Amethis has acquired a minority stake in SIBM, a manufacturer of precast concrete products in Côte d’Ivoire.

Founded in 1952 in Abidjan, SIBM addresses three end markets: electrification, with the manufacturing of concrete electric poles; infrastructure (gutters, nozzles, culverts, paving stones, guardrails, rail sleepers, etc.) and building (hoarding supplies, agglomerates, etc.).

SIBM is a long-standing company that has contributed to numerous first-rate projects in Côte d’Ivoire, from the construction of the Yamoussoukro Basilica to the East Road, and the electrification of thousands of villages. Today, the company has 1,200 employees and eight production sites located near the country’s major business hubs, namely Abidjan, Yamoussoukro, San Pedro, Bouaké, Korhogo and recently Agnibilékro.

Through this investment, Amethis intends to support SIBM in strengthening its national leadership position by upgrading and increasing its production capabilities and diversifying its products across its various business segments.

In addition, Amethis will provide SIBM access to its network and experience in the West African sub-region to trigger and execute its geographic expansion strategy. Furthermore, Amethis will support SIBM’s commitment to improve its environmental and social performance.

Khady Kone-Dicoh, Partner, Amethis, said: “We are proud to support a company which addresses core urbanization issues in Cote d’Ivoire with direct impact on the population’s daily life. As a matter of fact, SIBM is involved in major road projects which improves mobility, but also in water sanitation for a healthy environment as well as in access to energy with the electrification of urban and rural areas.”

“We are honoured to support SIBM’s team, led by a talented Ivorian entrepreneur, Serge Bilé, in its next growth stage and regional expansion. SIBM has experienced remarkable growth over the past five years which is expected to continue driven by Côte d’Ivoire’s National Development Plan, a dynamic construction industry, and regional opportunities.”

This investment represents the sixth transaction of Amethis in Côte d’Ivoire, a country with strong economic growth.

Serge Bilé, CEO and shareholder of SIBM, said: “We are delighted to welcome Amethis alongside us to start the regionalisation of SIBM in West Africa and notably in Senegal. We have reached this level and acquired our technical expertise thanks to our teams of engineers, technicians and all the dedicated and committed staff of SIBM. We have also gained an invaluable experience by serving international and national construction professionals."

"Today, our ambition is to become a regional player in precast concrete in West and Central Africa, Amethis’ investment is timely and will allow us to strengthen our position in Côte d’Ivoire by continuing the modernisation our production capabilities throughout the country, but also to benefit from Amethis’ experience and network of partners to seize development opportunities in the region. In fact, Côte d’Ivoire, like its neighbours, is a fertile ground of opportunities with an infrastructure gap that is being bridged at a fast pace. We want to be main contributors of that.”