Mohammed Al Amoudi is the richest black man in the World

Richest Rappers 2011-Forbes Wealthiest Hip Hop Artists: Mohammed Al Amoudi

2036-07-07T14:48:00.000-07:00

Ethiopian billionaire wins libel action

in UK

An Ethiopian-born billionaire has won £175,000 in libel damages over allegations he had hunted his daughter down so she could be stoned to death.

Mohammed Hussein Al-Amoudi was born in Ethiopia, but now spends his time at homes in central London, Surrey and Saudi Arabia.

The article was published on the online news website Ethiopian Review.

Judge Richard Parkes QC said it was difficult to imagine more serious allegations.

The site's publisher and editor-in-chief, Elias Kifle, had denied liability.

The judge said that instead of apologising Mr Kifle had repeated the libel and abused Mr al-Amoudi and his lawyers.

The High Court in London heard Mr Kifle's response to the initial complaint was: "Here is my formal statement: Screw yourself".

The court heard Mr Kifle then went on to describe Mr al-Amoudi as a "scumbag bloodsucker" who was "funding al-Qaeda".

Mr al-Amoudi, 65, gave evidence during the libel trial that he was completely opposed to all forms of terrorism.

The judge said the site alleged that Mr al-Amoudi had "disgracefully and callously" married off his daughter Sarah, then 13, to an elderly member of the Saudi royal family as a gift.

'Wholly untrue'

The article went on to claim that Mr al-Amoudi was probably responsible for murdering his daughter's lover in Iraq and had hunted his daughter and granddaughter across London in an attempt to ensure they were stoned to death in Saudi Arabia.

Mr al-Amoudi told the court he was horrified by the "wholly untrue" article which could be seen by visitors to the website between January and August 2010, when it was finally taken down.

Mr al-Amoudi, who has a son and seven daughters, said he had a normal relationship with Sarah, who was not married.

He said she had completed a business administration degree in the UK.

Assessing damages, the judge said: "The claimant is not, I judge, a man who wears his heart on his sleeve.

"But his distress as he described the effect of the article on himself and on his family was evident to me, and the more so because, as it seemed to me, he was doing his best to preserve his composure."

Mr al-Amoudi, who was in the top 50 of Forbes magazine's 2009 rich list, is believed to have made his money in construction, oil refineries and mining.

Mr al-Amoudi, who is of mixed Ethiopian and Arab heritage, is sometimes described as the world's richest black man.

He was recently reported to be financing the building of Saudi Arabia's first car factory.

Richest Rappers 2011-Forbes Wealthiest Hip Hop Artists:

1. Sean "Diddy" Combs

Net Worth $475 Million -(as of March 2011)

May 2010 to May 2011 Earnings according to Forbes: $35 Million

May 2009 to May 2010 Earnings according to Forbes: $30 Million

Formerly Known as Puff Daddy. Diddy's business ventures, along with his career as a rapper, made him the richest rapper on the planet, built fortune chiefly through clothing line Sean John, record label Bad Boy and Ciroc Vodka. Acting gigs, television shows and guest appearances add to coffers. he told Forbes in 1999: "I'm gonna be bigger than David Geffen." Not there yet.

2. Shawn " Jay-Z" Carter

Net Worth: $450 Million-(as of March 2011)

May 2010 to May 2011 Earnings according to Forbes: $37 Million

May 2009 to May 2010 Earnings according to Forbes: $63 Million

99 Problems rapper and Beyonce's husband sold Rocawear clothing label for $204 million in 2007; signed 10-year $150 million Live Nation deal in 2008. Now boasts an impressive portfolio,

including shares in the New Jersey nets as well as his input in fashion, music and restaurant businesses. For more on the business of hip-hop, check out Zack's new Jay-Z biography, Empire state of Mind, at http://jayzbook.com

3. Andre "Dr Dre" Young

Net Worth : $125 million-(as of March 2011)

May 2009 to May 2010 Earnings according to Forbes: $17 million

Super producer/rapper, Dr. Dre may not have put out a new album in the last 10 years, but the rapper and producer has reaped the rewards from his business. helped launch carees of snoop Dogg, Eminem, 50 Cent. Expanded wealth with Aftermath record label, Beats headphones and HP laptop line.

4. Curtis "50 Cent" Jackson

Net Worth $100 million-(as of march 2011)

May 2009 to May 2010 Earnings according to Forbes: $8 million

50 Cent has made it to the top five particularly for his business-sawy, as the rapper got a neat nine-figure payout from the sales of Vitamin Water, when it was sold to Coca cola; spent freely on cars, renovations to the mansion formerly owned by Mike Tyson. Cushion remains from catalog, acting gigs and 50 Cent-themed video games, books, clothes and headphones. Future Billionaire? He told Forbes in 2008. "It's probably going to take me 10 years"

5. Bryan "Birdman" Williams

Net Worth: $100 million-(as of March 2011)

Bryan "Birdman" Williams, Co founded Cash Money Records with brother Ronald and inked $30 million distribution deal with Universal in 1998; affiliated Young Money lineup now includes rappers Lil Wayne and Nicki Minaj. Lyrical boasts ("Richer than the richest!") are simply not true. Bird is tie with 50 cent according to Forbes, both estimated to be worth $100 million

Africa’s Billionaires of 2011 – Nigerian Emerges as Africa’s Richest Man

2036-07-05T17:48:00.000-07:00

Africa’s Billionaires of 2011 – Nigerian Emerges as Africa’s Richest Man

March 27, 2011 by Website Admin · 2 Comments

Africa’s Billionaires on the Forbes list made records this year with a few surprises. 6 new Billionaires added to last year’s list of 11 bringing them to 17 Billionaires. Topping the list is Nigeria’s Aliko Dangote who displaced Ethiopian Self Made Billionaire, Mohammed Al Amoudi as Africa’s Richest man.

Although no other countries from Africa added to the list this year, Egypt managed to double its Billionaires from 4 to 8. Nigeria and South Africa also gained 1 new billionaire addition to the list. Overall African Billionaires on this year’s list are worth a combined 71 Billion, with last year’s billionaires alone increasing their wealth by a combined 18 Billion. The biggest increase was experience by our new Richest man, Dangote who made 10.7 Billion, putting him at the top of the list making him number 51 on the World’s Richest list.

Name	Africa Rank	Forbes Rank	Net Worth	Age	Source	Country of Citizenship/HomeTown
Aliko Dangote	1	51	$13.8 B	53	sugar, flour, cement	Nigeria
Mohammed Al Amoudi	2	63	$12.3 B	66	oil	Saudi Arabia/Ethiopia
Nicky Oppenheimer & family	3	136	$7 B	65	De Beers	South Africa
Nassef Sawiris	4	182	$5.6 B	50	construction	Egypt
Patrick Soon-Shiong	5	196	$5.2 B	59	generic drugs	United States/South Africa
Johann Rupert & family	6	219	$4.8 B	60	luxury goods	South Africa
Naguib Sawiris	7	310	$3.5 B	56	telecom	Egypt
Patrice Motsepe	8	336	$3.3 B	49	Mining	South Africa
Onsi Sawiris	9	393	$2.9 B	81	construction	Egypt
Mohamed Mansour	10	595	$2 B	63	Diversified	Egypt
Mike Adenuga	10	595	$2 B	57	telcom, banking, oil	Nigeria
Yasseen Mansour	11	692	$1.8 B	49	Diversified	Egypt
Youssef Mansour	11	692	$1.8 B	65	Diversified	Egypt
Mo Ibrahim	11	692	$1.8 B	64	communications	United Kingdom/Sudan
Christoffel Wiese	12	782	$1.6 B	69	consumer retail	South Africa
Samih Sawiris	13	879	$1.4 B	54	hotels	Egypt
Mohamed Al Fayed & family	14	993	$1.2 B	78	Retail	Egypt

Filed Under: Featured, Money Matters
Tagged: 2011 African Billionaires, Africa's Richest, Africa's Richest Men, African Billionaires, Aliko Dangote,Christoffel Wiese, Egypt Richest, Johann Rupert & Family, Mike Adenuga, Mo Ibrahim, Mohamed Al Fayed & family, Mohamed Mansour, Mohammed Al Amoudi, Naguib Sawiris, Nassef Sawiris, Nicky Oppenheimer & Family, Nigeria's Richest, Onsi Sawiris, Patrice Motsepe, Patrick Soon-Shiong, Richest African, Richest Billionaire, Richest Man in Africa, Samih Sawiris, South Africa's Richest, Sudan's Richest, Yasseen Mansour, Youssef Mansour

Africa’s Billionaires of 2010

March 12, 2010 by AVReporter · 214 Comments

It must be nice to be Ethiopian Self Made Billionaire, Mohammed Al Amoudi, Africa’s Richest man. His wealth grew by a billion despite the economic downturn. It is that time of year again and Forbes has put together a list of the World’s richest. On it are 11 Africans 4 from one family in Egypt, 4 from South Africa, 1 from Sudan, 1 from Nigeria and 1 from Ethiopia.

There was 1 new addition to the list this year, Samih Sawiris, son of Egyptian billionaire, Onsi Sawiris whose other 2 sons are on the list as well. Nigeria did loose a billionaire this year, Femi Otedola who had a bitter disagreement with fellow billionaire Aliko Dangote last year. Despite some major challenges, Dangote still made it on the list as the 9th richest man in Africa.

Photo By Hans Berggren

Africa’s Billionaires (No. 1)

Name: Mohammed Al Amoudi
Net Worth: 10 Billion
Origin: Ethiopia
Age: 65
Fortune: Self Made
Source: Oil
Education: N/A
Forbes World Ranking #64

AP Photo

Africa’s Billionaires (No. 2)

Name: Nassef Sawiris
Net Worth: 5.9 Billion
Origin: Egypt
Age: 48
Fortune: Inherited and Growing
Source: Construction
Education: Bachelor of Science

Forbes World Ranking #127

AP Photo

Africa’s Billionaires (No. 3)

Name: Nicky Oppenheimer & Family
Net Worth: 5 Billion
Origin: South Africa
Age: 65
Fortune: Inherited
Source: Metals and Mining
Education: Bachelor of Arts / Science and Master of Arts

Forbes World Ranking #154

Photo from Forbes.com

Africa’s Billionaires (No. 4)

Name: Patrick Shoo-Shiong
Net Worth: 5 Billion
Origin: South Africa
Age: 58
Fortune: Self Made
Source: Generic Drugs
Education: Bachelor of Arts / Science; Medical Doctor

Forbes World Ranking #154

GIUSEPPE CACACE/AFP/Getty Images

Africa’s Billionaires (No. 5)

Name: Onsi Sawiris
Net Worth: 3.1 Billion
Origin: Egypt
Age: 80
Fortune: Self Made
Source: Construction
Education: N/A

Forbes World Ranking #307

AP Photo

Africa’s Billionaires (No. 6)

Name: Naguib Sawiris
Net Worth: 2.5 Billion
Origin: Egypt
Age: 55
Fortune: Inherited
Source: Telecom
Education: Bachelor of Arts / Science; Master of Science

Forbes World Ranking #374

Photo by 2010 FIFA World Cup Organising Committee South Africa/Getty Images

Africa’s Billionaires (No. 7)

Name: Johann Rupert & Family
Net Worth: 2.3 Billion
Origin: South Africa
Age: 59
Fortune: Inherited
Source: Luxury Goods
Education: Bachelor of Arts / Science

Forbes World Ranking #421

[/caption]
Africa’s Billionaires (No.
Name: Patrice Motsepe
Net Worth: 2.3 Billion
Origin: South Africa
Age: 48
Fortune: Self Made
Source: Mining
Education: Bachelor of Arts / Science; Doctor of Jurisprudence
Forbes World Ranking #421
PIUS UTOMI EKPEI/AFP/Getty Images
Africa’s Billionaires (No. 9)
Name: Aliko Dangote
Net Worth: 2.1 Billion
Origin: Nigeria
Age: 52
Fortune: Inherited
Source: Sugar, Flour, Cement
Education: N/A
Forbes World Ranking #463
Sipa Press/Newscom
Africa’s Billionaires (No. 10)
Name: Mohammed Ibrahim
Net Worth: 2.1 Billion
Origin: Sudan
Age: 64
Fortune: Self Made
Source: Communications
Education: Bachelor of Science/Electrical Engineering; Masters/Electrical Engineering
Forbes World Ranking #463
Arnd Wiegmann / Reuters
Africa’s Billionaires (No. 11)
Name: Samih Sawiris
Net Worth: 1.5 Billion
Origin: Egypt
Age: 53
Fortune: Inherited
Source: Hotels
Education: Bachelor of Science/Electrical Engineering; Masters/Electrical Engineering
Forbes World Ranking #655

Filed Under: Featured, Money Matters
Tagged: African Billionaires, Aliko Dangote, Forbes list, Johann Rupert & Family, Mohammed Al Amoudi,Mohammed Mo Ibrahim, Naguib Sawiris, Nassef Sawiris, Nicky Oppenheimer & Family, Onsi Sawiris,Patrice Motsepe, Patrick Shoo-Shiong, Samih Sawiris

Africa’s 11 Billionaires 2009

March 15, 2009 by AVReporter · 7 Comments

1. Mohammed Al Amoudi

FORBES RANKING: #43

Photo by asplundbild.com

Net Worth:$9.0 bil

Fortune:self made

Source:oil

Age:63

Country Of Citizenship:Saudi Arabia

Residence:Jeddah

Industry: Oil

Education:NA,

M arital Status:married, 8 children

Born in Ethiopia and now a Saudi citizen. Built fortune in construction and real estate in Saudi Arabia before betting on energy. Began investing in Sweden in 1974; owns Svenska Petroleum and Swedish refinery Preem. Has invested more than $2 billion in Ethiopia, from hotels to stevedoring. Hit jackpot with gold mine in the Oromo region of Ethiopia; it now produces 6 tons of gold annually, set to double production by 2010. Owns several properties in London and the U.S. Donated more than $1 million to the Clinton Foundation.

2. Patrick Soon-Shiong

FORBES RANKING: #87

Photo by SPH/The Business Times

Net Worth:$5.5 bil

Fortune:self made

Source: Generic Drugs

Age: 57

Country Of Citizenship:United States

Residence:Los Angeles, CA

Industry: Pharmaceuticals

Education:University of Witwatersrand, Bachelor of Arts / Science, University of Witwatersrand, Medical Doctor

M arital Status:married, 2 children

Dad was a village doctor in China; family immigrated to South Africa during WWII. Finished high school at age 16; was a doctor by 23. Got only half-salary because of apartheid race rules. Joined UCLA faculty 1980; developed technique for inserting islet cells into pancreas to treat diabetes. Founded VivoRx; quit after fight with brother, investors. Took American Pharmaceutical Partners public 2001. Invented cancer drug Abraxane; nanotech drug is more potent, has fewer side effects. Split company in two in 2007: APP Pharmaceuticals creates hospital products, Abraxis BioScience develops drugs (shares flat in past 12 months). Sold APP Pharmaceuticals to German dialysis-clinic operator Fresenius for $5.6 billion including debt in July; netted $3 billion. Plans to donate $1 billion to create “the Bell Labs of health care.” Will hire mathematicians, physicists, computer scientists, doctors to build database of biological markers to better identify ailments, treatments.

3. Nicky Oppenheimer & family

FORBES RANKING: #98

Per-Anders Pettersson/Reportage by Getty Image

Net Worth:$5.0 bil

Fortune:inherited

Source:De Beers

Age:63

Country Of Citizenship:South Africa

Residence:Johannesburg

Industry:Metals & Mining

Education:Christ Church, Oxford U, Bachelor of Arts / Science, Christ Church, Oxford U, Master of Arts

Marital Status:married, 1 child

Chairman of De Beers, world’s largest diamond producer, which had $5.9 billion in sales last year. Has been through a sea change over past five years: sold off a piece of De Beers’ South African operations to a black-empowerment group, first major ownership change in a century; welcomed its first black executive; and settled a long-standing price-fixing suit that prevented it from opening offices in the U.S. Sold off a third of family’s interest in mining giant Anglo American, founded in 1917 by grandfather Ernest. On behalf of De Beers, Oppenheimer courted Russian President Vladimir Putin in fall of 2006; two months later De Beers and Russia’s state-owned Alrosa diamond mining firm signed joint prospecting deal. With the demand dampening, the company bought fewer stones for resale from Alrosa last year. In December announced that production from its biggest open-pit mines in South Africa and Botswana, which had been running at full capacity, would be reduced until diamond demand recovers. His response to declining markets, “If you’re going through hell, keep going.”

4. Nassef Sawiris

FORBES RANKING: #196

MEIGNEUX/SIPA

Net Worth:$3.1 bil

Fortune:inherited and growing

Source:construction

Age:47

Country Of Citizenship:Egypt

Residence:Cairo

Industry: Construction & Engineering

Education:University of Chicago, Bachelor of Arts / Science,

Marital Status:NA,

Youngest son of Orascom conglomerate founder and fellow billionaire, Onsi Sawiris. Took over leadership of empire’s flagship construction and fertilizer division in 1998; Orascom Construction shares tumbled 80% over past year. Chief still bullish, projecting 50% increase in group revenues from projects in Gulf and North Africa; company also sitting on $1 billion cash war chest. Spun off group’s cement division 2 years ago to French giant LaFarge, landing Nassef a seat on the board and a 13% stake. University of Chicago grad launched boardroom battle last October at U.S. cement supplier Texas Industries, in which he holds 15% stake; succeeded in rallying shareholders to pass no-confidence votes against 2 board members to protest company’s poor performance, no one was ousted. Asking for board seat and chance to increase stake to 25%.

5. Naguib Sawiris

FORBES RANKING: #205

JEROME FAVRE/Bloomberg News /Landov

Net Worth:$3.0 bil

Fortune:inherited and growing

Source:telecom

Age:54

Country Of Citizenship:Egypt

Residence:Cairo

Industry: Telecommunications

Education:Swiss Federal Polytechnical Institute, Bachelor of Arts / Science, Swiss Federal Polytechnical Institute, Master of Science

Marital Status:married, 4 children

Eldest son of Orascom conglomerate founder and fellow billionaire Onsi Sawiris. Heads up Orascom Telecom, one of largest mobile providers in Middle East, Africa and South Asia. Telecom tycoon’s insatiable risk appetite backfiring; his personal fund, Weather Investments, saddled with $7.7 billion in debt from leveraged buyouts of Italian phone company Wind and leading Greek telecom companies Wind Hellas and Tellas three years ago. Sold 10% of fund to trio of private equity players for $1 billion last year to pay down debt. Not slowing down: in December paid a visit to Kim Jong Il to sign license agreement granting Orascom exclusive access to North Korea’s cell phone market; first mobile company to invest in the pariah state.

