Our Mission, Vision, Values and Leading Goal
The mission of MIDROC Ethiopia is to be a prime development and investment parent company for MIDROC Ethiopia’s companies with the central role of establishing, developing and promoting subsidiary and affiliate companies in all sectors thereby endeavouring to contribute for the economic development of Ethiopia.
The vision of MIDROC Ethiopia is to become a leading economic and social development conglomerate partner to Ethiopia from private sector in economic and social development spheres, with its diversified investment and business activities.
MIDROC Ethiopia’s values naturally emanate from MIDROC Ethiopia’s commitment to development motto that include: Corporate Social Responsibility (CSR), i.e., doing business with high regard for social development partnership, customers satisfaction, promotion of employees’ empowerment and buy-in, professional excellence, corporate branding and image, integrity and ethics, respect and trust, quality and competitiveness, and team work spirit and cooperation.
The leading goal in the coming three years is to give the owner sound return on capital invested and create a corporate group that unfolds real economic and social partnership that play substantial role on its part in fulfilment of the country’s successive development efforts.
MIDROC Ethiopia Group: Pioneering in Multifaceted Business Ventures
MIDROC Ethiopia Group is one of the world-wide MIDROC Group Companies owned by Sheikh Mohammed Al-Amoudi. These Group Companies are operating in Africa, Europe, the Middle East, and the United States of America.
Each of the MIDROC Ethiopia Group Companies is legally established and autonomous.
Sheikh Mohammed Al–Amouidi came to Ethiopia, at a time when Ethiopia embarked upon ambitious economic development plans. Contrary to the expectations of all private foreign investors for prevalence of stability in any country before moving in for business, Sheikh Mohammed did not wait for the creation of an “enabling environment” and the maintenance of full peace and stability at the time when the country was trying to pull out of the situation as a war ravaged nation.
He had to respond to the call of his Motherland – Ethiopia – as immediately as the circumstances then demanded.
He decided to contribute to the transformation and development effort through investing in various sectors of the country’s economy. His investments, which have significant contributions to the foreign direct investments (FDI) have started to bear fruit. All his investment decisions are reflections of his resolute commitment to development of the economy and the well being of Ethiopia and its people.
“MIDROC Ethiopia Group is the leading private investment Group engaged in multifaceted investment undertakings that have proven to make significant contributions to the development of the country’s economy.”
“Ethiopia means so much to me that even my friends wonder about my investment decisions in the country. When I invest in Ethiopia, my decisions to invest are based on what I feel in my heart for my motherland. All my other investment decisions in the rest of the world are based on calculated risks and benefits.”
“… It is our national duty and solemn responsibility, to fully commit ourselves to develop Ethiopia and free our countrymen from the shackles of abject poverty and under-development.”
MIDROC Ethiopia Investment Group to date has 80 plus group and affiliate companies operating in multifaceted business ventures including:
- Agriculture & agro-industry
- Hotel and Tourism
- Oil and Gas Distribution
- Real Estate Development
- Transport (including air transport)
- Trading and Commerce
- Education and Training.
- Management Services
MIDROC Ethiopia Plc through its Finance Department has carried out various investments and financing activities for over the past two decades.
It has been dealing with the sources of funding and the capital structure of companies as well as allocation of financial resources, its primary goal being to maximize or increase the value of the company to the shareholders. Besides, it is concerned with the setting of criteria about which value-adding projects should receive investment funding, and whether to finance that investment with equity or debt capital. Working Capital Management in connection with the short-term financing of current assets and current liabilities has been also its main focus in managing cash, inventories, and short-term borrowing.
Having taken the above into consideration, the following have been, in brief, the major performances of MIDROC Ethiopia since its establishment:
- Establish new Companies; acquire companies from government during the openly announced privatization of publicly owned businesses, or joint investment with the government, or negotiation with the government, and from private businessmen,
- Facilitate Funding and Financing for new or acquired companies;
The Total Investment of Funds made by its owners alone since the inception of MIDROC Ethiopia Plc up to June 30, 2016, for various projects and company establishment amounts to well over Birr 50 (fifty) billion. This figure does not include the investment made by individual companies. It is very well known that all the MIDROC Group companies have created direct and indirect job opportunities for over 100,000 citizens in various economic sectors in Ethiopia.
It is worth noting here that companies of the Investment Group pay taxes timely for the economic and social development of the society. The implementation of modern information technology in MIDROC contributed much to tax management, effective management of information system and good corporate governance.
Everybody in the Investment Group is making concerted efforts for the implementation of Sheikh Mohammed’s noble vision and high ambition by maintaining and living by the Group’s motto “Committed to Development” directed towards the economic growth and industrial transformation of Ethiopia.