Source: Amethis - data as of 31/12/2022. The mention of certain investments does not constitute a recommendation to buy or sell the securities of the companies presented.
Asset Management
Amethis
Pan-Africa
Detail of sculpture in the gardens of Château Clarke, Listrac-Médoc
Investment strategy
- Minority and majority investments in medium-sized, high-growth African companies delivering quality goods and services to the African consumer.
- Capitalise on Africa's structural growth (demographic dividend and rapid urbanization favoring the emergence of a middle class) and regionalisation of economies.
- Geographical and sector diversification: target countries that have stable and diversified economic growth. Emphasis on macro sectors that echo African megatrends.
- Ambitious impact strategy focusing on gender equality, quality employment (with a particular emphasis on health coverage), and climate considerations.
Value creation
- Drive organic growth, industrial upgrading and regional expansion through in-depth knowledge of local markets.
- Improving the efficiency of companies’ management.
- Supporting the implementation of ESG standards and an ambitious impact approach to better meet the challenges of the continent’ sustainable development.
- Connecting Africa and Europe by strengthening commercial links and creating of operational synergies.
Investment team
Investment team based locally in Abidjan, Casablanca, Nairobi, and Cairo (other offices in Paris and Luxembourg).
Strong, seasoned and diverse team of 50 professionals and 14 different nationalities.
Target allocation
Target markets: selection of the most diversified African economies.
Targeted sectors: healthcare, services related to infrastructure and energy, non-banking financial services, business services including logistics & IT, manufacturing and distribution (including FMCG and agribusiness).
Case study:
Naivas (Kenya)
Improving quality food supply in Kenya and supporting quality employment
Wine cellars of Château Clarke, Listrac-Médoc
Naivas is one of the largest supermarket chains in Kenya.
With an average basket size of $7, Naivas serves more than 6 million
customers a month. In a country like Kenya, where it is estimated that more
than 16 million Kenyans have limited access to food at all price levels, Naivas
provides an answer to these challenges.
Value creation
During the Amethis investment: total number of outlets increased from 47 to 84 stores, covering 5 new towns in Kenya.
Transition to corporate governance, and implementation of new practices
(IT, reporting, HR, commercial functions, environmental management and
food safety).
Reorganisation of the perimeter around 3 segments - hypermarket,
supermarket, express - in order to rationalise purchasing and the
workforce.
Recruitment of more than 1,700 new employees.
100
Stores across 30+ towns currently
11,000+
Permanent employees
7,000+
suppliers employing tens of thousands of people