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Paris-headquartered private equity firm Amethis has made an investment in Zamara Holdings Limited, a Nairobi-based insurance brokerage, pension administration and actuarial services group.
The deal, whose financial terms were not disclosed, is aimed at helping Zamara deepen its digital capabilities, expand its regional footprint and cement its position as the leading financial services platform in Africa.
“Our investment in Zamara reflects a deep conviction in the Group’s leadership, its purpose, and its potential as a pan-African financial services platform. Over the years, we have built a genuine relationship of trust with Sundeep, James, and the wider Zamara team, and we are proud to formalize that partnership at such a pivotal moment in the company’s journey,” said Frank-Astère Ndiyo Butoyi, Partner, Amethis.
He added, “From our teams in Nairobi and across the continent, Amethis is committed to being a close, hands-on partner in Zamara’s next phase, helping strengthen its capabilities, accelerate innovation, and extend its reach as it continues to power financial freedom for businesses and individuals across Africa.”
Amethis, a member of the Edmond de Rothschild Private Equity Partnership, was co-founded by Luc Rigouzzo and Laurent Demey in 2012. As an impact-oriented private equity firm, it provides growth capital to mid-sized companies, pairing funding with support through its international network and a focus on improving portfolio companies’ environmental and social impact.
The firm has raised more than €1.4 billion and completed over fifty investments to date, with focus on financial, environmental and social sustainability across Europe, Africa and the Middle East. Amethis operates from seven offices – Paris, Abidjan, Casablanca, Nairobi, Cairo, Cape Town and Luxembourg – with a team of around 60 professionals.
Founded in 1994 as a specialist actuarial firm and headquartered in Nairobi, Zamara has grown over three decades into an independent, home-grown pan-African financial and insurance solutions group. The firm now provides pensions consulting and administration, insurance brokerage, reinsurance brokerage and actuarial services to corporate, institutional and individual clients.
Its operations span Kenya, Uganda, Tanzania, Rwanda, Nigeria, Malawi, the Democratic Republic of Congo and the United Arab Emirates. The company rebranded from its earlier identity to Zamara in 2017 as it expanded into Nigeria and Rwanda, and has since added offices in Malawi, Tanzania, the DRC and the UAE.
Zamara currently serves more than 3,700 insurance clients and over 190 actuarial clients across the region.
“We are delighted to welcome Amethis as a strategic partner at this important stage of Zamara’s journey. We were looking for more than capital — we wanted a partner that understands Africa, believes in the potential of our business and our people, and shares our ambition to build a leading pan-African financial services group,” said Sundeep Raichura, Group CEO, Zamara Holdings Limited.
“Over the years, our engagement with the Amethis team has demonstrated a strong alignment of values, ambition and long-term vision. Their experience in African markets, networks and commitment to supporting regional champions make them an ideal partner as we accelerate investment in technology and innovation, strengthen our capabilities and broaden the solutions we provide to our clients,” added Raichura.
Zamara sees the partnership with Amethis as a way to meet its long-term ambition of building the leading regional financial services platform on the continent. The company says the investment will help it strengthen strategic partnerships, build a more client-centric operating model, invest further in technology and innovation, and broaden the range of solutions it offers clients across Africa.
