Chinese investors rush into Africa after Arab Spring
European and British investors are "standing by the sidelines" in the aftermath of the Arab Spring, as China starts pouring money into Africa, according to the continent's biggest private-equity group.
Citadel Capital managing director Hisham El-Khazindar admitted Arab Spring nations like Egypt had to prove they were introducing economic reforms, tightening security and had implemented a political roadmap before Western nations would reinvest.
However, Mr El-Khazindar said "the Chinese don't seem to have waited", as they target a region with economic growth prospects "unmatched in most parts of the world".
Cairo-based Citadel is transforming itself from a buyout group using other investors' funds to an equity owner of assets in its own right.