Vision Group of Korea and Tuma Enterprises of Liberia sign MOU to develop technology and ecosystem business in Africa

INCHEON, SOUTH KOREA. November 15th, 2024 - South Korea’s Vision Group, led by Chairman Dae-Yong Han, and Liberia’s Tuma Enterprises, led by CEO Arnold H. Badio, signed a Memorandum of Understanding (MOU) on November 1st to strengthen global business cooperation. This MOU marks a significant step toward combining the strengths and visions of both companies to create future-oriented business models and foster new growth opportunities in African and global markets.

Vision Group, a technology-focused platform company, specializes in app development, AI-driven smart farming, telecommunications, and renewable energy solutions. With a strong international presence including branches in India, China, Russia, Vietnam, Europe, and the Middle East, Vision Group has established a robust global network. The company, which has collaborated with various domestic and international partners to develop smart solutions and innovative business models, plans to accelerate its business expansion in Africa through its partnership with Tuma Enterprises.

Tuma Enterprises, a leading technology company in Liberia with additional offices in Sierra Leone, Ghana, Kenya, and the United States, is a pioneer in smartphone technology, electric vehicles, and blockchain solutions within the region. This collaboration will focus on making affordable, high-quality smartphones widely available across Africa. Tuma Enterprises has already made smartphones accessible to the Liberian public at competitive prices, significantly improving digital connectivity. Working together with Vision Group, they plan to ramp up smartphone production to provide a digital lifeline to underserved communities in Africa.

The two companies aim to design cost-effective smartphone models for large-scale production, making it easier for African consumers to access digital tools. With features tailored to local conditions—such as extended battery life, compatibility with low-speed network environments, and robust security options—the smartphones will be optimized for stable, reliable use in both urban and rural areas. This approach is expected to help bridge the digital divide, increasing smartphone usage rates significantly across the continent.

Both companies also intend to establish a distribution network and after-sales service centers locally to ensure easy access to products and support. This initiative will create local jobs and boost regional economies, while providing on-the-ground technical support and customer service for enhanced consumer satisfaction.

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In the electric vehicle sector, Tuma Enterprises is developing custom EV models adapted to the local road conditions and infrastructure, leading the way for eco-friendly transportation. Under this MOU, Vision Group and Tuma Enterprises will work together to build electric vehicle infrastructure, including charging stations and related service networks, to meet EV demand in Liberia and nearby countries. By integrating Vision Group’s AI and telecommunications technologies, the partnership also aims to optimize EV performance and explore the development of autonomous driving systems within smart cities.

Smart city development represents another major area of collaboration in this partnership. Vision Group’s expertise in AI-based resource management and IoT technology, combined with Tuma Enterprises’ EV and blockchain capabilities, will provide a model for urban development across Africa. The MOU includes plans to address Africa’s energy shortage by establishing solar and tidal power plants, promoting sustainable development with reliable energy sources to power these smart cities.

Vision Group and Tuma Enterprises will jointly explore potential projects involving platform business integration and advanced technologies, such as AI-driven smart farming, expanded EV and renewable energy infrastructure, and smart city initiatives. The companies also plan to promote cross-border technological and personnel exchanges to increase future collaborations with other global partners, creating a sustainable future through a shared vision.

Vision Group Chairman Dae-Yong Han commented, “This collaboration with Tuma Enterprises is an important opportunity for Vision Group to expand its platform and technology into the African market. We will continue to provide tailored solutions that meet local needs, leading the growth of Africa’s technology industry in partnership with Tuma Enterprises.”

With this MOU, both companies are expected to broaden their cooperation in forward-looking industries such as smartphones, electric vehicles, and AI technologies. The potential synergy between Vision Group and Tuma Enterprises promises to bring positive transformation across Africa.