Proparco, through Fisea+, and Amethis introduce a technical assistance facility for ESG and impact projects, benefiting Amethis MENA Fund II companies

Paris, 16th May 2024 –

Proparco , through FISEA+, and Amethis have established a technical assistance facility covering ESG and impact projects, benefiting up to 12 companies of Amethis MENA Fund II (AMF2) over the next eight years.

Amethis and Proparco have committed to deploying a technical assistance mechanism for portfolio companies of AMF2. The fund, which reached its final close in 2022, targets majority and minority investments ranging from 5 to 15 million euros in small and medium-sized enterprises (SMEs) in Morocco, Egypt, Tunisia, and Jordan.

The facility, amounting to €400,000 and spanning eight years, aims primarily to support the progress of AMF2 companies on key environmental, social, and governance (ESG) matters.

To achieve this, four types of technical assistance projects will be funded:

 

These projects will be carried out by specialized service providers (consultancy firms) and most of the cost incurred will be covered by the facility, and the rest paid by beneficiaries.

Raphael Reynaudi, Sustainability & Impact Director (Amethis): “We sincerely thank Proparco for this opportunity. This technical assistance facility will be a key factor of value creation for the companies in our portfolio.”

Manal Tabet, Deputy Head of Technical Assistance & Blending (Proparco): “Encouraging funds to better integrate environmental, social and climate into their investment strategy can have a virtuous transformational effect on the development of African SMEs.  This commitment to positive impact alongside clients like Amethis is at the heart of our mission.”

The implementation of a technical assistance project follows five major steps:

 

About FISEA

The FISEA facility was set up by AFD Group in 2009 with the objective of promoting economic growth and the creation of MSMEs in Africa. In early 2021, FISEA+ initiative took over FISEA, with an additional investment capacity of EUR 210m, combined with a guarantee granted by the European Union under the EFSD+ program. FISEA+ takes into account changes in the market’s needs and has included specific investment objectives for fragile countries, social and solidarity-based enterprises and SMEs integrating digital innovation. FISEA+ comes with an ambitious TA program (EUR 21m), provided the French Ministry for Europe and Foreign Affairs and the European Union, still to support MSMEs, either directly or via investment funds.

FISEA+ is part of the French initiative Choose Africa, fulfilling France’s commitment to support African entrepreneurship.

About Amethis

Founded by Luc Rigouzzo and Laurent Demey and a member of the Edmond de Rothschild Private Equity Partnership, Amethis is an investment fund manager focused on the African continent, Europe and the Middle East, with assets under management of more than EUR 1 billion and more than 40 investments completed to date. Amethis provides growth capital to promising mid-market champions in a variety of sectors, offering growth support through its international network covering Europe and Africa. With six offices in Paris, Abidjan, Cairo, Casablanca, Nairobi, and Luxembourg, the Amethis team comprises over 50 experienced professionals with strong regional and sectoral expertise.

To find out more about Amethis, please visit www.amethis.com

About Edmond de Rothschild Private Equity

Edmond de Rothschild Private Equity (EDRPE) is an independent entity within the Edmond de Rothschild Group with more than CHF 3.6 billion in assets under management. Driven by an entrepreneurial approach to finance, supported by strong convictions, Edmond de Rothschild Private Equity builds and designs unique investment strategies to provide a long-term response to environmental and social challenges. Founded in 1953, the Edmond de Rothschild Group currently has €158 billion in assets under management as at 31 December 2022, 2,500 employees and 29 offices worldwide.

To find out more about Edmond de Rothschild and EDRPE, please visit www.edmond-de-rothschild.com