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Africa's Aviation Sector Needs More Investment - Mmobuosi

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Africa’s Aviation Sector Needs More Investment – Mmobuosi Business

Mmobuosi has long held ambitions to make investments in the aviation sector driven by his belief that the sector in Africa requires investment.

In 2019, he established Tingo Airlines Ltd with the goal of acquiring a license and operating flights between Europe and Africa. However, due to the outbreak of COVID-19 in early 2020, Mr. Mmobuosi redirected resources towards Tingo Mobile to develop Nwassa and Tingo Pay. Tingo Airlines Ltd is in the process of being dissolved.

Following the disruption to the global aviation sector, Mr. Mmobuosi and Omni-Blu Aviation Limited, a fast-growing airline incorporated in Nigeria to provide regular, customised, and specialised air transportation services, entered into a Joint Venture and Mutual Cooperation Agreement in 2020. They incorporated in Nigeria, a Joint Venture Company called Omni-Tingo Aviation Services Limited as the commercial vehicle through which their mutual aspirations would be administered.

 

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Past investments always improperly accounted for and of course audit is strange in Africa.

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