Amethis acquires minority stake in pharmaceutical distributor Avacare

SOUTH AFRICA – Amethis, an Africa-focussed investment fund manager has acquired a minority stake in Avacare, a key regional distributor and manufacturer of both pharmaceuticals and healthcare consumable products across South Africa. The fund manager focused on the African continent will support Avacare in its project to strengthen its pharmaceutical products. Avacare is a pan-African distributor and manufacturer operating across several African countries among them Namibia, South Africa, Lesotho, Botswana, eSwatini, Zimbabwe, Zambia, and Kenya. Avacare, which has been in existence for 25 years, is also thinking of expanding its presence in…

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Amethis Mena Fund raises US$100m to finance small and medium-sized enterprises

MOROCCO – Amethis Mena Fund II (AMF II), a fund by investment fund manager Amethis, has announces a fundraising of US$100.81 million for growing small and medium-sized enterprises (SMEs) in Africa, five months after its first commitment in Morocco. Amethis’ fundraising aims to finance small and medium-sized enterprises (SMEs) with a strong economic, social and environmental impact. Amethis will reinvest the funds in SMEs based in Morocco, Egypt, Tunisia and Jordan. Amethis Mena Fund II (AMF II) is the second North African investment fund launched by Amethis this year. The…

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Amethis divests its minority stake in Sodigaz APC to AIIM

BURKINA FASO – Amethis, an investment fund manager, has announced the sale of its minority stake in Sodigaz APC to African Infrastructure Investment Managers (AIIM). Sodigaz APC is the leading gas bottle (LPG) distributor in Burkina Faso with a market share exceeding 60% and a unique distribution network of 2,200 gas resellers. Created in 1977 by Amidou Bolly, Sodigaz APC has genuinely participated to the development of the butane gas market in Burkina Faso and in the fight against deforestation. The company employs now over 780 people. “The partnership with…

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Investment fund manager Amethis announces first closing of Amethis MENA Fund II

AFRICA – Amethis, an investment fund manager dedicated to long-term responsible investing across the African continent, has announced the first closing of Amethis MENA Fund II at US$101 milion. AMF II’s final closing is scheduled for July 2022, with several investors currently in due diligence. The Fund, which will target majority and minority investments ranging from US$5.91 million to US$17.73 million in fast-growing small-to-medium sized enterprises in Morocco, Egypt, Tunisia and Jordan, is Amethis’ second SME MENA fund and fifth overall fund. It succeeds AMF I, formerly known as CNAV…

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Investment manager Amethis appoints 2 new partners in the firm bringing the number to 6

AFRICA – Amethis, an investment fund manager dedicated to the African continent, has announced the appointment of two new Partners, Khady Koné-Dicoh and Jean-Thomas Lopez, bringing the number of Partners in the firm to six. Khady and Jean-Thomas, who joined the firm in 2013 and 2012, have been instrumental in the creation and development of Amethis over the past decade. “Together with their fellow partners and the whole Amethis team, they will take an even more important role in our ambitious projects for the coming years, always serving our community…

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Naivas set to bag US$15m for sale of its minority stake to IFC, Amethis, DEG and MCB Equity Fund

KENYA – Kenyan retail chain Naivas supermarkets is set to receive US$15 million for the sale of its minority stake to IFC, a member of the World Bank Group alongside French private equity fund Amethis Finance, DEG and MCB Equity Fund. “IFC seeks to make an equity investment alongside Amethis which will result in a minority stake in the company,” IFC said in a disclosure. The new capital injection is earmarked for expansion in the highly competitive local supermarket business that has attracted major players across the globe. “Through the…

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Amethis acquires stake in Mauritius Veranda Leisure and Hospitality Hotel

MAURITIUS – Amethis, an investment fund manager dedicated to the African continent, acquires a stake in Veranda Leisure and Hospitality (VLH), the hospitality subsidiary of Rogers Group, a listed company on the Stock Exchange of Mauritius. VLH is a Mauritius-based hotel and leisure company that focuses on hotels in the upscale and mid-range segments operating under Heritage Resorts and Veranda Resorts. Amethis’ investment will be mainly devoted to the projects of VLH as well as those of its leisure subsidiary, Island Living. These projects include the development of the Bel…

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