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RVR investor voted top in Africa
By Vision Reporter, Oct 23, 2012
Citadel Capital, the lead investor in Rift Valley Railway (RVR), has been voted the continent’s leading private equity firm for the fourth year in a row.
The annual Private Equity International 300(PEI 300) ranked Citadel Capital top in Africa on the basis of the $3.5b it raised for investment projects on the continent between 2007 and 2012.
The PEI 300 ranks similar equity funds globally and is in its sixth year.
“Africa is long on opportunities but short on capital and management expertise. Since inception, we have focused on creating platform investments that offer solutions to pressing national challenges,” said Ahmed Heikal, the chairman of Citadel Capital.
“With investments such as RVR of Kenya and Uganda and the Egyptian Refining Company, we are creating companies that will solve challenges and multiply trade flows.”
Egyptian-based Citadel has raised and invested more than $4.9b in the Middle East, North Africa and East Africa since its inception in 2004.
It has recently completed the finanacing for a five-year turnaround programme at RVR worth more than $330m.
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