Canadian Impact Investment Fund strengthens the ICT sector in East Africa

Wednesday, April 6th, 2011

Waterloo, ON – Sarona Asset Management announced today that the MEDA Sarona Risk Capital Fund has invested US$500,000 in Mobile Transactions International (MTI).

Sarona is supporting companies that are leading the booming information and communication technology sector in East Africa. MTI links its clients through its electronic voucher, payment system and money transfer technologies. With better service, quality and pricing, these companies are already operational in Kenya, Tanzania and Zambia, and have expansion plans to Rwanda and Uganda in the works.

“We believe that our investments in these information and communication technology (ICT) companies will allow millions of East Africans the opportunity to transfer money to each other, conduct business through electronic cash methods and reduce inefficiencies and transaction costs in doing business in Africa,” said Gerhard Pries, President of Sarona. “These investments are part of our continuing effort to develop innovative initiatives in the field of impact investing. Building accessible and affordable information and communication pathways is critical to a society’s economic development.”

Sarona Asset Management is based in Waterloo, ON, and is a co-founder and/or manager of a number of impact investment funds, including the Sarona and MicroVest groups of funds. Together, these funds have over $180 million in assets under management in emerging and developing country markets around the world.

For further information, please contact:

Gerhard Pries
Managing Partner and CEO
Sarona Asset Management
gpries@saronafund.com
+1.519.883.7557
Vivina Berla
Senior Partner and MD Europe
Sarona Asset Management
vberla@saronafund.com
+31 20 798 13 10