6. Aliko Dangote

FORBES RANKING: #261

Pius Utomi/AFP/Getty Images

Net Worth:$2.5 bil

Fortune:inherited and growing

Source:sugar, flour, cement manufacturing

Age:51

Country Of Citizenship:Nigeria

Residence:Lagos

Industry: Manufacturing

Education:NA,

Marital Status:NA,

Though initial offerings of his sugar and flour companies were oversubscribed in 2007, stocks in both have fallen nearly 70% since last February. Using his role as committee member on government economic advisory board to encourage federal government to rescue the nation’s capital markets. His conglomerate, the Dangote Group, has expanded its cement operations with new plants across Nigeria and as well as South Africa and Ethiopia. Sparring with new Nigerian billionaire Femi Otedola over oil and gas concessions; Otedola parried by buying up stock in Dangote’s companies. Dangote began career as trader at age 21 with loan from his uncle; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and oil and gas. Closely linked to Nigeria’s former president Olusegun Obasanjo.

7. Mohammed Ibrahim

FORBES RANKING: #334

Source: Forbes.com

Net Worth:$2.0 bil

Fortune:self made

Source:communications

Age:NA

Country Of Citizenship:United Kingdom

Residence:London

Industry: Telecommunications

Education:NA,

Marital Status:NA,

Sudanese-born “Mo” founded Celtel, a mobile phone company that now serves 15 African countries. Sold it in 2005 for $3.4 billion; pocketed $1.4 billion. The London resident now spends his time on philanthropy and investing in Africa. Created Mo Ibrahim Foundation to award monetary prize to former African heads of state who have shown exemplary leadership in such areas as promoting political freedom; awarded first $5 million prize in October.

8. Onsi Sawiris

FORBES RANKING: #430

Image Source: Al-Ahram Weekly

Net Worth:$1.7 bil

Fortune:self made

Source:construction

Age:79

Country Of Citizenship:Egypt

Residence:Cairo

Industry: Construction & Engineering

Education:Bachelor of Arts / Science,

Marital Status:married, 3 children

Founding patriarch of Egypt’s most famous business dynasty saw shares in primary holding, Orascom Construction Industries, plunge 80% over past year; remains chair. His 3 sons run construction, telecommunications and tourism divisions. Studied agriculture in college after lawyer father urged him to pursue farming. Found it boring, instead opened a small contracting firm in Upper Egypt. Construction baron forced to rebuild empire after it was nationalized by Nasser in 1960s.

9. Patrice Motsepe

FORBES RANKING: #559

Gianluigi Guercia/AFP/Getty Images

Net Worth:$1.3 bil

Fortune:self made

Source:mining

Age:47

Country Of Citizenship:South Africa

Residence:Johannesburg

Industry: Metals & Mining

Education:Bachelor of Arts / Science, Doctor of Jurisprudence

Marital Status:married, 3 children

Johannesburg mining magnate is South Africa’s first black billionaire. Born in the sprawling black township of Soweto and then trained as a lawyer, became first black partner at Bowman Gilfillan law firm in Johannesburg, before starting a contracting business doing mine scut work. Bought low-producing gold mine shafts in 1994, turned them profitable using lean, mean management style. Since then built $875 million (sales) mining conglomerate, African Rainbow Minerals (ARM), with interests in a wide swath of minerals: platinum, nickel, chrome, iron, manganese and coal. Benefited from South Africa’s Black Economic Empowerment (BEE) laws, which mandate that companies be at least 26% black-owned in order to get a government mining license. Also holds a 5.5% stake in Sanlam, a publicly traded financial services company outside Cape Town.

10. Femi Otedola

FORBES RANKING: #601

Pius Utomi/AFP/Getty Images
Net Worth:

$1.2 bil

Fortune:self made

Source:Energy

Age:42

Country Of Citizenship:Nigeria

Residence:

Industry: Energy

Education:NA,

Marital Status:married, 4 children

Politician’s son used a majority stake in African Petroleum to get himself appointed its chief executive last year. Now he plans to merge it with his private firm, Zenon, to create the continent’s largest oil company. Deal has stalled in the face of government concerns about a monopoly, with his assets temporarily frozen last year. Nigerian regulators lifted the ban in January. Conflict abounds in Otedola’s life: he claims his friend and fellow billionaire, Aliko Dangote, broke a gentleman’s agreement when he thwarted Zenon’s bid to buy Chevron’s local subsidiary in September. In retaliation, starting buying shares in Dangote’s publicly traded sugar company.

11. Johann Rupert & family

FORBES RANKING: #601

David Cannon/Getty Images

Net Worth:$1.2 bil

Fortune:inherited and growing

Source:luxury goods

Age:58

Country Of Citizenship:South Africa

Residence:Stellenbosch

Industry: Retail

Education:University of Stellenbosch, Bachelor of Arts / Science,

Marital Status:married, 3 children

Head of publicly traded Swiss luxury group Richemont, which owns Cartier, Dunhill and other premium brands. Stock down 70% since last February. His South African holding company, Remgro, is listing its stake in British American Tobacco on the Johannesberg exchange. But unbundling of the BAT stake will create pressure to find investments to replace the asset, say analysts. His private South African investment outfit, VenFin, finalized a much-anticipated deal to acquire British rugby club Saracens. With family relatives, owns two of South Africa’s best-known vineyards, Rupert & Rothschild and L’Ormarins; also owns one of the country’s most exclusive golf clubs.

Filed Under: Featured, Lifestyle
Tagged: Aliko Dangote, Femi Otedola, Johann Rupert, Mohammed Al Amoudi, Mohammed Ibrahim, Naguib Sawiris, Nassef Sawiris, Nicky Oppenheimer, Onsi Sawiris, Patrice Motsepe, Patrick Soon-Shiong

Mohammed Al Amoudi-Black Billionaires

2035-11-28T06:21:00.000-08:00

Born: 1946, Dessie, Ethiopia
Company: Corral Petroleum Holdings, MIDROC Ethiopia
Position: Chairman
Industry: Petroleum
Country: Saudi Arabia, Ethiopia

Mohammed Al Amoudi, is Ethiopia's richest man and the richest black person in the world, with a net worth of $9 billion.

Mr. Al Amoudi owns a broad portfolio of businesses in oil, mining, agriculture, hotels, hospitals, finance, operations and maintenance.

He owns Swedish refinery Preem as well as Svenska Petroleum, which made big plays in Guinea-Bissau, Nigeria and Angola in 2008.

Mr. Al Amoudi has invested more than $1 billion in Ethiopia. He controls his vast business conglomerate through two holding and operating companies, Corral Petroleum Holdings and MIDROC. His companies employs over 40,000 people through these companies.

Mr. Al Amoudi holds an honorary doctorate in Philosophy from Ethiopia's Addis Ababa University.

Meet The Millionaires And Billionaires Suddenly Buying Tons Of Land In Africa: Mohammed Al Amoudi

2020-07-07T18:32:00.000-07:00

Meet The Millionaires And Billionaires Suddenly Buying Tons Of Land In Africa

Published: 30 Jun 2011

Business Insider | 30 June 2011

By Courtney Comstock

"Understanding Land Investment Deals in Africa" the new publications of The Oakland Institute (here, Sierra Leone case study)

Oakland Institute just completed the most thorough investigative report on who's buying land in Africa we've seen yet: "Hedge Funds Grabbing Land in Africa," as BBC called it.

As commodities prices rise and inflation picks up, the OI made the report public, they say, because the number of investors buying up land in Africa concerns them.

For obvious reasons, there isn't much out there about who's buying what and how much in Africa. But what OI has discovered is a small number of investors paying sometimes nothing for large plots of land in some African countries.

The lease deals are arranged between seemingly corrupt African leaders, reportedly without disclosing the details to the members of the communities that will be displaced because of the land development, and investors such as hedge fund managers.

The end result -- beating villagers, digging up their cemeteries, and taking over land that villagers have lived on for centuries -- looks a lot like a less cruel version of what history tells us colonizing Americans did when they ousted the Indians, according to this one report anyway.

Bruce Rastetter and his various companies are accused of breaking promises to hire locals

Bruce Rastetter the CEO of Pharos AG. Photo: Business Insider

Who's buying: Bruce Rastetter (CEO of Pharos Ag, co-founder of AgriSol Energy, CEO of Summit Farms, and a donor to the Iowa State University), the Iowa-based Summit Group and Global Agriculture Fund of the Pharos Financial Group, in partnership with AgriSol Energy LLC and the College of Agriculture and Life Sciences at Iowa State University, and Serengeti Advisers Limited, a Tanzanian investment and consulting firm led by Iddi Simba (non-executive director and the former Tanzanian Trade and Industry minister) and Bertram Eyakuze (partner and co-founder)

The land they're buying: Three “abandoned refugee camps”– Lugufu in Kigoma province (25,000 ha), Katumba (80,317 ha), and Mishamo (219,800 ha), both in Rukwa province in Tanzania.

The future development: Large-scale crop cultivation, beef, and poultry production, and biofuel production. The Tanzanian government is expected to approve the title of occupancy within 3 months, which will result in the evacuation of the current inhabitants: refugees. Also, the Tanzanian government is expected to create a regulatory framework for the use of genetically modified crops.

The scandal: Some refugees apparently received citizenship in 2010, but were told that their certificates were being withheld until they re-located to other areas of Tanzania. AgriSol claims that it's looking to hire local farm project managers to work on the project, however AgriSol told the Oakland Institute that they were bringing in white South African farm managers.

Leonard Henry Thatcher, David Neiman and other investors acquired land through a secret cooperative behind the backs of locals

Photo: Business Insider

Who's buying: Nile Trading and Development (NTD is an affiliate of Kinyeti Development); Mukaya Payam Cooperative; NTD's Chairman, Leonard Henry Thatcher; Howard Eugene Douglas, Kinyeti's Managing Director, a former United States Ambassador at Large and Coordinator for Refugee Affairs and a Director at Orbis Associates; Kinyeti's Secretary, Christopher Weikert Douglas, who in 2008 worked at the United States Consulate in Dusseldorf, Germany and is a Director at Orbis Associates; and NTD's president, David Neiman.

The land they're buying: 600,000 hectares (with a possibility of 400,000 additional hectares) for 75,000 Sudanese Pounds (equivalent to approximately USD 25,000) in South Sudan.

The future development: NTD's plans are unknown, according to the Oakland Institute. But they have the rights to do whatever they want. Two clues: 1. A letter NTD's president, David Neiman, wrote to the governor of the Central Equatoria State says that he intends to develop the land's timber resources. 2. Neimann entered into a “contractual alliance” with Tony Paris of Paris Broadcasting Cable 7 in June 2008 for algal agrofuel production in South Sudan.

The scandal: The company that leased the land to NTD is described as an influential group of natives who leased the land out behind the backs of the entire community by Sudan’s Agency for Independent Media (AIM). AIM also says "In reality, the cooperative does not exist on the ground... [Some communities are in favor of the deal but] what is common among all of them is that they are not all well informed about the advantages and disadvantages of the deal."

Jean Claude Gandur's company reportedly promised that the community's rice-growing land wouldn't be used, then it dug large deep channels to drain them

Jean Claude Gandur, Chairman of Addax Bioennergy. Photo: Business Insider

Who's buying: Addax Bioenergy and its Chairman, billionaire Jean Claude Gandur

The land they're buying: 20,000 hectares of sugarcane plantations in Sierra Leone.

The future development: Sugarcane farming for ethanol production for export to Europe

The scandal: To convince local communities to accept the project, the company promised community members that their loland rice-growing areas would not be used. Addaz has reneged on their pledges. The land has been dried out, large and deep channels were dug to drain them, and Addax is cultivating the lower lying swamp land previously used for rice production. Addax also promised land development in the form of schools, health facilities, a community center, and water wells. But to date, none of those promises have been fulfilled.

Miguel Pais do Amaral's company is reportedly paying landowners less than they made farming to lease the land

Miguel Pais Do Amara owns Quifel Agribusiness, a Lisbon-based holding which is involved in land grab in Sierra Leone . Photo: Business Insider

Who's buying: Quifel Agribusiness, a Lisbon-based personal holding of the businessman, Count, and amateur race car driver Miguel Pais do Amaral

The land they're buying: 126 hectares of land in the Port Loko District in Sierra Leone

The future development: OI says the company's future plans are unclear. It claims it's producing food crops for local consumption. In its lease, it says the company to produce palm oil for agrofuel. Now it's testing cassava, pineapples, and rice. The land is also rich in minerals – particularly bauxite, gold, diamonds and iron ore. (An Australian mining company, Cape Lambert, currently holds an exploration lease on parts of the area for which Quifel holds surface rights.)

The scandal: The company promised social and educational projects would be developed in the area. At this point, those are still plans. None of the landowners nor chiefs were given copies of the leases (the company arranged for an Attorney to negotiate and sign on their behalf). The rent that the company now pays the landowners doesn't cover the amount that they're now unable to make from farming.

Kevin Godlington (who's linked to Tony Blair) and his company haven't provided any documentation to prove their land ownership

Kevin Godlington, the director of SLA, which has 43 000 ha in the Port Loko region in Sierra Leone. Photo: Podge

Who's buying: Kevin Godlington, the CEO of Crad-l and Director of SLA, the Sierra Leone Agriculture (SLA) and its parent company, the UK-based CAPARO Renewable Agriculture Developments (Crad-I), and CAPARO's founder, the British Industrialist Lord Paul of Marylebone. Also, local people in the SLA lease area are under the impression that Tony Blair is linked with the project and with SLA.Godlington says he works “closely” with Hon Angad Paul, the Office of Tony Blair and other investors and sponsors to run this “African development company specializing in former conflict nations” and to lead “investment teams in setting up large scale agricultural, resource and extractive business’s [sic].”

The land they're buying: 43,000 hectares in the Port Loko region of Sierra Leone

The future development: Godlington says it's to establish palm oil plantations on the lease to produce palm oil for the local market, and the project will involve mills and processing plants. In 2010, SLA cleared 5 hectares of forest bush to plant palm oil seedlings. It aims to have palm oil plantations in over 40,000 hectares within 7 years.

The scandal: Godlington hasn't made his plans public in the country, nor is there any documentation that verifies his claims, according to OI. The chief who granted him the lease says that he insisted SLA build schools, health centers, and resettle any villagers the development displaces. However the chief also says that the lease has to be renewed every 7 years, whereas the SLA director says the lease is not up not for renewal, but for rate re-negotiation every 7 years.

Sepahan Afrique is accused of forcing landowners to sign a lease agreement under duress without reading it

Photo: Business Insider

Who's buying: Sepahan Afrique, an Iranian company that produces food and non-food items as diverse as plasticwares, construction materials, ice chests, safe boxes, aluminum items, household appliances, and exports minerals, ginger, pepper, iron scrap, cocoa, and coffee. The only person we can find who is affiliated with this company is Ismaeil Mofidi, who is said to be the company's commercial manager.

The land they're buying: A "significant" amount of land (at least 10,117 hectares) in the Marampa and Buya Romende chiefdoms of the Port Loko region of Sierra Leone.

The future development: The company plans rice and palm oil production, and to build factory for the processing of palm oil and other edible oils. Their lease gives them rights to the land's surface and any minerals that law below it. The area is reportedly rich in iron ore and bauxite.

The scandal: Landowners have not been paid rental fees and development plans have not materialized. Also, landowners and Sepahan Afrique signed the agreement under reportedly strange circumstances. They say they were summoned to the the Iranian embassy for an urgent meeting in 2007 in the final days of the former SLPP government. When they arrived close to midnight, they say they were forced to sign the agreement "under duress" after being informed that the Iranian investors were leaving the next morning and that they had to sign before reading the agreement. They say they signed because they "could not violate the authorities."

Susan Payne's and Frans van den Bergh's companies allegedly forced landowners to sign over 1,000 hectares

Susan Payne and Frans van den Bergh. Their joint venture, EmVest owns up to 30 000 ha in Africa. Photo: Emergent Asset Management

Who's buying: EmVest Asset Management, a joint venture between Emergent Asset Management and Grainvest, a subsidiary of theRussellStone Group. Susan Payne, the CEO of Emergent Asset Management and Frans van den Bergh, a former trader at Voersentrale, a cooperative involved in the domestic and international trade of commodities for animal feed, who is now the Chairman of RussellStone, Agri-Invest, and Freecka Landgoed Ltd, a mixed farming operation.

The land they're buying: 2,000 hectares in Matuba, Mozambique.

The future development: The company aims to develop arable land to produce food crops by building irrigation. The latest quarterly update says that the irrigation system is 98% complete.

The scandal: Government authorities allegedly forced landowners to sign papers releasing 1,000 hectares of land. Emergent says it has 1,000 hectares and is in the process of obtaining rights for the second 1,000. The company says in its verbal communication to investors that it already owns the second 1,000 hectares. The company also claims to have a strong relationship with the local community (which their Facebook group seems to verify). Community members however speak of a conflict that is "because EmVest wants land where people live and farm, but we need this land for our children and to feed ourselves."

Muammar Gaddafi is accused of negotiating a deal where he gets 100,000 hectares of land for free to build a large water canal

Muammar Gaddafi. Photo: LeStudio1.com via Flikr

Who's buying: Malibya, a subsidiary of Libya Africa Investment Portfolio. The deal was reportedly negociated between Libyan head of state Muammar Gaddafi and Malian President Amadou Toumani Toure. However the agreement was signed between Tiémoko Sangare, (then) Malian Minister of Agriculture, and Dr. Aboubaker al Mansoury, Secretary of the Popular Committee for Agriculture, Livestock and the Fishery, representing the Arab Libyan Popular and Socialist Grande Jamahiriya.

The land they're buying: 100,000 hectares in the Office du Niger, west of Macina in Mali.

The future development: The construction will create the largest canal in Mali and one of the largest in Africa, and a road, both 40 kilometers in the first phase. The construction of an irrigation canal of 40km has been subcontracted to the Chinese operator CGC, which is owned by SINOPEC. The land will produce hybrid rice, livestock, and it will process tomatoes. Between January and May, it will produce wheat, maize, soya and various vegetables.

The scandal: The agreement grants Malibya use of the land for free for 50 years. It charges negligible fees for water extraction from the Niger River, and places no limits on how much can be extracted. To build the canal, houses were razed and a cemetery was unearthed.

Amadou Sissoko's company is accused of having villagers beaten who protested when bulldozers arrived on the land they've lived on for centuries

Photo: Business Insider

Who's buying: Moulin Moderne du Mali; the Agropastoral and Industrial Complex and Amadou Sissoko, the president of the board of Moulin Moderne du Mali.

