HiPipo Money

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The firm’s founder and chairman honored at African Investor CEO Investment Summit 2014 for his continued contributionto the development of the business, finance and investment landscape in Africa

Qalaa Holdings (formerly Citadel Capital, CCAP.CA on the Egyptian Exchange) an African leader in infrastructure and industry, is pleased to announce that its Founder and Chairman Ahmed Heikal has received African Investor’s African Business Leader of the Year Award, honoring his 25-year contribution to the development of business, finance and investment in Africa.

The annual awards, which recently took place in Washington D.C. alongside the World Bank’s Annual Meetings, recognize exceptional business practices, economic achievements and investments across Africa, as well as the institutions and individuals improving the continent’s investment climate. Other winners included Nigeria’s Minister of Finance and the Kenyan Investment Authority (KenInvest).

“I am truly honored to be recognized at such a prestigious venue and alongside such an esteemed list of key African business and investment figures,” said Heikal. “As I have noted repeatedly, we are truly in the midst of an African Century. Twelve of the world’s 20 fastest-growing economies in the next five years will likely be in North and Sub-Saharan Africa, and today our continent is a one-billion-strong consumer market, while in 2040 it will be home to the world’s largest working-age population. Our middle class is already more than 310-million strong, and our 18 largest cities will have combined purchasing power of USD 1.3 trillion by 2030,” added Heikal.

Heikal founded Qalaa Holdings as a two-person partnership with Hisham El-Khazindarin 2004 with EGP 2 million in capital. The company has since successfully shifted its investment model from a private equity firm to an investment holding companywith accumulated assets on its balance sheet that are presently in excess of USD 4.2 billion, extending its leadership in five core sectors: energy, transportation, agrifoods, mining and cement.

“The transformation currently underway in Africa is one that will completely remake the continent and, with it, the global economy,” noted Heikal.

“Africa is now home to more than two dozen nations that the World Bank’s International Finance Corporation sees as prime for private equity investment, and the continent’s foreign reserves base is skyrocketing on the back of an export-led, commodities-driven boom. When coupled with a growing number of governments led by younger, better-educated individuals who are more open to private-sector involvement in the economy than ever before, it’s easy to see why all eyes should be on Africa,” he added.

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$1.8m train simulator acquired to improve train driver handling

40 new drivers to be recruited to handle added locomotives

Regional rail operator, Rift Valley Railways, has begun training its team of 135 drivers ona$1.8 milliontrain simulator that will improve driver skill and performance, while improving train operating efficiency.

The technology allowsthe inputting of data gathered from different sections of the railway line to simulate a range of operating parameters and hasaactual sizedriver’s cabin with real-life sound cues. The operator navigates the train through a large video display of the track while an on-board computer and monitors assist the driver to operate the train.

The simulator is manufactured by the New York Air Brake Corporation, a leading producer of high-technology train control systems for the railroad industry worldwide.

Speaking during the launch RVR’s senior systems specialist, KahigaWanderisaid: “A topography team mapped our entire mainline track from Mombasa to Kampalawhich meansdriverscanhave a true-life experience of driving on the railway before getting into a train. This will optimise train operating conditions, further reducing the number of incidents, cut transit time and reduce fuel consumption which increases our capacity to move more cargo for customers”.

RVR will double its existing locomotives capacity by the end of June next year. Twenty of these are American built locomotives with General Electric engines acquired at a cost of sh2.2 billion.

“We have already deployed three of the 20 US-made locomotiveswe expect to receive by April next year. We are now looking to enlist 40 new train drivers and develop their skills with this equipment in readiness for this extra locomotive capacity,” Andrade added.

JaafarOkeng’oan RVR train driver said: “The simulator gives you a real experience of the many controls in the train cabin and allows you to test tricky sections along the railway track in advance.This makes it easier and faster to get it right when you’re actually driving the train.” 

In July, RVR commissioned two high capacity railway track maintenance machines that automate and hasten track restoration. The Ballast Tamper and Ballast Profiler machines arrange displaced ballast and restore the track to the technically required geometric alignment at a speed of one kilometer per hour compared to only 40 meters per hour using manual processes.

The rail operator rehabilitated 73 kilometres of railway track between Mombasa and Nairobi and installed of GPS-based train operating technology on all trains. This helped cut cargo transit times between the two cities by six hours. RVR has also rebuilt nine crumbling culverts near Jinjaallowing the direct movement of heavy trains to Uganda.

