Amethis sells stake in financial group
Investment firm Amethis recently announced its exit from CIEL Finance Limited, the financial arm of the Mauritius-based CIEL Group.
Amethis invested in CIEL Finance in 2015 to support its development in Madagascar after it acquired BNI, a bank which has since become the leading bank in the country.
Amethis’ exit from CIEL Finance was completed at the end of December via a share buyback financed through a fundraising on the Mauritian market.
The CIEL Group platform also includes Bank One in Mauritius and a trust and fund administration services company called MITCO.
Both banks have seen strong growth in recent years, with Bank One expanding its international banking business in Africa and BNI boosting its number of branches and developing a digital offer for customers.