MTI Investment
MTI Investment AB is a Sweden-based investment company focused on active ownership of small and medium-sized businesses across Africa, with a particular emphasis on East Africa. Its portfolio combines early-stage growth investments with mature holdings, and it also operates advisory and venture-building activities through wholly owned subsidiaries in Kenya and Tanzania.
Fiscal year 2025 · change from previous year
Development 2022–2025
Business
Share of revenueCapital and active ownership in pre-seed and early-stage African businesses.
Holdings in established companies with recurring cash flows and NAV growth.
Business development and post-investment support for portfolio and external clients.
Hands-on support to build and scale new or early-stage operating businesses.
Customers
MTI Investment's direct customers are not consumers but portfolio companies, founders, and business owners seeking capital and active ownership support. It also serves development agencies and growth-stage companies through advisory and venture-building services, especially in East Africa. The investment thesis is centered on SMEs tied to consumer demand, food security, and working-capital needs in regional value chains.
Entrepreneurs seeking active ownership, governance support, and growth capital.
Pre-seed and early-stage businesses that need funding and operational support to scale.
Established businesses with cash flows that are held for value growth and NAV appreciation.
Organizations buying advisory and venture-building services in East Africa.
Strategic partners such as Yara-linked clients that create distribution and working-capital opportunities.
Strategy
MTI's strategy is to back high-quality African SMEs through active ownership, rigorous due diligence, and post-investment support. It runs two tracks: a growth portfolio for building early-stage businesses and an investment portfolio for mature companies with established cash flows and NAV growth. The company also aims to simplify its structure and use advisory capabilities to deepen its role in the African SME ecosystem.
Hands-on support is central to improving portfolio quality and investment outcomes.
Separates early-stage growth building from mature cash-generating holdings.
Local presence improves sourcing, support, and execution in target markets.
Geography
MTI Investment is headquartered in Sweden but its operating footprint is centered on East Africa, especially Kenya and Tanzania. The company also references a broader Africa-focused mandate, with portfolio exposure tied to regional consumer growth, urbanization, and food security. Geography matters because the business depends on local operating partners, cross-border execution, and country-specific economic and regulatory conditions.
Risks
MTI is exposed to the execution risk of early-stage and SME investing, where portfolio companies may fail to scale or generate cash flow. Its Africa concentration also creates country, currency, governance, and legal-enforcement risk, while valuation of unlisted holdings depends heavily on estimates and judgment. As an investment company, performance is also sensitive to portfolio concentration, liquidity of holdings, and the availability of follow-on capital.
The growth portfolio targets pre-seed businesses that may not scale or become profitable.
Exposure: Growth portfolio
Operations and portfolio companies are concentrated in Kenya and Tanzania, where macro conditions can shift quickly.
NAV depends on multiples, cash flow assumptions, and book value for private investments.
Exposure: Private portfolio companies
Active ownership and portfolio restructuring can be affected by disputes, compliance, and control issues.
Exposure: Holding structure and portfolio companies
Accounting
Judgemental itemsPrivate holdings are measured using judgmental valuation techniques that drive NAV.
Impact: Can materially change reported net asset value and equity
The group changed functional currency to SEK, affecting comparability of prior periods.
Impact: Can affect translation, presentation, and trend analysis
Carrying values depend on periodic impairment assessments.
Impact: May create non-cash write-downs in equity and earnings
Collectability and effective interest treatment affect asset and liability values.
Impact: Can influence reported net assets and finance costs
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Last updated: 24/09/2026