MTI Investment increases its interest-bearing cash generating credit facility to Fintech Africa and Mtaji by USD 150.000STOCKHOLM, SWEDEN - MTI Investment SE ("MTI" or the "Company") is pleased to announce an expansion of its partnership with Fintech Africa AB and its subsidiary, Mtaji Wetu Finance Tanzania Limited. MTI has decided to increase its loan facility by USD 150,000, bringing the total debt facility to USD 650,000. This enhanced credit facility, now totaling USD 650,000, comprises two components: one to Fintech Africa AB and the other to Mtaji Wetu Finance Tanzania Ltd, a subsidiary of Fintech Africa AB. MTI's current ownership stake in Fintech Africa AB stands at 13.14 percent. The terms of the agreement remain unchanged, with MTI continuing to earn a 12.5 percent interest rate on the loan to Fintech Africa and a fixed return of 13.5 percent on the loan with Mtaji Wetu Finance. The repayment schedule for Mtaji remains unchanged, with the loan to be repaid no later than April 30th, 2028, while the portion allocated to Fintech Africa expires on April 30th, 2026.
Since its inception in 2019 by Petter Sandgren, Pontus Engström, and Torbjörn Jacobsson, Fintech Africa AB has been active in the FinTech sector, specifically in Tanzania. With its Microfinance Tier II non-deposit-taking license acquired in 2022, the company has been providing solutions for SME financing. Meanwhile, Mtaji Wetu Finance has been supporting small businesses in Tanzania, offering services such as B2B customer invoice financing and purchase order financing.
Pontus Engström, CEO of MTI Investment SE, expressed his satisfaction, stating, "We are pleased to deepen our partnership with Fintech Africa and Mtaji. This decision reflects our commitment to the , performance, vision and growth plans of Mtaji and shows our confidence in the expertise and dedication of management and its team." For additional information
Pontus Engström, CEO, MTI Investment SE
[email protected]
+46 70 716 55 38
Torbjörn Jacobsson, CEO, Fintech Africa AB
[email protected]
+46 70 612 65 76 / +255 756 399 293
The following documents can be retrieved from beQuoted
PR-MTI-increases-the-credit-facility-to-Mtaji-and-Fintech-Af.pdf About MTI Investment SE
MTI Investment SE is a Nordic investment and venture-building company, founded in 2014 by a team with extensive experience in emerging markets to invest in East African small and medium-sized enterprises ("SMEs") 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.
The MTI Investment share (MTI) is traded on the Nasdaq First North Growth Market.
Certified Adviser to MTI Investment is Mangold Fondkommission AB.
Read more on: www.mti-investment.com
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