Egyptian private equity firm Citadel Capital said it was investing $40 million to grow crops in Sudan, where agricultural spending is increasing as the government moves to address food shortages.
- Reuters
-
29 September 2010
African governments need to raise their level of accountability and ensure that they improve and protect their own food security through quid pro quo side-agreements negotiated when they lease or sell their arable land to foreign interests, says Keith Mullin of Thompson Reuters
Citadel Capital Corp., an Egyptian private-equity firm with $8.3 billion in investments, said one of its companies received a $4.9 million loan from Bank of Khartoum for the plantation of land in Sudan.
Wafra, Citadel Capital’s agriculture platform in Sudan, said its portfolio firm has obtained a $4.9 million loan from Bank of Khartoum to support the farming of its first 2,076 acres of sorghum.
- TradeArabia
-
01 August 2010
"Investors like Citadel Capital and Goldman Sachs must be stopped from acquiring large tracts of land in Africa because this practice has become a serious threat to the continent's food sovereignty"
- Business Daily
-
04 May 2010
Egyptian private equity firm Citadel Capital is seeking to buy Kenya’s firms and long-term land leases as it seeks agro-based raw materials to feed its food business.
- Business Daily
-
12 April 2010
El-Nahda for Integrated Solutions signed an agreement with the White Nile Governorate for a 30-year lease on 60,000 feddans [25,210 ha] of land on which it will build a large-scale commercial rice farm.
Citadel's Karim Sadek dismisses talk of land grabbing as an “academic concern”, saying “there should definitely be a priority for the produce to be sold on the local market, if there is a paying market for it”.
- Ratio Magazine
-
24 February 2010
Citadel Capital says that their investments will mainly focus on the agriculture sector, with Tanzania's 'Kilimo Kwanza' initiative taking the centre stage.
- Tanzania Daily News
-
01 February 2010
Citadel Capital will deploy significant capital across East Africa in 2010 in sectors spanning from agriculture to consumer foods.
- Business Daily
-
29 December 2009
“We are now looking very seriously into Sudan,” said Zouhair Eloudghiri, chief executive officer of Savola Foods Co., a unit of Saudi Arabia’s second-largest publicly traded food producer, Savola Al-Azizia United Co.
- Bloomberg
-
17 December 2009
Asked why he was attracted to Sudan, where Citadel got 200,000 ha of farmland betting on a continued global commodities rally, Chairman Ahmed Heikal said: "Almost free land, available water, fantastic climate, fantastic land quality -- why not Sudan?"