Qalaa Holdings Scholarship Foundation Celebrates Successful and Influential Scholarship

The Qalaa Holdings Scholarship Foundation (QHSF), Egypt’s largest private sector funded scholarship program, celebrated the impact of its scholarship program by honoring its most successful and influential students over the past 17 years. The Foundation also announced that it is accepting a new class of Master’s scholarship recipients for the 2023-2024 academic year. Additionally, the Egyptian Refining Company (ERC), Qalaa Holdings’ largest investment arm, will offer scholarships for the sixth year to residents of the project’s surrounding areas.

Qalaa Founder Ahmed Heikal discusses launch of the Egyptian Refining Company (ERC) with Amr Adib

Chairman Ahmed Heikal speaks to Al-Hekaya’s Amr Adib to discuss the launch of the Egyptian Refining Company (ERC).

Ala Masoulity’s Ahmed Moussa discusses Qalaa’s Egyptian Refining Company (ERC)

Ahmed Moussa discusses Qalaa Holdings’ Egyptian Refining Company (ERC) and its positive impact on the surrounding area.

Qalaa Chairman Ahmed Heikal explains the Egyptian Refining Company (ERC) to El Hayah’s Lobna Assal

Founder Ahmed Heikal discusses the importance and nature of Egyptian Refining Company (ERC) with El Hayah El Youm’s Lobna Assal.

Founder and Chairman Ahmed Heikal examines the positive repercussions of the Egyptian Refining Company (ERC)

Qalaa’s founder examined the Egyptian Refining Company's (ERC) positive impact on the economy through saving foreign currency and job creation.

Qalaa Chairman recounts the history of the Egyptian Refining Company (ERC)

Ahmed Heikal talks to 90 Minutes about the significant challenges that faced the Egyptian Refining Company (ERC) , including a global economic crises and the Covid-19 pandemic.

Mehwar’s Osama Kamal praises Ahmed Heikal’s efforts to complete the Egyptian Refining Company (ERC) project

Osama Kamal discussed the many obstacles that hindered the completion of the Mostorod project over several years.

Sada El Balad speaks to Chairman Ahmed Heikal about the launch of the Egyptian Refining Company (ERC)

Qalaa Chairman Ahmed Heikal highlights the economic benefits of the Egyptian Refining Company (ERC) project.

President El Sisi praises Chairman Ahmed Heikal’s Egyptian Refining Company (ERC)project

President El Sisi praised Qalaa Chairman Ahmed Heikal for his efforts to benefit the Egyptian economy.

Ahmed Heikal reveals the Egyptian Refining Company (ERC) project took 14 years to complete

Chairman Ahmed Heikal recounted the lengthy 14-year process of the Egyptian Refining Company project, which faced several delays.

Qalaa founder Ahmed Heikal speaks from the launch ceremony of the Egyptian Refining Company (ERC)

Chairman Ahmed Heikal discussed the numerous challenges that faced the Egyptian Refining Company (ERC) project over 14 years, including the 25 January revolution.

The Egyptian Refining Company (March 2020) – A Qalaa Holdings Subsidiary

The Egyptian Refining Company (March 2020) – A Qalaa Holdings Subsidiary

Qalaa Chairman discusses with Amr Adib the Egyptian and global economy post covid

Chairman and Founder of Qalaa Holdings Ahmed Heikal discusses the outlook for the Egyptian and global economy post-covid with Al-Hekaya’s Amr Adib

Qalaa's Founder Ahmed Heikal expresses resolve that Egypt will survive the Coronavirus pandemic.

Qalaa Holdings participates in Egyptian Ministry of Planning initiative "Masr Hat3ady" pledging to keep workforce intact and create new job opportunities during the Coronavirus pandemic.

Qalaa Chairman and Founder Examines the world economy post corona

Dr. Ahmed Heikal, Qalaa Holdings Chairman and Founder sat with Al-Arabiya to examine the impact of COVID-19 on world economies and how they will look post crisis with emphasis on the importance of education and sustainable activities.

Qalaa Chairman and Founder Discusses Economic Impact of the Coronavirus

Chairman and Founder of Qalaa Holdings Ahmed Heikal discussed the economic impact of the novel Coronavirus with Yahduth Fi Masr’s Sherif Amer, highlighting the Group’s effort to strike the delicate balance between maintaining business continuity while ensuring the safety of the Group’s employees, and the measures taken to safekeep their health.