The land they're buying: 7,400 hectares in M'Bewani and 20,000 ha in the upper Kala hydraulic zone of the Office du Niger in Mali

The future development: Wheat is the principal crop in the first phase. During January and May, wheat, maize, soya and vegetables will be farmed.

The scandal: There are no limits on how much water the project can use, and it's displacing 3,500 villagers whose community has lived on the land for centuries. During a protest over builders bulldozing the community's trees, protestors say they were beaten. One woman says she miscarried as a result of the beating. The Secretary of State responsible for the Office du Niger says the communities have no rights to the land. However they are a self-sufficient community which has been self sufficient by farming and selling millet for years. They produce enough cover taxes, health, marriage, etc costs. And 2 years ago, during a major food crisis in the country, the community donated food to the Malian government as aid.

William Brown and Ed Rosenberg's company is accused of displacing thousands and providing misleading info about their investment

Photo: Business Insider

Who's buying: Petrotech-ffn Agro Mali, a subsidiary of Petrotech-ffn in Egypt; William Brown, the chairman of Petrotech (he was formerly a United States Ambassador and was also former principal Deputy Assistant Secretary of State for East Asia and the Pacific. He has a Ph.D. from Harvard.); and Ed Rosenberg, the president of Global Wealth Management Corp.

The land they're buying: 10,000 hectares in the hydraulic system of Kareri

The future development: Agrofuel. The principle crop will be oil-producing plants, specifically jatropha oil, which 9,500 hectacres of the land will be dedicated to farming, according to the company's promotional presentation.

The scandal: The project will displace an estimated 10,000 to 20,000 people, who are living off the land currently. The lease describes the fertile land as "brownfield." And the company's presentation on the project says it will benefit the local population, but on its website, it says it "will initially sell its feedstock to the EU countries, the U.S. and to support the Biodiesel facility in Egypt," according to the OI.

Aliou Tomota's company is accused of displacing hundreds of thousands of people without even bothering with a lease

Aliou Tomota. Photo: World Bank

Who's buying: Tomota Group and Huicoma, which is part of the cotton company CMDT (Tomota purchased the majority of shares in Huicoma 2005), and Aliou Tomota, who runs Tomota.

The land they're buying: 100,000 hectares in Mali including Monipebougou, Macina, and Tenenkou. One newspaper says Tomota could own up to 140,000 hectares.

The future development: The company reportedly plans to produce oleaginous plants, sunflowers, peanuts, soya, jatropha, and karite. Tomota's technical director says it will produce mostly combustible oils. However OI believes it also intends to produce jatropha, the oil of which is used for agrofuel.

The scandal: After Tomota effectively bought Huicoma, the company realized that it did not have enough raw stock for its oil production, it reportedly took over the land without signing a lease first. And according to the Office du Niger, as of October 1, 2010, when Tomota was already producing 2,000 hectares of sunflowers, no lease had been signed yet. It's unclear what will happen to the estimated 100,000-200,000 people living on every 2,000 hectares of the land Tomota now claims.

Mohammed Al-Amoudi's company will reportedly squeeze excess water out of the community's Awero river to farm rice

Mohammed Al-Amoudi. Photo: Ethiopian Review

Who's buying: Saudi Star Agriculture Development; Mohammed Al-Amoudi, who owns the company (Forbes ranks him the 64th richest person in the world) and reportedly is suspected of having deep connections to the local government, the EPRDF.

The land they're buying: 10,000 hectares near Abobo in Gambella in Ethiopia, and they're looking to buy 500,000 hectares more.

The future development: Plans include building 30 km of cement-lined canals to move water from the Awero river to the fields, and building a second dam on the river to increase the amount of water available. The company hopes the additional 500,000 hectacres will produce 1 million tons of rice. They also hope to grow maize, teff, sugarcane, and oilseeds.

The scandal: The company isn't paying rent on the 10,000 hectacres, which used to be maize fields farmed by local villages. And the river Saudi Star hopes to use is currently used for fishing, transportation, and as a water source for several small villages, which have been relocated across the river. The communities were not consulted before the relocation. When they asked government officials why bulldozers were clearing the area, they reportedly replied, "You don't have any land, only the government has land."

The World's Billionaires #64 Mohammed Al Amoudi

2015-11-22T07:11:00.000-08:00

Mohammed Al Amoudi

Net Worth: $10.0 bil
Fortune: Self Made
Source: oil
Age: 65
Country Of Citizenship: Saudi Arabia
Residence: Jeddah
Education: NA
Marital Status: Married, 8 children

See LATEST news, photos, video of Mohammed Al Amoudi
Born in Ethiopia to Saudi father and Ethiopian mother, Al-Amoudi claims to be investing more than $3 billion into Ethiopian agriculture and industry with the aim of modernizing farming and eventually exporting much of the output to Saudi Arabia. Also owns mine in Ethiopia that puts out 5 tons of gold a year. Started investing in Sweden in 1974; stakes there now comprise half his fortune: Preem operates two refineries; Svenska Petroleum produces crude oil in the North Sea and west Africa. Construction company Midroc operates in Europe, Africa and Middle East. In recent years completed estimated $30 billion contract with Saudi Arabia to build vast underground oil storage caverns.

Renowned Saudi Arabian/Ethiopian business tycoon Sheikh Mohammed Hussein Ali Al Amoudi was born in 1946 in Dessie, Ethiopia. His estimated net worth of about $6.9 billion in 2006 has made him the richest man in Ethiopia. His fortune also ranks him as the 8th richest Arab in the world. Mohammed Al Amoudi amassed his wealth by engaging in construction and real estate businesses.

Having garnered a tremendous amount of wealth, Mohammed Al Amoudi decided to donate a large percentage of his fortune to quite a few charitable organizations. In 2007, Mohammed Al Amoudi made a donation of more than 25 million Birr to help fund the construction of the Harar Cultural Center.

Mohammed Al Amoudi covered half of the estimated amount needed to construct the cultural museum in Harar. According to Bushira Mohammed, Harar’s public relations officer, Mohammed Al Amoudi gave the pledged amount right after the cornerstone was laid at the construction project’s site, which happened after the closing session of the monthlong Harar millennium celebration.

The museum, which consists of several features including a public library, international gymnasiums, and conference rooms, was named after the Ethiopian businessman and philanthropist as a tribute to his efforts and generous contribution.

Sheikh Mohammed Hussein Ali Al Amoudi (Ge'ez: ሞሓመድ አልአሙዲ, Arabic: محمد حسين العمودي; born 1946 in Dessie, Ethiopia but grew up in Weldiya)[1][2] is a Saudi Arabian/Ethiopian business magnate who lives in Ethiopia and Riyadh, Saudi Arabia. Mohammed Al Amoudi is Ethiopia's richest person.

In 2006 his net worth was estimated as between $2.5 and $6.9 billion, causing Arabian Business to rank him as the world's 8th richest Arab[3], and Forbes to rank him as the world's 77th richest person.[4] In 2008, Forbes ranked Mohammed Al Amoudi as the 97th richest person in the world with a net worth of $9 billion.[4] In 2009, Forbes ranked Mohammed Al Amoudi as the 43rd richest person in the world at a net worth of $9 billion.[4] In 2010, Forbes ranked Mohammed Al Amoudi as the world's 64th richest man with a net worth of $10 billion.[4]

Al Amoudi's father is Hadhrami Yemeni and his mother is Ethiopian. He immigrated to Saudi Arabia in 1965 and became a Saudi citizen. His wife is Sofia Saleh Al Amoudi who is a shareholder of Midroc Construction. [5] He has eight children, his eldest son and heir being Abdul Rahman Al Amoudi. Depending on different ethnic categorizations, and Al Amoudi's mixed Ethiopian and Yemeni parentage, he is one of the richest Arabs or the world's richest black person.[6][7]

Al Amoudi made his fortune in construction and real estate before branching out to buy oil refineries in Sweden and Morocco. He is said to be the largest foreign investor in both Sweden and Ethiopia. He holds an Honorary Doctorate in Philosophy from the Addis Ababa University and has been honoured with the Order of the Polar Star by King Carl XVI Gustaf of Sweden

Business activity
Al Amoudi owns a broad portfolio of businesses not only in oil but also in mining, agriculture, hotels, hospitals, finance, operations and maintenance. Although some critics[who?] have said he is gaining a monopoly on some businesses in Ethiopia, Ethiopia maintains a competitive free market economy. Despite losing bids to Al Amoudi, CEO Girma of Ethiopian Airlines has said that Al Amoudi's work represents healthy competition.[8]

His businesses are largely to be found within two conglomerate holding and operating companies, Corral Petroleum Holdings and MIDROC (Mohammed International Development Research and Organization Companies), which he owns and manages. He employs over 40,000 people through these companies

Charitable Donations
Al Amoudi was named as one of the Clinton Foundation Donors, according to information released as part of an obligation placed on former President Clinton when he supported Hillary Clinton's nomination as Secretary of State. Al Amoudi is reported to have donated between $1,000,001 to $5,000,000.[9] He has also made donations to hospitals, NGOs and other causes in Ethiopia

Commitment to East Africa
Al Amoudi has focused his East African investments on Ethiopia since the mid-1980s. MIDROC Ethiopia was created in 1994. He is very much committed to Ethiopia, especially to job creation and infrastructure capacity building, and is well known as a philanthropist in his country of birth. He has built a 140-bed health care facility and supports visual impairment, disabled, children's health and poverty alleviation programmes.

In the education arena, he provides overseas scholarships and is a patron of the Ethiopian arts. Al Amoudi has sponsored the CECAFA Cup, Africa's oldest cup competition for the last three years, during which time the football tournament has been known as the Al Amoudi Senior Challenge Cup.[10]

Al Amoudi is a frequent visitor to the UK and the US where he has business interests and was jointly honoured by the World Bank and State Department for his work in supporting African development. This was the first time that the World Bank had hosted such an event for a private sector investor.

In October 2009, Addis Fortune reported that the al-Amoudi-owned Saudi Star Agricultural Development Plc planned to develop up to 500,000 hectares (1,200,000 acres) of Ethiopian land for sugar, edible oil, and grain production.[11] The company had reportedly purchased $80 million in equipment from Caterpillar Inc

Famous Muslim Billionaires [Richest Muslims In The World]

Popular culture
As of October 2007, Mohammed Al Amoudi had become the subject of e-mail spam, in which an ostensible ex-wife claims to have access to Al Amoudi's fortune.[12]

In 2010, the UK media claimed that a self-styled "saudi princess" had claimed to be his daughter [13] . There was no evidence of such a claim being made other than as media speculation and any such claim was forcefully denied by George Salem, lawyer for Sheikh Mohammed Hussein Al Amoudi, after a court case in London that was unrelated to the Sheikh had ended.

There have also been occasional unwarranted defamatory claims about the Sheikh on the internet which have been pointed out by the Sheikh's legal counsel to be fabrications, generated for political reasons or for other purposes.

Within African-American popular culture, the Sheikh is sometimes pointed out as a self-made man who offers a positive role model for black American youth.
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« 1383 cab drivers in Washington DC are from Ethiopia State Department Country Report on Ethiopia 2005 »
Mohammed Al Amoudi is the 77th Richest Person in the World
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03/10/06
Permalink 11:36:26 am, by nazret.com, 455 words English (US) latin1
Categories: Business, Ethiopia
Mohammed Al Amoudi is the 77th Richest Person in the World

Link: http://www.forbes.com/lists/2006/10/AQ88.html

Updated March 5, 2008

Mohammed Al Amoudi is now ranked the 97th Richest person in the world.
He is the richest black person on the planet, ranks second richest in Saudi Arabia and 6th richest in all of Africa and Middle East.

Click here for the latest ranking Forbes March 5, 2008

Updated on March 9 2007.

Mohamed Al Amoudi is the 86th Richest Person in the world. Click here for the latest update
Number 86th In the World
Number 1 in Ethiopia
Number 4 in African and The Middle East

Mohammed Al Amoudi is the 77th Richest Person in the World and Numero Uno in Ethiopia

Number 1 in Africa
Number 4 in Middle East/Africa
Number 77 in the World

Mohamed Al-Amoudi and Oprah Winfrey are the only Black People on the list*. BET founder Bob Johnson is not on the list.

Al-Amoudi is the Richest Black Person on the Planet, Man or Woman period!

Al Amoudi is worth a Cool 6.9 Billion Dollar

2005 was a great year for Mohamed Al Amoudi last year Al Amoudi was ranked # 243 in the world In 2005 alone his net worth has increased by an impressive 4.4 Billion dollars. Could it be the Oil boom?

6.9 billion reasons to smile :)

Age: 60
Fortune: self made
Source: Oil
Net Worth: 6.9 Billion
Country Of Citizenship: Saudi Arabia
Residence: Jeddah, Saudi Arabia, Middle East & Africa
Industry: Oil/Gas
Marital Status: married, no children

Born in Ethiopia and now a Saudi citizen, Al Amoudi made his fortune in construction and real estate before betting on Swedish and Moroccan oil refineries. His Svenska Petroleum conducts oil exploration from the Nordic shelf to the Ivory Coast. He is the largest private investor in Ethiopia, putting money into such diverse assets as a hotel, gold mines and a food processing plant.

---------------------

Forbes March 2006 Cover

Top 10 Billionaires in the World
Rank Name Citizenship Age Net Worth ($bil) Residence
1 William Gates III United States 50 50.0 United States
2 Warren Buffett United States 75 42.0 United States
3 Carlos Slim Helu Mexico 66 30.0 Mexico
4 Ingvar Kamprad Sweden 79 28.0 Switzerland
5 Lakshmi Mittal India 55 23.5 United Kingdom
6 Paul Allen United States 53 22.0 United States
7 Bernard Arnault France 57 21.5 France
8 Prince Alwaleed Bin Talal Alsaud Saudi Arabia 49 20.0 Saudi Arabia
9 Kenneth Thomson & family Canada 82 19.6 Canada
10 Li Ka-shing Hong Kong 77 18.8 Hong Kong

There are 793 Billionaires in The World.
The new list includes 371 Americans, the most of any country, and 78 women. New York had the most billionaires of any city, with 40, followed by Moscow (25) and London (23).

Number 562 Oprah Winfrey with 1.4 Billion

Google Co-Founder and University of Maryland CS Graduate Sergey Brin is number 26 with 12.9 Billion

Google Co-Founder Larry Page 12.8 Billion number 27.

Source: Forbes

-----------
Related Links

Al Amoudi donates 5 million Birr to TPLF

Al-Amoudi campaign for EPRDF angers many
አልአሙዲ ለኢህአዴግ ሲቀሰቅሱ ዋሉ

* Checked through the list and the only black people we found were Al-
Amoudi and Oprah Winfrey. We stand to be corrected.

-----------
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160 comments
Comment from: Eyobed Habtemariam [Visitor]

It so good to hear that a man with great integrity being the 77 richest man for a country that represents the horn of Africa. I thank you Al moudi for your grace for being a jewellery for Ethiopia. Thank-you
03/10/06 @ 11:48
Comment from: alemayehu yazew [Visitor]
good person and good for our mother to invest diff,things to creats work.
But to be EPDRF high saporter ????????sooy he do not think he do this is,
TPLF propaganda to get him in their side.Let him do good things for our country Ethiopia shu i aska you with respekt not to involv you with bad side TPLF You know what is good and bad i have big respekt for
you and your work.
GOD BLESS YOU and Your family and YOUR work .
Your son or brother.
03/10/06 @ 11:56
Comment from: Conspiracy [Visitor]
He is not in Ethiopia for Ethiopia, wake up and smell the coffee! His agenda is much bigger than that...to give you a hint maybe "Religion" has something to do with it...
03/10/06 @ 12:02
Comment from: Chigruu.... [Visitor]
Sheikh Al-Amoudi,

We congratulate you for your achievement. But don't take sides in the political fight. It is belittling to a person of your stature (unless there is something sinister beyond our understanding).

Thanks
03/10/06 @ 12:06
Comment from: Giyorgis [Visitor]
Al Moudi,
I celebrate your great accomplishments. Thanks for all you done for Ethiopia. If you really want to help us, use your wealth and power to bring democracy to Ethiopia. Did Meles threaten you? Truly a man such as you knows right from wrong. PM Zenawi imprisons the innocent and cause many to suffer without just cause. It is ashame to think that you are free to enjoy your wealth while Ethiopian mothers pray and wonder if their children are still alive.
03/10/06 @ 12:08
Comment from: yatalanal wa!!! [Visitor]
yes it is fine sombody from this poor country to be named in terms of wealth, and good contribution for the country in general, but better to be nutral in politics as his co-worker and the people at large having different stance in the political view,this will rapping off his reputation,will let him to be consider the enemy of the ethiopian ,cause he stan with the rulling party to do what ever he can(be proud on GOD not on his money)

03/10/06 @ 12:13
Comment from: Tsedenia G/Markos [Visitor]
Of course he is perfectly entitled to help the Tigrean people liberation front (even-though I didn't know until know that he still thinks the Tigrean people are not liberated form what? maybe TPLF? I have no idea) Anyway, anyone who lives in a democratic country has the right to support any of their chosen political party. Nevertheless this individual right doesn't guaranty any one to openly support a terrorist organisation or group. Period! You and every one else for that matter will exactly know what will happen to you if you extend and indicate your support to an organisation such as Al-qaida. The only difference between Al-qaida and the so called TPLF mafia government is in the target's of there terror campaign. While Al-qaida targets the rich, powerful and white people in general, TPLF's target are the poor, powerless, black people of Ethiopia. Now there are various reasons for all of us in supporting or not supporting such kind of organisations or groups. It is always easy to forgive people who extend there support for terror organisations or groups because they were either mislead, brainwashed or forced to do so. But how can anyone in there right mind support a terror campaign on there own people unless they are the benefiters of such actions? and his 77th position in the world is a reflection of that fact.
03/10/06 @ 12:14
Comment from: dungad [Visitor]
DEAR Mohammed Al moudi; CONGRAGULATIONS,Sir! YOUR POLITICAL CHOICE IS YOURS; PLEASE KEEP DOING YOUR BEST TO HELP ETHIOPIA COME OUT OF THAT DESPICABLE LIFE AND DISHONORING POVERTY. I WISH YOU MORE AND MORE SUCCESS. I WOULD LIKE TO READ YOU AS THE FIRST AMONG THE LIST OF BILLIONARES IN THE COMING FEW YEARS. THANK YOU SO MUCH FOR THE GOOD THINGS AND INVESTEM NTS YOU MADE SO FAR. THANK YOU!
03/10/06 @ 12:19
Comment from: Meles leba [Visitor]
gana ethiopia bamulu gazito 1st yihonal (alahi yizot yihid)
03/10/06 @ 12:24
Comment from: lili [Visitor]
oh yea, he is up then. good for him, and am his investment in Ethiopia has helped. midroc's profit has reason by 86% this year only. so he is getting more than he is investing. Grate business man!! when he recieved his honary doctrate at Addis Ababa University. on a speach he made about constant questioning to why he is investing in Ethiopia, he said I quote " I want to be there before everybody else does." and He did. I think if he operates carefully the sky is the limit for this guy and he can take many more Ethiopians to the road to wealthiness with him.
03/10/06 @ 12:25
Comment from: Hayalu [Visitor]
Conguratulation Sheikh Alamudi and May Allah Beless you for your good work to your motherland. Hey people wake up, he is investing and creating job and I think he has the right to support any legintimate party. Glad he is not supporting the Terrorist CUD.
03/10/06 @ 12:28
Comment from: Joe [Visitor]
Al Moudi has a right to support any political party he likes. May CUD supporters are not happy with that.

