African Hidden Champion (AHC), an initiative of Africa Foresight Group, German Development Finance Institution (DEG), and the African Development Bank held its inaugural dinner and dialogue in North Africa, Cairo, Egypt on 19th June 2023. This is according to a press release by AHC on 20th June.
Pix: Emna Zayani – Karm Solar, Ninel Musson – Africa Foresight Group & Menna Shams Al Din – Edita Foods
AHC is the fastest-growing platform for showcasing Africa’s best companies. The event is part of a series of regional events that the African Hidden Champions (AHC) initiative is organizing in key business hubs across Africa in 2023.
The event gathered notable and reputable firms from across Egypt including 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.
Pix: Ms. Yasmin Kumi – AHC Co – Founder & CEO Africa Foresight Group with Dr. Ghada Abuzaid – Principal Industrial Program Coordinator AfDB
CEO of Cleopatra Hospitals Group, Dr. Ahmed Ezz El-Din, Co-Founder of AHC and CEO of Africa Foresight Group, Yasmin Kumi, and the Principal Industrial Program Coordinator of the African Development Bank Group, Dr. Ghada Abuzaid were present for the event, as Dr. Ghada Abuzaid gave an elevating speech that inspires hope across Africa.
AHC was conceived in 2020 and currently has more than 25 dynamic African firms in its network according to the press release, supporting them by telling their stories, exposing them to new markets, and providing technical assistance.
Pix: Dr. Ghada Abuzaid – Principal Industrial Coordinator AfDB, Mr.Haitham Taha – CEO Electroled & Dr. Alaa Isawi – Chairman Arab Businessmen and Investors Union
Yasmin Kumi, AHC Co-Founder and CEO Africa Foresight Group said “We are honored to be hosting this regional forum with key players in the business sector of the country and the North African region. We believe that African companies have the necessary leadership capacity and know how to conquer global markets.”
Representative of DEG, Wael Akari pointed out that North Africa is a major part of the growth seen in the African economy and it is no surprise that various AHC companies are established 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
The CEO of Cleopatra Hospitals Group, Dr. Ahmed Ezz El-Din noted the importance of the initiative’s name as it illustrates the group’s unstaggering dedication to excellence and 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,” he added.
While giving his speech, The Principal Industrial Program Coordinator at the AfDB, Dr. Ghada Abuzaid welcomed everyone to the event and appreciated them for honoring their invitation. He said, “The AfDB is indeed excited to have recently become a co-partner of the initiative that is led by Africa Foresight and in partnership with DEG.”
He talked broadly on two subjects which were the brand image of Africa being limited and calls for improvement, as well a narrative that AfDB supports is about “Africa being the continent of potential”.
According to Dr. Abuzaid, Africa is a land of many opportunities and the narrative that AfDB supports is about “Africa being the continent of potential” and team up with partners to realize the potential.
He noted that AfDB is leading a mission of spurring economic development with focused support to the private sector.
“We have a private-sector portfolio of $15 billion. AfDB supports the acceleration of industrialization and private sector development in North Africa (as in other regions) through several flagship programs: catalysing funding into transformative industrial projects (We will invest up to US$ 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.”
The press statement disclosed that the cohort of successful Hidden Champion enterprises will be revealed by AHC in the upcoming months.