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European Investment Bank’s (EIB) Invests €25M in Amethis Fund III to Boost Africa’s Economic Development


The European Investment Bank’s (EIB) EIB Global division has made a significant investment of €25 million in Amethis Fund III, a private equity fund that operates across Africa. This investment aims to support the growth of medium-sized businesses that serve low- and middle-income populations, promoting economic growth and sustainable development in various sectors across the continent.

Amethis Fund III will target companies operating in sectors such as healthcare, business services (including logistics and IT), manufacturing and distribution (encompassing agribusiness and fast-moving consumer goods), non-banking financial services, and services related to infrastructure and energy. The fund’s investment strategy aligns with the EIB Global’s objectives and the European Union’s Global Gateway strategy, supporting economic development across a range of geographies, with a particular focus on sub-Saharan countries.

Commenting on the investment, EIB Vice-President Thomas Östros emphasized the bank’s commitment to supporting Amethis in its efforts to invest in small companies in low- and middle-income countries across Africa. “We see Africa as a close and important partner to the Bank, which has a lot of potential and untapped opportunities,” he said, adding that the partnership with funds like Amethis seeks to address the lack of patient equity capital that African enterprises often face, hindering their growth.

Luc Rigouzzo and Laurent Demey, managing partners at Amethis, expressed their pride in receiving renewed support from the EIB. “Building upon our prior collaborations, its strategic support will enable us to continue helping medium-sized companies deliver better goods and services to African consumers and to become African champions by promoting regional integration and sustainable economic growth,” they stated.

The EIB has a long-standing 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 investment has played a catalytic role in attracting other investors due to its adherence to best market practices in terms of environmental, social, and governance criteria, ensuring maximum impact at the portfolio company level.

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

Amethis leverages its strong on-the-ground presence across four African capitals – Nairobi, Abidjan, Casablanca, and Cairo – to identify new opportunities and monitor market evolution in each country. This local presence has enabled Amethis to build a reputation as a trusted partner for companies in their expansion phases, favoring value creation and positive impact.

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



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