Many CUD supporters think that their patriotic Getem or Zeraf Fukera worth more than Al Moudi's contribution to his beloved country. What a bunch of lossers.

In the old days people use to show their love for their country by Getem and Fukera......CUD brothers and sisters that day is gone......Now the new Ethiopianism is expressed through hard work, and intellect which are compatable in the 21st century.

Wake up!

Joe

03/10/06 @ 12:33
Comment from: B.K. [Visitor]
A very rich man In A very poor country.
People please check out this two books. Dude, Where's My Country? by Michael Moore and Crude Politics: How Bush's Oil Cronies Hijacked the War on Terrorism by Paul Sperry.
They both refer to Al Amoudi as the mysterious oil magnet. It dont matter how he got his money but when you have a lot of money invested in a country you will also have a lot of influence in its politics.
Lets not get carried away!
Lets get critical!!!
03/10/06 @ 12:44
Comment from: benji [Visitor]
Congratulations Al Amoudi, for your achievements.

You deserve loathing for standing behind repressive Woyane.

But you also deserve respect for putting your money where your mouth is.

One out of two is not bad !
03/10/06 @ 12:45
Comment from: Tsedenia G/Markos [Visitor]
^^
^^^

If you think killing women and children is hard work, I wouldn't like to be in your shoes. What happened to the people of Ethiopia will never be forgotten, all the crime TPLF committed against the people of Ethiopia will always haunt them forever, and their collaborators.
03/10/06 @ 12:46
Comment from: Abeba [Visitor]
Dear Tsedenia,

"TPLF's target are the poor, powerless, black people of Ethiopia.". Do whites exist in Ethiopia? I mean have you ever met a white Ethiopian? You can mention different ethnic groups but not black and white issue in Ethiopia.
03/10/06 @ 12:48
Comment from: Gundan [Visitor]
We should all respect Al Amoudi’s right to support whatever party he chooses including the despicable TPLF, after all that’s one of the tenets of democracy. In my opinion, he shouldn’t be vilified just because he is in a collision course with the majority of Ethiopians, after all democracy is the respect of minority rights by the majority.

We are all thankful for his investment in our homeland and he deserves praise for that. He has shown our former and current greedy leaders, that there is no need to spirit the country’s wealth to Swiss accounts, instead you could invest in Ethiopia, create well paying jobs for your people, update and upgrade the country’s infrastructure and get rich in bargain. This is a win-win situation for all, like having your cake and eat it too. I entreat everyone to stop bashing Al Amoudi. It’s his money and he has a right to support whomever he chooses. Just like we have the right to boycott Pepsi and Sheraton (frankly though, how many Ethiopians do we know that can afford twelve birr for a cup of coffee).

Cheers,

-Gundan

03/10/06 @ 12:53
Comment from: Mirkana [Visitor]
The conspiracy theorists are funny. Alamoudi has "a hidden agenda", TPLF cadre", the destruction of Ethiopia etc... This man invested more than a billion dollars in Ethiopia, obviously he will support the status quo, business people do NOT like uncertainty. You guys claim to beleive in Democracy and when someone does or says something you disagree with he's labeled as the enemy of the people. You remind me of the Dergue, everyone was something (tsere hizb, bezbaj, tsere abyot, adahari) GROW UP
03/10/06 @ 12:59
Comment from: Tsedenia G/Markos [Visitor]
^^^^^
^^^^^^

If you believe in the type of democracy you are advocating, let us see you openly support Al-quida so that we will see what the one of oldest democracy in this world(u.S.A) will make of you. Don't try to misinte
rpret a very clear and open case.
03/10/06 @ 13:04
Comment from: ET [Visitor]
I don't care what FOBES said ,Al Amoudi is a stupid person i never know in my life.Look people the only thing we know is investing in ethiopia but is this true ? i will live this answer to the True Ethiopians.
03/10/06 @ 13:08
Comment from: jay [Visitor]
what you and Tplf are doing to the country is beyond a lot of peoples little mind, keep on doing what you do.
03/10/06 @ 13:11
Comment from: negista Azeb [Visitor]
Oh! people people please try to stick to the subject. We are not talking her about TPLF or Tigreans or any other etnic or political group. We are talking about Mr. Alamudi, why do you have to bring TPLF all the time or is it so easy for you to spell it - a word with only four letters? "Bathe Menilik yedonker Menilik yemut sil yenoral". Please read some thing and try to discuss different topics/subjects - there are a million things to discuss about. And Shek Aalamudi - God Bless you.
03/10/06 @ 13:13
Comment from: Belay Zeleke [Visitor]

That is very good to a billinor to invest in Ethiopia. What ever it is an important man like him should have shared the idea of independent organizations like Amnesty, CPJ ....

Wether Alamudin say it or not the election failed to fulful international standard, and full of fruad.
03/10/06 @ 13:14
Comment from: $$$ Vs basic democracy [Visitor]
I read few comments posted in this Al hamoudi issue!....YES i totally agree that Mr. Al Amoudi can support any political party..that is HIS INDIVIDUAL RIGHT!!and choice...but we must know that every choice has a consequence...whether it be good or bad!! every man/woman is responsible for his/her choice!! Al Amoudi can choose or vote for the Devil itself..that's his right!! but he'll have to reap the consequenses!! Sartre said "every man is the sum of his action". The question is not whether it's his right or not but who is he chosing!!
03/10/06 @ 13:16
Comment from: bekagne [Visitor]

I had a great respect for Al Amoudi, but not anymore. I was stunned when I saw him, on more than one occasion, using his money to help suppress the Ethiopian people. I don't give a dime about his standings. To me he has become one of the oppressors. What he is going to do when we Ethiopian people succeed in getting rid off the TPLF regime?
03/10/06 @ 13:23
Comment from: Mirkana [Visitor]
Give me a break, the guy is a business man and he's protecting his investment.. How can that make him an oppressor? Financial assistance to the ETH Government is given by the US and Europe, in your world everyone that lives and pays taxes in the 2 continents are directly financing whatever is taking place in ETH
03/10/06 @ 13:35
Comment from: Hayalu [Visitor]
Alamudi is not investing to get a great respect from people like you who stand for distruction ana blackmainling. He is doing to make money and to help change the image of his beloved country. And TPLF is never been killer and will not be with the exception of anti peace and anti democracy.
03/10/06 @ 13:39
Comment from: Big Daddy [Visitor]
Money is not everything. A rich indian person is building a billion dollars university in india. Alamudin is building hotels and businesses? Hmmmmmmm, what an asset to ethiopia huh? WOW. Alamudi, bill gates is trying to eradicate polio from the world? Ur trying to eradicate what from ethiopia? Hmmmmmmmmm? Okay so u got 6.9 billion? WOW, we the poor people of ethiopia are impressed. U must be doing something right? Do u shit just as the rest of the people? Maybe you shit more cuz u eat more huh? Aint that some shit? to shit? U got 6.9 billion but u still shit? just like the yenay bitay on the street? its a damn shame

03/10/06 @ 13:41
Comment from: Mirkana [Visitor]
Big Daddy,

You don't need billions to help. Tell us what you have done?

Like they say:

"Think globally act locally"
03/10/06 @ 13:45
Comment from: Giyorgis [Visitor]
This Al-Moudi is like all other Muslim leaders we know. Their only goal is to exterminate all other religions and make every nation an Islamic State. Zenawi really doesn't care. Rules don't apply to the ones in charge. You can see this pattern in Iran, Saudi, Somalia, the former Iraq and Libya.
Ethiopia does not need Al-QUAEDA Agents...we have EPRDF and that is enough trouble.
AL-Moudi is giving the Ethiopians in good standing jobs.WOW! Most Ethiopians can't even stay in his hotel. I have yet to see a true leader of Islam grasp the concept of democracy-maybe because there is nothing democratic about it.
Peace
03/10/06 @ 14:06
Comment from: 4DICE [Visitor]
Congrats Mr. Al-Amoudi!!!!!Well deserved.

You are true son of ours. You have done a lot and we are proud of you!. Keep on doing what you are doing - You are first among equals!!

Let the talking heads spurt out this "you are either with us or against us" total nonesense of irrational sentiment. Their herd mentality can not fathom or easily understand diverging ideas or opposing points.

Wake up fellas, Mr. Alamoudi is working hard and creating jobs for his compadres and creating wealth for himself while you go on an endless bikering and keep on spitting out your venemous ethinic nonesense.

No need to rehash the past. Let us move on. Come on, get with the program quick and let us march on building our nation!

God Bless!
03/10/06 @ 14:06
Comment from: GEGNAW [Visitor]
congratulation, MR. Al AMOUDI keep up a good work.
03/10/06 @ 14:08
Comment from: Giyorgis [Visitor]
4 Dice,

Do us a favor and get your precious Al-Moudi to run for president of Eritrea.
03/10/06 @ 14:12
Comment from: Gundan [Visitor]
Dear negista Azeb,

We are discussing Al Amoudi within a context here. Remember, he was in the Forbes list last year, and no one let out so much as a sneeze. This time around it is different, this time, he saw it fit to interject his wealth, popularity and prestige to the center of Ethiopian politics, and people do have varying opinions about this.

As to the proverb ‘Be Atse Menilik yedenekore, Menilik yimut sil yenoral’, you are damn right, that we have to bring TPLF to the fore. We all know from history that Ethiopia had all manners of enemies and survived them through the perseverance of her heroics sons and daughters.

The ‘TPLF’ as a group, are the ‘COKROCHES’ of our generation, and no true son/daughter of Ethiopia is going to sit or sleep today, until they are eradicated from our land and from the backs of our people.

We all are prepossessed with them, because they are working day and night to destroy our people and our identity as a nation. But one thing I can assure you is this, they will be destroyed too and Ethiopia will, once again stand proud and tall, God willing.

Cheers,

-Gundan
03/10/06 @ 14:15
Comment from: Tola [Visitor]
The Saudi guy ,who finances the blood sucker government of Ethiopia,made some more money from the bloods of our brothers ,sisters ,fathers and mothers.It is obvious that some body should get something when some body losses as precious as his life.
03/10/06 @ 14:25
Comment from: 4DICE [Visitor]
Gyorgis,

You please do me a favore and read my comment above carefuly - you are at it!!!

""you are either with us or against us" total nonesense of irrational sentiment. Their herd mentality can not fathom or easily understand diverging ideas or opposing points."

Amigo, Comprende????
03/10/06 @ 14:28
Comment from: Wado [Visitor]
That is real wonderful to hear! The sheik is real doing a fine job for Ethiopia by putting most of his investments there. However, he needs to put some of his money to build schools, hospitals and roads in Oromia state because most of his investments are in this rich region. This particular region deseves to get the fair share of his investment money in terms of building those important things in that region. In Oromia, we always supportive of our native son: the sheik Al AMOUDI. His our native son and deserves the respect he needs it from his own people here and throughout the globe. By the way, I am very sorry for him by not having his own children. That is Allah's decision: Allah/God is great!
03/10/06 @ 14:34
Comment from: ZULU [Visitor]
I am proud of the great achievement of Mr. Alamo din. But, he must disassociate himself from those murders. I particularly did not like his speech during the celebration of the TPLF's gang invasion of Ethiopia. He said he does not mind giving his life for the thug government for allowing him to do business. Mr. Alomudin, if you want to do business any government welcomes you. Any ways, congratulation!!!
03/10/06 @ 14:38
Comment from: Wado [Visitor]
I know most of those derg thugs and CUD members are always against him one way or the other but it is up to him to support or not to any political party. However, we all agree on, it is much better if he stays aways from taking side with any political party so he can still maintain and have good stand in any situation.
03/10/06 @ 14:39
Comment from: Woleyew [Visitor]
The source of much of the money is Alkayed, and Natural resources he has looted from Ethiopia. Apart from that it is not surprising because the total amount of money he has would never exceed what a plot of a land such as Bademe and others worth. So take care every partiotic citizen, this message is purposly to divert your attention against him and his co (alike). Victory for Ethiopians.
03/10/06 @ 14:54
Comment from: Giyorgis [Visitor]
4DICE,

I GET WHAT YOU ARE SAYING. This AL moudi is something else. I wish EVERYONE COULD WAKE UP TO THIS FARCE. I had to read your comment again. I am with you.
03/10/06 @ 15:01
Comment from: ethiopian [Visitor]
I don’t blame you Al Amoudi, in a critical thinking, what you have done with EPRDF shows that you don’t believe them and don’t trust their artificial free-economy policy. So, go ahead and do it like the old way. Support them even if you don’t like them. Otherwise, ……who knows???
03/10/06 @ 15:01
Comment from: Musbha [Visitor]
Ethiopia Eternal Love - Sheikh Mohammed H. Al-Amoudi 1 of 10

Al Amoudi is a champion to all African; he has opened the door of super wealth to all Ethiopian / African/ Colored people. Over 180 million people have an African African ancestry so far AL Amoudi is the very few to achieve high level success without any political appointment and inheritance.

Now it is almost certain other Ethiopians in the future will have more wealth than 7B. As for Mr. Al Amoudi for being the first which is so difficult, we have to congratulate him and wish more wealth and health. And for all of us not billionaires, it is encouragement to work very hard.

Wealth to all Ethiopians

03/10/06 @ 15:03
Comment from: getah; [Visitor]
Did MidRock enterprise pay the 500 Mil it owed the Commercial Bank of Ethiopia?
03/10/06 @ 15:04
Comment from: wurgessa [Visitor]
People,please do not be fooled about this person so called Al-muodi.First of all, he is not an Ethiopian,he a saudi citzen. To me, that does not make me proud of him in any way. second: it is not good for the country to depened on a single person wealth since he owns major industries.Single person means single mind. God forbid, If things goes wrong with him , our country might be in big trouble. Third: This guy is making money. Yes, he has created many jobs that is true and good but,believe me that he taking advantage to make money, being born in Ethiopia, from an Ethiopian mother. Lastly, he is supporer of woyane,which is the most disgusting,courrpted,racist,low minded
short sighted, cheap, anti-Ethiopia ,anti-unity etc...Yes, he has everey right to support any political organizations of his choice but not at the cost of mothers, little children,and ethiopians blood.Inaddition, he has no any bussiness in Ethiopian politics since he is a saudi citzen.Even,according EPRDF constitute no foreign has right to endorse or elect in Ethiopia.Is he above the low because his wealth. we,Ethiopians,Since our country is poor, most of us come from poor family or it is our tradiation, we idolize the rich.To me i do not care about his wealth... I wish and pray one of us, true Ethiopian,who loves his people be like el-moudi even far richer than him.
Peace,for those who love peace with fairness of their heart.
Ethiopia Eternal Love - Sheikh Mohammed H. Al-Amoudi 2 of 10

03/10/06 @ 15:14
Comment from: kidus aman [Visitor]
Itis true that we ethiopians had not exprience in modern democracy. Last year election was the firist in our history which proved the lack of exprience we have in the process.Firist and formost we should respect the right of any ethiopian to support and vote any party.One the other hand all ethiopians have the obligation to support ethiopia. Ethiopia is the common factor to all of us.The contribution of an ethiopian to the development of the country should not be attributed to his\her support toCUD,EPRDF,or any other party.It should be assessed by what is clearly seen on the ground.More than any individual, Alamudin conrtibuted to the development of the country .If ethiopianess is to be measured he should be ranked second to noon.He is helping ethiopia and etiopians irrespective of theier relegion orethinic group.Some body who is suspecious of his mission should be realy paranoia and needs psychiatric consultation.
03/10/06 @ 15:30
Comment from: Robel [Visitor]

audioComment By Mohamed Alamudi (2 minute-Radio)
Ethiopia Eternal Love - Sheikh Mohammed H. Al-Amoudi 3 of 10

03/10/06 @ 15:37
Comment from: tommyboy [Visitor]
Some people over reacted over his support of the weyanes. I think that is typical of business people. It has never bothered me. He is investing in Ethiopia, so let him support he wishes. I think it is good he is Ethiopian.
03/10/06 @ 16:00
Comment from: Honest [Visitor]
Ain't it dandy when the #562 American does more humanitarian work in Ethiopia even as the #77 Ethiopian born Saudi man doesn't do any.
03/10/06 @ 16:07
Comment from: ZAGWE [Visitor]
Congradualtions. You have money. You have military power /Meles is your body guard/. You are From Saudi /Tigrai. A perfect combinitation to dictitate as you wish. May Alah give you a dot of blessing. That you can not buy!
03/10/06 @ 16:09
Comment from: TheMan [Visitor]
Who is he and who cares?
03/10/06 @ 16:11
Comment from: tommyboy [Visitor]

I heard his speech. I do not agree with his praise of Wyane. However, it would be shameful on anyone to suggest that he can't say the things he said. We are blaming woyanes for denying that same right to millions of Ethiopians. On the other hand we denounce the same principle we are fighting for. I think Al Amoudine is a great Ethiopian and should not be disrespected in anyway. Of course it is entirely OK to challenge him on his views, but to throw the words some of you spitting out on him is absurd. bye.
03/10/06 @ 16:14
Comment from: Teddy [Visitor]
Mr Al Amoudi, You are a very shrewd business man and proven that for the whole world.
My question to you/ or your … is this: ”Why in the hell you call EPDRF a democratic government?”
03/10/06 @ 16:21
Comment from: Hayalu [Visitor]
Teddy, I am not Alamudi, but I can answer the question. He called EPRDF a democtatic government because the government respects individual rights, like free speech, the right to vote and to demonstrate. Unlike the previous gov'ts. I know you don't agree with these ideas but it is true.
03/10/06 @ 16:44
Comment from: kemila [Visitor]
Ethiopia Eternal Love - Sheikh Mohammed H. Al-Amoudi 4 of 10

I'm not proud of him because when i compaired his money with Opera....
Opera did a lot of things for Africa and for poor people. His money support only TPLF party. Let me ask you Mr. Al Amoudi you born and raise in the city of Woldia wollo. Have you build school for that poor people, have you support the kids how don't have parents in other area included wollo. ave you give money for HIV survival...
I am so mad when i heard the money yu gave to TPLF ...
SHAME ON YOU
03/10/06 @ 16:50
Comment from: negista Azeb [Visitor]
Dear Mr. Gundan, I like your comment because atleast you have tried to be honest with yourself. Listen what are you going to sacrifice to salvage Ethiopia from TPLF or is it not easy to talk than to do!. Are you preparing yourself to free us from TPLF or you are waiting for someone to do the dirty job for you? And by the way if there no rich person do you think the poor will survive? or do you have a different meaning for the work rich. Remember richness and development go hand in hand. Thanks
03/10/06 @ 16:57
Comment from: Robel [Visitor]
To Nazret.com (Editorial.)