The Egyptian Refining Company (Long) – A Qalaa Holdings Subsidiary - Film Date: October 2018

The Egyptian Refining Company (Long) – A Qalaa Holdings Subsidiary - Film Date: October 2018

The Egyptian Refining Company (Short) – A Qalaa Holdings Subsidiary - Film Date: October 2018

The Egyptian Refining Company (Short) – A Qalaa Holdings Subsidiary - Film Date: October 2018

Qalaa Holdings Chairman and Founder Ahmed Heikal on CNBC Arabia at Davos

Qalaa Holdings Chairman and Founder Ahmed Heikal on CNBC Arabia at Davos

Qalaa Founder and Chairman Discusses Investment in Africa at WEF

Founder and Chairman of Qalaa Holdings Ahmed Heikal sat down with CNBC during the World Economic Forum in Davos to discuss African investment opportunities. While the West has not missed the boat on investment prospects, the jury still out on the Chinese investment model in the continent, he said. He added that the Chinese model, which results in the conversion of the debt owed by the government into an equity stake, may pose issues for Chinese investment in the host country.

Qalaa Co-founder and Managing Director Discusses Divestment Program at WEF

Qalaa Holdings Co-founder and Managing Director Hisham El Khazindar talked to CNBC Arabia on the sidelines of the World Economic Forum in Davos about Qalaa’s efforts to streamline its investment platform. El Khazindar outlined plans to increase its stake in ERC by acquiring part of Qatar Petroleum’s holdings in the project. He affirmed that the firm’s divestiture program initiated in 2015 is almost complete with only two to three remaining exits left to be carried out over 2019 and 2020.

Ahmed Heikal Presents Landmark ERC Case Study at Africa Investment Forum in Johannesburg South Africa

Ahmed Heikal, Chairman and Founder of Qalaa Holdings presented global and regional delegates at the African Development Bank’s “Africa Investment Forum” with lessons learned from Qalaa’s 12-year journey to develop the US$ 4.3 bn Egyptian Refining Company (ERC), Egypt's largest infrastructure mega-project. Heikal spoke as part of a high-level panel that included H.E. Dr. Sahar Nasr, Egypt’s Minister of Investment and International Cooperation. Currently in the final stages of technical testing, ERC is well on its way to starting full-scale commercial production in 2019.

The Egyptian Refining Company – A Qalaa Holdings Subsidiary

The Egyptian Refining Company – A Qalaa Holdings Subsidiary

Qalaa Holdings Chairman discusses ERC project, Taqa IPO plan

Qalaa Founder and Chairman Dr. Ahmed Heikal sat with Bloomberg to discuss Qalaa Holdings’ performance as the best performing stock in Egypt despite emerging markets turbulence as well as Egypt’s extensive economic reform program. Dr. Heikal affirmed that construction on ERC is 98% complete and should conclude within a month and a half. He anticipates the project will become operational in May 2019 and hit maximum production capacity by 2020, with the magnitude of orders from the refinery during the second half of is expected to boost top line growth for Qalaa.

Egypt's top stock set to renew gains as refinery boost nears

Qalaa Holdings’ efforts to divest noncore activities have bared fruit as the group stock surged 139% in 2018, versus a drop of 2.6% for Egypt’s benchmark EGX 30 index to date. The success was set against the backdrop of recent legal challenges and economic reforms. The company posted a 2Q18 profit of c.EGP 487 million compared to a loss of c.EGP 2.8 billion a year earlier. Revenues rose 39% to EGP 3.1 billion on the back of the deconsolidation of operational liabilities from Africa Railways.

Get to know the biggest private sector greenfield refinery in Egypt

Construction on ERC’s new greenfield refinery project in Cairo is 98% complete, reported CNN Arabia. At a project cost of up to USD 4.3 billion, it is considered the biggest private sector project in Egypt. The facility is expected to produce as much as 4.2 million tons of high quality fuel products at full capacity including Euro V diesel, Jet fuel and Octane 98 fuel.

Some 98% of construction work completed on USD 4.3 billion ERC refinery project

With 98% of construction work completed, ERC has begun experimental operations on several systems within the refinery including the filtration, cooling, and fire extinguishing systems. Production is expected to commence in the second half of 2019 with maximum operational capacity reached by 2020. The refinery is expected to reduce Egypt’s diesel imports by 40% and slash sulfur dioxide emissions by around 30%.

Qalaa outlines strategy to divest noncore assets starting 2015

Since 2015, Qalaa Holdings’ divestiture of noncore assets helped to further streamline the group’s business activities and shift focus toward the group’s energy and logistics sectors of the group, Mr. Hisham El-Khazindar, Cofounder and Managing Director of Qalaa Holdings, told to Al-Arabiya on the sidelines of EFG Hermes’ annual London conference. The divestiture has contributed significantly to unwinding the group’s debt with an eventual target of repaying remaining debt through future cash flows from current investment activities.

