Tingo Mobile Limited has on Dec. 14, 2022 launched in Malawi, as it establishes a strategic presence in East Africa and accelerates its pan-African rollout. Having already achieved a substantial user base in West Africa, which is expected to expand considerably in the coming months, The company's move into Malawi is an important development for a number of reasons.

While Malawi is itself a sizeable target market for the company's Agri-Fintech and FinTech platforms and products, its strategic location is also expected to facilitate accelerated expansion into other key East Africa territories, such as the neighbouring countries of Tanzania, Zambia, and Mozambique. With farming and agriculture representing Malawi's biggest contributor to Gross Domestic Product, maize, cassava, bananas, sugar cane and ground nuts the most widely grown crops, this new market is expected to make a material contribution to the Group's revenues and profitability from 2023 and beyond. Through the adoption of its proven model in West Africa, the company is at an advanced stage of negotiating trade deals with a number of Malawi's largest co-operatives and agricultural associations, representing several million farmers.

The company's expansion into Malawi and East Africa is expected to facilitate access to significant volumes of the region's key crops, including coffee, tea, cotton, sugar cane, maize, and rice.