As it is clear from the term and condition of this web panel.

It is shame to you to edit my original text in u r own way.

03/10/06 @ 16:59
Comment from: Gudu Genanow [Visitor]
CONGRADULATIONS SHEIK AL-AMOUDI

You are an asset to out mother land Ethiopia, Please keep up the good work and get more investment to curve our country’s misery. I have one message to those negative people who are trying to blackmail Sheikh Al-Amoudi ; Can you compare yourselves with the Sheik and say I have done such to my country? I don’t think so, you are a bunch of fools who are trying to submerge the country back to stone age.

Ethiopia Eternal Love - Sheikh Mohammed H. Al-Amoudi 5 of 10

03/10/06 @ 17:13
Comment from: getah; [Visitor]
Hodam Hulu
03/10/06 @ 17:15
Comment from: Robel [Visitor]
To Gudu Genanew

Absolutely u r right. Ethiopia need such a commited people for devolopement. If ther are two or three more like Ato Alamudi,We would see in ETH a big change in devolopement.

So My country People please let us think +Ve thing.
03/10/06 @ 17:21
Comment from: negista Azeb [Visitor]
Gudu Genanew

Thanks for your senseble comment.
03/10/06 @ 17:29
Comment from: Gundan [Visitor]
Dear negista Azeb,

Concerning Al Amoudi, I have already expressed my views a little bit earlier and will repeat it here save you from cruising up and down this page:

--We should all respect Al Amoudi’s right to support whatever party he chooses including the despicable TPLF, after all that’s one of the tenets of democracy. In my opinion, he shouldn’t be vilified just because he is in a collision course with the majority of Ethiopians, after all democracy is the respect of minority rights by the majority.

We are all thankful for his investment in our homeland and he deserves praise for that. He has shown our former and current greedy leaders, that there is no need to spirit the country’s wealth to Swiss accounts, instead you could invest in Ethiopia, create well paying jobs for your people, update and upgrade the country’s infrastructure and get rich in bargain. This is a win-win situation for all, like having your cake and eat it too. I entreat everyone to stop bashing Al Amoudi. It’s his money and he has a right to support whomever he chooses. Just like we have the right to boycott Pepsi and Sheraton (frankly though, how many Ethiopians do we know that can afford twelve birr for a cup of coffee).--

As to your second question, that’s how committed am I to see the back side of Woyane? I can assure you that I am one hundred percent committed. I am ready to pay whatever it takes including my life and that of my family. I am sure you will be glad to know that, I am not the only one with this sentiment. There are thousands and thousands in my city alone, and this is one fire let me assure you, that’s not going out without burning down TPLF and completely.
Ethiopia Eternal Love - Sheikh Mohammed H. Al-Amoudi 6 of 10

Cheers,

-Gundan

03/10/06 @ 17:49
Comment from: Tola [Visitor]
If you people notice on his speech,Alamoudin talked about one country,one people,and one gov't.That's against the political program of the TPLF.May be this dude is doing what he is doing to protect his multi-Billion investment in Ethiopia.He will do whatever is necessary to protect his investment even if it takes the deaths of thousands of Ethiopians.He might help this gov't to last a little longer but not for ever.
03/10/06 @ 17:51
Comment from: Tola [Visitor]
Gundan
He had the right to support whatever party he liked before the May election,now we know TPLF has lost the election and killed innocent people in a called blood.If you support and finance this regime after all these massacres and evil acts,you should be held accountable.
03/10/06 @ 18:07
Comment from: GEEDIRAW [Visitor]
It is really sickening to see people, who are giving blind eyes for a person not long ago, just last week pledged, not only his money but gives his life for this woyane goverenment.
most of his employees were x-derge military members by doing so he knowingly assisted the regim:had not these people attened;Their military expertise might have helped resistance strugle against woyane.
last time meles was asked about EU sanctions his response was," ...after all,it is their money " so as shake Alamudin's money.most ethiopians have nothing to do with it.
03/10/06 @ 18:19
Comment from: Habtamu [Visitor]
I don't think the information is correct.Anyway it is good if that is the truth.It is clear that Mohammed borrowed a lot of money from Ethiopian banks for his investment in Ethiopia.If the news is true why don't he use his own money for his investment in Ethiopia so that the money he borrowed could be invested by other people?Anyway the actual investment done by this guy in Ethiopia and the money he borrowed from Ethiopian banks should be investigated.Anyway I don't think he look like a looter to me.
God Bless Ethiopia!
03/10/06 @ 18:20
Comment from: Bekele [Visitor]

Ethiopia Eternal Love - Sheikh Mohammed H. Al-Amoudi 7 of 10

This gentleman is trying to live in peace. He has not asked you to bless him or curse him. He does not need that. His money is his, not your mama's. Why do you talk so much about somebody else's money? I don't talk about your money. I don't know anything about it and I don't care. Talk about your own money, I mean, those you steal from the parking lots and the money you force your "members" to pay to Ethiopian Review for promotion. Woizero Mamite bakes injera and barely makes a decent living in DC. Ethiopian Review comes and asks her to advertise in their paper. If she refuses to pay at least 1000 US, then she is in trouble. Then they will sabotage her trade and tell their supporters not to buy from her and that hurts poor Mamite. This is how CUD earn their money to spread their tribal propaganda. Do you call that fair? Coercing hard working women? They dare not say it for fear of retaliations. This methods of Don Corleone have been adopted by Don Hailu and Don Mesfin too. Sheikh Alamoudi did not earn his money that way. Leave him alone. And why do some of you write as, WE ETHIOPIANS? You are not a WE, neither in numbers nor in the Royal sense. You are you and nobody else. Who the hell do you think you are, ye sons of darkness and ignorance. This is how lies begin. Talk for yourself, not me, not Alamoudi, not all the others. Nobody has given you the mandate to represent us.
03/10/06 @ 18:21
Comment from: Robel [Visitor]
Bekele

I srongly agree with u.

+Ve.
03/10/06 @ 18:29
Comment from: Hayalu [Visitor]
Bekele Well Done!
03/10/06 @ 18:50
Comment from: ijolle bale [Visitor]
realy i was wonder about this habasha shek al mudin creat 3904
jobs for those poor pepl so any one of u say lot of things about shek al mudin habsha malat iyyabalut yemmi kada daha yetafaxiro daha
but oromo pepl wee sapport him
03/10/06 @ 18:58
Comment from: GEEDIRAW [Visitor]
bekel&hailu,
hodaams!!our fathers and mothers told us eat to live than live to eat.ATASHERGIDU!
03/10/06 @ 19:08
Comment from: Satenaw [Visitor]
Just Few years ago this Fake sheik had only 1.5 billion, now he is reported to have 6.5 billion.

The money laundering partnership between the fake sheik and Tplf is alive and kicking.

I suspect a foul play some where, there for when we reclaim back our country from (you know who), we will take back what is ours.
03/10/06 @ 19:18
Comment from: Tola [Visitor]
Bekele

Ethiopia Eternal Love - Sheikh Mohammed H. Al-Amoudi 8 of 10

When we say Ethiopians,we mean those millions of Ethiopians who are proud of their country inside and abroad,you know whom I am talking about.You scared of them every gadam day.We are not talking about you and few cancers like you,you guys do not count anyways.
About the sheik,we do not care about his money but we care about our country,that's what he is messing with.
03/10/06 @ 20:02
Comment from: Dagim [Visitor]
What about Meles, Genet, Bereket, Sibihat,Arkebe and other tplf thugs? I hope we will see some of them even ahead of the sheik shik!!!
03/10/06 @ 20:19
Comment from: jay [Visitor]
have you guys herd tplf and the shiek will take ethiopia to a new hight economicaly and democraticaly.
selasie and mengstu sent the country 100 years backward, know thank god we have tplf to fix it.
03/10/06 @ 20:40
Comment from: so [Visitor]
Its the money of the Ethiopian resourses made with the collaboration of the Woyane'S
fake government & nothing to fool us you have the money.

Long live the Ethiopian people.
03/10/06 @ 20:45
Comment from: MUGAD [Visitor]
LEARNING FROM S.P.L.A. (SOUTH AFRICA)/ THE IDEA OF FORGIVENES.

S.P.L.A, under the leader ship of Mandela has created a peace full country with a strong economy and attracting many investors from all over the world. I am a strong believer of forgiveness’ we need to turn our face, we need to forgive our brother and sisters and start a new life. A life with what we use to be, do you see how the Jamaicans sell a photo of King Haylesilase and on the other side when we go to the Ethiopian store there is a photo of king Haylesilase but no one is buying, do you see the picture? I am not trying to preach you on any ideology, but what I am trying to say is OPEN YOUR EYES AND MINDS, PLEASE TRAY TO FORGEVE WE CAN’T GO ANY FURTHER WITH OUT FORGIVENES. WE NEED TO THINK AND RE-THINK . THENKS WITH LOVE !!!!!!
03/10/06 @ 20:55
Comment from: korgel [Visitor]
SO WHAT ? WHO CARES ? I care about him only when he stands for the truth.
03/10/06 @ 21:10
Comment from: tizibt new [Visitor]
I felt good seeing the news. Yet again, it remains a puzzle for me to see that this wise guy failing to woyane's trap. He would have been better off with a distance from TPLF. He has all the money he needs, what he needs most at this phase of his life was respect and admiration from people who can really offer. He is unfortunately faulterning, Faulterning big by supporting a fascist regime which has no mercy to its own people.
Ethiopia Eternal Love - Sheikh Mohammed H. Al-Amoudi 9 of 10

Supporting Meles's criminal regime can't be considered as political stand. It is way beyond that. Just like one can't claim to have a different political stand while supporting alqaeida. It is immoral and illegal to associate one self to a criminal entity. That is what Meles's regime is all about. With all due respect, Mr Alamoudi, I advice you to watch your stand. It wouldn't pay off at the end.
03/10/06 @ 21:17
Comment from: Thunder [Visitor]
MUGAD,

How can you forgive a bunch of hoodlumes who are selling a nation and are the mother of all terrorist?

IMPOSSIBLE!!!!!

03/10/06 @ 21:30
Comment from: Mimi [Visitor]
Bravo Bekele! Tell them as it is.

CUD may represent the Amhara's. But does nor represent all Ethiopians. Their moto is "ine kemotku serdo ayibkel" like the saying goes. Everyone has to suffer because they did not get the position they wanted. Who wants rules that are selfish and inconsiderate?

Wake up people!
03/10/06 @ 21:34
Comment from: tizibt new [Visitor]
" Nobody has given you the mandate to represent us"

A critic by the reknowned Bekele to those who say "we". According to Mintesinot, It is Ok to say "us" but not "we".
Ethiopia Eternal Love- Sheikh Mohammed Al-Amoudi 10 of 10

Yet again, there are Mimis' to chear him up!!!!
03/10/06 @ 21:50
Comment from: DM [Visitor]
Congratulations for being the 77th richest person in the world. $7 billion emmm....can make a difference for our poor country. Really you can make a difference if you are really want to change the country.
May God multiply it by 1000a?
03/10/06 @ 22:21
Comment from: shoko [Visitor]
Dear, Al amoudi
pleas think towic about the criminal ethiopa geverener
03/10/06 @ 22:28
Comment from: Dady [Visitor]
i visited this website after several months but most of visiters (diasporas) still talk nonsence as usuall. what a boring ! please put aside your stupid thinking and try to contribute something fruitfull . now i found that habashas knows only talking to much not working.
some of u are saying Al amoudi is not an ethiopian, who the hell r u then ? u all are holding american passport so u r not ethiopian ? stope insulting an invester who is feeding millions of ethiopians.

please go to school before comenting on political and nation's issue. i'm very much ashamed to read your stupid coment. huh.
03/10/06 @ 22:51
Comment from: Woyane yemitela [Visitor]
Good for you Mr. Alamoudi,
In my opinion you do a lot for Ethiopians. But to see you associating with the haters of Ethiopia,it hurts. Please do not tarnish your name by backing Melese's regime. The only sin that CDU elected officials commited was that they wanted to see good change. they are locked up for that. Melese is desperate. But his days are numbered.

Ethiopia will emerge once again.
God bless Ethiopia!!!
03/10/06 @ 23:13
Comment from: taddy [Visitor]
WE Ethipina proud of you Al amoudi

Al amoudi said "never forgets what the government of EPRDF first told me to invest in Ethiopia as this is his country. I would therefore support such a government and give his life.This partisanship also applies to my family"

God bless Ethiopia
03/10/06 @ 23:36
Comment from: taddy [Visitor]
WE Ethiopian proud of you, Al amoudi

Al amoudi said "never forgets what the government of EPRDF first told me to invest in Ethiopia as this is your country. I would therefore support such a government and give me life. This partisanship also applies to my family"

God bless Ethiopia
03/10/06 @ 23:40
Comment from: Metne [Visitor]
I THOUGHT HE IS AN ETHIOPIAN!
What is the Hysteria about him!
03/10/06 @ 23:44
Comment from: Sammy [Visitor]
Once again hater cud supporters are talking shit....cause they all shit anyways...but ya almoudi...am happy for u still...Ethiopia will be for the hard workers from now on...not those who sit on there ass and talk non-sense
03/11/06 @ 00:08
Comment from: Shewarega [Visitor]
Mr Al Amoudi,

Have you ever wondered on whose land
you built your hotel? Or as you said
on the current Woyane party there,
as long as Woyane tells you "galbebet" you do not care.

The answer, it belongs to Emebete
Semaetwa Aboye, and her husband
the Addis Ababa Oromo chief
Fitawrari Abaebae Tufa. You see
she was the cousin of Emeye Menelik,
hence the proximity to his house
up on the hill. Yanem kezarew
yebellette alem taytobetal.
Telantena be Haile Sellasie enkwan
bezu tesertobetal. Therefore, my
friend, if you have good intentions
to help the Ethiopian people, its
commendable. But supporting this
hateful, inferiorty complex driven,
ethnic tyrant who has wiped away
our identity, who is looting all
he could get his hands on, and calling us names day in and day out
will eventually only lead to your destruction as you profitically
mentioned in this party of hateful
occupiers dancing on the corpse of our noble people.

END
03/11/06 @ 00:21
Comment from: efrem [Visitor]
if ive a heart and a spirt that's better than alamudin or bill gates, i dont care for thier wealth because i might have better future in the coming life
03/11/06 @ 00:36
Comment from: meseret [Visitor]
you should not be weighed by the money you own,but by the faith ethiopian have in you
03/11/06 @ 02:34
Comment from: ALEC [Visitor]
Dear Sheikh Alamudi-

why would you come out and say you support such a ruthless government, that has lots of incont blood on his hand to improve your economical relation? do you think what Meles's doing to the people of Ethiopia the right thing? do you know that when Meles finally come to face at the hague for his war crime that you will be one of them. People of Ethiopia will not forgive and forget. frindship don't last longer...
03/11/06 @ 04:20
Comment from: Chafamo [Visitor]
Congurtulation Dear Alemudi..
you are praud Ethiopian ,God bless you and your property.
03/11/06 @ 05:06
Comment from: Doyoo [Visitor]
Empires rise and fall, wealth accumulated wealth dispersed.
No matter how much money Alamoudi has, he still spends sleepless nights not becuase of his worry about what he has but about what he can add on what he already has.
Alamoudi's alms to the woyane government is not political in nature but of a pure motive to widen the bussiness opportunity to accumulate MORE. No wonder he pledged to sacrify even his life for the TPLF/EPRDF government. Hope he doesn't entertain the idea of being a suicide bomber when the regime whose foundation is shaking and about to collaps.

Doyoo
03/11/06 @ 05:42
Comment from: tizibt new [Visitor]
Bekle,
You really are good in lterature. But as usual it is empty with out a grain of substnace in it. You pretend to write something of importantce but all that you do is damp your stinky filth on this forum. Just not to let you go away with your lies. Dr Birhanu has never been and never was an American. CVouldn't ahve run for election carrying an Amercian citizenship. Don't tell us that the masters of black mailing, TPLFites have kept quite so far knowing well that he is an American. Look after all those beautiful literature, what comes out is consisitent lie. On the other hand, here are some persoanlities among TPLF condoms who were abraod and took the opportunity to loot that country when EPRDF took power. Some of whom still maintained their non Ethiopian citizenship. Dawit Yohannes (former DC cab driver)and house speaker, Ato Kifle (prime architect of EPRDF's constitution), Kemal Bedri the head of the infamous election board, president of the supreme court, head of constitutional affairs and the late Dr Abdulmajid, the only one with cerebrum (former UN ambassoardor), DR Kasu Ilala current head of southern people..,and minstre of capacity building Professor Endirias, current AAU president and Meles's buddy (advisor), Dr Samuel (current washington Ambassador), former ministre of social affiars (still Australian) to mention just a few. I don't want to go to the list of "Sheraton gangs" who have recently extended their arm to US, which I am afraid you are a meber of. None of these have suffered a fraction of what he has endured from the previous regime Tegadaly Bekele tries to associate him with.

Do you need more facts. Next time I will write more about the sheraton gangs for which you have a mebership.

Till then, good bye.
03/11/06 @ 07:56
Comment from: wogenawe [Visitor]
Melees Alamudi and co are the Mafia gruppe in Ethiopia.We Ethiopians we must fight them till it is comming the real demokratie in our country.
03/11/06 @ 08:07
Comment from: alex [Visitor]
Congratulation Mr. Sheik Alamoudi on your success to be named in the list of the billionaires. Good Job man.
You have the right to choose to support any political party and I appreciate your openess in this case. When you did good things for Tilahun and other people affilated with former Derg regime EPRDF did not say any thing unlike CDU and I would like to appreciate EPRDF on this regard.
Alamoudi keep your effort to alleviate the poverty of our country and advise EPRDF to be flexible on its way of handlig political cases.
Good Job Alamoudi
03/11/06 @ 10:40
Comment from: Wondwossen [Visitor]
Well,

"You will never catch a fool with money!"