Qalaa Holding Chairman and Founder Ahmed Heikal participates in Hona Alshabab competition for entrepreneurs

Dr. Ahmed Heikal, Founder and Chairman of the Board of Directors of Qalaa Holding, participates in Hona Alshabab competition for entrepreneurs at CBC with Lamis El-Hadidy to support entrepreneurs and invest in Egyptian startups, in addition to highlighting the role of entrepreneurship and microfinance initiatives in advancing economic development in Egypt

Qalaa Holding Chairman and Founder Ahmed Heikal talks about Oil and Gas investments in Egypt and latest developments with ERC project

Egypt will become a hub for gas and energy exports in the Middle East, and Qalaa Holding will play a key role in this! Qalaa Holding Chairman and Founder Ahmed Heikal speaks to CNBC about the impact of economic reforms in Egypt, the rapidly approaching launch of the USD 4.2 billion Egyptian Refining Company, and the anticipated growth expected once the project is online.

Qalaa Holding Chairman and Founder Ahmed Heikal talks about foreign direct investment in the African continent

How is Africa changing and what does this mean for investment on the continent? Qalaa Holding Chairman and Founder Ahmed Heikal talks to CNBC about signs that the continent is ready for more investments, his top picks from Morocco to Sudan, and the potential for Chinese investors to crowd out investors from other countries.

Qalaa Co-Founder and Managing Director Hisham El-Khazindar Talks About the Startup Scene in Egypt

Qalaa Co-Founder and Managing Director Hisham El-Khazindar Talks About the Startup Scene in Egypt

Qalaa Chairman and Founder Ahmed Heikal Makes Guest Appearance on Mahmoud Saad's "Bab El Khalk"

Qalaa Chairman and Founder Ahmed Heikal Makes Guest Appearance on Mahmoud Saad's "Bab El Khalk"

Qalaa Chairman and Founder, Ahmed Heikal delivers positive message on Egypt in CNBC Davos interview

Qalaa Chairman and Founder, Ahmed Heikal delivers positive message on Egypt in CNBC Davos interview

Ahmed Heikal participates in a dialogue entitled 'Shaping the Future of Energy' on the sidelines of the World Economic Forum in Davos

Ahmed Heikal joined a discussion session hosted by CNBC Europe entitled 'The Future of Energy' that presented the developments of the investment scene and highlighted the obstacles to investment. The session also included discussions of the reforms required to enhance the energy sector, along with the exchange of insights on the role technology plays in achieving the desired boost in the energy sector. Members also covered the responsibility of the public and private sectors to modernize and develop the infrastructure and mechanisms required to expand the field of sustainable energy. The dialogue included the participation of Michael Oppenheimer, a political science professor at Princeton University, and a member of the Intergovernmental Panel on Climate Change (IPPC), along with Fahed Ibn Abdul Mohsin Rasheed, Managing Director and CEO of the King Abdullah Economic City, as well as other prominent figures.

The successful solid waste management model in Cairo run by ECARU

Al Qahera Wal Nas covered the 15th of May solid waste management operation, run by the Qalaa Holdings subsidiary ECARU. The news piece portrayed a step by step description of how the entire operation works. Waste is gathered from 13 neighborhoods in southern Cairo daily, which is equivalent to approximately 2500 to 3500 tons of solid waste. It is then organized and classified to produce both energy alternatives and three different types of compost used for agricultural purposes. Due to its success, the model has been implemented in 8 foreign countries, and has made Egypt the first in the Middle East and Africa when it comes to the production of solid waste into an alternative for energy. The project, inaugurated in 2001 in partnership with the government, has investments worth approximately EGP 100 million.

Ahmed Heikal optimistic about the future, says reforms are long overdue

Qalaa Holdings Chairman Ahmed Heikal was optimistic about the future in an appearance last night with Lamees El Hadidy on CBC’s Hona Al Assema. He added that government’s reform program is long overdue and essential to sustainable growth and development.

Export industries relying on foreign currency are able to cope with economic pressures- Ahmed Heikal

Speaking on the sidelines of the World Economic Forum in Davos, Dr. Ahmed Heikal, Chairman and Founder of Qalaa Holdings, said that export industries of value added products using foreign currency are those capable of facing the difficult economic conditions in the Arab region in the years to come.

Two solar power plants in Egypt- Ahmed Heikal

Dr. Ahmed Heikal, Chairman and Founder of Qalaa Holdings, said in an interview with Sky News Arabia on the sidelines of the World Economic Forum in Davos that the company is continuing to expand its projects and subsidiaries. He pointed out that there is on-going work on the implementation of two solar power plants in Egypt.

In an interview with Lamees El Hadidy, Qalaa Chairman and Founder, Ahmed Heikal discussed the current state of the Egyptian economy.

In an interview with Lamees El Hadidy, Qalaa Chairman and Founder, Ahmed Heikal discussed the current state of the Egyptian economy.

