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Citadel Capital to invest USD400m in East Africa

Citadel Capital, Africa’s largest private equity firm, plans to invest a further USD200m to USD400m over the coming two years in Kenya, Uganda and Tanzania.

The announcement was made by Ahmed Heikal, Citadel Capital’s chairman and founder, and comes in the wake of the firm’s investments in Sudan.

To date, Citadel Capital’s Sudanese investments cover sectors including transportation and logistics, financial services, cement, mining, agriculture, and oil and gas.

“By the end of 2010, we will have invested more than USD900m in that nation,” Heikal says.
 
“Citadel Capital is uniquely positioned to apply the industry development model we honed in North African economies to markets in Kenya, Uganda and Ethiopia. East Africa’s appealing natural competitive advantages — including fast-growing consumer markets and large workforces — fit perfectly with our time-proven strategy of turning national players into regional champions.”

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