol that offers highly sophisticated financial services for any size of transaction. Tingo and MELD are looking to explore DeFi solutions such as decentralized low interest loans and opportunities to complement Nigeria’s digital currency, the eNaira. The partnership’s primary goal is to invite the $2 trillion-dollar crypto economy to invest in African farmers, and thereby support efforts to increase global food security to meet UN Sustainable Development Goals (SDGs) and provide greater opportunity for all.
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Tingo and MELD believe it is essential for everyone, not just centralized institutions, governments or the 1%, to gain control of their financial lives and have equal access to financial instruments used by professionals. Tingo and Meld seek to provide financial freedom and bring individualized control to the masses, including the unbanked.
Global climate change is challenging the world’s productivity for sustainable production and, subsequently, food security. Social upliftment is a key area of global interest under the United Nations’ SDGs and Environmental, Social and Corporate Governance (ESG) impact investing. Tingo’s strategy and market execution provides an opportunity for Africa to be a core focal point to solve several key areas including food security. Tingo aims to deliver, in a tangible and measurable way, alignment and compliance with the UN’s key SDGs – gender equality through upliftment of female entrepreneurship, financial inclusion, poverty alleviation and zero hunger.
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Tingo is a leading Africa-focused, agri-fintech company with nearly 10 million subscribers. Tingo believes that a high-efficiency, DeFi protocol like MELD can provide a great deal of value to Tingo customers, even with many transactions below USD$100. These services can offer existing customers more economic and financial flexibility and attract new users to the Tingo ecosystem.
Chris Cleverly, President of Tingo, said, “It is vitally important, as Africa’s largest agri-fintech company directed at providing services for the agricultural community and working to ensure food security across the continent, that we work with technologies such as MELD and CARDANO that are looking to shift the present paradigm in favor of banking for all and inclusive finance. DeFi, stable tokens and NFTs will emancipate Africa as an economic powerhouse – we will work with regulators to ensure this is done safely and securely. Change is inevitable and Nigeria is leading this change.”
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