BEAU PLAN, Mauritius, October 8, 2024 – Adenia Partners (“Adenia”), a leading private equity firm focused on growth opportunities in Africa, has extended its presence in North Africa by establishing on-the-ground representation for the firm in Egypt. The location is Adenia’s eighth on the continent, reflecting its deep commitment to responsible investing and a sustainable Africa.
The firm has hired Cairo-based Heba Hakky as Principal to lead its origination efforts as it seeks to capitalize on the growing investment opportunities in Egypt and surrounding countries. The expansion follows the closing of Adenia’s most recent over subscribed flagship fund, Adenia Capital V, in April, which is the firm’s first completely pan-African vehicle.
Adenia has expanded its footprint across Africa with each successive fund. The new location is the firm’s second in North Africa, following the opening of its Morocco office in 2021. The move is driven by Egypt’s dynamic economic landscape, which offers a very large consumer base and significant investment opportunities across multiple sectors.
“Egypt is one of the largest economies on the continent with great investment potential, so it is a natural focus for us as we extend our geographic horizons with our latest fund,” said Stéphane Bacquaert, Managing Partner at Adenia Partners. “It has an expanding consumer base, a young well-educated population, and a stable economic and financial environment with an abundance of interesting and fast-growing businesses. In particular we are seeing some exciting opportunities in consumer goods, healthcare, education and financial services.”
Hakky brings over 16 years of experience in investing and management roles across private equity, corporate investments and financial services, including roles at Actis, Ezdehar Management and Shari Holding. Most recently, she served for three years as theEgypt Managing Director of a tech-enabled lender focused on small and medium-sized enterprises in Egypt and Jordan, where she was also a key member of the senior leadership team. Hakky holds an MBA from London Business School.
“We are thrilled to welcome Heba to the team as we expand our footprint to Egypt,” continued Bacquaert. “Her extensive network and well-informed perspective on the local business landscape will be invaluable as we look to bring our tried and tested approach to this new market.”