African Hidden Champions Hosts Egypt’s Top Business Leaders

The fastest growing platform for showcasing Africa’s best companies hosted its first Dinner & Dialogue in North Africa on 19 June in Cairo. The event is part of a series of regional events that the African Hidden Champions (AHC) initiative is holding in key business hubs across Africa in 2023.

AHC, a co-partnership of Africa Foresight Group, DEG – Deutsche Investitions- und Entwicklungsgesellschaft (The German Development Finance Institution) and the African Development Bank, was founded in 2020 and now has more than 25 dynamic African firms in its network, supporting them by telling their stories, exposing them to new markets, and providing technical assistance.

“We are very honoured to be hosting this regional forum with key players in the business sector of not only the country but also the North African region. We believe that African companies have the necessary leadership capacity and knowhow to conquer global markets, said Yasmin Kumi, AHC Co – Founder and CEO Africa Foresight Group. Co-partner DEG’s representative, Wael Akari, added that “North Africa is a vital part of the African economic growth story, so it is no surprise that several AHC firms are located in the region”.

Mr. Wael Akari – Senior Investment Manager DEG, Ms. Yasmin Kumi – AHC Co – Founder & CEO Africa Foresight Group & Dr.Ghada Abuzaid Prinicipal Industrial Program Coordinator AfDB

 
Dr. Ahmed Ezz El – Din, the Group CEO of Cleopatra Hospitals Group, observed that being named an African Hidden Champion illustrated the group’s unwavering commitment to excellence and to the growth and development of the Egyptian healthcare industry.

“We believe in the immense potential of Africa’s business landscape, and we are committed to actively contributing to its growth by sharing our expertise and best practices while fostering collaborations and partnerships that enhance healthcare outcomes across the continent. With Egypt’s strategic geographic location and its potential to serve as a regional hub, CHG is well-positioned to expand its reach and capitalize on business opportunities within Africa,” El Din said.

Firms also represented at the Dinner included Edita Foods, Sekem, Haggar Group, Al Araby Group, Andalusia Hospitals, Karm Solar, Orascom Construction, Polyserve Group, Zworld Holding, Score Grass, as well as the Egyptian African Businessmen Association.

Emna Zayani – Karm Solar, Ninel Musson – Africa Foresight Group & Menna Shams Al Din – Edita Foods

Dr. Ghada Abuzaid, Principal Industrial Program Coordinator at the African Development Bank Group, said:

“The African Development Bank believes that Africa is a land of many opportunities. A narrative that AfDB supports is about “Africa being the continent of potential”, and we work with partners to realize that potential. AfDB is leading a mission of spurring economic development with focused support to the private sector. We have a private sector portfolio of US$ 15 billion. AfDB supports the acceleration of industrialization and private sector development in North Africa (as in other regions) through several flagship programs: catalysing funding into transformative industrial projects (We will invest up to US$ 3 billion to upscale local and regional Pharmaceutical champions, harmonize regulations and transfer technology for market access); fostering supportive industrial policies and standards to address and minimize the barriers to trade between African countries; catalysing liquid and effective capital markets and improve access to market finance for African SMEs; the Bank is leading the institutional and operational support to scale up AfCFTA implementation to enhance access to markets and intra-Africa trade; promoting and driving enterprise development through its joint work with partners in scaling up non-financial support such as targeted advisory and technical assistance. The growth of these enterprises in turn catalyzes their countries’ economies and also leads to active participation of the enterprises in the global value chain.”

AHC will announce the next cohort of winning Hidden Champion companies in the coming months.