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AfricaMoney | August 23, 2017

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Amethis Finance acquires 17.1% participation in CIEL group financial cluster

Amethis Finance acquires 17.1% participation in CIEL group financial cluster

The extensive experience in investing in Africa by Amethis together with CFL regional presence will enable them to team up with good skills to set their foot print in emerging regions of the world mainly in the financial industry. (Image: cielgroup)

Amethis Finance has taken a 17.1% participation in CIEL Finance Limited (CFL), the Banking & Financial Services cluster of Mauritius-based CIEL group on February 25th, 2015.

The partnership aims to capture more opportunities in the financial industry of the Sub-Sahara Africa and the Indian Ocean.

To further consolidate this partnership, Amethis Finance intends to further increase its participation in CFL to 24.9% during 2015 together with a transfer of CIEL Limited`s participation in BNI Madagascar.

The financial sector of CIEL group constitutes of 50% stake in Bank-One, 55.5% in IPRO, 60.1% in Mauritius International Trust Company Ltd (MITCO) and 50.0% in Kibo Capital Partners.

For Laurent Demey, Managing Partner at Amethis Finance, “Amethis is delighted and proud to have entered into such a long-term partnership with CIEL and his transaction is the first milestone of a successful expansion plan for CIEL Finance, network, expertise and track record in the financial sector in Sub-Saharan Africa will serve the consolidation and expansion of its subsidiaries so as to foster the emergence of a leading pan African financial group.”

Moreover, the Financial Institutions Head at Amethis Finance, Laureen Kouassi-Olsson added that “the sub-Saharan Africa financial sector is key to us and this partnership with CIEL Finance is a testimony of our commitment to support, in the long run, pure African financial players in their expansion within the continent. CIEL Finance and its subsidiaries will benefit from the synergies offered by our portfolio and track record in the African Financial Institutions’ space.”

According to the CIEL Finance’s Chief Executive Officer, Marc-Emmanuel Vives “having Amethis Finance as a shareholder and partner will open new opportunities to our group, by allowing us to accelerate its deployment in sub-Saharan Africa, sharing experiences and best practices between our two platforms, at the same time that it will benefit our clients by giving them access to an extended network of banks and countries”.

Amethis Finance is engaged in promoting investment in the African continent which has growth opportunities and now the company has acquired stake in CIEL Finance Limited (CFL) which is the Banking and Financial Services segment of the CIEL group.

The extensive experience in investing in Africa by Amethis together with CFL regional presence will enable them to team up with good skills to set their foot print in emerging regions of the world mainly in the financial industry.

About CIEL Limited:
CIEL Limited is a leading diversified investment organisation in Mauritius, operating also in Africa and Asia. Since its beginnings in agriculture in 1912, the pioneering group has diversified and is continuously exploring new avenues of development and international expansion.

In January 2014, CIEL was listed on the Official Market of the Stock Exchange of Mauritius, following the merger of one of its investment companies into the group’s holding company. With a financial capitalisation of about Rs 11 billion (USD 367 million), CIEL is one of the largest Mauritian companies in terms of market capitalisation.

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