Tingo Foods, a wholly owned subsidiary of Tingo International Holdings Inc, is set to revolutionise the African food industry with the planned foundation laying ceremony of its state-of-the-art food processing facility. The facility, with a project cost of 1.6 billion USD, aims to save Africa from paying foreign exchange to import finished food products, export made-in-Africa foods to the world, enhance inter-Africa trade via the Africa Continental Free Trade Agreement, and sell high-quality and nutritious food products in Nigeria. The project is expected to begin operations in the next 18 to 24 months.
The facility will be located in Ishiekpe village, Onicha Ugbo Aniocha North local government area of Delta State, Nigeria and will initially produce a range of products including rice, tea, coffee, chocolate, biscuits, edible oil, cashew milk, millet-based cereal, beer, mineral water, fizzy drinks, pasta, and noodles. The facility will also serve as a hub for the development and distribution of new products in the future.
Founder of Tingo International Holdings, Dozy Mmobuosi, stated that the facility is the first phase of a multi-billion-dollar investment that Tingo International Holdings plans to make in the African food industry. The bulk of the cost is primarily machinery, which will be imported from some of the world's leading manufacturers. Mmobuosi said, "As the founder of Tingo International Holdings, I am thrilled to be a part of this project, which I believe will play a significant role in helping Africa feed itself. This facility represents a major step towards building a sustainable future for Africa and creating a food-secure world."