Friday, January 15, 2010

Fund managers seek new investment opportunities in low income African countries

Citadel Capital, an Egyptian based private equity fund will open a regional office in Nairobi this month. Citadel will seek to deploy capital in east Africa across diverse sectors such as agriculture, transportation, mining, energy and financial services including microfinance. The Fund managers have an enviable track record, returning more than US$ 2.4 billion in cash to their co-investors — more than any other MENA private equity firm. With its investment in the Citadel Capital Joint Investment Fund, the African Development Bank helps to promote a fund with a unique regional integration strategy. Such regional growth supports job creation and poverty reduction; in addition, the active participation and involvement of the Fund managers in the investee companies leads to effective skills transfer, improved governance, standardized processes, improved competitiveness and operational efficiency for companies operating in low income countries.