Citadel Capital Chairman Ahmed Heikal Honored with Lifetime Achievement Award



Firm’s founder and chairman honored at Arabian Business Achievement Awards 2013 with Lifetime Achievement Award for his contribution to the development of business, finance and investment in the Middle East and Africa

Citadel Capital Founder and Chairman Ahmed Heikal has received Arabian Business magazine’s 2013 Lifetime Achievement Award, honoring his contributions over more than a quarter of a century to the development of business, finance and investment in the Middle East and Africa.

The award was announced on 11 November 2013 at a black-tie event in Dubai, UAE, at which former United Kingdom Prime Minister Tony Blair, who currently serves as Envoy of the Quartet on the Middle East, was the keynote speaker.

More than 600 business leaders and senior government officials from UAE and across the wider region attended the gala dinner, which stands as the largest awards ceremony in the Middle East.  UAE Deputy Prime Minister Sheikh Saif bin Zayed Al Nahyan received the Business Innovation Award, with other attendees including Abdul Rahman Euwais, Minister of Health; Hamid El-Katemy, Minister of Education; and Rashed Ahmed Ben Fahed, Minister of Environmental Affairs — .

“It is always an honor to be recognized by one’s peers, particularly after the tumultuous events of the past six years, from the global financial crisis to global deleveraging and two revolutions in Egypt. It has been a great challenge to manage through this period, but I am absolutely confident that Citadel Capital is emerging as a pillar of the business world in Egypt, Africa and the Middle East,” Heikal said. “In particular, I am very optimistic today about the long-term prospects of Egypt, our home market and the Arab world’s most diverse economy, where we look forward to a sustained economic recovery beginning in the second half of 2014.”

 “Success is neither a point in time nor a destination,” Heikal said in his acceptance speech. “It is a journey made of many decisions and choices, filled with high and low points, achievements and setbacks. Most importantly, it is a journey that none of us can travel entirely on our own. I have been part of some truly amazing success stories, and a number of rather less-than-fortunate ventures. Through it all, it has been the people who have walked beside me that have made the journey truly worthwhile. It is to my colleagues, friends and, most of all, my family, that I attribute the lion’s share of my accomplishments.”

Prior to founding Citadel Capital, Heikal was an executive board member and Managing Director of EFG Hermes Holding, the region’s leading investment bank, having joined the then-small financial consultancy firm after defending his doctoral dissertation in Industrial Engineering and Management at Stanford University.

At EFG Hermes, Heikal led the transformation of a small firm into the region’s leading investment bank, serving as an executive board member and having led at various times each of the four fee-generating lines of business: asset management, securities brokerage, investment banking and private equity.

Having formed Citadel Capital as a two-person partnership in 2004 with LE 2 million in capital, Heikal has since led the creation of the leading investment company in Africa and the Middle East with US$ 9.5 billion in investments under control spanning 15 nations. The firm’s capital will stand at LE 8 billion in early 2014 following completion of an ongoing share issuance.

With investments including the national rail operator of Kenya and Uganda, an economically game-changing refinery in Egypt, and the region’s leading independent cement producer with spanning from Algeria to Egypt, Sudan and Iraq, Citadel Capital was until recently ranked the largest private equity firm in Africa for four years running according to the independent league tables of Private Equity International.

The firm is now completing a an EGP 3.64 billion share issuance that will fuel its transformation from a hybrid private equity firm into an investment holding company with majority ownership of most of its platform companies in five core industries: energy, transportation, agrifoods, mining and cement.

Heikal’s track record at Citadel Capital includes the largest-ever private equity transaction in MENA markets (the US$ 1.4 billion sale of Egyptian Fertilizers Company) and one of the largest-ever project finance transactions in Africa (the US$ 3.7 billion Egyptian Refining company).

He is a frequent commentator on national economic issues in the Egyptian, regional and global press and the author of a policy proposal that would help the Government of Egypt curb spending on ruinous fuel subsidies while cushioning any impact of the poor — all while sharply expanding spending on health, education and welfare.

“The best days for me in business are when we embark on something that leaves the communities in which we do business better than we found them,” Heikal said. “Sometimes that is the opening of a factory and the job creation that entails, other times it is the announcement of each year’s class of Citadel Capital Scholars, 115 of whom have studied or are now studying for graduate degrees at top global universities on full scholarships with one condition: That they return home to work in their chosen fields following their graduation.”

Heikal concluded his remarks with thanks to his wife, mother, and father, the journalist and intellectual Mohammed Hassanein Heikal, all of whom attended the event as his guests of honor.

“Over the years, I have come to realize that the book I would have written would have been titled, ‘Everything I Really Need to Know, I Learned from my Father.’ His lessons have formed the foundations of everything that I do,” Heikal said to emotional applause from the audience.

“My approach to life is simple: Dream big, have the audacity to execute, get the best people, incentivize them properly, and lead by example. If you do not adore it, don’t do it. You don’t want to find yourselves waking up in the morning asking, ‘Why do I do this?’” he concluded.


  1. Taxi moto line
    128 Rue la Boétie
    75008 Paris
    +33 6 51 612 712  

    Taxi moto paris

    What’s up, its nice paragraph about media
    print, we all know media is a wonderful source of data.

  2. Excellent items from you, man. I have keep in mind your stuff previous to and you are
    just too magnificent. I really like what you’ve obtained
    right here, certainly like what you’re stating and the way in which you are saying it.
    You make it enjoyable and you continue to care for to stay it smart.
    I cant wait to read much more from you. That is actually a terrific website.

  3. What does Clomid do pro men? ovulation pills works via blocking estrogen receptors in the intellectual, which can further the production of testosterone and sperm payment men. Your body has a complex approach for controlling its simple output of testosterone Clomid.

  4. Greetings I am so thrilled I found your web site, I really
    found you by error, while I was browsing on Askjeeve for something
    else, Anyhow I am here now and would just like to say thank you for a marvelous post and
    a all round interesting blog (I also love the theme/design), I don’t have time to look
    over it all at the moment but I have book-marked it and also added your
    RSS feeds, so when I have time I will be back
    to read more, Please do keep up the superb work.

  5. Which works faster generic viagra 100mg tablets or Cialis. Cialis in general works within 16 to 45 minutes, and its pursuit is not bogus nearby food. Viagra in the main works within 30 minutes, and its essence may be diminished if taken a moment after a high fatty meal (which may also wait how fast it works). Into this reason, generic cheap viagra online viagra generic is tucker taken on an trivial stomach.

  6. Have you ever heard of second life (sl for short). It is essentially a game where you can do anything you want. SL is literally my second life (pun intended lol). If you would like to see more you can see these Second Life articles and blogs

  7. Have you ever heard of second life (sl for short). It is essentially a video game where you can do anything you want. SL is literally my second life (pun intended lol). If you want to see more you can see these Second Life authors and blogs


Please enter your comment!
Please enter your name here