MTI Investment's subsidiary Ecohomes is awarded a major contract for CRDB Bank in Lubumbashi in the Democratic Republic of the Congo worth approx. SEK 5.6 million (EUR 541,00

MTI Investment SE announces that its subsidiary Ecohomes Company Ltd has been awarded a major contract for fit-out works for DRC subsidiary head office branch and premier lounge at Lubumbashi in the Democratic Republic of the Congo for a total fixed cost of USD 595,000, inclusive of VAT, which corresponds to approximately SEK 5.6 million (EUR 541,000).

CRDB Bank Plc is the largest commercial bank in Tanzania in terms of asset size and is listed on the Dar Es Salaam stock exchange. CRDB aims at becoming a regional powerhouse and has already a presence in neighboring Burundi, with plans to enter Zambia, Malawi, Comoro, Uganda, and Kenya.

Lubumbashi is the third-largest city in the Democratic Republic of the Congo (DRC), and a key commercial and industrial center, located in the country's southeasternmost part, along the border with Zambia. The city has more than 2.6 million inhabitants in the urban area. On March 29th, 2022, DRC will formally become the 7th member of the East African Community (EAC), thereby creating a trading bloc of approximately 300 million people.

Pontus Engström, CEO of MTI Investment and Chairman in Ecohomes says "It is a remarkable achievement by the team in Ecohomes, and it makes us proud to be assisting CRDB in achieving its vision. With many people lacking access to a bank, the construction of more bank branches is absolutely vital to the growth of business."

Eric Chonjo, founder, and CEO of Ecohomes explains: "With 80,000 trucks passing through the border between Tanzania and DRC, where most of the transactions are done in cash, the establishment of a subsidiary here will have a monumental impact on the growth of the region and facilitate more business between the two countries. Once we start breaking ground, there will be more opportunities for us ahead."

The construction work has just begun and is expected to last for twenty-two weeks. Inclusive of the previously announced projects for CRDB and Stanbic, Ecohomes has during the first three months of the year landed projects worth SEK 10 million (EUR 963,000). The revenues of this project will fall into quarter 2 and 3 when the project is completed. By comparison, last year, Ecohomes achieved a turnover of EUR 1.367,000. MTI Investment owns 77% of Ecohomes whereas the remaining 23% is owned by Pivotech Company Limited.

Certified Adviser

The Company's Certified Adviser is Mangold Fondkommission AB which can be reached at 08-5030 1550 and by e-mail [email protected]

For additional information

Pontus Engström, CEO, MTI Investment SE

[email protected]

+46 70 716 55 38

About MTI Investment SE

MTI Investment SE is a Nordic investment and venture building company, founded in 2014 by a team with extensive experience from emerging markets with the aim of investing in East African small and medium-sized enterprises ("SME") with high value-adding potential. The Company is active in the expansive East African market, and by being a long-term and active owner, MTI Investment helps its portfolio companies grow faster and become more profitable. The Company invests primarily in innovative and scalable companies that have the potential for a significant positive impact on society.

Changes in MTI Investment group management

STOCKHOLM, SWEDEN - MTI Investment announces changes in group management, with a reduction of costs in the Swedish parent company and a stronger presence in East Africa.

MTI Investment's presentation from Småbolagsdagarna 2022 is now available on YouTube

MTI Investment CEO Pontus Engström presented the build up of MTI Investment and its core holdings, including performance to date, in addition to answering several questions

MTI participates in Småbolagsdagarna on 15 June 2022

STOCKHOLM, SWEDEN - MTI Investment CEO Pontus Engstrom will present the portfolio performance and the latest developments in MTI Investment and answer questions at Aktiespararna's event on June 15th at 17.00 - 17.30.

MTI Investment SE and Techbridge Invest AS announce a partnership around investments and accelerator programs in climate/solar and tech investments in East Africa

STOCKHOLM, SWEDEN - MTI Investment announces today that it has signed an agreement with Techbridge Invest AS around investments and accelerator programs in climate/solar and tech in East Africa

Zanrec faces an unexpected area change in the North A district on Zanzibar

STONETOWN, ZANZIBAR - MTI Investment subsidiary Zanrec Plastics Company has unexpectedly faced an area change of the dedicated collection areas in the North A district on Zanzibar, following a decision by the North A district council. As a result, Zanrec sees sales drop in the month of May.

Kommuniké från årsstämma i MTI Investment SE den 9 juni 2022

Årsstämma i MTI Investment SE ("Bolaget") ägde rum idag den 9 juni 2022. Med stöd av tillfälliga lagregler har aktieägare enbart kunnat utöva sin rösträtt per post. De huvudsakliga besluten fattade av stämman framgår nedan.

Meet the management in MTI Investment SE

STOCKHOLM, SWEDEN - MTI Investment SE organizes an afternoon when investors can meet and listen to the management team

Torbjörn Jacobsson joins MTI Investments subsidiary Ecohomes Company Limited as a new member of the Board

STOCKHOLM, SWEDEN - MTI Investment announces that Torbjörn Jacobsson, has been elected to the board of Ecohomes Company Limited, a subsidiary (77%) of MTI Investment. Jacobsson will also take on an operating role within MTI as Chief Governance and Risk Officer (CGRO).

Följ oss

Om beQuoted

beQuoted publicerar nyheter, analyser och pressmeddelanden för investerare och journalister. Viktiga företagshändelser bevakas av vår egen nyhetsredaktion och vidaredistribueras i ledande finansiella medier.

Vi uppdaterar även nyhetsrum, Investor Relations och IR-webbplatser för företag som vill utveckla sina relationer med finansmarknaden.

Kontakta oss

beQuoted AB
Nybrogatan 34
Box 5216
102 45 Stockholm

08-692 21 90

Om beQuoted