Published: May 10, 2012
Private equity firm’s Karim Sadek joins African Venture Capital Association.
Karim Sadek, head of Citadel Capital-backed Rift Valley Railway, has joined the board of the African Venture Capital Association (AVCA).
Sadek, who is also a managing director at Cairo-based private equity firm Citadel Capital, joins the board as the AVCA undergoes a restructuring and creates an advisory council. Chief executive Michelle Kathryn Essomé has said that Sadek’s appointment is a key part of the association’s relaunch.
“Africa is long on opportunity, but short on capital and management expertise — two things that private equity is uniquely positioned to bring to the table,” said Sadek in a statement. “As the largest PE firm in Africa, we see it as our responsibility to take an active role in helping shape the development of our industry across the continent.”