Dr. Ahmed Heikal's speech during "Mostakbali" scholarship program launch

While attending the “My Future” scholarship program, Chairman and Founder of Qalaa Holdings Ahmed Heikal said that advancement can not be attained without the progression of agriculture and industries as well as making new investments in fields such as energy.

Ahmed Heikal talks about his father, veteran journalist Mohamed Hassanein Heikal

Mona El Shazly interviews Dr. Ahmed Heikal, Qalaa Holdings chairman, on her show “Maakom”, where he talks about his late father veteran journalist Mohamed Hassanein Heikal.

Davos 2016: The future of economic reforms in the Arab world

On the sidelines of the World Economic Forum in Davos, Chairman and Founder of Qalaa Holdings, Ahmed Heikal, said during a discussion session on the future of economic reform in the Arab world that the change in global energy prices provides a great economic opportunity that will create numerous jobs within the Arab region.

Sherif Amer talks to Dr. Ahmed Heikal on the construction site of ERC in Mostorod

Sherif Amer talks to Qalaa Holdings Chairman and Founder, Ahmed Heikal on the construction site of the Egyptian Refining Company (ERC) in Mostorod. Heikal explains the importance of this vital mega project due to launch in 2017.

Sherif Amer talks to Qalaa Holdings Chairman and Founder, Ahmed Heikal on the construction site of the Egyptian Refining Company in Mostorod.

Sherif Amer talks to Qalaa Holdings Chairman and Founder, Ahmed Heikal on the construction site of the Egyptian Refining Company (ERC) in Mostorod. Heikal explains the importance of this vital infrastructure mega project due to launch in 2017.

Ahmed Heikal keynote speech during COMESA’s Africa 2016 Investment Forum, “Business for Africa, Egypt and the World”

Ahmed Heikal delivers opening keynote on “the Dream of African Infrastructure” at COMESA’s Africa 2016 Investment Forum, “Business for Africa, Egypt and the World” held under the patronage of Egyptian President Abdelfattah El-Sisi.

Heikal: Qalaa Holdings’ investments in Egypt total EGP 7 bn

Qalaa Holdings founder and Chairman Ahmad Heikal said that his company’s investments in the Egyptian economy worth nearly EGP 7 bn and represent nearly 80% of QH’s total investments.

Qalaa Holdings aims to reduce its debt to USD 200 million within 6 months- Ahmed Heikal

In an interview with Sky News Arabia on the sidelines of the World Economic Forum in Davos, Qalaa Holdings' Chairman and Founder, Ahmed Heikal, said that the company aims to reduce its debt to USD 200 million within six months.

Ahmed Heikal’s interview on Akher Al Nahar (Part I)

Qalaa Holdings Chairman and Founder Ahmed Heikal conducted an interview with Mahmoud Saad on Akher Al Nahar. He discusses a wide array of issues ranging from energy subsidy reform to Arab economic assistance.

Ahmed Heikal’s interview on Akher Al Nahar (Part II)

Qalaa Holdings Chairman and Founder Ahmed Heikal conducted an interview with Mahmoud Saad on Akher Al Nahar. He discusses a wide array of issues ranging from energy subsidy reform to Arab economic assistance.

Qalaa Holdings To Generate $3 Billion In Revenue From Egyptian Refining Company (ERC) By 2017

Ijeoma Ndukwe of BloombergTVAfrica interviews Qalaa Holdings Chairman and Founder Ahmed Heikal regarding the Egyptian Refining Company (ERC). Qalaa Holdings expects that ERC should start generating revenue of USD 3 bn by the second-quarter of 2017 at current oil prices. The group last week also announced plans to sell its food businesses later this year in order to raise more than USD 200 mn.

Qalaa Holdings’ Co-Founder and Managing Director Hisham El-Khazindar live on CNBC Arabia’s El-Bosla (Part I)

Qalaa Holdings’ Hisham El-Khazindar outlines to CNBC Arabia’s El Borsa the reasons behind the company’s most recent capital increase to EGP 9.7 billion and its execution mechanism. QH’s Co-Founder and Managing Director also recalled the company’s 2014 capital increase from EGP 4.8 billion to EGP 8 billion by way of capitalizing liabilities resultant from the purchase of additional shares in core subsidiaries.

Qalaa Co-Founder and Managing Director Hisham El-Khazindar live on CNBC Arabia’s El-Bosla (Part II)

QH’s Co-Founder and Managing Director Hisham El-Khazindar discusses the ongoing strategic transformation into a holding company and the related use of proceeds from upcoming divestitures from select non-core assets, as well as the estimated earnings for FY14 and projections for FY15.

Qalaa Holdings searches for Ethiopian gold

Qalaa Holdings Chairman and Founder Dr. Ahmed Heikal, said in an interview with CNBC Arabia on the sidelines of the World Economic Forum in Davos that the company is working on four projects in Africa, including Mombasa-Kampala railway, in addition to a gold mining project in Ethiopia.

