EIB Global division invests €25 million investment in Amethis Fund III

The European Investment Bank’s (EIB) EIB Global division has made a notable €25 million investment in Amethis Fund III, a private equity fund active across Africa. This investment is designed to foster the growth of medium-sized businesses serving low- and middle-income populations, thereby encouraging economic growth and sustainable development in various sectors across the continent.

Amethis Fund III focuses on companies in sectors such as healthcare, business services (including logistics and IT), manufacturing and distribution (covering agribusiness and fast-moving consumer goods), non-banking financial services, and infrastructure and energy services. The fund’s investment strategy is in line with the objectives of EIB Global and the European Union’s Global Gateway strategy, aiming to support economic development in multiple regions, with a particular emphasis on sub-Saharan Africa.

EIB Vice-President Thomas Östros highlighted the bank’s commitment to supporting Amethis in investing in small enterprises across Africa. “Africa is a key partner for the Bank, full of potential and untapped opportunities,” he said. Östros added that this partnership with funds like Amethis addresses the shortage of patient equity capital that African enterprises often face, which hampers their growth.

Amethis managing partners, Luc Rigouzzo and Laurent Demey, expressed their pride in receiving continued support from the EIB. “Building on our previous collaborations, EIB’s strategic support will enable us to help medium-sized companies deliver better goods and services to African consumers and become African champions by promoting regional integration and sustainable economic growth,” they stated.

The EIB has a rich history of investing in equity funds focused on Africa, with nearly €3 billion committed to both country-specific and regional funds. The bank’s early investments have been instrumental in attracting other investors, adhering to best market practices regarding environmental, social, and governance criteria to ensure maximum impact at the portfolio company level.

Over the past 12 years, Amethis has supported the growth of more than 30 African companies, directly employing over 40,000 people. These companies not only contribute to a high-quality economy but also work towards achieving significant Sustainable Development Goals for the continent.

Amethis leverages its robust on-the-ground presence across four African capitals – Nairobi, Abidjan, Casablanca, and Cairo – to identify new opportunities and monitor market developments in each country. This local presence has allowed Amethis to establish itself as a trusted partner for companies during their expansion phases, favouring value creation and positive impact.

The EIB’s investment in Amethis Fund III underscores the growing recognition of the critical role that private capital plays in driving economic development in Africa. By providing essential growth capital and expertise, private equity funds like Amethis are spurring the growth of medium-sized enterprises, fostering job creation, and promoting sustainable development across the continent.

Picture Cred: HapaKenya