The rail operator has also vastly expanded its fleet of wagons through on-going overhaul and rehabilitation programmes at its Nairobi and Kampala workshops. 

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MTN Group has noted that a tribunal of independent arbitrators has ruled against Turkish mobile operator Turkcell, in the investor-state arbitration under a bilateral investment treaty case held in terms of the rules of the United Nations Commission on International Trade Law (UNCITRAL).

In an arbitral award rendered on 15 October 2014, the tribunal held that it had no jurisdiction to hear claims worth US$600 million brought by Turkcell under the Turkey-Iran bilateral investment treaty, on the basis that no qualifying “investment” was made within the meaning of the treaty.

This week’s failed litigation is the latest in a series of unsuccessful claims that Turkcell has brought in respect of the award of the Iranian licence.

In 2005, the same company brought an action in an Iranian court for an injunction to prevent the granting of the licence to Irancell, and it sought damages. This claim was dismissed. Turkcell also commenced an ICC arbitration against its former Iranian partners in 2008, which was dismissed on 17 April 2012. In May 2013, Turkcell dropped itslawsuit against MTN before the US District Court of Columbia.

The lawsuit was re-filed in the South Gauteng High Court in Johannesburg in November 2013.

MTN will continue to defend its rights in any jurisdiction wherever the lawsuit is filed. Turkcell’s claim for damages regarding the awarding of the second GSM licence in Iran has no legal merit and MTN will accordingly continue tovigorouslyoppose it.

MTN did not cause Turkcell to lose its Iran licence bid, as claimed by Turkcell. The Turkcell consortium was never awarded the licence in Iran. 

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Just over a month ago,MTN Uganda launched the Kaja lottery game in which customers subscribe to win prizes such as airtime, Mobile Money and huge sums of cashincluding a grand prize of 40 million shillings. Several customers have already won airtime,and various amounts of cash through Mobile Money. Ms. Agnes Kasso, a restaurant owner inNabweru and Eliab Kato a farmer in Luweero were the first two winners of 10million shillings each from the ongoing MTN Kaja lottery game.

The latest winner of another 10 million shillings is Mr. Lazarus Okoth of Nagongera town council in Tororo district.

In expressing his excitement as he received his cash prize, Lazarus knelt down to his knees and lifted the money to the sky as he thanked God and MTN for his lucky break.Lazarus broke down in joy as he jubilated in the presence of hundreds of witnesses in Tororo town. “Thank you God for MTN that has made me a millionaire. This is like a dream. I have never held this amount of money in my life. MTN thank you for this life changing opportunity. I have been subscribing daily to *178# and praying to God to make me a winner and indeed he has made me one today”,said Lazarus.

The Kaja lottery is open to all MTN customers and everyone who participates stands an equal chance of winning all prizes including the grand cash prize of 40 million shillings.

MTN’s Segment Manager for the Mass Market, Emmanuel Mangeni who handed over the cash to Lazarus said that there are still millions of shillings for customers to win.”We want to enable the lives of our customers through every product we offer them. MTN Kaja is one example of the many life changing opportunities that MTN offers our customers.

Meanwhile Agnes a previous winner from Nabweruhas already made use of her 10 million shillings jackpot.” My life has never been the same since I won 10 million shillings from Kaja, I have since managed to clear all my debts, expand my business and I am generally a happier person. I believe MTN is a company that keeps its promises”,explained Agnes.

Eliab, the other winner of 10 million shillings from Luweero, also testified that the lottery game Kaja greatly impacted his life. “I bought a plot of land and started modernizing my farming, all this courtesy of MTN Kaja Lottery where I subscribed to *178# and for a charge of 220/- was lucky to win the 10/- million shillings”, Eliab happily remarked.

Kaja is an exciting lottery game launched by MTN Uganda in partnership with SMS2bet. Customers who subscribe to this lotterygame are entered into a daily draw to winairtime and several cash prizes of up to 40 million shillings. The Kaja lottery game was launched on the 28^th August 2014 and has to-date registered over 10,000 winners,representing 10% of the total number of MTN customers that have registered for this lottery game.

All customers who play Kaja stand an equal chance of winning. Winners arenotified by SMS while thebig cash prize winners are contacted by the telephone number 0776 986 178.

Draws are conducted daily in which one MTNnumber is randomly drawn. Any customer who plays Kaja and whose mobile number constitutes 8 digits of the drawn number reading sequentially from right to left will win the grand prize of 40 million shillings. Any customer who matches 7 to 2 digits of the drawn number reading from right to left also wins one of the other different cash and airtime prizes.

