This five-year initiative aims to revolutionize financial management for content creators by providing them with cutting-edge digital tools.

“We want to empower these digital pioneers with the financial security and tools they need to flourish in the ever-changing payments landscape,” said Shehryar Ali, a senior Mastercard official for East Africa and the Indian Ocean Islands.

“This investment aligns with our mission to promote financial inclusion and drive innovation in Africa’s rapidly evolving digital economy.”

Mastercard’s investment supports the gig economy by providing innovative digital payment solutions like watch cards and ring cards.

These secure and convenient options will allow creators to receive payments directly from brands, fans, and sponsors, eliminating the need for traditional channels.

Wowzi will leverage its network to boost creators’ visibility and earning potential, while MDP will ensure secure and seamless transactions through its technical expertise.

Africa’s internet economy holds immense promise, with a potential value of $180 billion by 2025 according to a 2020 IFC report (e-Conomy Africa 2020).

This highlights the importance of Mastercard’s investment in digital solutions for African content creators.

This collaboration marks a significant step towards the future of digital finance in Africa, combining creativity and technology to empower the continent’s content creation industry.

This investment aims to fuel the growth of mid-sized African companies serving low- and middle-income populations, driving economic expansion and sustainable development across various sectors.

Amethis Fund III will target businesses operating in healthcare, logistics and IT (business services), manufacturing and distribution (including agribusiness and consumer goods), non-banking financial services, and infrastructure and energy-related services.

This aligns with EIB Global’s and the European Union’s Global Gateway strategy’s focus on fostering economic development in diverse regions, with a particular emphasis on sub-Saharan Africa.

EIB Vice-President Thomas Östros highlighted the bank’s commitment to supporting Amethis’ endeavors in Africa.

“We view Africa as a key partner with immense potential and untapped opportunities,” he said.

Östros emphasized that the partnership addresses the lack of patient equity capital hindering the growth of African businesses.

Luc Rigouzzo and Laurent Demey, managing partners at Amethis, welcomed the renewed EIB support.

“Building on past collaborations, this strategic backing allows us to empower mid-sized companies to deliver superior goods and services to African consumers,” they stated.

“We aim to create African champions by promoting regional integration and sustainable economic growth.”

The EIB has a proven track record of investing in Africa-focused equity funds, with nearly €3 billion committed to both regional and country-specific funds.

The bank’s early investment has played a crucial role in attracting other investors due to its adherence to best practices in environmental, social, and governance (ESG) criteria, ensuring maximum impact on portfolio companies.

Since its inception 12 years ago, Amethis has supported the growth of over 30 African companies, directly creating over 40,000 jobs.

These companies contribute not only to economic development but also to achieving crucial Sustainable Development Goals for the continent.

Amethis leverages its strong local presence in Nairobi, Abidjan, Casablanca, and Cairo to identify new opportunities and track market trends in each country.

This on-the-ground presence has established Amethis as a trusted partner for expanding companies, prioritizing value creation and positive impact.

The EIB’s investment in Amethis Fund III underscores the growing recognition of private capital’s critical role in driving economic progress in Africa.