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Billionaire al-Amoudi’s co. investing $41m in 3 Ethiopian farms

Bloomberg | 4 April 2013
Al Amoudi visits his farm in Gambella, Ethiopia (Feb. 11, 2011)

By William Davison

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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