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Two members of Qalaa Holdings’ executive leadership team are chosenby Paris-based Think Tank, Institut Choiseul for theirprestigious annual listing of young Africans who will play a major role in the future development of the continent

Qalaa Holdings (CCAP.CA on the Egyptian Exchange, formerly Citadel Capital), a African leader in infrastructure and industry, is pleased to announce that its Co-Founder and Managing Director, Hisham El-Khazindar and its Managing Director for the Transportation Division, KarimSadekhave ranked highly on JeuneAfrique’sannual “Top 100 African Leaders Under the Age of 40,” a list compiled by Paris-based Think Tank, Institute Choiseul.

El-Khazindar who is also a World Economic Forum Young Global Leader placed third on the prestigious listing. He co-founded Qalaa Holdings in 2004 with Ahmed Heikal and has since played an instrumental role in growing the firm into the largest private equity investor in Africa and the Middle East with investments of US$ 9.5 billion spanning 15 countries and 15 industries.

“It is an honor to be ranked and recognized amongst such an influential list of young Africans. We have always seen vast potential in African economies,” said El-Khazindar. “But in order for these economies to achieve their full potential we must bridge the knowledge gaps and provide more opportunities for youth to lead the way with new ideas and initiatives. Education will be key; from providing youth with the opportunity to pursue international-standard higher level education to ensuring access to public education and vocational training,” he added.

“Africa has outstanding macro fundamentals—including what will become the world’s largest and fastest-growing working age population by 2040—and a new generation of leaders in business and government are working to reshape the economic and political landscape. I am proud to be identified alongside a group of people who are all working to help African economies achieve their full potential,” said Sadek, who has overseen the successful turnaround of Rift Valley Railways (RVR), the national rail operator of Kenya and Uganda and a unit of Qalaa Holdings in the East African transportation and logistics sector.

The “Choiseul 100 Africa” is an annual listing based on a study conducted by the Institute Choiseul whichprovides a relevant perspective on Africa’s economic leaders and includes up-and-coming business leaders, successful entrepreneurs, investors, senior executives and high-potential managers of successful companies. The French institute describes the young African leaders as “individuals who embody the dynamism and renewal of a whole continent and carry the hopes of an entire generation.”

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Unilever Uganda has today educated over 100 women in a move aimed at promoting proper nutrition, hygiene, health and personal care.

As an incentive, the ladies were rewarded with a wide range of Unilever products to improve hygiene and wellbeing in their homes.

Unilever Uganda has been at the helm of driving the health and nutrition message through storming various markets, supermarkets, hospitals, ladies clubs and washing bays across the country. These drives have given the public an opportunity to not only win exciting prizes but most importantly getting them to experience Unilever’s brand portfolio through trial and wash demos.

Dr.Miria Matembe, agender and equality activist who attended the sensitization campaign today commended the partnershipbetweenUnilever and NtindaLadies Clubs saying that the initiative is not only driving the health and nutrition agenda but also providing a platformfor knowledge and skills transfer.

This she added would be instrumental in enabling the Ladies get an additional source of income to support their families.

She also urged the women to have a goal and purpose in life that would enable them to contribute positively to building the nation based on social justice through their homes by raising upright citizens of Uganda.

The Unilever Uganda team using their wide range of products; Omo Fast Action, Royco, Geisha and Blue band, demonstrated the proper usage of these products to the ladies in homecare and wellbeing of their families by preparing healthy meals and washing clothes.

“Unilever Uganda has been a partner in the enhancement of Ugandan homes and businesses for over sixty years. As a result, we can confidently say that we are more than just a manufacturer of products. We are part ofthe Ugandan families, the Ugandan heritage and an enabler of better and easier living and will continue to do so,” said Unilever Uganda Marketing Manager, Diana Nabukenya.

During the sensitization campaign, members of the Ladies’ Club also showcased a variety of hand made products. The Ladies Clubs meet weekly to discuss their saving schemes and how to invest their money in various activities that yield dividends to members. They also provide a platform for educating and imparting various skills to support their families and homes.

Unilever Uganda has embarked on a drive to reward its consumers across the country in addition to other activities such as mall activations, in-home sampling, washing bay sampling hospital sampling and Ladies’ Club Sampling. The activities are aimed at demonstrating to Ugandans the superiority of their product portfolio, engaging and educating them on how best to use while giving the consumer a chance to win various prizes.