New Investments

EIB Global Invests €25 Million in Amethis Fund III to Empower African Businesses

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The European Investment Bank’s (EIB) global development arm, EIB Global, has committed €25 million to Amethis Fund III, a pan-African private equity fund.

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.

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