As much as most of us differ in opinion about the 77th richest man on this planet, we all have to agree that there are some very good points to be proud of.
He is the richest black person!
He is related (born and half by blood) to Ethiopia, one of the poorest nation!
He is growing! and fast!
He pledges to allign himself with ethiopia!
thank God for that....
Now, I wish he was saved, so that he will also go to heaven! because we all will not last long, some 70 or 80 years only, and the rest is waekness.
And relegion does not guarantee what is to come after death on earth!
And if this man got saed, and our political leaders Got saved (soul) it definitely will be better for the whole nation and even the continent that Ethiopia is bound to lead, I even want to say that will be good for the black race.

But now we have to congradulate the richest black man, Al Amoudin. We hope you mean good for our Ethiopia.
03/11/06 @ 11:20
Comment from: ZERYAWKAL [Visitor]
It is ok! To see an ethiopian
being a rich man computing with
the world's prosperous persons.
But dear Alamudi don't be biased
with whatever political occations
because as time goes political situations also change emprically
So, please don,t do like this except helping your country as before.
FROM YOUR SITE OF ORIGIN,DESSIE!
03/11/06 @ 12:50
Comment from: ensmama [Visitor]
Does it matter where Al-Amoudine gets his money as long as he invested in Ethiopia?
Is it not his democratic right to affiliate with any party he wishes to?
Supressing one's right of choice and forcing yours into someone is contradictory to democracy.
How many of you guys stealing money from parking lot and gas station to build $1M dollar worth of house in Ethiopia or trying to do business.
Should you also be investigated?
"before you take out a spike from your eye, how could you tell your friend to take a spike out of his eye".
After all, he is helping the ethiopian people.
Finally, Thanks to this individual who serves his country in action.
03/11/06 @ 12:53
Comment from: Yirgacheffee [Visitor]

I would trade my good looks for wealth any time!
03/11/06 @ 12:58
Comment from: kidus aman [Visitor]
What is the definition of true ethiopian?is it manifested by suporting this or that paty?or by singing a song about ethiopia?by organising public demonestration and manifesting the hatered towards EPRDF?the answer is none of the above.We know that many peaple especialy those in diaspora are investing outside and ethiopians are not benefiting from them. These individuals are also shouting to stop any aid to this poor country.How can these people be compared with alamoudin.If it was not for the help of alamoudin the office for the african unity could have been in tripoli.every thing he is doing is permanent property of ethiopia.LONG LIVE ALAMOUDIN.
03/11/06 @ 13:15
Comment from: tesfaye [Visitor]
Congratualtions on your success. You have also the right to support any political party. Good that you talked about unity in the country that is what we want.keep it up!!! Please,try to also help to restore peace in the country which may be good for the wellbeing of ethiopia and your investment.
03/11/06 @ 13:33
Comment from: kidus aman [Visitor]
How long are we going to stay in vicious cycle? We are always confusing and mixing the ruling party and our country and its people.when we want to oppose the ruling party we do it by harming our people.Let us look the last 30 years and we find that all oppositions against the governements harmed the poor people than the government. Mengistu ruled the country for 17 years and currently he is comfortably living in zimbabwe .Melese is going to stay in power atleast for 20 years and nothing is going to happen for him after that.The net result of our opposition should be clear to all of us.Now ethiopia is one of the poorest contries in the world. millions are suffering from communicable dissease.We can oppose any party or organization systematicaly and in a modern way.In ethiopia no party ,organization or individual should be considered as an enemy.The enemy of this country is poverty.We should concentrate to alleviate this situation.At least let us not discourage indiviuals who are are actively participating in this process.Let us resepect any bodys idea and support to any party.Is it a crime to vote for the republican or democratic party in USA .The citizens of USA respect the right of their billioners to vote for either party.Ethiopia is lucky enogh to have one of the billioniers.Like any individual he has the right to support what he likes.We should be able to differentiate a governement from the country and its citizenes.This is the time to wake up and stop the vicious cycle of enemity to each other .
03/11/06 @ 15:00
Comment from: Alem [Visitor]
The fact that an Ethiopian, at least by birth, is named in the top 100 richest people in the world is a BIG DEAL. He is the richest Black Man on the Planet, impressive stuff.

There is no doubt in my mind that Al Almoudi has done a great deal to contrinute to Ethiopian economy. One only has to visit Ethiopia and witness for yourself.

And no one should deny Al Amoudi who he supports politically. But in my humble opinion it was a BAD JUDGEMENT on his part to support TPLF in public. He is a big time businessman and investor and his support of Woyane has been very polarizing, and it serves no purpose in the long term. Because Woyanes time are almost over. Unless he is completly out of touch, anyone with the right mind knows that, Election 2005 was stolen, so why would a man of his caliber and stature would put himself for ridicule by supporting Woyane or any government for that matter in public.

His strength is how to make a dollar out of 50 cent and he should focus on that and get out of politics.

I am outa of here
03/11/06 @ 15:17
Comment from: Nurehussien [Visitor]
Bastard ARAB! Woyanes Pupet!
03/11/06 @ 15:37
Comment from: Bekele [Visitor]
All CUDs/NEFTEGNOCH/DERG AND THEIR LITTERS

I wish you all a good day and I send you my blessings.

Take heed, O ye denizen of the underworld of DC and LA, for you will go about weeping and wailing in sackcloth and ashes when day of reckoning and gnashing of teeth comes to Kaliti! I hope you will be thrown into a den of hyperactive lions, O thou sad TRIBALISTS! Harken, O thou who art a byword for idiocy, for you will be trampled by a herd of stampeding pigs! I hope you will be swallowed by a whale with excessively bad breath, thou lazy NEFTEGNA and Derg remnants! I pray thou shalt be turned into a pillar of salt, O ye offspring of a squashed cockroach and eaters of Kentucky Fried! Thy name is CUD. Woe unto thee, O thou babbling CUD/Neftegna, for you will see your pomegranates wither even between your legs! Behold, thou shalt be kicked by an incontinent camel, O ye breaker of the commandments and the constitution and ye INSTIGATORS OF ETHNIC CONFLICT! Take heed, thou irritating inhabitant and lobbyist of DC, for you will beget difficult teenagers that forever will live of ganja! Woe unto thee, O thou sulphurous, vitriolic, vociferous nonentity, for you will be smitten with all-over boils! We acknowledge, O LORD, their wickedness, and the iniquity of their fathers, those breakers of thy commandments: for they have sinned against thee and against those peasants of Ethiopia suffering from drought and poverty. CUDs/Neftegnoch/Derg litters are vanity, the work of errors: in the time of their visitation they shall perish for ever and ever Amen. While EPRDF/TPLF shall live forever.
03/11/06 @ 16:52
Comment from: Mike [Visitor]
To Nurehussien

You said: "Bastard ARAB! Woyanes Pupet!".

Why you hate Arab ???

Are you hate muslim ethiopian ???

What is the difference between muslim ethiopian and Arab???
03/11/06 @ 16:54
Comment from: Nurehussien [Visitor]
To Mike
Being enemy #1
03/11/06 @ 17:17
Comment from: Asgedom [Visitor]
What do you expect from a man with mony but with out brain. I am amazed how idiot he is by associating TPLF. But again he is Arab
03/11/06 @ 17:26
Comment from: tizibt new [Visitor]
Bekele,
As previlidged member of animal farm (TPLF sponsored sheraton gang), you defintely would have a greater opportunity to deal with all of the animals you refered to . Pray to survive the stampede from your compatriot pigs on the day the people of Ethiopia previal over their oppressors and buchillas like you.
03/11/06 @ 18:04
Comment from: Doyoo [Visitor]
Mike
There is a world of difference between Arabs and Ethiopian Muslims.
The Arbs well know the Arabic language and so they can read the Quran, whereas Ethiopian Muslims don't know Arabic so they can't read the Quran which is full of hatred towards Christians, Jews and other non-Muslims. Got it?

Doyoo
03/11/06 @ 18:20
Comment from: Ethiopiawit [Visitor]
Long life le "Al-Amudi"
03/11/06 @ 18:47
Comment from: lily [Visitor]
you are un idiot
03/11/06 @ 18:48
Comment from: ahmed [Visitor]
Al-aumdi you are our hero, father.

you are the muslim power.

keep it up.
03/11/06 @ 19:33
Comment from: wozeiro condjo [Visitor]
It was with utter disgrace that I was reading most of your comments in this forum, dedicated to the wealth of Sheikh Mohammed Al Amoudi. One does not have to be a rocket scientist to figure out who are most of these people who are stating their bias opinion and try to impose on others their tribalism.
Let us come clear on this. Only Amharas are the ones who are green with jealousy.

Let us come to one understanding, Oromos, Guragues, Somalis, Haderes, Kotus of Harrar…etc we are all Ethiopians. You like it or not. We do not have to be Amharas to be considered Ethiopians There is no such equation, Ethiopia = Amharas.

First and foremost it is irrelevant how this man got all this wealth. The one thing noble about him that we, Ethiopians should be grateful for, is the fact that he chose his country of birth to invest and give the chance to make decent living for so many of our compatriots. There are about some thirty thousands people working in Ethiopia for this “Arab”. This man is only ½ Arab, the other ½ is Wolloye. So according to your distorted mentality a person from Wollo is not an Ethiopian anymore??? Wow, it is getting very interesting!

The man could have invested this money in any foreign country and be respected for it.

Second, it is unfair to judge him on where he stands as far as Ethiopian politic is concerned. He has all the right to choose any party; but it was not smart, business wise, for Sheikh Al Amoudi to express explicitly his political affiliations. But again, who said that there is correlation between wealth and brain?? Most of these people on Forbes’ list do not even have a Bachelor Degree.

Here are my opinions about most of you guys. First learn how to spell and write in proper English. An eleven years old child can write much better English than most of you guys/gals. It is a shame that most of you living either in Canada or in the US and are never trying to attend any school to improve basic English language. All of your ambitions is to work in a place like parking lots where you can steal and just show off your SUV.

03/11/06 @ 20:01
Comment from: Qassim [Visitor]
good job my man, at least you earned it.
03/11/06 @ 20:14
Comment from: bordede [Visitor]
Dear gundan:
I really share your ideas
what a great idea and thinking
cheeres
03/11/06 @ 20:39
Comment from: nanny [Visitor]
WOW, congrats!!!!!!!!!!!!!!!!!!!!! great work !!!!!!!!! Dr.Al-Amudi you diserve respect for doing this for ur country and change history!!! we were known for been example for famine you really are a great bussiness man,,, I hope we will learn a lot from you which is hard work. great bussiness man!!!!!!! lot's of respect for ur work and great acomplshment. wish you all the best for the years yet to come from CHICAGO.
03/11/06 @ 21:00
Comment from: Thunder [Visitor]
Yirgacheffee,

I know, let alone your looks (I am sure you are the exact image of your master melese) you can even sell yourself whene it comes for money. Money is your god. I don't blame you since money is new for you! You are a chaff in the wind, if you know what I mean!!!
03/11/06 @ 21:05
Comment from: Shewarega [Visitor]
Weizero (zero) condjo,

Please explain, where is Wello?
Look at the current disfigured map
of Ethiopia and please show us
where it is. The only provinces
I see is Tigray, and it has kinda
shifted left and swallowed quite
a bit of land that belongs to somebody else. Ye Gondar ena Gojjam
denberu Abay, Ye Gondar ena Tigray
Tekezze, Ye Shewa ena Wello Beshlo,
Woyane endemyaleksew demo, Ye Tigray
ena Eritrea Mereb new. The rest is
teret teret yelam beret.
03/11/06 @ 21:35
Comment from: Negussie Woldemariam [Visitor]
Congratulation!
DR, Shiek Mohamed alamodie,We Democrat Ethiopians proud of you.
03/11/06 @ 22:05
Comment from: Yirgacheffee [Visitor]
Thunder,

My Neftegna girlfriend would disagree with you on my good looks! Besides, I would rather look like Meles than your master Mengistu or even worse, Birhanu Nega! I would rather have the brains of Meles than your retarded master Hailu Shawel! I would rather have the wealth of Alamoudin than your broke Cab Drivers in DC. Now if you will excuse me, I have to go relax in my Bole mansion.

Later Thunder
03/11/06 @ 23:38
Comment from: yoni [Visitor]
Correct me if i'm wrong

Dislike The Shiek = No muslim votes
Like The Shiek = 50% of nation's vote

It looks like a 2nd grade math to me. If i had a party to vote for i would expect my party leader to do the math.

still love u
03/12/06 @ 00:58
Comment from: Thunder [Visitor]
Yirgacheffee,

Dream on!!!

03/12/06 @ 02:27
Comment from: mudin [Visitor]
Yirgacheffe

What's Meles's education level, You seem to talk about how smart the man is, let's know his education level if you know it at all???
03/12/06 @ 05:00
Comment from: Helina [Visitor]
AWAJ AWAJ...ETHIOPIANS....SEBER ZENA...GO TO ETHIOPIAN COMMENTATOR CLICK ON DEJEN RADIO MARCH/1/06...WHAT WOULD YOU SAY ''NEFSE GEDAY KADRES''
03/12/06 @ 07:20
Comment from: wozeiro condjo [Visitor]
to Mudin, Yirgacheffe, Thunder, Shewarege:

Hello little boys, needless to remind you that this is the forum for Sheikh Mohammed Al Amoudi; either you congratulate the man or express your venemous (Amharas)comments only; It is not a forum where uneducated, simple mind, envious "little boys" exchange their radical, distorted political views. If you guys want to say something about Meles, bring it to the attention of this Web Cordinator to open a forum where you guys can insult each other to eternity. So, let us all Ethiopians take a moment to congratulate Sheikh Mohammed Al Amoudi to be the first man with black heritage to be nominated in the Forbes'list. Let's keep our envy and unfounded accusation on the side and be proud of this man who has invested more than any one else in Ethiopia. So join me to say,"Cheer Sheikh Al Amoudi for the very good year in your business dealings"
03/12/06 @ 07:30
Comment from: Agereazene [Visitor]
Congratulation to Ala Moudi;

It looks good to hear your wealthiness however I am sad when I think your other sides probably weakness that can be corrected otherwise thoughtful taken as a risk or messanger of hidden agenda. After all you have flesh like all of us have, you will leave behind all what you have and used to do, you can't take any of it but your soul. Think of what you are accumulating for life, think of the people who loved and admired once.. now asking why he turned blind and run to support the tyranny, totalitarian regime.

I wish you think of once again and advise the leader who you have been promising even your lives for their ministry.. but why, what does it mean. You came as nationalist but now are are becoming opportunist, but why.. to accumulate more wealth... don't forgot all will pass but good deed and truth will..

thanks sir coming again to your mind and work for the betterment of once your fellow citizens..history will prevail.
03/12/06 @ 07:53
Comment from: QORQORO [Visitor]
If Almoudi was amara christian you would have carved him a statue bigger than the Aksum obelisk..
03/12/06 @ 09:45
Comment from: tripleX [Visitor]

Al Amoudine is half Amhara, qorqoro.
You make too much noise.
03/12/06 @ 10:06
Comment from: Mike [Visitor]
To Doyoo

You said: "There is a world of difference between Arabs and Ethiopian Muslims.
The Arbs well know the Arabic language and so they can read the Quran, whereas Ethiopian Muslims don't know Arabic so they can't read the Quran which is full of hatred towards Christians, Jews and other non-Muslims. Got it?".

That means you hate always muslims wether they are ethiopian or not. Because all muslim ethiopians know Quran. So i was always right to say that christian ethiopians have problem about muslims in ethiopia.

Liotolstoy, said that love your neighbour otherwise you will loose. So ethiopian neighbours are : Sudan, Kenya, Somalia, Eritrea, Djioubuti and in near distance Saudi Arabia and Yemen.
03/12/06 @ 10:21
Comment from: Mike [Visitor]
To tripleX

You said: "Al Amoudine is half Amhara, qorqoro. You make too much noise."

False, because the meaning of Amhara is christian. But Al Amoudine is muslim !!!

Wollo is not a christian state or Gojjam or Gondar are not christian states. In wolo lives mor muslims than christians. But only christians are named Amhara and not muslims inhabitants, they are simply ethiopian and muslim.
03/12/06 @ 10:26
Comment from: Yirgacheffee [Visitor]
Mudin,

He received elementary education at the Queen of Sheba Junior Secondary School in Adwa and completed High School in 1972 at General Wingate School in Addis Ababa. He then joined the Medical Faculty of Addis Ababa University where he studied for two years.

Meles interrupted his studies in 1974 to join the struggle against the Dergue regime.

Upon his return from the field, Meles acquired a First Class M.A. in Business Administration and another one from the Open University, following the distance education he completed between 1993 and 1995.

Source: BBC Biography
03/12/06 @ 10:38
Comment from: Sima [Visitor]
To Doyo,

If u had red ur bible u dont have to red Quran to convert ur self in to Islam, so first try to red ur owen even if it is so confusing because of its most verses clash & oppose each other.

Again u have no moral to abuse muslims and their Quran (True reference and guidance) Since the muslim ass is cleaner than ur mouth.

Doyoo, i recomend u to clean up ur mouth it stinks.
03/12/06 @ 11:59
Comment from: wozeiro condjo [Visitor]
Come on you guys, we are here on this forum to talk about this Sheikh Al Amoudi. Not religion, not Meles. Capish?? Testa dura??

Let me quote Haile Selassie, “Religion is an individual issue, but the country (Ethiopia) is for everyone.” – “Haymanot ye gara nw, hager ye hulum nw”. So let us keep religion or any belief system in our cozy home. When we leave our home we are one – Ethiopian- not Amharas but Ethiopians

In Ethiopia religion should transcend tribalism.
Get inspire by listening to the lyric of Theodros – “Anchim be yamanotish, enem be yamanote”

As it is, we are already divided into so many tribes, so many political factions and the worst being the socio-economic strata.

When the French were defeated in the war of Algeria, the French president at that time, Charles de Gaule said, - “Pride is tasteless, colorless, and sizeless. Yet it is the hardest thing to swallow.” This quote is for the Amharas who are still resenting that a Tigrean administration is in power. There was a time when Amharas were in power, believe me there were so much atrocities, but no one resented them. The Arabs have a saying, “ Kulo bil wakto” which translate in the facto language of Ethiopia, amarigna “hulum be guizew”

Since we are on this sheikh Mohammed forum, let us talk about him.

