Dozy Mmobuosi, the Founder and CEO of Tingo Inc. and Tingo International Holdings, launched an Africa focused foundation to address pressing challenges on the continent.
The Dozy Mmobuosi Foundation will begin in Nigeria with two core missions, addressing the healthcare challenges across Nigeria and working to provide financial support for a high-quality education to many who have previously struggled with access.
The foundation is exploring an innovative student loan initiative to provide funding to students across the country. The loan program, according to Mmobuosi, is to provide financial assistance to Africans that cannot afford to attend a tertiary institution on a loan that would be paid back after graduating from school.
“The aim is to provide fair and affordable student loans to Nigerian students in tertiary institutions across Nigeria,” Mmobuosi said.
Repayment of the student loans is over a five-year period, which begins five years after taking the loan, at a three per cent interest rate and the interest rate doesn’t come to place until the fifth year after taking the loan. This will be the most affordable and efficient way of externally funding higher education in Nigeria.
Beyond giving loans for education, Mmobuosi pointed out that the foundation will be partnering with the government at all levels including non-governmental organisations and educational institutions towards engaging Nigerians, Africans, and the leaders in better critical thinking practices.
Mmobuosi believes that providing courses around critical thinking and entrepreneurship will be the framework for a highly-skilled, high performing, next-generation workforce and leadership which will pave the way for Africa to meet its true potential.
As part of these missions, the foundation will work to support gender equality initiatives and provide support to women across the country.
The foundation is also exploring how it can work to support vaccine production and distribution in Nigeria and provide grants to widows and smallholder farmers throughout the country.
At the launch of the foundation on January 1st 2022, the foundation celebrated thousands of children in low-income communities by taking Christmas festivities to their doorstep and giving them gifts. Mmobuosi confirmed that in time, the foundation intends to give education scholarships to deprived kids across Nigeria.
Mmobuosi is a proud Nigerian and truly believes in Africa and his native Nigeria. Through the Dozy Mmobuosi Foundation and his company, Tingo, he continues to strive to build a better and more prosperous Africa for future generations.