Qalaa’s ranking reflects the firm’s continued efforts to improve profitability and ability to build sustainable invesments
Qalaa Holdings (CCAP.CA on the Egyptian Exchange), an African leader in energy and infrastructure, announced today that the firm has been ranked as one of the “Top 100 Companies” listed on the EGX in 2018 by Amwal Al Ghad Magazine, a leading business and economics magazine in Egypt and the Middle East. The announcement was made at Amwal Al Ghad’s fourth annual awards ceremony held during the ‘Egypt for the Better Summit’ under the auspices of Egyptian Prime Minister Moustafa Madbouly.
Receiving the award for Qalaa was Managing Director Karim Sadek, who said: “We are extremely proud that Qalaa was able to maintain its ranking for the fourth consecutive year, which reflects our robust performance over the past year.”
“In 2018, revenue and profitability grew across the firm’s subsidiaries, which was reflected in the exceptional performance of our stock on the EGX30. Qalaa climbed c180% over the year and was one of the most actively traded and executed stocks on the exchange,” said Qalaa Co-founder and Managing Director Hisham El-Khazindar on the occasion. “We will continue in 2019 to develop and maintain sutainable profitability across subsidiaries to drive shareholder value in light of the expected start of operations at the Egyptian Refining Company (ERC) and the inauguration of TAQA’s Benban solar plant.”
The ceremony was attended by several high-profile officials including Minister of Public Enterprise Hesham Tawfik, who attended the ceremony on behalf of Prime Minister Moustafa Madbouly, as well as Minister of Planning Hala El Said, Minister of Transport Hesham Arafat, and Minister of Social Solidarity Ghada Waly, in addition to several guests of honor representing various governmental bodies.
Qalaa Chief Marketing & Sustainability Officer Ghada Hammouda took the opportunity to praise the summit’s annual initiative to honor the 50 Most Influential Women in Egypt, which highlights the positive role played by women in developing the Egyptian economy. “Qalaa prides itself on adopting the UN’s Sustainable Development Goals (SDGs) and leading by example in achieving gender equality (goal number 5) by empowering women to hold leadership and executive positions,” said Hammouda.
Four of Qalaa’s top executives have over the years been named among the 50 Most Influential Women in Egypt over 2016 and 2017 including: Chairman and Managing Director of Sphinx Private Equity Management Marianne Ghali, Chairman and CEO of City Gas and CFO of TAQA Gas Hala Abu Bakr, CEO of TAQA Arabia Pakinam Kafafi, and Hammouda herself.
“Qalaa is also delighted to celebrate the graduation of the first class of the ‘Women Driving the Future’ program and our participation in the training of a new generation of qualified women,” said Hammouda. Launched in 2018, the program is considered the first of its kind to combine private and public sector efforts to develop women qualified to lead various sectors by way of a scientific curriculum taught by leading experts as part of the government’s efforts to empower Egyptian women to assume more leadership roles.
Qalaa Holdings (CCAP.CA on the Egyptian Stock Exchange) is an African leader in energy and infrastructure. Formerly known as Citadel Capital, Qalaa Holdings controls subsidiaries in industries including Energy, Cement, Agrifoods, Transportation & Logistics, Mining, and Printing & Packaging. To learn more, please visit qalaaholdings.com.
Statements contained in this News Release that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of Qalaa Holdings. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Certain information contained herein constitutes “targets” or “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Actual events or results or the actual performance of Citadel Capital may differ materially from those reflected or contemplated in such targets or forward-looking statements. The performance of Qalaa Holdings is subject to risks and uncertainties.
For more information, please contact:
Ms. Ghada Hammouda
Chief Marketing and Sustainability Officer
Citadel Capital (S.A.E.)
Tel: +20 2 2791-4439
Fax: +20 22 791-4448
Mobile: +20 106 662-0002