New CEO in Ecohomes Company Limited
DAR ES SALAAM, TANZANIA - MTI Investment SE (MTI) announces that Mr. Harry Tuluhungwa is the new CEO of Ecohomes Company Limited, a subsidiary of MTI Investment SE
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.
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
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.
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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
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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