Amethis MENA Fund II, which is exclusively dedicated to North Africa and the Middle East, has announced the signing of a majority investment in Magriser Group, one of the pioneers in the distribution and installation of turnkey micro-irrigation and solar pumping systems in Morocco. This is the first operation of Amethis MENA Fund II, dedicated to the SMEs in the region. The amount invested was not disclosed but the Luxembourg-based Amethis Mena Fund II’s strategy is to commit between €5 to 15 million in high-potential sectors, reported Ecofin Agency. According to the fund manager, thanks to the investment, Magriser will embark on a new growth phase. Currently, Amethis Mena Fund II is planning its first closing.

Source: The North Africa Journal March 26, 2021 15:22 UTC