Exhibit 31.1



CERTIFICATION



I, Amir F. Heshmatpour, certify that:



1. I have reviewed this Form 10-Q of AFH
Holding III, Inc. (the “Company”) for the period ended June 30, 2012;



2. Based on my knowledge, this report
does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made,
in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this
report;



3. Based on my knowledge, the financial
statements, and other financial information included in this report, fairly present in all material respects the financial condition,
results of operations and cash flows of the Company as of, and for, the periods present in this report;



4. As the registrant’s Principal
Executive and Financial Officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined
in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules
13a-15(f) and 15d-15(f)) for the Company and I have:



(a) Designed such disclosure controls
and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material
information relating to the Company, including its consolidated subsidiaries, is made known to me by others within those entities,
particularly during the period in which this report is being prepared;



(b) Designed such internal control over
financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles;



(c) Evaluated the effectiveness of the
Company's disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure
controls and procedures, as of the end of the period covered by this report based on such evaluation; and



(d) Disclosed in this report any change
in the Company's internal control over financing reporting that occurred during the Company's most recent fiscal quarter (the
Company's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially
affect, the Company's internal control over financial reporting; and



5. I have disclosed, based on my most
recent evaluation of internal control over financial reporting, to the Company's auditors and the audit committee of the Company's
board of directors (or persons performing the equivalent functions):



(a) All significant deficiencies and material
weaknesses in the design or operation of internal control over financial reporting which are reasonable likely to adversely affect
the Company's ability to record, process, summarize and report financial information; and



(b) Any fraud, whether or not material,
that involved management or other employees who have a significant role in the Company's internal control over financial reporting.



Dated: August 14, 2012





| | /s/
    Amir F. Heshmatpour                 
| | --------------------------------------------
| | Amir F. Heshmatpour                         
| | President, Secretary and Sole Director      
| | (Principal Executive Officer)               
| | (Principal Financial and Accounting officer)