MTI Investment SE (OM:MTI) entered into an agreement to acquire 18.54% stake in Fintech Africa Ab from Pontus Engstrom for SEK 1.65 million on May 2, 2024. MTI acquire 22,666 shares held by the co-founder, also Fintech Africa chief executive officer Pontus Engstrom, through Engström Investment Holding AB, in FTA. Following negotiations led by independent board directors and major shareholders, the purchase price for the FTA shares was set at SEK 123.06 per share.

Meanwhile, the share price of the Company remains consistent with the year-end report at SEK 1.76. Following the completion of these strategic transactions, the Company will hold a total of 44,679 shares in FTA, corresponding to approximately 36.54 percent of the company's total number of issued shares. This strategic initiative aligns seamlessly with MTI's objective to fortify its presence within the dynamic fintech sector in Tanzania, and in a company with a strong track record and management team.