Qalaa Holdings searches for Ethiopian gold

Qalaa Holdings Chairman and Founder Dr. Ahmed Heikal, said he expects imports of natural gas to rise over in the near future in order to capitalize on lower fuel prices, adding that Qalaa Holdings will increase the amount of gas it distributes. Heikal also said he expects company revenues to reach EGP 1.1 billion, up from EGP 650 million last year. In an interview with CNBC Arabia, Heikal explained that Qalaa Holdings exited from oil exploration and production 4-years ago, vowing not to return to E&P operations. The Chairman of Qalaa Holdings, who is attending the World Economic Forum in Davos, said he is not attending the global event to make sales or get funding, but rather, to get an idea about future trends and to connect with the leaders of global companies. He also discussed the company’s projects in Africa, saying Qalaa Holdings owns the Mombasa-Kampala railway, which will help transport oil produced in Uganda and Kenya. Additionally, the company’s ASCOM subsidiary is involved in a gold mining project in Ethiopia.

Global Business 13th January 2015

Qalaa Holdings Managing Director Karim Sadek discusses Qalaa Holdings investments in Africa and the transformation from a private equity firm into an investment company with a focus on five core businesses. Sadek also discusses how Qalaa Holdings coped with the global financial crisis in 2008, the Egyptian Revolution of 2011 and increasing competing investments in Africa.

Egypt’s economic crisis

Qalaa Holdings managing director Amr El-Garhy appeared on Ibrahim Eissa’s television show yesterday, during which he commented on a variety of issues including the global and domestic implications of declining oil prices. “For Egypt as a net importer of oil, the reduction in price means that the government’s subsidy bill is going down. I think we can expect to see prices go down in the coming months,” said El Garhy. El-Garhy also said that Egypt “must decide who we are as a country. Are we a free market economy that is pursuing private sector-led growth? This identity has to be reinforced and maintained regardless of any changes in government,” he said. “The state is currently playing a large role when they should be playing the role of regulator, not manager or investor,” added Al-Garhy.

Access: Africa - Interview with Ahmed Heikal

Access: Africa - Interview with Ahmed Heikal, Chairman and Founder of Qalaa Holdings Previously only available in short segments, the full interview of Chairman and Founder Ahmed Heikal is online at CNBC International Access: Africa's website and their YouTube channel. The wide-ranging interview includes the rationale for the restructuring into an investment company, and the growth story in Africa, among other topics.

Qalaa’s New Structure is ‘the Right Strategy’: Founder

The 3:31 minute segment begins with a voiceover narration explaining that Citadel Capital is now Qalaa Holdings, and that the company is going through a restructuring by selling off non-core assets and focusing on its five core sectors in order to become a long-term investment company. The segment then shifts to the interview with Dr. Heikal, where he explains the reason for the restructuring being that the assets held by the company need to be held for longer periods in order to realize their full potential. With regard to operating in East Africa, Dr. Heikal notes that Qalaa Holdings brings capital and experience to the region, both of which are in scarce supply.

Why Qalaa is Selling Non-Core Assets

The interview continues with Dr. Heikal identifying other players in Africa, including sovereign wealth funds, as well as Qalaa's strategy with regard to funds earned from the exit of non-core assets - namely putting that money back intoQalaa's five core sectors: agrifoods, logistics & transportation, mining, cement and energy - plus micro finance. Dr. Heikal identified energy and infrastructure as his most important plays.

Africa Has a 'Very Welcoming Attitude': Qalaa Founder

In response to a question about how accepting African governments have been in working with an Egyptian firm, Dr. Heikal replies that by and large, most countries they have worked with have been very welcoming. When asked about his 10-year outlook on Africa, Dr. Heikal replies that first, several factors should be examined. The first two, demographics and resources, he states these have always been positive. He goes on to say that the real game-changer is improving governance in Africa.

Where Should You Invest in Africa?

Some African countries are "extremely interesting" says Ahmed Heikal, Chairman and Founder of Qalaa Holdings. He also explains how Qalaa deals with corruption, violence and Ebola.

Investing in Africa: Managing the Risks

Ahmed Heikal, chairman and founder of Qalaa Holdings, outlines what the risks are when investing in Africa which stretch from the political landscape to the financial sector.

Can Africa Have a Continental Railway System?

Ahmed Heikal, chairman and founder of Qalaa Holdings, comments on the valuation of African assets on building a "connected Africa."

Suez canal 'important' global asset: Qalaa Holdings

Ahmed Heikal, chairman of Qalaa Holdings, one of the companies taking part in the expansion of the Suez Canal, says the project will be delivered on time.

