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MTI Investment's subsidiary Ecohomes is awarded another contract for interior works at Stanbic Bank, the Moshi Branch, of approximately SEK 1.5 million (EUR 144,000)
MTI Investment SE announces that its subsidiary Ecohomes Company Ltd has been awarded another contract to do interior construction works for Stanbic Bank, this time the Moshi Branch in Dar es Salaam for a total fixed cost of TZS 376 million, inclusive of VAT, which corresponds to approximately SEK 1.5 million (EUR 144,000).
Stanbic Bank Tanzania is one of the largest full-service commercial banks in Tanzania, and is part of the Standard Bank Group of South Africa, the largest African bank by assets, operating in 20 countries across Africa.
The construction work is expected to begin in February and to be completed in a short span of 10 weeks at the total cost of TZS 376 million including VAT, which corresponds to approximately SEK 1.5 million (EUR 144,000). Inclusive of the previously announced project for CRDB and Stanbic, Ecohomes has during the first month of the year landed projects worth SEK 4.4 million (EUR 421.000). In comparison, reported sales during the first nine months of 2021 were SEK 11.4 million (EUR 1.1 million). MTI Investment owns 64% of Ecohomes whereas the remaining 36% is owned by Pivotech Company Limited.
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
+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.
STOCKHOLM, SWEDEN - MTI Investment SE ("MTI" or the "Company") with ticker MTI announces today that it is increasing its ownership in the fast-growing FinTech Africa to 5.23% in a cash equity issue, investing SEK 500,000 to fund the company´s continued expansion in Tanzania and East Africa.
MTI Investment meddelar idag att man idag har avyttrat 12 procent av aktierna till Holdingsselskabet Claus Jørgensen II ApS för 190 000 USD, som i och med förvärvet får ett ägande om 25 procent i Zanrec. I samband med denna förändring går även Martin Rex Empacher in MTI Investments Advisory Board. Genom att MTI:s ägande minskas till 49 procent uppnås stora besparingar för MTI, då framtida rapportering förenklas genom att man för Zanrec därmed slipper kravet på konsolidering.
MTI Investment announces today that it has today divested 12 percent of the shares to Holdingsselskabet Claus Jørgensen II ApS for USD 190,000, which with the acquisition will have an ownership of 25 percent in Zanrec. In connection with this change, Martin Rex Empacher also joins the MTI Investments Advisory Board. By reducing MTI's ownership to 49 percent, large savings are achieved for MTI, as future reporting is simplified by eliminating the requirement for consolidation for Zanrec.
On investment opportunities in food and water - meet CEO Pontus Engström at the SWEACC breakfast event on November 16th, 2022
STOCKHOLM, SWEDEN - MTI Investment CEO Pontus Engström will discuss their experiences in East Africa in the agri sector, including the recently announced investment in sustainable protein company Chanzi. The event is hosted by SWEACC - the Swedish East African Chamber of Commerce.
STOCKHOLM, SWEDEN - The board of directors in MTI Investment SE (ticker: MTI) ("MTI" or the "Company") can today announce that it today, on 17 October 2022, has entered into a share purchase agreement with Fetter Anton Invest AS (controlled by Ida and Sondre Rideng) regarding the acquisition of 56 percent of the shares in Techbridge Invest AS. The closing takes place today. The total purchase price amounts to SEK 1,245,773.1 and is paid in the form of 319,429 newly issued shares in MTI. The board of directors has, therefore, based on the authorization from the annual general meeting on 9 June 2022, resolved to issue 319,429 new shares to the seller Fetter Anton Invest AS.
MTI Investment invests SEK 1.1 million (EUR 103.000) in fast growing, sustainable animal feed company Chanzi
STOCKHOLM, SWEDEN - In a financing round led by FINCA International, Inc., MTI Investment has invested USD 100.000 in a convertible debt note in Chanzi Limited, a leading East African producer of sustainable and nutritious animal feed that specializes in converting food waste with the help of black soldier fly larvae.
STONE TOWN, ZANZIBAR - Welcome to join the MTI investor trip to Zanzibar during January 15-18, 2023.
MTI Investment SE has signed a term sheet with the intention of acquiring 56 percent ownership, valued at SEK 1.2 million, in Techbridge Invest AS
STOCKHOLM, SWEDEN - MTI Investment SE (MTI) announces today that it has signed a term sheet about an intended acquisition of 56 percent of the shares, valued at SEK 1.2 million, in Techbridge Invest AS. The transaction is to be carried out through a share swap. The intended acquisition strengthens MTI's ability to take part in capacity building, accelerate and scale up small and medium-sized companies in East Africa, Kenya, and Uganda. It also improves MTI's investments into fintech and solar energy through the holdings in Techbridge Invest AS.
Welcome to the 2023 MTI Investor Trip to Zanzibar, Tanzania. The weather is expected to be nice and sunny. Join alone, or bring a partner or interested child. They will all be able to enjoy this trip.
"Over the past eight years, our investments have generated huge social impact - hundreds of jobs, healthy food products, houses, bank branches for improved access to finance, genuine and safe cosmetics, and saved nature from thousands of tons of waste. Our companies, even though challenges remain, are now more than ever focused on profitable growth, and particularly satisfying to see that Shambani Milk made a strong lift after seeing its performance drag for several quarters."
Pontus Engström, CEO of MTI Investment
MTI Investment SE