MTI Investment SE

MTI Investment AB (Nasdaq First North: MTI) announced that Chief Financial Officer (CFO) Nedim Efendic will step down from his role effective December 30, 2024, but will remain with the company in an advisory capacity. His CFO duties will be taken over by an internal team led by Manvi Mathur in Stockholm, along with Ian Temu and Jesuit Richard in Tanzania. During his tenure, Nedim significantly strengthened the company's financial operations and advanced entrepreneurship training programs. He will continue to work on key initiatives, including Norad-funded projects in East Africa, as Head of Incubation and Acceleration while serving as Acting CEO of TechBridge Invest AS. MTI is finalizing a consultancy agreement with Nedim for his new role. MTI Investment AB, aiming to be a leading investment company in East Africa, combines Nordic capital and expertise with local entrepreneurial networks. The company's shares are traded on the Nasdaq First North Growth Market. For more information, contact Pontus Engström, CEO of MTI Investment AB.

MTI Investment AB (ticker: MTI) has released a 5-minute video commentary by CEO Pontus Engström, discussing the company's performance for the first half of 2024 and future strategic priorities. The video provides insights into MTI's portfolio growth and commitment to financial returns and social impact in East Africa. Key points include strong performance from portfolio companies like AML Finance, Mtaji Wetu Finance, and Shambani Milk, strategic initiatives such as expanding credit facilities and focusing on plastic recycling, and future plans emphasizing agriculture, financial services, and advisory businesses. Engström expressed confidence in MTI's direction and its impact on local communities. The video is available on YouTube, and further details can be found on MTI's website.

MTI Investment AB announced significant developments in its portfolio company, Chanzi, which focuses on sustainable waste management and insect farming in East Africa. Since its inception four years ago, Chanzi has grown rapidly, operating three commercial insect farms and employing over 75 staff members. The company processes over 50 metric tons of organic food waste daily, converting it into 1-2 metric tons of dried Black Soldier Fly Larvae (BSFL), making it one of the largest insect protein producers in the Southern Hemisphere. Chanzi's efficient production model has enabled it to achieve lower production costs and rapid growth. Following a strategic investment of USD 100,000 from MTI Investment SE in October 2022, Chanzi expanded its operations significantly, establishing new facilities in Kenya and Tanzania. These expansions have increased the company's waste processing capacity and environmental contributions, including preventing over 2,300 metric tons of CO2 emissions. Chanzi collaborates with companies like Unilever and AB InBev to convert organic waste into high-value protein and bio-fertilizer, benefiting local farmers and supporting sustainability. The company also launched a waste management company, Okota, to enhance its supply chain efficiency. As the global focus on sustainable food sources grows, Chanzi is raising additional funds to expand its facilities further. The company's model for managing waste and farming insects aims to transform cities into zero waste to landfill zones, aligning with MTI Investment's vision for sustainable growth in East Africa.

MTI Investment AB, through its portfolio company Shambani Milk Limited, has announced the appointment of Håkan Söderholm as an advisor and board member. Söderholm, who has over 30 years of experience at Tetra Pak, will provide strategic guidance to support Shambani Milk's growth and market expansion. His role will encompass areas such as strategic vision, brand development, product innovation, and financial strategy, with the goal of helping the company achieve over $2.5 million in annual revenue by 2027. Söderholm holds degrees in Business Management and Marketing and has held various leadership roles, including Managing Director for East Africa at Tetra Pak. He is known for his strategic vision, operational expertise, and leadership skills, particularly in driving growth and innovation in the packed liquid milk market. Victor Mfinanga, Managing Director of Shambani Milk, expressed confidence that Söderholm's experience aligns with the company's strategic goals and will drive its growth. This partnership underscores MTI's commitment to leveraging top-tier expertise for the benefit of its portfolio companies. Shambani Milk Limited is a leading milk processing company in Morogoro, Tanzania, known for producing high-quality dairy products and supporting local dairy farmers. MTI Investment AB aims to be a leading investment company in East Africa, combining Nordic capital and expertise with local entrepreneurial networks. The company's shares are traded on the Nasdaq First North Growth Market.

MTI Investment AB has announced the reversal of a previous share sale agreement with Frøydis Dybdahl Archer, making MTI the majority shareholder of TechBridge Invest AS again. MTI reacquires 7,500 shares, increasing its ownership to 56.1%. Frøydis Dybdahl Archer resigns as CEO of TechBridge, with Nedim Efendic, the current CFO of MTI, stepping in as Acting CEO. This consolidation is expected to enhance operational efficiency and support innovative businesses in East Africa. The reversal agreement involves repurchasing shares and revoking a previous loan agreement. The new board of TechBridge includes Pontus Engström, Trond Randøy, Tone Faugli, and Nermina Ljevacovic.

