WATERLOO, ON, April 4 /CNW/ - Sarona Asset Management announced today
that its Sarona Frontier Markets Fund has committed US$1,500,000 in
the Africa Telecommunications, Media and Technology Fund (ATMT). In
addition, the Sarona Risk Capital Fund has invested US$300,000 in
Mobile Transactions Zambia (MTZ).
Sarona is supporting companies that are leading the booming information
and communication technology sector in East Africa. ATMT companies
offer their customers the first East African triple play service
solution (telephone, cable and broadband Internet) while MTZ 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 affordably connect to the Internet, receive quality
communications and programming, and improve the speed at which they
make financial transactions," 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.
SOURCE Sarona Asset Management Inc.
For further information:
Sarona Asset Management