Alaa El-Afifi addresses the second annual North Africa Trade and Investment Conference in Cairo
Alaa El-Afifi, Managing Director of Citadel Capital, addressed the 2nd Annual North Africa Trade & Investment Conference on October 21, 2009, pointing out that the financial crisis that unfolded from Western markets has offered a unique opportunity for economies throughout Africa to attract international capital.
“African countries are trying to encourage foreign direct investment through the offering of fiscal and infrastructure incentives and amenities in free trade zones and remote areas to promote employment and sustainable development,” El-Afifi said. “These incentives, on top of strong underlying investment fundamentals, create unique opportunities for discerning, sophisticated and capable investors.”
Investors are coming out of the current recession and are turning towards developing economies with a fresh attitude and approach to risk, he noted, and the stage is set for African countries to attract serious investments across a myriad of sectors.
Though much has been done to attract investment and development projects, more remains to be accomplished: “Africa is the fastest-growing region for foreign direct investment in the world, but if one were to analyze the region’s different characteristics and dynamics, one can easily see a potential for a multiple-fold increase over the current levels,” he concluded.
Citadel Capital is the leading private equity firm in the Middle East and North Africa. The firm focuses on building platform investments throughout the region in select industries through acquisitions, turnarounds, and greenfields executed via Opportunity Specific Funds. Citadel Capital’s 17 OSFs now control Platform Companies with investments worth more than US$ 8.3 billion in 14 industries, including mining, cement, transportation, food and energy. Since 2004, the firm has returned more than US$ 2.4 billion in cash to investors, more than any other private equity firm in the region.\
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
Mobile: +20 16 662-0002