Heikal speaks about Qalaa’s exit from Sphinx Glass

Qalaa Holdings Chairman and Founder Dr. Ahmed Heikal, spoke to CBC Extra TV Channel about Sphinx Glass deal, a transaction worth EGP1.3billion (USD 180 million).

Salon Al-Tahrir: A special episode on Egypt’s economy

Al-Tahrir channel hosted an extensive interview tackling Egypt’s economy on the program “Salon Al-Tahrir,” with Qalaa Holdings Chairman and founder Ahmed Heikal who tackled issues concerning Egypt’s healing economy as well as the challenges faced by the private sector.

Heikal Appears on “Economic Personalities” Show

Qalaa Holdings Founder and Chairman Ahmed Heikal appeared on Al Arabiya’s “Economic Personalities” show, during which he spoke about his background and experience.

Qalaa's new structure is 'the right strategy': Founder

Originally a private equity group, Qalaa is now an investment holding company. Ahmed Heikal, chairman and founder of Qalaa Holdings comments on the transformation.

25/30: Ahmed Heikal’s Recipe for Saving the Egyptian Economy

Ahmed Heikal was a guest on Ibrahim Eissa’s show 25/30 during which he spoke about Egypt’s economic situation and his recipe for an economic recovery.

Africa's economic outlook

Founder and Chairman Ahmed Heikal looks at the political and economic outlook for Nigeria and Egypt.

Video: Lamees El Hadidy: Economic Challenges that Face Egypt’s Next President

Citadel Capital Founder and Chairman Dr. Ahmed Heikal was a guest on Lamees El-Hadidi’s show “Here is the Capital.” During the interview, Dr. Heikal covered a wide range of issues, including Egypt’s energy policy, the management of water resources, and subsidies. Dr. Heikal bemoaned the fact that Egypt’s foreign policy neglected Africa for several decades, adding that he feared that countries such as Uganda will follow in Ethiopia’s footsteps in building more dams along the River Nile. According to Dr. Heikal, Egypt is approaching a period during which water will be rationed and priced to reflect scarcity. Regarding the country’s energy crisis, Dr. Heikal explained that Egypt needs to rely on alternative sources of energy such as coal, adding that fuel shortages have led to a debt of EGP 2.5 trillion. Dr. Heikal recommended reforming Egypt’s inefficient subsidy system, explaining that direct cash subsidies for eligible citizens over the age of 21 would be a much more efficient system.

Video: Euronews Interview with Ahmed Heikal

Isabelle Kumar, Euronews, interviews Ahmed Heikal, Founder and Chairman of Citadel Capital, during the 5th EU-Africa Business Forum in Brussels, on March 31st 2014.

Video: Private Equity in Africa’s Transport Sector

A subsidiary of Citadel Capital, Africa Railways is the lead investor in a deal that has seen it purchase a 34% equity stake in Rift Valley Rail from Safari Rail Company. For a closer look at private equity in Africa's transport sector, CNBC Africa interviewed Karim Sadek, MD of Transport & Logistics at Citadel Capital.

Ahmed Heikal is Lamis El-Hadidi’s Guest on “Hona Al Assema” Show

Qalaa Holdings Founder and CEO Dr. Ahmed Heikal appeared on “Here the Capital” show, hosted by Lamis El-Hadidi on the CBC channel. Dr. Heikal discussed the economic challenges faced by Egypt’s next president, as well as the energy crisis and policies for sustainable economic development.

Video: El-Khazindar: Citadel Capital’s Investment Reach US$ 7 Billion

Citadel Capital Co-Founder and Managing Director Hisham El-Khazindar, revealed that the company’s investments in Egypt amount to US$ 7 billion in a variety of heavy industry and infrastructure sectors, employing up to 40 thousand workers. In an interview with Khairy Ramadan, El-Khazindar explained that Citadel Capital’s new US$ 3.7 billion refining project will help resolve the energy crisis, adding that the government’s Petroleum Authority owns 25% of the project. He also emphasized that increasing Egypt’s per capita income from US$ 2,000 to US$ 10,000 annually is not very difficult given the country’s unique geographical location, natural resources and labor pool.

Video: Egypt After 20 Years, Hisham El-Khazindar at AUC

In a speech at the American University in Cairo (AUC), Co-Founder and Managing Director Hisham El-Khazindar urged Egyptians to shrug-off pessimism about current events and become more optimistic about their country's future. El-Khazindar pointed out that many countries such as Turkey have gone through more difficult periods than Egypt is in today. However, with hard-work and determination, these countries have transformed themselves in the past two decades to become economic powerhouses, saying he is certain Egypt will do the same.

Video: Investing in Egypt’s Oil Refineries

Citadel Capital Chairman and Founder Ahmed Heikal briefed Bloombeg [sic] News’ Gavin Serkin on the company’s investments with a particular focus on the Egyptian Refining Company and investments in the energy sector.

