EIB Global injects €25 million to promote sustainable growth of African businesses

EIB Global injects €25 million

European Investment Bank (EIB Global) recently injected €25 million into Amethis Fund III, bolstering the pan-African fund’s efforts to provide private equity growth capital to medium-sized companies across the continent. The infusion is part of EIB’s broader strategy to foster economic development in diverse geographies, particularly in sub-Saharan Africa, aligning with the EU’s Global Gateway initiative.

Growing all sectors

Amethis Fund III’s focus lies on companies serving low and middle-income populations in Africa, spanning sectors such as healthcare, logistics & IT, manufacturing, agribusiness, fast-moving consumer goods, non-banking financial services, and infrastructure-related services. Embracing an impact-driven approach, the fund aims to tackle critical issues for sustainable development, emphasizing gender equality, sustainable employment—especially in healthcare—and climate considerations.

Thomas Ostros, Vice President of EIB, expressed enthusiasm about the collaboration, highlighting the significance of patient equity capital for African enterprises’ growth. He underscored private capital’s pivotal role in driving economic development on the continent, with private equity funds like Amethis playing a catalytic role by not only providing funding but also imparting knowledge and technical expertise.

EIB’s investment track record in Africa spans nearly €3 billion in equity funds, with a mix of country-specific and regional focus. These investments have acted as catalysts, attracting additional investors due to EIB’s stringent ESG standards, thus maximizing impact across portfolio companies.

Established twelve years ago, Amethis has significantly contributed to the growth of over 30 African companies, directly employing more than 40,000 people. Beyond economic contributions, these companies address crucial sustainable development goals for the continent. Amethis’ on-the-ground presence across key African capitals enables it to identify opportunities and monitor market dynamics closely, fostering its reputation as a trusted partner for companies embarking on expansion journeys, with a focus on value creation and impact.

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