Sheikh Al Amoudi
If ever you read this forum, please note that when the king of Saudi Arabia died he was buried in a simple white garment. No palaces, no jewels, no billions were buried with him. Only his body in that white piece of cloth.
Since your bio says that you are in your 60’s with no kids, and now that you have proved yourself to the point to be nominated in the Forbes’ list, please now prove yourself to be humanitarian as well.

I am not suggesting giving alms left and right, but helping so many entrepreneurs as a stepping stone. There is a universal saying, “Instead of giving fish to someone every day, teach him to fish”.
There are thousands of fellow Ethiopians who have brilliant business ideas, but no collateral to start their business. It will be of immense help if you can put some money on the side for this project. – Helping hands to future at least millionaires.
As we all know, you did not achieve this status without the help of someone very generous.
03/12/06 @ 13:20
Comment from: Tedla Asfaw [Visitor]
He is number 77 and let all Ethiopians call him number 77 who is putting his wealth to the service of child and women killers.

Wait a minute!! What do the riches of the Saudi royal family has brought to the Saudis??

It brought Bin laden and his comrades who are now in a holy war with the rich nations of the world.

Number 77, please use your money for those who are suffering from AIDS and we will call you our beloved richest man of the world number 1.

Ma Salema !!
03/12/06 @ 14:03
Comment from: hobnob [Visitor]
mr. ali has done a lot for the country. he has given work and a glimpse of hope for many. which is worse? to sit in the sun day-in day-out doing nothing or consider the idea of becoming a muslim.what has ethiopia gotten from thousands years of orthodox christianity? over inflated ego and too many holy excuses not to work.
03/12/06 @ 15:46
Comment from: Thunder [Visitor]
condjo,

Ethiopia is being destroyed as a nation and its people are being murdered by TPLF/EPRDF and Al Amoudi is financing the TPLF/EPRDF. Do you see the picture? As an Ethiopian I don't think I should praise a killer. I condem him for what he is doing againest Ethiopia and its people for his own greed. He is destroying a nation and the people. Shame on Al Amoudi and his buchillas!
03/12/06 @ 18:07
Comment from: YEBOLE LIJ [Visitor]
LONG LIVE SHEIK AL AMOUDI! JIGNA WEDI ADUA!
03/12/06 @ 18:38
Comment from: Yemata [Visitor]
wozeiro condjo

I think you are new to this forum. I say this as I keep reading your futile attempt to remind posters about the topic, which is about Shiek Alamoudi. As you could see for yourself your appropriate advice has not been heeded. Welcome to Nazret.com forums. You should expect more of the same in the future. The postings are rarely about the topic at hand, they are about the easily predictible and continuosly polarized attitude in Ethiopia.

I for one join you in congratulating the man for his unbelievable achievement. Only comment I have, well, I would imagine a person of his stature should have known better than wearing an EPRDF T-shirt, and thereby setting himself to unfair bombardments as a traitor of Ethiopia...

And on what Hailesilassie said, a correction, it should read "Haimanot yeGil, Ager YeGara" not as you put it-“Haymanot ye gara nw, hager ye hulum nw”.

Peace
03/12/06 @ 21:14
Comment from: wozeiro condjo [Visitor]
To Yemata,

Thank you for the correction. I mean it.
03/12/06 @ 21:35
Comment from: Tesse [Visitor]
Sir congratulations!
I think you were 104th some three or fours years ago now you are at.....
I think there is some crime that you committe ,that makes you TPLF supporter.May be this achievement is a fruite of that crime.Believe me it is just a matter of time that TPLF and you (if there is some wrong you did) will come to justice.
selam for Ethiopia
03/13/06 @ 02:50
Comment from: think about Almoudi after 9/11 [Visitor]
yaa, he is billioner. He is killikng poor people of ethiopia and displacing innocent Gugi Oromos.

Who knows, my be he is behind september 11 (9/11) bombing. Because that day is ethiopias new year where his hotel (Sherton Addis)had a lots of fun. I usual think, why 9/11 bombing was just on ethiopias new year. I think CIA need to look back this man. He is even playing with blood of innocent, poor people of ethiopia especial Oromo people by funding terrorist Governement, Meles Zenew who lies 100 times to international community.

One day he will pay back the money he is amassing from innocent Oromos.
03/13/06 @ 03:33
Comment from: Bekele [Visitor]
CUD Totorial for genocide

1. The enemy is qualitatively different than us.

2. The enemy represents some great evil. They are demonic, fascist, fundamentalist, etc. The evilness of the enemy is eternal. They have always been evil and they will always be evil.

3. The enemy has harmed us in the past with impunity.

4. The enemy has plans to harm us again in the future.

5. Unlike the enemy, we are noble and deserving of the good lives that the enemy would deny to us

6. The enemy is united so we must also be. Those of us who undermine our unity are traitors or agents of the enemy.

7. This is the final battle. If we win we will move on to a bright future free from the threat that the enemy poses.

Once the enemy is identified and associated with evil, then the road is wide open for Satenaw and the like to swing their machete.
03/13/06 @ 04:53
Comment from: Hailu [Visitor]
Good news to ethiopians and africans who so ever got his interpernership prevelages.I hope you will do much in ethiopia incolboration with EPRDF,that is every ethiopian wish.Mr.Alamudi don't get any confiusion with left extermist CUD illegal groups.do much in ethiopia and root out the old cultural orthodoxy blives from the serface.thank you Sir......
03/13/06 @ 06:47
Comment from: Satenaw [Visitor]
Yirgacheffee

You said” I would trade my good looks for wealth any time"

Are you saying that you are ready to bend over to the Shekshaki Alamudi to screw you?
No surprise there, you Tigray cadres do anything for money including prostituting yourself for a dime, specially a wealthy Arab comes along, that will make your day.
Have fun!!!
03/13/06 @ 07:02
Comment from: yaf_satenaw [Visitor]
Shame on those of you who think of boycotting H.E. Alamoudi to send him bankrupt.

You have approved your real image infront of the world. You see this is why we are poor. ENVY is what can describe us all.

This man has come to his poor people just to contribute in the way he can, then he felt in love with the leaders because he has seen them sweating day n night for the good of their people.

Then you cabbists come from a corner and try to destroy his reputations and want to bankrupt his businesses.

But this man is sent by God to Ethiopia to help its people. That's why he excells all the 100 something people before him.

This is a sign dudes confess to the lord and your country to save your ...

BTW, he has finished a contract to buy 'Legedadi', now we will see if you still gonna BOYCOTT its product. ;-)))))))))))))))
03/13/06 @ 07:09
Comment from: Dagmawi Yosef [Visitor]
The 77th richest person in the world is an Ethiopian by blood.How ever, His contribution to the nation is not significant. His main focus is sided on the tyranny government who abused the poor nation. Currently, he is becoming the agony of the poor people of the nation as he is prefering to be the back bone of the dectator group of the country.
Let him be sided on the decator,s walk, we Ethiopians shall win the tyranny.

03/13/06 @ 07:30
Comment from: Satenaw [Visitor]
We hear that this fake Sheik is a billionaire. However, is there any figure to tell how much money the fake Sheik invested in Ethiopia? (I mean investment from his pocket)
On the contrary, according to the information I have, the fake Sheik owes 13 billion Birr (1.5 Billion US Dollar) to Commercial Bank of Ethiopia.hammmmmmm…

Does anyone know how profitable Sheraton Hotel is? What I do know is, based on the information I have, that the owners of Sheraton Hotel are Meles and Al Amoudi.

03/13/06 @ 07:42
Comment from: kechinu Alebachew [Visitor]
We are proud of the news that a black African poor is being the 77th richest group of the world.

However, we need the heart than the head to be part of the people of the poor. This perso is rather prefering to be partners of many of the beautiful ladies of the country. In this case I am ashamed of saying this but the realty.

He is highly in need of dating any of the beautiful ladies and I thing this may contribute for the spreading of the deadly virus.

03/13/06 @ 07:45
Comment from: RAYA [Visitor]

MOHAMMED AL-AMOUDIN
King of the King of ethiopian
prised from God
ever living
Sceikhi let god be with you and your family

FORSA AL-Amoudin
03/13/06 @ 08:48

Ethiopia's Mohammad Al Amoudi named 2nd richest person in Saudi Arabia

Ethiopia's Mohammad Al Amoudi named 2nd richest person in Saudi Arabia
Ethiopia's Mohammad Al Amoudi named 2nd richest person in Saudi Arabia

Source: Arabian Business

Born in Ethiopia to a Yemeni father, Mohammad Hussein Al Amoudi was raised in Saudi Arabia and is today considered one of the largest foreign investors in Sweden and North Africa.

He made his first fortune in construction and real estate before branching out into buying oil refineries in Morocco and Sweden — where he was honoured with the Royal Swedish Order of the North Star by King Carl XVI — and his native Ethiopia, where he bankrolls the national soccer team.

By the end of last year, the current economic crisis had taken a toll on a number of Al Amoudi’s Swedish investments. The stock exchange lost over 30 percent of its value between August and December 2008, while the plummeting oil price hardly helped Al Amoudi’s oilfield operations.

Yet while the Nordic region’s biggest economy is still in recession as the global paralysis of credit markets undermines consumer spending and saps demand for Swedish goods, the stock exchange has bounced back to summer-2008 levels. And that’s good news for investment behemoths such as Al Amoudi, who owns a broad portfolio of businesses not only in oil but also in mining, agriculture, hotels, hospitals, finance, operations and maintenance.

His holding and operating companies, Corral Group and the Midroc Group, employ more than 40,000 people. Corral Group has an investment portfolio in Europe and the Middle East that includes Preem Petroleum, the largest integrated petroleum company in Sweden, Svenska Petroleum & Exploration, SAMIR, Naft Services Co (Saudi Arabia) and Fortuna Holdings Co (Lebanon).

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99 comments
Comment from: challenger [Visitor]
Do you have a dollar, 1/2 brother?
08/31/09 @ 22:19
Comment from: Gonder [Visitor]

Good to see an Ethiopian doing well.

08/31/09 @ 22:53
Comment from: elcad [Visitor]
This time he made most of his money in Ethiopia at the expense of Ethiopians. He bankrolls the national soccer team as well as he bankrolls the blood sucking junta and his call girls in Addis Ababa. No body gives a goddamn shit about his ranking or what ever.
08/31/09 @ 22:54
Comment from: amare [Visitor]
He is a smart dude..many people in DC area used to run around to strike a quick money from the Sheik by bending down their sisters and girl friends as quickly as possible. Now, he is the #1 enemy for his choice of political party in eth. He is no longer enthusiastic on investment in our country with so many loud mouth people accusing him of all kinds of things.
Gov't cannot create jobs - he would have been the best investor to our country. Because he is genuinly caring and generous to his people. He is a true ethiopian...
08/31/09 @ 23:06
Comment from: asmara [Visitor]
hey ali u can inverst asmara too
08/31/09 @ 23:34
Comment from: Shablel [Visitor]
He is all blessed to all the works of his hand by GOD besides he is smart educated.

08/31/09 @ 23:37
Comment from: Shegaw - Yayew Hulu Yidenekal [Visitor]
Who gives a shit about how rich this bastard arab is.
It is not how much someone has in the bank that counts, but how much kindness they have to share
I have never came across someone who has confirmed that this flamboyant Arab has done for him or her.
All that matters to him and the Arabs is money - women -alcohol.

Not long ago he was working in a famous "Bar/brothel" in Dire Dawa, called "Mamita Neuzola" and no one knows for sure where all these money came from but all he does is have nights of orgy with 2 or 4 girls in the same bed same night and then shower these girl gold and perfume. Big deal.

09/01/09 @ 00:06
Comment from: Yoyoma [Visitor]
Long Life, to you Mo! Keep moving up! The more you give, the more you get!
God Bless you!
09/01/09 @ 00:11
Comment from: observer [Visitor]
Gondar:
What language do you understand better? The English language clearly stated that this man is not Ethiopian. He is a Saudi citizen.

I still don't understand what kind of business this foreigner do in Ethiopia and how much Ethiopia benefited from his business. No transparency no one knows except the woyanes who take his money.
I heard that he controls all the gold of Ethiopia and yet what is Ethiopia's share no body knows except Meles and his wife.
In such corrupt business deal every citizen have the right to ask what this guy is up to. Make it official then we will see whether he is bleeding our country or helping.

Amare: Define Ethiopian. This man is a Saudi citizen. Look what you said on above. You are typical janjaweed.
09/01/09 @ 00:34
Comment from: addis zemen [Visitor]
Elcad (visitor)
Take it easy, you don't have to cry.he can do what ever he wants with his money.

09/01/09 @ 00:51
Comment from: AbaWereIllu [Visitor]
Rich people only think to get richer, forget helping others. His generosity is just an incentive decoy to get them more richer
09/01/09 @ 01:03
Comment from: Tazbkut [Visitor]
I APPRECIATE AL AMOUDI WHAT HE IS DOING IN OUR POOR COUNTRY.ON THE OTHER HUND I DO NOT KNOW WHY HE IS NOT INTERSTED TO INVEST IN AGRICULTURE SPECIALY IN THE NILE BASIN.MAY BE HE HAS AGREEMENT WITH OUR HISTORICAL ENEMIES(EGYPT)NOT TO INVEST IN THE NILE BASIN.IF HE IS A TRUE ETHIOPIAN AND WANT TO REMOVE THE BAD CAST(DRAUGHT,HUNGER AND ....)IN OUR COUNTRY.MR.AL AMOUDI BE COURAGEOUS AND IVEST YOUR MONEY IN AGRICULTURE(NOT ONLY IN AWASH).
09/01/09 @ 01:33
Comment from: Abel [Visitor]
when he become an orthodox christain, I hear from the nearest people of him. He will declaire his christanity in near future. for this I'm 100% sure, his heart still with us but he might scare of suadians.he practiceing christanity in nowadays specialy ours that's orthodox church.
09/01/09 @ 03:01
Comment from: Visitor from Addis [Visitor]
Well done Al Amoudi

He is one of the very few smartest men ever born from the Ethiopian Land. One should not be cleaver to understand this, how he can achieve this tremendous success with out being smart. Look at this; first, he outsmarted his fellow many Ethiopian born Arabs who fled to Saudi Arabia in early 1970, who could have been richer like him, had they been smart, After he established his connection in Saudi, he turned his face to Ethiopia, although he faced a problem at first, now Ethiopia is in his hands as he has a solid power to influence Ethiopian society, socially, economically and politically. Ethiopia is changed after his arrival.

Now, being the 2nd richest person in Saudi means that he will have the power to influence the Saudi’s Richest Royal family to make a difference in Ethiopia. Hence, we better take care of this man and allow him to change Ethiopia.

Cheers

09/01/09 @ 03:53
Comment from: Black Boy [Visitor]
WHO CARES ???????? THIS IS NOT NEWS!!!!!! How does that affect the millions of starving Ethiopians he loves so much????
HE IS A SAUDI = ARAB! using his mothers Ethiopian citizenship to suck all the wealth out of Ethiopia,and does not pay loans he takes from banks, this man does not even hold an Ethiopian passport!
Yemeni father + Ethiopian mother still makes him Yemeni!
If his Father was Eritrean nobody in Ethiopia would claim him as Ethiopian

NAZRET.COM this is not news!!!!! enough with useless propaganda
Tell us who are the top 20 richest people in Ethiopia?
09/01/09 @ 06:39
Comment from: Elias [Visitor]
Shaikh Moahmmaed Al Al Amudi
GOD Bless you, we are always praying for you,under you there are many Ethiopians are working,you are one of our Hero, please keep helping ethiopia & ethiopians

thank you
Elias Hailemariam

09/01/09 @ 06:54
Comment from: yo [Visitor]
congratulations and may god continue to bless him. He is good man and we need him in Ethiopia.
09/01/09 @ 07:42
Comment from: Yohanes [Visitor]
He is useless. Always drunk and surrounded by prostitutes. He could have done a lot.
09/01/09 @ 08:14
Comment from: Zeab [Visitor]
To be rich, powerful, wise and knowledgeable means to assume responsible for the welfare of others; if it is in a good way. I think Alamudi understands that he has taken responsibility to improve the life of others; that could be the reason why he is investing in every sector.
09/01/09 @ 08:54
Comment from: Fegou [Visitor]
The only reason that any Ethiopian should nort be proud of this guy is "Jealousy".
Get over your ingrained envy and admire this truly amazing guy who could do a lot of grat things to Emama Ethiopia than all the rest of us.
I salute you and Long life to you Mr. Sheikh Al Amoudi
09/01/09 @ 09:01
Comment from: kiki [Visitor]
Guys,
I see Meles behind Alamundi. Alamundi is a cover for the tplf thugs.
09/01/09 @ 09:11
Comment from: Mel [Visitor]
It is very sad to see my people always demeaning other people success. Al-Amoudi is a respected tycoon in the world and to see he is belittled by these ordinary people is saddening. You don't have any proof whatsoever for you story that he did something unethical. As a business tycoon it is normal to work with any government, not only ethhiopian government.Our identity seemed to undermine successful people just because we failed or can't be to the standard of the other sucessful persona. This is just euphemism.
09/01/09 @ 09:57
Comment from: Natural [Visitor]
Egizabiher ahunim chemiro chemamiro yibarkew!!!!! Melkam lib yalew sew sibarek endet yasdesital!!!! yagere sew silehone demo betam des yilegnal berta teberataa ... I wanna see you being the number 1 richest person in the world! Who knows ... Egizabiher min yisanewal!....His richness is a true blessing to us, Ethiopians ...He has been doing great in Ethiopia so far even when things are not economical, we all know that if it's not to help his brothers and sisters in Ethiopia he could have invested all the money he used in Ethiopia and be more profitable. But regardless of all these, he still kept investing and that is his greatness indeed!!!!

God Bless him again and again!!!!!!!
09/01/09 @ 10:13
Comment from: Dodo [Visitor]
We true Ethiopians believe in your hard work for your mother land. Please ignore all these rubbish comments! You de man Mr. Al Amoudi ƒºƒºƒºƒºƒº
09/01/09 @ 11:43
Comment from: Sami [Visitor]
Folks,

What the Sheik does with his money it is his business. I am happy for him his wealth is growing by day. He did lots of good for so many forgetten Ethiopian Heros not to mention supporting the soccer teams including the Ethiopian National Team. Why are we jelous? By investing wisely he keep buliding his business empire to the level where it is now. This particular news should make us Ethiopian happy. From some of the comments I read here in this forum some are really personalizing to the point of insulting. I told a very close friend of mine Obama is lucky for being from Kenya. If he was Ethiopian we would have seen negative campaign against him.

Jelousy is a type of disease that makes certain individuals comment the way they comment about Sheik Mohamed Hussain Al-amoudi
What is so wrong/bad about becoming #2 or 1?

