MICT, Inc. and Tingo, Inc. announced that Tingo Mobile PLC (“Tingo Mobile”), which is being wholly acquired by MICT with a scheduled completion date of November 30, 2022, has launched its partnership with the All Farmers Association of Nigeria (“AFAN”) ahead of schedule. Through its recently announced trade deal with Tingo Mobile, AFAN has committed to deliver a minimum of 20 million additional subscribers, which would more than triple Tingo Mobile's existing customer base of 9.3 million. AFAN has commenced to enroll its members to Tingo's platforms and products, including its Nwassa Agri-Fintech platform.

Tingo Mobile launched its pan-African partnership with leading global payments technology company, Visa, with the rollout a range of new products and services including Tingo Visa digital payment cards, a Tingo Mobile secure payment service and a Tingo Mobile Point of Sale merchant service. The suite of Tingo Visa products is expected to contribute significantly towards fulfilling MICT's and Tingo Mobile's goals of fostering financial inclusion and driving the social and economic upliftment of their customers. To mark its milestone achievements, and by way of support of AFAN and Nigeria's Federal Ministry of Agriculture and Rural Development, Tingo Mobile has sponsored today's National Farmers' Day event.

Through its work with these organizations, Tingo Mobile has reinforced its commitment to Nigeria's more than 60 million farmers and further underlined its support towards AFAN and the Nigerian Government, as the parties work collectively towards their mutual objectives of increasing food supply and improving food security.