European Investment Bank (EIB) Invests EUR 25 M In Amethis Fund III

The European Investment Bank (EIB) has invested €25 million(USD 27.18 M) into Amethis Fund III, a pan-African fund providing private equity growth capital to medium sized companies. Amethis Fund III will target companies supplying goods and services to low and middle-income populations in Africa. The target sectors include healthcare, business services such as logistics and IT, manufacturing and distribution including agribusiness and fast-moving consumer goods, non-banking financial services, and services related to infrastructure and energy.

EIB vice president, Thomas Ostros, commented: “The EIB is happy to support Amethis in its effort 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. However, African enterprises still don’t have enough patient equity capital they need for them to grow, which is what our partnership with funds like Amethis seek to address.”

“Private capital is a powerful driver of economic development in Africa. Private equity funds, through investment in local enterprises, are playing a catalytic role by bringing external funding as well as knowledge and technical expertise to the companies they invest in,” he added.