the Holding Company for Metallurgical Industries the Chemical Industries Holding Co. These are the Cotton and Textile Industries Holding Co. The ministry is in charge of eight holding companies. He explained that the informal sector inhibits keeping record of the economy’s size and real growth rates and thus cripples plans of sustainable development stressing that all state financial institutions should concern their efforts on formalizing the informal sector.Īnalysts suggested that Badawi was selected for the role because of his large experience in managing holding companies, securities, and dealing with stock exchanges around the world. Badawi said that the issue has been one of the top challenges currently facing the economic system in Egypt. In September, El-Masry El-Youm reported his statements on fighting against the informal sector in Egypt. He also worked for the Bank of Bahrain and Kuwait, and the National Bank of Kuwait. Later on, he became the CFO of the Qalaa subsidiary ASEC for Manufacturing and Industrial Projects (Aresco).
The company’s activities are mainly in the Middle East and Africa.īadawi started his banking career at the Commercial International Bank (CIB) where he served as assistant manager of the corporate banking group. (Qalaa Holding) which is a private equity and venture capital firm specializing in growth capital, turnarounds, leveraged buyouts, consolidations, industry roll-ups, greenfield sites, and distressed investments. It was established in 2008 with an authorized capital of LE 40 billion and issued capital of LE 5 billion.īefore assuming that position in May 2016, Badawy was the managing director of Citadel Capital S.A.E. The firm provides finances for the infrastructure, real estate, healthcare, sectors amongst others. CAIRO - 14 January 2017: Newly appointed Minister of Public Enterprise Khaled Mohamed Ali Badawi known as Khaled Badawy was the CEO of Al Ahly Capital Holding which is the private equity arm of the National Bank of Egypt (NBE).
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