Citadel Capital Managing Director Amr El-Barbary tells senior government officials and business leaders at the 3rd COMESA Investment Forum in Sharm El-Sheikh that there has never been a more interesting time to invest in Africa
Private equity has a vital role to play in unlocking Africa’s potential as a global economic player, a senior Citadel Capital executive told business leaders and government officials at a gathering in Sharm El-Sheikh Monday.
“The COMESA countries have natural competitive advantages that leading private equity players such as ourselves look to unlock as we link national producers to regional markets and regional hubs to the global economy,” said Amr El-Barbary, Managing Director at Citadel Capital, the leading private equity firm in the Middle East and Africa with investments under control of US$ 8.3 billion spanning 15 industries and 14 nations, including COMESA member states Egypt, Kenya, Uganda, Sudan, Ethiopia and Libya, among others.
El-Barbary participated in a session that looked into the benefits of private equity investment in Africa at the 3rd COMESA Investment Forum. The two-day meeting, which took place in Sharm El-Sheikh, Egypt on April 12-13 in collaboration with the Egyptian Ministry of Investment, gave high-level industry leaders the unique opportunity to engage one-on-one with ministers, key policy makers and business leaders from 19 COMESA member states.
Sessions included discussions on the future economic growth of Africa with a special focus on key sectors such as infrastructure, agriculture and agribusiness, all industries in which Citadel Capital has sizeable investments.
“Citadel Capital has always been attracted to markets that have competitive advantages offered by large, fast-growing populations that translate into sizable skilled workforces and substantial consumer markets,” said El-Barbary. “Many of them are proximal to important export markets. We see legacies of inefficiency and fragmented markets that can be redressed by smart private-sector players with the vision, capital and management talent to create new engines of economic growth. All of these are, in one way or another, characteristics of the African markets we’re now exploring,” he adds.
As the largest private equity firm in Africa, Citadel Capital currently has nine Platform Companies with exposure to non-Egyptian Africa in industries including mining, oil and gas, electricity generation, cement, banking, agriculture, agrifoods, transportation and logistics. Among Citadel Capital’s most recent investments in COMESA countries was its acquisition of a 51% stake in Rift Valley Railways of Kenya-Uganda and the signing of a 30-year lease to establish El Nahda for Integrated Solutions, which is building Sudan’s first commercial rice farm.
Citadel Capital (CCAP.CA on the Egyptian Stock Exchange) is the leading private equity in the Middle East and Africa. Citadel Capital focuses on building regional platforms in select industries through acquisitions, turnarounds, and greenfields executed via Opportunity Specific Funds. Citadel Capital’s 19 OSFs now control Platform Companies with investments worth more than US$ 8.3 billion in 14 countries spanning 15 industries, including mining, cement, transportation, food and energy. Since 2004, the firm has generated more than US$ 2.5 billion in cash returns to its co-investors and shareholders (on investments of US$ 650 million), more than any other private equity firm in the region. Citadel Capital is the largest private equity firm in Africa by PE assets under management (2004-2009, as ranked by Private Equity International). For more information, please visit www.citadelcapital.com.
For more information, please contact:
Ms. Ghada Hammouda
Head of Corporate Communications
Citadel Capital (S.A.E.)
g...@qalaaholdings.com (click to reveal this email)
Tel: +20 2 2791-4440 • Fax: +20 22 791-4448
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