Amethis raises $100mln to support SMEs in North Africa
Tuesday, 31 August 2021 15:21
After the first investment in Morocco’s irrigation sector in March, Amethis Mena Fund II plans new investments in North Africa.
Amethis announced the first closing at $101 million of its fund that targets SMEs in MENA -Amethis Mena Fund II. The operation gathered several private investors and development financial institutions. “AMF II brings a real solution and a deeply entrepreneurial DNA to the development of SMEs, as well as a response to the succession issues that managers encounter,” said Wilfried Poyet, the Fund Leader.
The company plans to invest €5-15mln in SMEs mainly in Morocco, Egypt, Tunisia, and Jordan. This first closing comes five months after Amethis Mena Fund II’s first commitment in a micro-irrigation and solar pumping company in Morocco. The final closing is scheduled for July 2022, with the commitment of several investors.
According to the fund managers, Amethis Mena Fund II targets a region with definite development potential and hopes to help its partners and investors benefit from "identified growth levers" in this region.
Chamberline Moko
Live News
-
Gates Foundation, ADQ Invest $40M in AI for African Education
18:47
-
Egypt’s HealthTech Firm Nice Deer Lands Telecom Egypt as Key Client
18:38
-
Safaricom and Airtel Money Licensed to Facilitate Capital Markets Access in Kenya
18:34
-
Nigeria fintech Clea eases international supplier payments for businesses
17:15
-
Morocco accelerates airport digitalization at Casablanca hub for AFCON 2025
16:12
-
Ghana to roll out e-visa system in Q1 2026
16:00
-
Lomé Commercial Fortnight runs through January 4, 2026
15:38
-
Cameroon positions 650,000 hectares for deforestation-free cocoa under EU rules
13:48
-
Mohamed Simporé named BICEC CEO, Outman Roqdi reassigned within BCP
13:27
-
Cameroon plans scrappage scheme and higher taxes on used car imports
12:50
Fruitful partners with Elsewedy unit to launch processing project in Egypt New facility wil...
Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...
In Africa, the transformation of food systems has become an urgent issue in the face of rapid popula...
Airtel Africa signed a partnership with SpaceX to launch Starlink Direct-to-Cell satellite connect...
Central bank launches project for real-time transfers across banks and mobile wallets System aims...
The Gates Foundation and ADQ launched a four-year initiative to transform education in sub-Saharan Africa using AI and EdTech, with ADQ contributing up...
Nice Deer has partnered with Telecom Egypt to manage healthcare services for over 28,000 employees via its digital insurance platform. The announcement...
Ghana plans to introduce a fully online visa application system in early 2026 The reform aims to speed up processing and simplify entry...
Washington signed health MoUs with four African countries worth about $2.3 billion The US will provide nearly $1.4 billion, with...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...
Palm Hills Developments signs agreement with Marriott International to introduce the St. Regis brand in West Cairo. Project to include a luxury...