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Técnicas Reunidas will supply two hydrogen reformers for the Ethiopian fertiliser plant of Nigerian billionaire Aliko Dangote, a project now costed at over $4 billion.
Aliko Dangote says he will sell at least 10% of his Ethiopian fertiliser venture on the local exchange, even if Prime Minister Abiy Ahmed disagrees.
Mohammed Al-Amoudi has instructed MIDROC's chief executive to lift the workforce from about 80,000 to between 100,000 and 120,000 employees.
Tewodros Ashenafi was the local partner on Ethiopia's largest privatisation, a $1.4 billion tobacco deal, and co-owns Ambo with Coca-Cola.
MIDROC has ordered Austrian machinery for a plant treating 1.25 million tonnes of ore a year, eight years after Ethiopia suspended its main mine.
Nigeria's United Capital Group has secured Ethiopia's first investment banking licence ever issued to a foreign institution, committing over $1.5 million to launch local operations.
Mohammed Al-Amoudi’s fortune rises $2.2 billion after Svenska sale, pushing his net worth toward $8 billion.
Aliko Dangote signs $2.5 billion fertilizer deal with Ethiopia to cut costly imports, boost food security and expand Africa’s farm output.
Ethiopian businessman Belayneh Kindie launches 100 locally assembled electric buses in Addis Ababa, advancing Ethiopia’s clean transit and electric mobility goals.
These business leaders are not just accumulating wealth; they are pivotal players in Ethiopia’s transformation.
The move aims to strengthen regional financial inclusion and boost economic activity across borders.
The recent uptick in his fortune is mainly credited to the strong performance of his broad industrial investments in Sweden, Saudi Arabia, and Ethiopia.
Zemen Bank, established in 2008, has emerged as a key player in Ethiopia’s financial services industry.
The primary driver behind this surge is attributed to the robust performance of his diverse industrial assets across Sweden, Saudi Arabia, and Ethiopia.
The $3.6-billion surge in Al-Amoudi’s fortune represents a daily average gain of $10 million throughout the year.