Amethis exits to African Infrastructure Investment Managers
Amethis has sold its 22% stake in Sodigaz APC, the leading gas bottle (LPG) distributor in Burkina Faso, to African Infrastructure Investment Managers (AIIM).
Sodigaz APC has a market share exceeding 60% and a unique distribution network of 2,200 gas resellers.
Amethis invested in Sodigaz APC in July 2017 and has since supported the company and its management team, led by Lala Bolly, in strengthening its governance, in its regional expansion, in enlarging its products offer and in the implementation of a solid health and safety policy.
Lala Bolly, CEO at Sodigaz said, “The partnership with Amethis has been an excellent opportunity for Sodigaz to efficiently deploy its strategic vision and bring a higher quality of services to its clients. During these four years of partnership with Amethis, Sodigaz has succeeded to consolidate its leadership in the gas market in Burkina Faso, to diversify its products’ offer with the launch of the solar and achieve its regional expansion with the opening of its subsidiary PROGAZ in Benin.”
Khady Koné-Dicoh, partner at Amethis, stated, “Thanks to our close partnership with Lala Bolly and her team, Sodigaz has experienced a substantial transformation since the initial years of our investment. We are proud of this successful investment in Burkina Faso which confirms our investment focus on resilient and high growth sectors driven by a fast-growing emerging middle class, high-skilled and ambitious management and a joint vision with existing shareholders.”
Patrick Kouamé, investment director at AIIM commented, “Access to clean cooking falls within UN SDG 7 – access to affordable, reliable, sustainable and modern energy for all. We see bottled gas as a vital ‘bridging fuel’ in the long-term transition to a sustainable energy system, and a core part of AIIM’s distributed energy investment strategy, alongside solar home systems. Sodigaz is a local LPG champion, and we look forward working closely with Bolly and her team to expand its operations across West Africa, diversify the product offering and deliver clean fuel to households in the region.”
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