As stated on the bank's website, to support the expansion of telecom networks in the Africa region, IFC has agreed to participate in a minority equity investment in Netis together with Amethis Fund II, an IFC investee fund. IFC’s proposed equity investment will total US$12 million for an aggregate 12.9% shareholding.
As stated by the IFC, the General Partner for the Luxembourg-based Fund is Amethis Fund III Management S.à.r.l. The Fund is a SICAR S.C.A. registered under the laws of Luxemburg. The Fund Manager, Amethis Investment Fund Manager S.A, is registered under the Luxembourg Law and authorized and supervised by the Luxembourg Commission de Surveillance du Secteur Financier.
The Netis Group is a service provider for telecom networks, including installation and maintenance services for mobile network operators, telecom tower companies, fiber optics players, and original equipment manufacturers (https://netisgroup.net). The Company doesn’t own any telecom assets and currently provides maintenance services to over 21,000 telecom sites, over 7,000 km of fiber optic cables, and has built over 4,000 mobile telecom sites. Netis operates in Morocco and Sub-Saharan Africa (Ghana, Togo, Uganda, Gabon, Tanzania, Nigeria, Rwanda, Burkina Faso, Ivory Coast, Kenya, Niger, DRC, Ethiopia, and Benin).
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