Ethiopia is the birthplace of Mohammed Hussein Al Amoudi. His investments in Ethiopia initially concentrated on gold mining but he rapidly diversified first into the industrial and services sector and then into investments that supported the Growth and Transformation Plan for national development.
Mr Al Amoudi is now the largest foreign investor in Ethiopia. MIDROC Africa has interests in property, steel, construction, air transport and manufacturing and also owns the five-star Sheraton Addis. He has also participated in privatisation programmes by reinvesting funds in the modernisation of state assets before developing them further on his own account as private sector assets.
Agriculture makes up around 46% of Ethiopia’s GDP and 80% of its employment. The Sheikh, through his investments, has played an essential role in creating agribusinesses, sustaining employment, increasing export capacity and, more recently, improving food security.
Most of the profits from these enterprises are ploughed back into the country and major associated investment in education and skills training have taken place. The Sheikh has received an Honorary Doctorate in Philosophy from Addis Ababa University.