Oromos Should Boycott MIDROC Ethiopia Products; Force Shut Down Gold Mining in Oromia! Albasa Dagaga February 20, 2016 Mohammed International Development Research and Organization Companies (MIDROC) MIDROC Companies are owned by the Saudi billionaire, Sheikh Mohammed Hussein Ali Al- Amoudi. Al-Amoudi Companies are operating in Africa, Europe, the Middle East, and the United States of America i . Who is Mohammed Hussein Al-Amoudi? Mohammed Hussein Ali Al-Amoudi is a Saudi Arabian billionaire businessman. Al-Amoudi was born July 21, 1946 from his mother Rakiya Mohammed Yassin (Wollo) and his father Haji Hussein Al-Amoudi (Saudi Arabia). The 69-year-old is close to the Saudi royal family. He was ranked by Forbes magazine as the world’s 63rd-richest person and was worth $12.3 billion in 2012. In early March 2015, had his net worth estimated at Forbes at $10.8 billion. Mohammed Al-Amoudi’s estimated net worth declined to $8.4 billion as of February 2016, according to Bloomberg, a relative fall in net value was linked to the global fall in oil prices at the time of estimation. This son of Saudi father and Ethiopian mother, Al-Amoudi started investing in Sweden in the 1970s. His construction company MIDROC scored contract to build Saudi Arabia’s nationwide underground oil storage complex in 1988 estimated at $30 billion project. This solidified his fortune. Today the Ethiopian economy is controlled by two large major conglomerates: his MIDROC (Mohamed International Development Research Organization Companies) and EFFORT (The Endowment Fund for the Rehabilitation of Tigrai). In addition to his economic empire, Al-Amoudi seems to have built a sophisticated security apparatus akin to shadow government inside Ethiopia--Trust Protection and Personnel Services Pvt. Ltd. Co. (TRUST). According to Al-Amoudi, TRUST is “engaged in providing protection and other professional as well as personnel services on contract basis. It also renders services related to customs clearing and forwarding services, as well as safety and modern alarm services for interested organizations. The company started its service activities with the aim of modernizing protection and personnel services within companies in Ethiopia.” Only a country ruled by lawless rebels whose primary aim is robbery of that country will allow a foreign national (Saudi Arabian billionaire) to form such a sophisticated security apparatus inside their country.
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Oromos Should Boycott MIDROC Ethiopia
Products; Force Shut Down Gold Mining in
Oromia!
Albasa Dagaga
February 20, 2016
Mohammed International Development Research and Organization Companies (MIDROC)
MIDROC Companies are owned by the Saudi billionaire, Sheikh Mohammed Hussein Ali Al-
Amoudi. Al-Amoudi Companies are operating in Africa, Europe, the Middle East, and the
United States of Americai.
Who is Mohammed Hussein Al-Amoudi?
Mohammed Hussein Ali Al-Amoudi is a Saudi Arabian billionaire businessman. Al-Amoudi was
born July 21, 1946 from his mother Rakiya Mohammed Yassin (Wollo) and his father Haji
Hussein Al-Amoudi (Saudi Arabia). The 69-year-old is close to the Saudi royal family.
He was ranked by Forbes magazine as the world’s 63rd-richest person and was worth $12.3
billion in 2012. In early March 2015, had his net worth estimated at Forbes at $10.8 billion.
Mohammed Al-Amoudi’s estimated net worth declined to $8.4 billion as of February 2016,
according to Bloomberg, a relative fall in net value was linked to the global fall in oil prices at
the time of estimation. This son of Saudi father and Ethiopian mother, Al-Amoudi started
investing in Sweden in the 1970s. His construction company MIDROC scored contract to build
Saudi Arabia’s nationwide underground oil storage complex in 1988 estimated at $30 billion
project. This solidified his fortune. Today the Ethiopian economy is controlled by two large
major conglomerates: his MIDROC (Mohamed International Development Research
Organization Companies) and EFFORT (The Endowment Fund for the Rehabilitation of Tigrai).
In addition to his economic empire, Al-Amoudi seems to have built a sophisticated security
apparatus akin to shadow government inside Ethiopia--Trust Protection and Personnel Services
Pvt. Ltd. Co. (TRUST). According to Al-Amoudi, TRUST is “engaged in providing protection
and other professional as well as personnel services on contract basis. It also renders services
related to customs clearing and forwarding services, as well as safety and modern alarm services
for interested organizations. The company started its service activities with the aim of
modernizing protection and personnel services within companies in Ethiopia.” Only a country
ruled by lawless rebels whose primary aim is robbery of that country will allow a foreign
national (Saudi Arabian billionaire) to form such a sophisticated security apparatus inside their
country.
MIDROC Ethiopia is a private investment company with about 70 group and affiliate
companies that are engaged in multifaceted business sectors across the country.
MIDROC Ethiopia Technology Groupii
Al-Amoudi’s Ethiopia Business Empire
After TPLF controlled Ethiopia, Al-Amoudi moved to Ethiopia and started buying several
companies from TPLF using government privatization program. In 1994, Al- Amoudi created
MIDROC Ethiopia. He now has substantial business interests and owns a broad portfolio of
businesses in construction, energy, agriculture, mining, hotels, healthcare and manufacturing,
security firm amongst others; this makes his business empire one of two controlling the entire
economic activity of Ethiopia, the other being EFFORT.
MIDROC operating in Ethiopian are not totally financed from al-Amoudi’s accounts. He usually
secures loan from local banks. This enables him to transfer most of the investment risks to the
local banks. For example, from 1998-2000, MIDROC was awarded Ethiopian government
owned enterprises by acquiring the Lega Dembi Gold and Kenticha Tantalum mines, tea
plantations, agriculture enterprises and a soft drink company (Pepsi Cola). He borrowed from
local banks in Ethiopia in order to partially finance these acquisitions. MIDROC’s total
borrowing from the Ethiopian local banks is not publicly known. However, one reliable source
indicates, in 2008 MIDROC secured Birr 200 million ($21 million USD) from the Development
Bank of Ethiopia (DBE) for its Derba-Midroc Cement factory. In July 2012 MIDROC borrowed
942 million Birr ($52 million USD at the then exchange rate) from the CBE.
MIDROC paid Public Enterprise Supervising Agency, 860 million birr Ethiopia for one of the
country's biggest farms, Upper Awash Agro-Industry Enterprise. The Al-Amoudi-owned Saudi
Star Agricultural Development Plc plans to develop up to 500,000 hectares (1,200,000 acres) of
Ethiopian land for sugar, edible oil, and grain production. In March 2011, Saudi Star announced
a further investment of $2.5 billion in Ethiopian rice projects. Some 10,000 hectares have been
taken up in 60-year leases and the company plans to rent an additional 290,000 hectares. The
company had reportedly purchased $80 million in equipment from Caterpillar Inc.
In this article, I will highlight the negative impact of one of Al-Amoudi’s enterprises on Oromia and
show why the enterprise must be shut down as soon as possible through people revolt.
MIDROC Gold Mine Pvt. Ltd. Co. (MGOLD)
MIDROC Gold Mine Pvt. Ltd. Co. (MGOLD) is one of about 30 major corporations with about
70 group and affiliate companies owned and operated by the Saudi billionaire Al-Amoudi.
MGOLD is engaged in Mining and Exploration activities mostly in Oromia region. MIDROC
Gold Mine PLC is led by the CEO who is also the General Manager. The company has four