MICT, Inc.
NASDAQ Capital MarketCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Darren Mercer
- Full Time Employees
- 44
- Sector
- Technology
- Industry
- Computer Hardware
- Address
- 28 West Grand Avenue Montvale NJ United States of America 07645
- IPO Date
- Jun 24, 2004
- CIK
- 0000854800
- Website
- mict-inc.com
- Similar Companies
- Business
- MICT, Inc. operates primarily as a fintech and agri-fintech company with diversified offerings that include financial services platforms, insurance product technologies, mobile resource management, telematics solutions, and food processing operations. Its core products and services encompass financial technology applications such as the Magpie Invest platform, insurance product platforms, and securities advisory and asset management services licensed for Hong Kong markets. Through its wholly owned subsidiary Tingo Foods PLC, MICT engages in large-scale food processing with a production capacity exceeding $1 billion annually, and it is developing a $1.6 billion food processing facility in Nigeria, scheduled for completion by mid-2024. Additionally, MICT maintains telematics products and commercial mobile resource management solutions mainly serving the US and European markets, along with proprietary smart fleet management technology including driver behavior analytics and advanced video telematics. Recent major company changes include MICT's completion of the acquisition of 100% of the operating business and assets of Tingo Mobile, which significantly expanded its agritech and fintech footprint, especially across African markets. Following this acquisition, MICT underwent a rebranding, changing its corporate name to Tingo Group, Inc. effective early 2023. MICT has also launched strategic partnerships, notably with the All Farmers Association of Nigeria and Visa to support a SuperApp fintech service called TingoPay, offering a broad array of B2C and B2B financial services. The company announced plans for a considerable share repurchase program, potential special dividends, and initiatives aimed at shareholder value enhancement, including a dual listing to address perceived stock price undervaluation and market manipulation. MICT's balance sheet has strengthened with a cash position surpassing $300 million, and it is advancing rapid expansion in digital commodities trading and export businesses from the Dubai Multi Commodity Centre. Founded in 1989 and headquartered in Montvale, New Jersey, MICT operates globally with significant business segments spanning fintech, agri-fintech, telematics, and food processing. Its services target retail and institutional financial customers, agricultural stakeholders, and commercial fleet operators across the US, Europe, and Africa. The company's strategic focus on integrating fintech solutions with agricultural empowerment positions it as a multi-vertical enterprise aiming to drive financial inclusion and sustainable food security through digital and industrial infrastructure investments. MICT holds standard market licenses and memberships, including approvals from Hong Kong’s Securities and Futures Commission and membership in major stock exchanges, facilitating its financial services operations internationally. This comprehensive product and service portfolio, paired with recent strategic acquisitions and partnerships, underpins MICT’s transformation into a diversified global fintech and agri-business group with a robust growth trajectory in emerging and developed markets.
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