Video: Bloomberg Africa Interview with Ahmed Heikal

In a Bloomberg TV Africa, Citadel Capital Founder and Chairman Ahmed Heikal discussed Egypt’s political situation, explaining the reasons behind the removal of Islamist President Mohamed Morsi. Additionally, Heikal expressed the need to re-integrate peaceful members of the Muslim Brotherhood into the political process. He also said Egypt’s leadership needs fresh new faces. Heikal also talked about Citadel Capital’s transformation from a private equity firm into an investment holding company with a focus on five core industries.

Video: Egypt Needs ‘New Blood’ in Power: Citadel Capital Ahmed Heikal)

In an a video interview with CNBC, Dr. Ahmed Heikal, Chairman and Founder of Citadel Capital, says the Egypt is in need of younger and more progressive politicians in order to get back on track.

Ahmed Heikal suggests that direct investments will create a more balanced Egyptian economy

Dr. Ahmed Heikal, Chairman and Founder of Qalaa Holdings, said in an interview with CNBC Arabia, on the sidelines of the World Economic Forum in Davos, that direct investment projects will work towards achieving the desired balance of the Egyptian economy.

Video: Ahmed Heikal Talks Egyptian Referendum

Citadel Capital Co-Founder and Chairman Ahmed Heikal puts his support behind the draft constitution, saying that ratification of this document is an important step towards stability and the rule of law in Egypt. Dr. Heikal said the charter sets new precedents for the protection of minorities and basic human rights and that he looks forward to its ratification. He also contextually framed the referendum as a vote of approval for the removal of Mohamed Morsi from office last July. When asked about the negative aspects of the constitution, Dr. Heikal likened this period in Egypt’s history to difficult times in US history, when a nation is under attack is forced to make tough decisions in order to maintain peace and security.

Dina Farms reveals local market expansion plans and growth targets for the  coming period

Ahmed Heikal: The company’s investments have reached around EGP 330 million

Ghada Hammouda: Qalaa Holdings Keen to Participate in Sustainable Development Plans

Ghada Hammouda, Chief Sustainability and Marketing Officer of Qalaa Holdings, said: “The participation of the private sector and civil society in sustainable development plans is a necessity, especially in light of the current crises

Qalaa Holdings Scholarship Foundation Celebrates Impact of Scholarship Alumni in various sectors in Egypt and Announces New Class of 2023-2024

The Qalaa Holdings Scholarship Foundation (QHSF), Egypt’s largest private sector funded scholarship program, celebrated the impact of its scholarship program by honoring its most successful and influential students over the past 17 years. The Foundation also announced that it is accepting a new class of Master’s scholarship recipients for the 2023-2024 academic year. Additionally, the Egyptian Refining Company (ERC), Qalaa Holdings’ largest investment arm, will offer scholarships for the sixth year to residents of the project’s surrounding areas. 

Qalaa Holdings Scholarship Foundation Celebrates Successful and Influential Scholarship

The Qalaa Holdings Scholarship Foundation (QHSF), Egypt’s largest private sector funded scholarship program, celebrated the impact of its scholarship program by honoring its most successful and influential students over the past 17 years. The Foundation also announced that it is accepting a new class of Master’s scholarship recipients for the 2023-2024 academic year. Additionally, the Egyptian Refining Company (ERC), Qalaa Holdings’ largest investment arm, will offer scholarships for the sixth year to residents of the project’s surrounding areas.      

Qalaa Holdings Scholarship Foundation Celebrates Impact of Scholarship Alumni in various sectors in Egypt and Announces New Class of 2023-2024

The Qalaa Holdings Scholarship Foundation (QHSF), Egypt’s largest private sector funded scholarship program, celebrated the impact of its scholarship program by honoring its most successful and influential students over the past 17 years. The Foundation also announced that it is accepting a new class of Master’s scholarship recipients for the 2023-2024 academic year. Additionally, the Egyptian Refining Company (ERC), Qalaa Holdings’ largest investment arm, will offer scholarships for the sixth year to residents of the project’s surrounding areas. 

In Presence of Minister of International Cooperation, Dr. Rania Al-Mashat Qalaa Holdings Scholarship Foundation Celebrates Impact of Scholarship Alumni in various sectors in Egypt

The Qalaa Holdings Scholarship Foundation (QHSF), Egypt’s largest private sector funded scholarship program, celebrated the impact of its scholarship program by honoring its most successful and influential students over the past 17 years. The Foundation also announced that it is accepting a new class of Master’s scholarship recipients for the 2023-2024 academic year. Additionally, the Egyptian Refining Company (ERC), Qalaa Holdings’ largest investment arm, will offer scholarships for the sixth year to residents of the project’s surrounding areas. 

