Billionaire al-Amoudi’s co. Investing $41m in 3 Ethiopian Farms

 By William Davison (Bloomberg) —  Farms were bought from govt for  1.1b birr ($59.4m), General Manager of Horizon  Plantations Ethiopia Jemal Ahmed tells reporters in  Ethiopia’s capital, Addis Ababa.

* Farms are Upper Awash Agro Industry Enterprise, Gojeb
Agricultural Development Enterprise and Coffee Processing
and Warehouse Enterprise: Jemal
* 400m birr to be invested over 2 yrs to double production to
50,000 mt in Upper Awash, country’s largest orange grower
* NOTE: Ethiopian-born Saudi citizen Mohammed al-Amoudi is
majority owner of Horizon Plantations Ethiopia through his
Midroc Ethiopia Group

* Al-Amoudi is single largest investor in Ethiopia and his
current net worth is estimated at $10.4b, according to the
Bloomberg Billionaires Index

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