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AfricaMoney | June 27, 2017

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Améthis Finance increases its stake in Mauritius’ CIEL Finance to 24.9%

Améthis Finance increases its stake in Mauritius’ CIEL Finance to 24.9%

Améthis Finance, which acquired a 17.1% stake in February 2015 in CIEL Finance Limited, the banking and financial services cluster of Mauritian group CIEL, has increased its stake by 7.8% as initially planned, thus affirming its long-term commitment towards CIEL Finance, in which it now holds a 24.9 % stake.

Améthis Finance, which had already acquired a 17.1% stake in February 2015 in CIEL Finance Limited, the banking and financial services cluster of the Mauritian group CIEL, has increased its stake by 7.8% as initially planned. This move affirms its trust and long-term commitment to CIEL Finance, in which it now holds a 24.9% stake.

This second transaction – which will allow CIEL Finance to complete the acquisition of CIEL’s interests in BNI Madagascar – is in line with the strategy of Améthis Finance and CIEL Finance to further consolidate their partnership in order to expand their footprint in the Sub Saharan Africa region and the Indian Ocean region.

Both companies aim at capturing further opportunities in the financial industry in the above mentioned emerging regions, which offer huge potential, particularly in banking & financial services. Améthis and CIEL Finance expect to leverage on their shared field of expertise and grasp over best practices, as well as their deep knowledge of the African market to generate additional business openings, either through acquisitions or organic growth related to the financial industry.
Both partners also plan to lean on their respective fields of expertise, as well as on their thorough knowledge of the African market, to leverage on business opportunities in the banking and financial domain, whether it is based on acquisitions or organic growth.

Marc-Emmanuel Vives, CEO of CIEL Finance Ltd, noted: “We are delighted at this long-term partnership with Améthis Finance. It has a solid experience in the banking and financial industry in Africa, basis long-term investments in top-ranked African companies. This second part of the transaction will give us bigger operating margins to expand our presence in the Sub-Saharan and Indian Ocean regions,” he declared.

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