24 April 2012    

Citadel Capital, (CCAP.CA on the Egyptian Exchange), the leading private equity firm in Africa and the Middle East with US$ 9 billion in investments under control, was today appointed to the Board of the African Venture Capital Association (AVCA).\n\nThe African Venture Capital Association is hosting its ninth annual conference in Accra, Ghana, from 22-24 April 2012. The event convenes the most senior limited partners, private equity firms and institutional investors shaping Africa’s investment landscape and provides a platform to explore how Africa is rising in a world increasingly wracked by crisis.\n\nAVCA is restructuring its Board and creating an Advisory Council to support its drive to play a more visible and active role as a champion for the African PE industry, shining a light on the groundbreaking deals now being done on the continent.\n\nA statement released by AVCA Chief Executive Michelle Kathryn Essomé announced that Citadel Capital Managing Director Karim Sadek had joined the Board, pointing out that his appointment would contribute significantly to the success of AVCA’s re-launch.\n\n“We are absolutely delighted that Karim Sadek will be joining the Board of AVCA. For us to successfully promote and protect the long-term interests of the entire pan-African industry, it is vital that our advisors are comprised of not just proven African investors like Citadel Capital, but investors who have compelling track records in specific regions. Citadel Capital’s investments in North and East Africa make it an invaluable voice for private equity investors in those regions,” Essomé noted.\n\nShe added, “Karim’s deep experience investing across Africa will be invaluable as AVCA aims to deliver on the needs of a growing and diverse pan-Africa venture capital and private equity industry.”\n\nCitadel Capital raised more than half a billion dollars in equity and debt in 2011, the majority of it from international institutional investors and the lion’s share of that sum coming from development finance institutions. Following its investment in Rift Valley Railways, Citadel Capital has been named the leading infrastructure investor in 2011 according to a recent report by Deloitte and Africa Assets.\n\nCommenting on his appointment, Sadek remarked, “Citadel Capital is honored to be playing a hands-on role in supporting the re-launch of AVCA. Africa is long on opportunity, but short on capital and management expertise — two things that private equity is uniquely positioned to bring to the table. As the largest PE firm in Africa, we see it as our responsibility to take an active role in helping shape the development of our industry across the continent. In the earliest days of what we believe is clearly Africa’s century, private equity investors have a vital role to play in structuring investment opportunities that offer not just outstanding long-term returns to LPs and GPs alike, but which will also meet the aspirations of more than 1 billion Africans working for a better tomorrow.”\n\nAVCA is a not-for-profit association, founded to promote, develop and stimulate private equity and venture capital industry in Africa through research, advocacy, training, networking, and the dissemination of industry best practices.\n\n—Ends—\n\nCitadel Capital (CCAP.CA on the Egyptian Stock Exchange) is the leading private equity firm 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. The firm’s 19 OSFs control Platform Companies with investments of US$ 9.0 billion in 15 countries spanning 15 industries, including mining, cement, transportation, food and energy. Since 2004, Citadel Capital has generated more than US$ 2.2 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 (2006-2011, as ranked by Private Equity International). For more information, please visit www.citadelcapital.com.\n\nFor more information, please contact:\n\nMs. Ghada Hammouda\nHead of Corporate Communications\nCitadel Capital (S.A.E.)\n\nghammouda@citadelcapital.com\n\nTel: +20 2 2791-4440 • Fax: +20 22 791-4448\nMobile: +20 10 6662-0002