Amethis Finance (« Amethis ») is pleased to announce the closing of its third debt investment.
Amethis has participated in a US$75m syndicated subordinated term loan qualifying as Tier 2 capital arranged by FMO for Ecobank Nigeria. Amethis invested US$15m alongside DEG (US$20m), Swedfund (US$10m) and FMO (US$30m) , the lead arranger.
This transaction will bolster Ecobank’s loan portfolio enhancing and enable much needed private sector development in the largest economy of Sub-Saharan Africa. In addition, this capital will support the bank’s development and growth in SME lending. It will therefore foster sustainable job creation and support the Nigerian economy thanks to the direct investments it will generate on the Nigerian SMEs segment.
Ecobank Nigeria is a fully-fledged commercial bank with a large and competitive capacity in retail banking. The bank is one of the 8 systemically important banks in Nigeria and the 6th largest bank in terms of total assets. It currently has the 2nd largest branch network in the Nigerian banking industry. In addition to its Corporate Bank business, Ecobank Nigeria focuses on local corporates and SMEs, thereby supporting and creating jobs in the Nigerian economy.
The Ecobank Group is the first pan-African banking group, having a presence in 35 countries. It was established in 1985 in Togo by leading West African institutions to become the “first African bank”. The Group has rapidly grown by acquisition to reach a critical mass spanning the main financial hubs of the continent.
“We are thrilled by this partnership with FMO on a transaction that will bolster Ecobank Nigeria’s activity towards the SMEs segment. This facility will strengthen Ecobank Nigeria’s capital base and competitive positioning. We are glad to support such a leading financial institution in the Continent’s largest economy” stated Luc Rigouzzo, Managing Partner and Co-founder of Amethis.
Laureen Kouassi-Olsson, Investment Director and Head of Financial Institutions at Amethis, commenting on the transaction: “This transaction reinforces Amethis’competitive edge towards African financial institutions and is a case in point of our strategy to support in the long run leading commercial banks in their capital base strengthening and portfolio enhancing”.
FMO is the Dutch development bank. FMO has invested in the private sector in developing countries and emerging markets for more than 45 years. Our mission is to empower entrepreneurs to build a better world. We invest in sectors where we believe our contributions can have the highest long-term impact: financial institutions, energy and agribusiness. Alongside partners, we invest in the infrastructure, manufacturing and services sectors. With an investment portfolio of EUR 8 billion spanning over 85 countries, FMO is one of the larger bilateral private sector development banks globally. www.fmo.nl
About Amethis Finance
Amethis Finance is an investment vehicle dedicated to Africa, with a total investment capacity of USD 530 million. Amethis Finance has been created by a team of experienced investors and bankers led by Luc Rigouzzo and Laurent Demey and by La Compagnie Benjamin de Rothschild, subsidiary of the Edmond de Rothschild Group. They have been joined by a large group of private investors combining financial institutions and family offices. Amethis Finance is a “one stop shop” which provides all long-term financial instruments (long-term debt, equity and quasi equity investment), with high standards and objectives in terms of development, social and governance criteria. Amethis Finance’s ambition is to tap into the significant potential offered by the financial institutions landscape in Sub-saharan Africa and to dedicate 40% of its activity to this industry.
Contacts (The telephone number provided below is for the exclusive use of journalists and other media representatives.) :