Ethiopia: Midroc's Strategic Restructuring Yields Strong Results

By Tsegaye TILAHUN

-Creates 79,000 jobs

- MIDROC Investment Group announced that its recent strategic restructuring has brought significant progress, particularly in profitability, over the past five years.

The Group launched yesterday a five-day exhibition at Millennium Hall to showcase achievements, strengthen business and community linkages, and display products and services from all MIDROC companies. The exhibition features panel discussions with economic experts, networking opportunities, and product showcases, and is open to the public.

Opening the event, MIDROC Investment Group CEO Jamal Ahmed said the internal restructuring has generated immediate positive outcomes. "Our companies, once challenged by losses and debt accumulation, are now among the country's top taxpayers and exporters," he noted.

He added that recent macroeconomic reforms have created a favorable environment for growth, enabling MIDROC companies to record remarkable achievements. The Group has been contributing to national development by boosting foreign exchange earnings, driving import substitution, introducing new technologies, and creating some 79,000 jobs across different sectors.

According to the CEO, strong leadership has helped sustain profitability, positioning MIDROC as one of Ethiopia's most competitive business groups. He also underlined the Group's role in supporting efforts to curb inflation.

Founded by Sheikh Mohammed Hussein Ali Al-Amoudi, MIDROC Investment Group is one of Ethiopia's largest conglomerates with major interests in agriculture, agro-processing, manufacturing, mining, hospitality, construction, real estate, and commerce.

Read the original article on Ethiopian Herald.

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