Citadel Capital, the leading private equity firm in the MEA, has received the prestigious industry award that recognizes outstanding contribution to the economic growth and development of Africa
Beating fellow finalists, De Beers, Safaricom, Ecobank and Bidco, Citadel Capital was named ‘African Business of the Year’ at the African Business Awards attended by the Prime Ministers of Cameroon and Togo in London last Monday.
The award is given annually to a company that has demonstrated outstanding financial performance and significant development of new market segments, together with “innovative working techniques and employment of staff from the communities in which it operates”.
Winners must have high standards of good corporate citizenship and have contributed significantly to changing the perceptions of Africa in global markets.
TRANSFORMING COMPANIES
“It is truly an honor to have been chosen as African Business of the Year from such a distinguished group of nominees,” said Citadel Capital Chairman and Founder, Dr. Ahmed Heikal.
“Founded little more than five years ago with an initial investment of just $ 400,000, we are very proud of the growth that we have achieved. Citadel Capital continues to pursue investment opportunities throughout the continent that will allow us to transform promising national companies into regional champions,” he added.
“Citadel Capital seeks out national companies with the potential to become regional champions, then deploys the human and monetary capital needed to make that transformation happen,” said Citadel Capital Managing Director and Co-Founder, Hisham El-Khazindar.
“Over the past 12 months, the firm has closed a significant number of transactions in what we believe will be an excellent vintage year for private equity investing,” El-Khazindar added.
Citadel Capital’s African Business of the Year award follows various other achievements this year, including Infrastructure Investor magazine’s African Infrastructure Deal of the Year and recognition by emeaFinance as Africa’s Best Private Equity House.
