New CEO in Ecohomes Company Limited

MTI Investment CEO Pontus Engstrom says: "During the past six months we have witnessed cost inflation in supplies and raw materials, which creates a need to strengthen internal controls and processes in Ecohomes, and to focus more on profitability over growth. In the new environment in which we operate, we have therefore concluded that Ecohomes needs a new type of leadership, and after a competitive executive search, we have found an individual who we believe can help lead this refocus and ultimate transformation of Ecohomes into a profitable business. The new CEO of Ecohomes, Mr. Harry Tuluhungwa, has 30 years of local and international professional experience, having worked in organizations like General Practice Administration System for Scotland (GPASS), British Telecom (BT), IBM, all in the UK; Serengeti Breweries (a subsidiary of Diageo), Airtel Tanzania, Standard Chartered bank and Citibank in Tanzania. We have known Harry from our own network for nearly eight years, and we know that Harry operates with a strong sense of transparency and professionalism, which are key values to us in Ecohomes and MTI Investment. Former CEO and co-founder Eric Chonjo steps aside but will be supporting Ecohomes in a new business development role."

Ecohomes is a construction company based in Tanzania with activities in property construction and steel frame manufacturing. Ecohomes designs and builds affordable homes, offices, and buildings using modern cold steel forming technology. The company was founded in 2015 by four Tanzanian engineers. The technology used is called lightweight steel and is a relatively new technology in Tanzania. The few construction companies that have used this technology and material have realized how cost-effective it is. In recent years, Ecohomes has been involved in many projects for both large national and international companies such as the Tanzanian banks CRDB, Stanbic Bank, and the French company TOTAL, as well as participated in government projects. Ecohomes has also been involved in a large construction project known as "Star Home", consisting of 110 homes in the the Mtwara region. The project was recently featured on BBC.