Amethis Finance Acquires a Minority Stake in CIEL Finance (Sub-Saharan Africa)

Source: Amethis Finance

Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, has acquired a 17.1 percent stake in CIEL Finance, the Mauritius-based banking and financial services division of CIEL Group. Amethis Finance plans to increase its stake to 24.9 percent later in 2015. CIEL Finance intends to use the fresh capital to consolidate and expand its subsidiaries in Sub-Saharan Africa. Financial details of the transaction were not disclosed.