MIDROC Ethiopia Restructures

26 June 2020

Restructuring Prepares Mohammed’s Holdings for the Future

Mohammed Hussein Al Amoudi has announced a number of changes to the executive senior management of his companies, as well as some significant restructuring, in order to prepare MIDROC in Ethiopia for the challenges of the post-COVID-19 world and the continued modernisation and liberalisation of the Ethiopian economy.

Jemal Ahmed, formerly solely responsible for the agricultural sector within the Group, will now be Chief Executive Officer of 21 of the 30 leading companies in the Group covering not only Agriculture & Agro-Processing but Manufacturing, Commerce and Mining. This offers a coordinated executive approach to the most significant elements in the MIDROC Group (Ethiopia) according to scale and revenue.

The Four Divisions in this Core Group of Companies will each have a Deputy CEO answerable to Mr. Ahmed. Two of these are former Government officials, Dr. Bekele Bulado, former Minister of Trade, and Ato Esays Kebede, former Director of the Ministry of Agriculture, who have been appointed as Deputy CEOs of the Commerce and Agriculture & Agro-Processing Divisions respectively

Abennet Gebre-Meskel is CEO of MIDROC Ethiopia PLC (Mohammed’s main company in the Group), representing the Chairman in relation to important national initiatives as well as overseeing companies in the Hotel, Construction and Property sectors. He will continue to lead Pharmacure PLC in the pharmaceuticals sector. Haile Asegide is CEO of both Derba Cement and the United Auto Company. Dereje Yesus Work is CEO of the NTO Rainbow and Exclusive corporations which are primarily in the Tourism sector.

Mohammed remains in full ultimate authority as Chairman of the MIDROC Group in Ethiopia and all four senior CEOs answer to him directly as shareholder.

This information provides background on Mohammed Hussein Al Amoudi's business interests, direct and indirect philanthropic and academic grants and his personal honours. Occasionally links to new or updated business websites may be provided. However, these updates are not intended to provide up to date or comprehensive information about Mr Al Amoudi's business interests. Any links to websites that represent the philanthropic, academic or commercial interests are provided on this website for ease of reference only.

 

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