Amethis makes $19mln investment in Ciel Finance

Amethis Finance is spending approximately $19 million to take a 17.1% stake in Ciel Finance, the newly created banking and financial services arm of Ciel Group, one of Mauritius’s leading diversified family businesses.  According to the press release, the two companies expect Amethis’s stake to increase to 24.1% later in 2015, following the planned transfer of BNI Madagascar from Ciel Group to Ciel Finance.  The partnership allows the two companies to pool best practices and regional relationships to expand Ciel Finance’s footprint in sub-Saharan Africa and the Indian Ocean region.

Read more at AfricaMoney…

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