EIB Global Invests €25 Million in Amethis Fund III to Boost African SMEs

The EIB's investment in Amethis Fund III is part of its broader commitment to Africa, with nearly €3 billion invested in equity funds across the continent.

In a bid to bolster economic growth and development in Africa, the European Investment Bank (EIB Global) has injected €25 million into Amethis Fund III, a pan-African fund focused on providing private equity growth capital to medium-sized companies across the continent.

Amethis Fund III's investment strategy is centered around supporting companies catering to low and middle-income populations in Africa, particularly in sectors such as healthcare, business services, manufacturing, distribution, agribusiness, and fast-moving consumer goods. Additionally, the fund aims to address critical issues for the continent's sustainable development, including gender equality, sustainable employment, and climate considerations.

Thomas Ostros, Vice President of the EIB, highlighted the importance of supporting small companies in low- and middle-income African countries, emphasizing the need for patient equity capital to fuel their growth. He underlined the potential of African enterprises and the role of private equity funds in driving economic development through external funding and expertise.

Luc Rigouzzo and Laurent Demey, Managing Partners at Amethis, expressed their gratitude for the continued support from the EIB, noting that it will enable them to further empower medium-sized African companies to deliver better goods and services, promote regional integration, and foster sustainable economic growth.

The EIB's investment in Amethis Fund III is part of its broader commitment to Africa, with nearly €3 billion invested in equity funds across the continent. These investments aim to attract other investors by adhering to best market practices in terms of environmental, social, and governance (ESG) standards, thereby maximizing impact at the portfolio company level.

Amethis, with a strong on-the-ground presence in Nairobi, Abidjan, Casablanca, and Cairo, has already supported the growth of over 30 African companies, directly employing more than 40,000 people. Leveraging its local expertise and strategic partnerships, Amethis is well-positioned to drive value creation and impact while contributing to Africa's sustainable development goals.