Tingo, a Nigerian financial technology company, is looking for $500 million in funding to expand into other African countries.
Dozy Mmobousi, the company’s Chief Executive Officer, revealed this during an interview.
The $6.3 billion agriculture-focused firm will raise the fund through a private placement and plans to list on the New York Stock Exchange in the first half of the year.
In addition, the company intends to invest $100 million in a fund that will increase credit to primarily female farmers. It also plans to buy at least 19 African countries in the next three years in order to expand into at least 19 African countries.
Dozy Mmuobosi stated, “We plan to acquire companies and expand infrastructure that will help us become a pan-African business, delivering the same services we’re delivering in Nigeria in many other countries.”
The company also intends to become a global player, as evidenced by its bid to be listed on the New York Stock Exchange. On this, the CEO stated, “We are working closely with the exchange and we believe the outcome will be positive