Ahmed Heikal

Chairman and Founder, Qalaa Holdings


Dr. Heikal is the founder of Qalaa Holdings (QH). In the past 10 years QH transformed from a general partnership private equity manager with EGP 2 million in capital to a leading investment holdings firm investing in Egypt and East Africa with EGP 9.1 billion in capital. The firm is a leading investor in a number of platform companies in the energy, cement, transportation & logistics, mining, consumer finance and retail sectors.

Prior to founding Qalaa Holdings, Dr. Heikal had joined EFG Hermes in 1992. At the time, EFG Hermes had a capital of EGP 250,000. Dr. Heikal was instrumental in transforming EFG Hermes from a small financial consultancy into the leading investment bank in the Arab world and emerging markets. Dr. Heikal was an executive board member and Managing Director of EFG Hermes Holding. He was also head of asset management (1994-95), head of investment banking (1996-97), head of securities brokerage (1997-99), and head of private equity (1999-2001). He spearheaded highly successful private equity investments, including the creation of Egypt’s leading IT company (Raya Holding) and Egypt’s largest natural gas distribution company (Genco). He also raised three rounds of financing for regional mobile telecommunications operator Orascom Telecom and led the IPOs of Orascom Construction Industries and Orascom Hotels, among other landmark transactions.

Dr. Heikal holds a Master’s degree and a PhD in Industrial Engineering and Engineering Management from Stanford University.


Qalaa Holdings (CCAP.CA on the Egyptian Stock Exchange) is an African leader in infrastructure and industry focused on Energy, Cement, Transportation & Logistics, and Mining. Qalaa Holdings was formerly known as Citadel Capital. To learn more, please visit qalaaholdings.com.