MTI Investment SE announced that its portfolio company, Zanrec Plastic Company Limited, is shifting from waste collection to plastic recycling by launching a new recycling facility in Zanzibar with an initial investment of USD 55,000. This facility will utilize advanced technologies to produce high-quality plastic flakes for packaging and textiles, and durable plastic poles for construction. Zanrec aims to meet the growing demand for sustainable materials in sectors such as tourism and construction. CEO Noah Amri Mwakanyamale emphasized the strategic pivot's role in addressing plastic waste and diversifying revenue streams. MTI Investment AB supports this move, viewing it as an opportunity to contribute to environmental sustainability while achieving financial growth.

MTI Investment AB (MTI) has announced that Techbridge Invest AS, in which MTI holds a 49.1% stake, has secured a NOK 25 million grant from the Norwegian Agency for Development Cooperation (NORAD). This funding aims to drive entrepreneurship, create up to 9,000 new jobs, and foster sustainable economic growth in East Africa, particularly in Kenya and Tanzania, from July 1, 2024, to June 30, 2027. The project focuses on the blue economy, reducing marine litter, and supporting startups through various phases including innovation challenges, incubation, and acceleration. The grant will be disbursed in installments based on financial needs and requires annual reporting and auditing. Techbridge Invest AS is owned by MTI Investment AB and other stakeholders. The initiative aligns with MTI's goal of sustainable transformation and high returns in East Africa.

MTI Investment AB (publ) (ticker: MTI) has officially converted from a European company (SE company) to a public limited company as of June 20, 2024. This change has been registered with the Swedish Companies Registration Office, and the company has been assigned a new registration number, 559487-1245. The decision for conversion was approved at the Annual General Meeting on June 7, 2024. Despite the change in company structure, MTI remains the same legal entity. For more details, visit the company's website or refer to previously published press releases. MTI Investment AB (publ) operates in venture capital and impact investing, focusing on East Africa, and is traded on the Nasdaq First North Growth Market. The company benefits from a diverse team and strong networks in both the Nordic region and East Africa.

The Annual General Meeting (AGM) of MTI Investment SE was held on June 7, 2024. Key resolutions included: 1. Adoption of the 2023 income statement and balance sheet. 2. No dividend for 2023; allocation of results as per the Board's proposal. 3. Discharge of liability for the Board members and CEO for 2023. 4. No board fees until the next AGM; auditor fees to be paid on approved accounts. 5. Election of a five-member Board, re-election of Trond Randøy as chairman, and re-election of Ernst & Young AB as auditor. 6. Conversion from a European Company to a public limited liability company, change of accounting currency from EUR to SEK, and amendments to the articles of association. 7. Introduction of Incentive Program 2024/2027A for senior executives and key personnel. 8. Rejection of Incentive Program 2024/2027B for Board members. 9. Approval of the acquisition of shares in FinTech Africa AB from the CEO and chairman through a directed share issue in kind. 10. Amendments to the articles of association for VAT registration, digital meetings, proxy collection, and postal voting. 11. Authorization for the Board to issue shares, convertibles, and/or warrants to meet capital needs and secure operations. For more detailed information, refer to the notice on the Company's website.

MTI Investment SE (ticker: MTI) has highlighted the significant contributions of TechBridge in Kenya, with operations based in Mombasa and Nairobi, and plans to expand into Tanzania. TechBridge supports local entrepreneurs through cohort-based programs focusing on both idea-stage incubation and post-revenue acceleration. They also offer consulting services, bridging East Africa and the Nordics. Recently, they completed an incubation cohort with 27 participants and have trained over 1000 entrepreneurs since 2016. TechBridge is piloting a new model for early-stage business support, emphasizing one-to-one mentoring, particularly in circular and blue economy sectors. Norwegian Deputy Minister of Development, Bjørg Sandkjær, visited TechBridge and praised its impact on private sector development. TechBridge, founded by the late Øivind Rideng and recognized as the "Incubator of the Year" in 2023, continues to foster innovation and sustainable development in East Africa. MTI Investment SE, a major shareholder in TechBridge, aims to lead in venture capital and impact investing in East Africa, leveraging Nordic expertise and local networks. MTI shares are traded on the Nasdaq First North Growth Market.