Qalaa Holdings Scholarship Foundation Celebrates Successful and Influential Scholarship Recipients

The Qalaa Holdings Scholarship Foundation (QHSF), Egypt’s largest private sector funded scholarship program, celebrated the impact of its scholarship program by honoring its most successful and influential students over the past 17 years. The Foundation also announced that it is accepting a new class of Master’s scholarship recipients for the 2023-2024 academic year. Additionally, the Egyptian Refining Company (ERC), Qalaa Holdings’ largest investment arm, will offer scholarships for the sixth year to residents of the project’s surrounding areas. 

In Presence of Minister of International Cooperation, Dr. Rania Al-Mashat Qalaa Holdings Scholarship Foundation Celebrates Impact of Scholarship Alumni in various sectors in Egypt

The Qalaa Holdings Scholarship Foundation (QHSF), Egypt’s largest private sector funded scholarship program, celebrated the impact of its scholarship program by honoring its most successful and influential students over the past 17 years. The Foundation also announced that it is accepting a new class of Master’s scholarship recipients for the 2023-2024 academic year. Additionally, the Egyptian Refining Company (ERC), Qalaa Holdings’ largest investment arm, will offer scholarships for the sixth year to residents of the project’s surrounding areas. 

Qalaa Holdings Scholarship Foundation Celebrates Impact of Scholarship Alumni in various sectors in Egypt and Announces New Class of 2023-2024

The Qalaa Holdings Scholarship Foundation (QHSF), Egypt’s largest private sector funded scholarship program, celebrated the impact of its scholarship program by honoring its most successful and influential students over the past 17 years. The Foundation also announced that it is accepting a new class of Master’s scholarship recipients for the 2023-2024 academic year. Additionally, the Egyptian Refining Company (ERC), Qalaa Holdings’ largest investment arm, will offer scholarships for the sixth year to residents of the project’s surrounding areas. 

Egyptian Refining Company unlocks industrial potential and uplifts communities

Eyes glued to screens and flashing lights in the control room, Mohamed Said Amer, a 32-year-old operations field engineer at the Egyptian Refining Company (ERC), a greenfield petroleum refinery, reflects on the path that led him to achieve his professional and personal goals.

Qalaa Holdings plans to float eight firms on EGX

Qalaa Holdings Invites Shareholders to Site Visits

Qala Holdings has extended its shareholders an invitation to visit the company’s subsidiaries including the Egyptian Refining Company and Dina Farms on 10 April 2017.

New Suez Canal a new artery for Egyptian life, says Qalaa Holdings

The New Suez Canal project will tackle several problems faced by the Egyptian economy, says Qalaa Holdings President Ahmed Heikal, the most notable of which are a lack of foreign currency revenues, a rising budget deficit, and unemployment. Mashreq, a Qalaa Holdings subsidiary, signed a 25-year concession contract, with the possibility for a 5-year extension to build a one-of-a-kind fuel bunkering facility and other logistical service in Egypt in the East Port Said port. The project is located over an area of 210,000 m2 strategically near the entrance of the Suez canal, and presents an example of government efforts and the patriotic private sector’s resources and experience going into turning the Suez Canal into an international services and logistical zone to utilize the traffic going through the canal.

Ahmed Heikal: EGP 1.3 billion investments in Dina Farms in Egypt

He noted that revenues reached around EGP 1.4 billion during 2022, growing 29% y-o-y, while operating profit recorded EGP 229 billion

EGAS, TAQA Arabia sign agreement to bring natgas in El Wadi El Gedid homes

The Egyptan Natural Gas Holding Company (EGAS) signed yesterday a cooperation protocol with Qalaa Holdings’ TAQA Arabia to connect homes in El Wadi El Gedid to the natural gas grid by using compressed natural gas (CNG), according to an Oil Ministry statement. The agreement will see 14k homes in the governorate connected to the grid as a first phase, while later phases will connect more homes and expand to commercial and industrial consumers.

Building a Future of Borderless Trade

Qalaa Holdings Managing Director for Transportation & Logistics, Karim Sadek, speaks about the underdevelopment of intra-regional trade in Africa, the need to develop vital infrastructure and the important role that Rift Valley Railways is currently playing to open up regional trade routes on the continent that will significantly facilitate the movement of goods.

Citadel Establishes Energy Platform Company, Plans Capital Increase and Expansions

New Refinery Promises Some Relief to Egypt Fuel Crisis

Ahmed Heikal to the EU-Africa Business Forum: Africa is the Last Investment Frontier

El Moslemany Meets with Egyptian Alumni of Harvard University

Mohamed Shoeib: Egypt Needs to Rely on Alternative Energy Sources

The Energy Crisis and Solutions Discussed at Al Watan Symposium

Citadel Capital’s Plan for East Africa’s Growing Businesses

Citadel Capital’s Heikal Sees ‘Aggressive’ Asset Sale