Proparco announces €20 million investment in Amethis Fund III to support job growth in Africa
Proparco and Amethis continue their long-standing collaboration in support of the African private sector. This new investment by Proparco in the Amethis Fund III (“AF III”) aims to support African medium-sized companies that provide quality goods and services on the continent.
Founded in 2012, Amethis is a pan-African private equity platform that has raised over €1 billion since its inception, from a diverse investor base: private, family and institutional as well as development finance institutions. Proparco is a long-standing partner of Amethis, with several investments in the Amethis Fund II, Amethis MENA Fund II and co-investments in two companies: Merec in Mozambique and Netis in Sub-Saharan Africa.
Amethis promotes the development of quality goods and services to African populations and the improvement of the social and environmental (ES) performance of its portfolio companies, with a particular focus on gender equality, reducing inequality, insurance cover for employees and climate efficiency.
The AF III fund will support the development of medium-sized African companies, thereby contributing to the development of local production capacities. The project will contribute to the creation of quality jobs: 18,000 jobs should be supported in the long term. Through its commitment to reducing gender inequality, Amethis has joined the 2 X Challenge, which promotes female leadership and employment, and is working with a majority of its portfolio companies to increase the proportion of women in the workforce and in management teams.
« Proparco is delighted to be working with a long-standing partner, Amethis, with whom we share many values and a common commitment to the sustainable and inclusive economic development of the African continent. Proparco’s investment in Amethis Fund III will support African entrepreneurship, particularly among women, and quality employment, in line with our strategic ambitions, in particular the reduction of socio-economic and gender inequalities. » Françoise Lombard, Managing Director of Proparco.
« Amethis is proud to count Proparco among its long-standing supporters. This new investment will enable us to further our shared goal of sustainable and inclusive growth in Africa and positively impact the communities we serve. » Luc Rigouzzo and Laurent Demey, Managing Partners of Amethis.
About Proparco
Proparco, a subsidiary of Agence Française de Développement Group, has been working with the private sector for over 45 years for a more just and sustainable world. With an international network of 23 local offices, Proparco works closely with its partners to build sustainable solutions in response to environmental and social challenges in Africa, the Middle East, Asia and Latin America. Proparco benefits from sector-based expertise as well as a wide range of financial solutions tailored to the different stages of business development, notably thanks to its Digital Africa subsidiary, and its Propulse technical assistance offering designed to scale up the impacts and performance of its partners.
Proparco’s new “Acting together for greater impact” Strategy 2023-2027 enables, strengthens and amplifies the different ways in which it works with its partners.
To learn more: https://www.proparco.fr/fr/strategie
About Amethis
Founded by Luc Rigouzzo and Laurent Demey, and member of Edmond de Rothschild Private Equity Partnership, Amethis is an investment fund manager active in Africa and Europe, with assets under management of €1 billion and more than 40 or so investments to date. Amethis provides growth capital to promising mid-sized champions in a variety of sectors, offering growth support through its international network covering Europe and Africa. With six offices in Paris, Abidjan, Casablanca, Nairobi, Cairo and Luxembourg, the Amethis team includes 50 experienced professionals with strong regional and sector expertise.
To learn more: www.amethis.com