February 07, (THEWILL) – Nigerian businessman, Dozy Mmobousi, has been in the media spotlight after reports of his £90 million financial takeover of Sheffield United Football Club were published.
However, there have been concerns about the legitimacy of the takeover, with some reports alleging that Mmobousi is a conman and that the club will be at risk if the takeover goes through. Despite these allegations, there is ample evidence that Mmobousi’s Tingo business is legitimate.
The Globe News Wire reported the consolidation of 100% of Tingo Mobile’s balance sheet into MICT, with cash on September 30, 2022, amounting to $247 million and total assets at $1.51 billion. The report also stated that Tingo Mobile’s revenues and income have been consolidated into MICT, with an annualised revenue run rate approaching $1.2 billion and net income before tax run rate approaching $650 million.
In addition to Tingo Airlines, Mmobousi also runs Tingo Foods, which has big aspirations for the future. Tingo Foods is set to revolutionise the African food industry with the construction of a state-of-the-art food processing facility.
The facility, with a project cost of $1.6 billion, aims to enhance inter-African trade and export. These two business interests constitute the bulk of his enterprise and the details are not shrouded in secrecy to be considered proceeds from fraud.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
