Amethis Fund II S.C.A SICAR

Morocco, Mozambique, Mauritius Manufacturing, Food and agriculture, Other consumer services, Construction and real estate

Amethis II will provide growth capital to support companies to become national and regional market-leaders, primarily across francophone Africa and East Africa. In helping these businesses improve their processes, institutionalise and expand regionally, Amethis II will continue to prove the case to other investors for investing in medium sized businesses in Africa.

This investment was made when British International Investment was named CDC Group.

Expected impact

British International Investment's partnership with this fund is intended to play a key role in strengthening local and regional business ecosystems, both by fuelling economic growth and by building the investment fund infrastructure required to enable long term capital mobilisation into the region.

Environmental and social aspects

We continue to support the fund manager in the implementation of its environmental and social management system (ESMS), particularly in managing risks associated with their investment strategy

Key facts


Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.


We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.

Construction and real estate, Food and agriculture, Manufacturing, Other consumer services
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

Intermediated investment
Fund manager:
Amethis Fund II Management
Start date

For direct investments, this is the date British International Investment committed capital to the business or project.

For funds, this is the date that British International Investment committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

May 2018

For direct investments, this is the total amount that British International Investment has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that British International Investment has committed to the fund.


This is the investee company’s place of incorporation; or a fund’s jurisdiction.


Investments made by this fund

  • Active
  • Exited
Investment name Country Region Sector Start date Status
Groupe Premium

Groupe Premium is a leading industrial equipment distributor in Morocco and Western Africa.

View investment details

Morocco Africa, North Africa Manufacturing June 2019 Active
Merec Industries

Merec is a leading miller and packaged food manufacturer in Mozambique with a strong export focus.

View investment details

Mozambique Africa, East Africa Food and agriculture June 2019 Active

The VLH hotel group has seven hotels operating under two brand names, Heritage Resorts and Veranda Resorts, and employs 1450 people.

View investment details

Mauritius Africa, East Africa Construction and real estate September 2019 Active

Naivas is the largest supermarket chain in Kenya, with over 70 outlets.

View investment details

Africa Other consumer services March 2020 Active

We are now British International Investment