Market News IFC to invest Sh10.4bn in pan-African fund managerIFC investment officer Mwombeki Baregu at an event in Nairobi on September 29, 2022. PHOTO | DIANA NGILA | NMGBy EDNA MWENDAMore by this AuthorThe International Finance Corporation (IFC) is set to invest Sh10.4 billion (€70 million) in Pan-African fund manager Amethis Fund III for onward capital deployment in mid-sized companies in Africa including Kenya. Read: IFC bets big on Kenyan banks“The proposed project is an equity investment of up to €40 million into Amethis Fund III (Fund III or the Fund), a Pan-African private equity (PE) fund, and a €30 million co-investment envelope,” said IFC. The international financier’s equity investment will be invested through the purchase of shares of the fund with expected dividends. The Fund will invest in various sectors including healthcare, non-banking financial institutions & services, business services (including logistics & IT), manufacturing and distribution,” said IFC.

Source: The North Africa Journal April 18, 2023 08:04 UTC