Qalaa Holdings Chairman Ahmed Heikal stressed the importance of infrastructure development for Africa in remarks this weekend in Sharm El Sheikh, describing it as the “key” to unlocking the continent’s “significant growth potential” and capitalizing on its wealth of strong growth drivers, such as rapid population growth levels and large consumer markets. Speaking in an on-stage interview at the 2017 Africa and the World conference, Heikal said that “investors are beginning to realize not only the necessity of infrastructure investments, but also the potential for their high returns.” He explained that in Egypt, which is already beginning to reap the fruits of the government’s “bold economic reform program,” Qalaa Holdings has “successfully built 27 businesses from scratch over the past decade by identifying trends in our market and riding them in a way that translates into growth for our companies.” The company has focused on transport and logistical projects, as well as others such as the Egyptian Refining Company. ERC is reportedly set to begin production in September 2018.

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