Matamba Anonaka Technology Holdings establishes renewable energy subsidiary.

Posted on November 10, 2011

Matamba Anonaka Technology Holdings (MATHs) announced today that they have established a new business called Matamba Energy (Pvt) Ltd (ME) in order to exploit opportunities in the alternative energy sector in Zimbabwe.

The Company’s first objective is to acquire a significant equity holding in an existing small scale hydroelectricity project that is in need of capital for both rehabilitation of the current plant and the development of a new downstream second phase.

Geoff Goss, CEO of MATHs said, “We are very pleased to be entering this sector for both commercial and developmental reasons.  Any additional supply of power into the national grid is always going to be welcome and of course the supply of clean renewable energy is extremely attractive in this environment.”

The Company is in partnership on this project with Vidway Investments, a Zimbabwean engineering firm, and has also entered into discussions to further indigenise the subsidiary as the project progresses.  Said Goss, “We have very strong entrepreneurial partners on this development.  Once again we are proving our business model of bringing together the best of international technologies, skilled Zimbabwean management, and appropriate financial structures under the umbrella of a transparent investment vehicle like MATHs.  This way we create socially responsible businesses that will generate appealing returns for all our stakeholders.”

The Company also announced that it is exploring other renewable energy projects, specifically in the field of solar powered street lighting, and is currently negotiating a technical partnership agreement with a leading supplier of solar powered solutions.

“In Zimbabwe it always amazes me that we have not managed to harness the power of the sun more effectively”, continued Goss.  “The cost and efficiency of the technology is coming down and we believe that we are now well positioned to develop a viable business in this sector.  Other than the obvious synergies between maintaining street lights and say our other business of telecoms towers, we are also able to leverage our expertise in the advertising space through Gikko.net.  This can add another level of income to the leased infrastructure model that allows us to ensure that the charge out costs are kept to a minimum.”

Matamba Energy expects to have its first project operational by mid-2012 and has a vision to follow this with much larger projects in the years ahead.

About MATHs

Matamba Anonaka Technology Holdings (MATHs) is the first and only technology focused Venture Capital Company in Zimbabwe, and was established in 2010 with the objective of developing Greenfield projects with proven existing technologies in identified market gaps and to make equity investments to re-capitalise once flourishing businesses.

MATHs is a transparent investment channel that can identify opportunities and professionally manage invested equity that will generate immediate cash flows from existing operations and invest in new projects in high growth areas.

For further information please contact:

MATHs – info@matambaanonaka.com   www.matambaanonaka.com

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