A Conglomerate Rewiring Ethiopia's Economy

MIDROC Investment Group, one of Ethiopia's largest conglomerates, is powering the nation's industrial rise, spanning agriculture, mining, and construction, while advancing self-sufficiency in tea, poultry, and tire manufacturing.

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Owned by Ethiopian-Saudi billionaire, Sheikh Mohammed Hussein Ali Al-Amoudi, MIDROC Investment Group is one of Ethiopia's largest and most diversified conglomerates. The group operates a six-cluster empire in sectors that span agriculture and agro-industry, mining, manufacturing, commerce, construction and real estate, and hospitality. “Sheikh Mohammed Hussein Ali Al-Amoudi has a special heart for Ethiopia and is a pioneer in many investments in the country,” says Jemal Ahmed, CEO of MIDROC Investment Group and an investor himself.

When Ethiopia began transitioning to a market economy in the 1990s, MIDROC stepped in to revive the country's failing state enterprises. The job, in essence, was nation-building through business. “Al-Almoudi invested in poorly performing public companies not for quick returns, but to save jobs and rebuild productivity,” says Ahmed.