Ethiotime1
Mohammed Al-Amoudi
The excitement and magnificence encompassing a return home After a prolonged absence, the wealthy Saudi-Ethiopian businessman Mohammed Al-Amoudi is preparing to come back to Ethiopia. Al-Amoudi, renowned for his significant influence on the Ethiopian economy, is scheduled to arrive in the initial week of Ethiopia’s forthcoming new year to participate in a family wedding.
The Sheraton Addis hotel has made thorough arrangements in preparation for Al-Amoudi’s homecoming. One of these arrangements involves procuring and transporting the first-ever electric Rolls-Royce model, the Rolls-Royce Spectre, to Addis Ababa. Known for its state-of-the-art features and luxurious facilities, the Spectre represents a milestone in the incorporation of electric vehicles. With a price tag of $600,000, this car symbolizes the esteemed position of Al-Amoudi’s return and the progress MIDROC is making through the adoption of cutting-edge technologies.
A Rolls-Royce Spectre, valued at half a million dollars
Mohammed Al-Amoudi’s influence and contributions have left a significant mark on Ethiopia, particularly through his investments in various sectors including agriculture, mining, real estate, and hospitality. One of his most notable achievements is the development of the Sheraton Addis, a symbol of luxury and sophistication in the country.
Al-Amoudi’s return signifies a momentous occasion for Ethiopia, showcasing the enduring ties he upholds with the country despite his prolonged period of being away.
His absence stemmed from his detainment in Saudi Arabia, where he was held for more than a year as part of the nation’s crackdown on corruption, before being released in January 2019.
The concerns raised during his detention were palpable among his business partners and the Ethiopian populace, given his substantial investments and contributions to the nation’s progress.
In the interim, changes occurred within MIDROC, his Ethiopian investment conglomerate, with Abnet G. Meskel taking the helm as CEO in June 2020, only to be succeeded by Jemal Ahmed later on, ushering in a new era for the company.
Mohammed Al-Amoudi’s financial status and Forbes ranking have been updated, with his wealth now estimated at $8.1 billion, solidifying his position as one of the most affluent individuals of African origin. Despite his absence, his wide-ranging investment portfolio has shown sustained growth and success.
Source – Addis Insight