Sami
09/01/09 @ 11:57
Comment from: Qorqoro [Visitor]
If Al-Amudi Christian Orhodox Neftegna will worship him 24h.

Shegaw - Yayew Hulu Yidenekal [Visitor]

qorqoro ass

09/01/09 @ 12:01
Comment from: ABDISSA [Visitor]
Black boy
Yemeni father + Ethiopian mother still makes him Yemeni!

Oh, what type of calculation is it?
I think you are living in a dark house with your black mind and name.
Sorry.
To me Alamudi= All the so called Ethiopian diaspora X 1,000,000-----
09/01/09 @ 12:01
Comment from: wadani [Visitor]
These money is the country's looted resources and wealth by woyane and its a stolen wealth of Ethiopia by this thugs rebels of TPLF. This man called Al-Arab Mohamoud is simply a manger of TPLF X-company.

Don't you guys understand these yet?
where he did he got it such a huge money unless its the looted money of Ethiopia.Give us a brake.
09/01/09 @ 13:00
Comment from: Nunu Assefa [Visitor]
Why does not this thug of thugs pay his debt he owes to ethiopian banks,
09/01/09 @ 13:00
Comment from: Fasil oakland [Visitor]
Amare

what you talking about? do you have evedense that he bend sisters in DC area or did you tried him to make money? don`t write vulgar.
are you a secssesful person? if so,when stupid people get secsses, they become more stupid instead of to respect what they get.

09/01/09 @ 13:42
Comment from: Gelmo Kurra [Visitor]
Maybe someody will write a book on AlAmouediand tell us where and when he got all this money. At leaast a few years back he was one of the richest people in the world since he started working in Ethiopia and it seems that his wealth has grown up so much that he is the second richest man in Saudi and the one of the richest in the world > I forgot exactly ay what stage he is. Please tell us how he becane so rich did he invent anything,did he inherit anything. On the social side how many wives does he have? How many children does he have? are hiswivesEthiopians ,Arabs Europeans where do they live. His three brothers who all come to Ethiopa and started businesses are they also form the same father and mother of Alamoudi? do they have children? how many wives do each have?are they also Ethipians Arabs Europeans?What business are they in?
09/01/09 @ 13:59
Comment from: Abel [Visitor]
We all know He doesn't really get that much of a profit with his Business as much he does from out side of Ethiopia. It is a pleasure having him in our country. He has provided and created hundreds of thousands of jobs. We all should be proud of him. Thanks
09/01/09 @ 15:54
Comment from: Yoni [Visitor]
Shegaw,Eclad,Observer,Black boy,Kiki and Nunu Assefa.

"It is one thing to keep quite and make people think you are stupid, it's quite another to open your mouth and prove it".

May God bless sheik Mohammad AlAmoudi and may he live a long life.
09/01/09 @ 15:55
Comment from: visitor [Visitor]
observer [Visitor]

I bet you and the rest of the rif rafs here hold one of the Western passports after so many years of Assylum in the west but still claim to be Ethiopian. Right?

So why not for Al Amoudi?
09/01/09 @ 16:08
Comment from: visitor [Visitor]
Th smart swedes honor him with
Royal Swedish Order of the North Star by King Carl XVI !!!

While Mekengna Habesha try to bring him down in any way they can!

Aye Senef Habesha Rasu Aysera, Sewen Ayasera!
09/01/09 @ 16:14
Comment from: G [Visitor]
If Al-Amoudi was Christian not only Orhodox Neftegna will worship him 24/7 but also build a statue at Meskel Square and bow and kiss the floor every time they pass through..
09/01/09 @ 16:20
Comment from: sayee derso [Visitor]
By the way, what is money with out love? this guy, true to his woyane back ground, has no slightest sympathy to the people of Ethiopia, by the virtue of being under the woyanes' brutal oppression who lead a miserable life. woyane as a club of the heartless, do not know affection, cooperation and sympathy. they do not know humility. they take themselves as smart by making people suffer for any simple greed. the guy we are told to succeed in business is a pig who does not feel what hunger feels like, not because he does not know it but because he is one of the monster woyanes. if it were not his woyane background it would not take him any time to realize that unearned money is no success. i recognize him as a world class looter who does not even pretend to be fair. see! he makes most of his fortunes from the whole of ethiopia with out a slightest trickling to the unfortune ethiopian people but to the land of woyanes. if there were any shred of humility in woyanes' camp, the guilt of looting hungry people would have killed them all.
09/01/09 @ 16:27
Comment from: Tzbt [Visitor]
Those of you who accuse this man of looting the country, please take a moment to think of how much you have sucked the tax money of the poor farmer and fled the country to wherever you are now, serving those who never want our growth. This man has done nothing wrong except extending his helping hand to so many who needed. With his companies he has done again nothing wrong except opening job opportunities and making a difference in the life of so many. I don't think you guys even help your poor parents leave alone help the country. Just live wherever you are munching your McDonald.
Mr. Shegaw Yayew hulu ....you are nothing but ye Shabia aleqlaqi neh.
09/01/09 @ 16:35
Comment from: addis zemen [Visitor]
Natural (visitor)

Thank you for your heart felt blessing you gave him.he deserves it.
This is a great success story which should be told again and again.Sheh Alamudin is one of the reason for all buisinesses in Ethiopia to exist these days. he came to Ethiopia at the right time when a new gov't took power and our country's feuture was very uncertain.but alhamudin didn't hisitate to invest his money,millions of dollars,by that atracting thousands of ethiopians from outside of the country to be confident enough to do buisiness back home.he built the biggest hotel in africa which is to his credit to keep OAU and other international ORG.to stay in the country.he helped thousands of indivduls ,he built hospitals,etc...his company's in Ethiopia are the biggest employers in the country,openning job opportunities for thousands of Ethiopians.
people who don't want to give him credit have their own agendas mostly politics.these are people who live in the west enjoing democracy,who want to deny him his democratic right when he chose the current gov't they cried foul and start treating him as an enemy.this is just blind hatred or ignorance.
Alhamudin you are always Ethiopia's son who came to the risk when we needed you.
THANK YOU AND GOD BLESS YOU !!!
09/01/09 @ 16:44
Comment from: ago [Visitor]
some shabia does like al amodi
09/01/09 @ 16:44
Comment from: yigermall [Visitor]

europeanochu zerun,haymanotun,zeginetun,sayayou,hagerachewun sitteqimmu.egnaa ginn hulgize beteqaraniww eyehedinn be dehhinet layyy eneraqeqallenn....ayy silittannee???????
09/01/09 @ 17:07
Comment from: Abraha Deboche [Visitor]
Has any one added Ethiopia and its seventy million people that are also a property of Al-Amoudin and EFFORT, Inc.

If you put that wealth he will be number one in Saudi Arabia.

He will not get any respect in Ethiopia for being an ally of TPLF both in business and politcs..

Can anyone tell me how much money this man gave for charity ? Do not include Tigray Development and that is not a charity it is a business empire the Sheik has a big share.

The millions of dollars he gave for Clinton foundation truly define this man, he is a TPLF cadre too.

09/01/09 @ 19:03
Comment from: Shegaw - Yayew Hulu Yidenekal [Visitor]
So this "shiritan yemeni" is richer than the king of Saudi Arabia? interesting
09/01/09 @ 20:21
Comment from: elcad [Visitor]
Yoni, Addis Zemen and other dump advocates of Alamoudi -

You guys need to get your head out of your ass. Alamoudi doesn't help anyone; he is there only for money just like every other corporation on planet earth. Nothing wrong with that, if we just say it as it appears and stop being disingenuous. Making money and becoming entrepreneur is the fundamental way of free market as long as we allow others to get their fair share. You think paying 3 cents to every 10 dollars he borrowed from Ethiopia is helping Ethiopians and that they should be grateful? If someone took your land, your capacity to compete in free market (as he monopolizes businesses from car rental to gold mining) dominating your religious beliefs and stow away the country’s rare natural resources using its corrupted leaders and then gave you an orange and an electric blanket (remember that you don't have electricity anymore and perhaps your fingers have been machete off) would you be thankful? Real help starts from building the countries infrastructures from education to agriculture, from launching the smallest clinic some where in the remote village or enabling kids go to school instead of herding goats. Helping a poor nation is not lavishing your latest bimbo with outdated Bimmer or opening Cake Bet or coffee shop for one of your akataris. All of you maggots crying here like a fuck*n baby are either one his beneficiaries or his direct sold out ass kissers who would do any thing as long as the money keep flows to your parsimonious self. Some of you are claiming jealousy is the driving force behind criticizing Mr. Alamodi. Well! I for sure am very comfortable with little I have and I sell my knowledge and skill to survive then to me it would be completely lousy and foolish to even think comparing my self with loaded billionaire and self made flamboyant who uses his fortune to undo others. My concern is only to my home land and its people. I don’t really give a damn care if you believe me or not but that is warranted and the fact.

09/01/09 @ 21:20
Comment from: Issac [Visitor]
Observer,

Why don’t you be a man and tell us what the real reason that you hate this generous man who has done so much for Ethiopia and Ethiopians. Isn’t it because of his faith?

09/01/09 @ 21:25
Comment from: balegoba [Visitor]
[I have never came across someone who has confirmed that this flamboyant Arab has done for him or her]... Shegaw yhy

Who helped the girl whose face damaged acid thrown in her face by a boy who could not stand rejection? was it not Alamoudi who paid for her medical treatment abroad? who paid for the late Tilahun Gesese medical treatment? who paid for Tilahon funeral expenses?? habesha know only waay-waay beating chest after someone died. who paid for the first heart surgery clinic in ethiopia? there is no shortage of people who give testimony of Almoudi kindness. I prefer Alamoudi than Tigaru/tchigaru weyane.
09/01/09 @ 22:03
Comment from: Shewa StaRR [Visitor]
Born in Ethiopia to a Yemeni father

.... and and and...Ethiopian mother?? where is the mother? where is she?

qiqiqiqi... Mr AlAmoudi must feel worthless in Arabia. The Arabs will hopefully learn a great lesson when their oil runs out.
09/01/09 @ 22:13
Comment from: Shewarega [Visitor]
I miss pre 2005 Al Amoudi. Beyet bayenew endaltebale. If he truly loved Ethiopia as he claims, he could have kept himslef out of politics, and used his influence to bring the regime and its enemies closer, remove the ethnic hatred and truly bring Ethiopians together. But of course, he went the wrong way, the rest is history.
09/01/09 @ 22:46
Comment from: Ethio Man [Visitor]
I love this man. Not only he help himself and his family, he is also asset to the world. We should be motivated by this man, rather than get jealous and try to tell him what to do with his many. It doesn't matter where he grew up. His mother land is still Ethiopia. Ethiopia always welcome him regardless of his success or religion since it's his berth place.

Instead of cursing successful people like this man, we should prey to God to give us the wisdom and the opportunity like him. If Ethiopia has 10 reach successful people like the Shake, I believe they can help our beloved poor people and take our country to civilization. Lets get motivated and be rich for the sake of our country! I wish this man all the best and more success. We love you. Ethiopia loves you too! God Bless
09/01/09 @ 23:10
Comment from: Getaw [Visitor]
I got no word to thank this guy I wish we have 3 or 4 like you we will be out of poverty Thank you shehu I pray long life for you every day. please don't follow some stupid comment and keep up your Good work for pure Nation Ethiopia.

God bless and wish you more
09/01/09 @ 23:12
Comment from: Ethio Man [Visitor]
I love this man. Not only he help himself and his family, he is also asset to the world. We should be motivated by this man, rather than get jealous and try to tell him what to do with his money. It doesn't matter where he grew up. His mother land is still Ethiopia. Ethiopia always welcome him regardless of his success or religion since it's his berth place.

Instead of cursing successful people like this man, we should prey to God to give us the wisdom and the opportunity like him. If Ethiopia has 10 reach successful people like the Shake, I believe they can help our beloved poor people and take our country to civilization. Lets get motivated and be rich for the sake of our country! I wish this man all the best and more success. We love you. Ethiopia loves you too! God Bless
09/01/09 @ 23:13
Comment from: sahra [Visitor]
Shaikh Alamudin he did good & bad thing to the country & the people. so what if he built roads & Sheraton hotel for his Arab cousins & invest a little bit here & there. In other hand he is looting the country's gold & marble single handily. he never pay tax he wiped out all the nations bank to build most of his facilities or companies more than other citizens who wants to do more in that country. most of all he expand prostitution he rapes every young girl he sees. i don't see him helping them instead to get good education. there are thousands & thousands street kids & orphans i don't see him giving any help for orphanage or open shelter & schools for those street kids he just watch all this things happening & do nothing, instead he goes from one Azmari house to another get drunk act like stupid. with his wealth he could have spent his money for a better cause. i don't really admire him. lets put it this way the only thing he stayed in that country only for his own benefit & greed. he is a sellout & nasty Muslim. PLEASE GOD BLESS OUR BELOVED COUNTRY ETHIOPIA & KEEP OUR COUNTRY SAFE FROM THE VOLTURES LIKE AL-AMUDIN!!! AMEN!!!!
09/02/09 @ 01:05
Comment from: fawad from jeddah [Visitor]
iam suprised by the comments u people are maing,if he is rich good for him,what is your problm?U SOME FCUKING BAGGERS,U BEGG FOR FEW SLICE OF BREADS IN STREETS AND DESRTS,EVERY ONE SEE U ON TV,NAKED AND BAAGING FOR FOOD AND U TALK AND BRAG LIKE U ARE SOME VERY RICH COUNTRY IN THE WOLRD,DONKEY,LOSERS AND ASS HOLES GO CHECK YOUR MOM AND SIS,GETING BANGED BY SOME UN SOILDER,WHO COME TO GIVE U FOOD,DONT BE jelious go work hard,
09/02/09 @ 02:45
Comment from: Abyot [Visitor]
Listen up Mikegna Abesha Hulu

I sometimes wonder why Ethiopia is such a backward country, and for anyone who needs a clue, just read some of the comments here.

The very simple fact that an Ethiopian is among the top 100 richest people on the face of the planet should give you pride, instead of ripping this man. And you hypocrites are here to deny him his Ethiopianess, because he holds a Saudi passport. Never mind he was born in Ethiopia, grew up in Ethiopia, went to school in Ethiopia, has Ethiopian mother. None of this matters to you. By your argument, all of you with foreign passports are not Ethiopians either then.

His investments in Ethiopia is a pocket change for him, this man is the single largest foreign investor in Sweden, and has been honored by the Swedish government.

Look, I wish he did not support the Woyanes, but that is his business. The man has done more to Ethiopia that all you combined moronos. You will never make in your entire sorry life what he makes in a day.

You are dispeakable bunches, all you do is run your mouth. Now you go back to your job, you have mortgage to take care of, while Al Amoudi is chil'n. Mikegna Hulu

Not even a Mega Million lottery will make you richer than Al Amoudi, err diben belu.

09/02/09 @ 03:42
Comment from: Mengistu [Visitor]
If we had a moderate nationalist government (Mengistu was too extrimist and conservative and zenawiw is too much of a slave) but some one who can attract rich enterpernuers, preferrably individuals with Ethiopian origin, prime example of whom is sheik Ali would have been our ideal invester in our country, especially in a mecahnized farming where the end products are sold to us local consumers right at home!!

But the monkies, seating in addis,mimmicing the white peoples' stature are preventing all the good things from happening to our courntry. Generlally, Sheik alamoudin seams to be a very personnable, easy going individual with our heritage. I love the gentle man as I would want to believe that there are great things he did for my country; for example, he helped Tilahun Gesesse through his latter times. In that respect I think we might find that he gave a little back to us, may be 0.00012% of what he made off of us! still better than nothing, I think.
09/02/09 @ 05:13
Comment from: tofik [Visitor]
mash allah, that is good to heard.

i would like to be rich like him and to do good and to help all my brothers and sisiters.
09/02/09 @ 06:19
Comment from: ramadaan [Visitor]
that is good to heard,
god bless u.
09/02/09 @ 06:20
Comment from: Shegaw - Yayew Hulu Yidenekal [Visitor]
balegoba [Visitor]

You are giving two isolated incidents where your al amoudi showed up to give a helping hands only because it was creating a big advertisement for him.
Between us Tilahun Gesese was not a poor man - his family did not need money for the funeral - But your flamboyant al amoudi showed up to advertise himself

Have you ever hear when al amoudi errected a building for orphanage or a school for those handicaped children ...? NEVER
but you will find him in the middle of any big event to promote himself

fawad from jeddah [Visitor]
go learn how to write in proper english before you vomit in an Ethiopian site- ignorant arab
09/02/09 @ 06:44
Comment from: Bogale [Visitor]
God Bless Al Amoudi!!!!!!
He is the right guy for Ethiopia.
09/02/09 @ 07:16
Comment from: addis zemen [Visitor]
Elcad (vitor)

You are a very angry man . I sense a lot of hostililty in all of your comments you give in this forum.every thing so negetive,you even contradict yourself.
Some times by the short fused temper you show I am forced to think you must be eritrean.are you? because most of the negative comments in this web site are coming from eritreans.they are so angry that he invested his money to build a lot of good things in Ethiopia. Their ferstration doesn't surprise me rather I anticpate it. But the other so called Ethiopians who said they believe in democracy,and are fighting for democracy, tried to take alamoudin's democratic right when he voted and supported the current gov't.
This is just a pure hypocracy and arrogance.

Elcad all you need is try to make peace with your self. When you finish fighting the demon with in you,every thing will be crystal clear,and you will start seeing things in a normal way. Peace!

09/02/09 @ 08:39
Comment from: balegoba [Visitor]
"So this "shiritan yemeni" is richer than the king of Saudi Arabia? interesting" Shegaw YHY

Alamoudi has became richer because he diversified his business from US to europe, from middle east to africa, his business in ethiopia is peanut, habesha komata beggars!
09/02/09 @ 08:45
Comment from: The-mike [Visitor]
እርር፡ በል፡ አበሻ፡ በቅናት፡ተቃጠል።

09/02/09 @ 09:11
Comment from: G [Visitor]
Shegaw - Yayew Hulu Yidenekal [Visitor]
So this "shiritan yemeni" is richer than the king of Saudi Arabia?

Yes! and he can hire 1,000,000 Debelo qoda Lebash like you as a servant!

09/02/09 @ 10:06
Comment from: addis zemen [Visitor]
Shegaw segeraw, yayew hulu yarabetal (visitor )

From the name you are using one can tell you are strrugling with inferiorty problem. You keep insulting people in uncntrolable manner untill you run out of words .may be that is the only way to cheer yourself up.I have read your degrading comment you gave to the great champion maryam j. What could be your problem? Are you a mentaly disabled guy who couldn't identify right or wrong.or some fanatic who hates the whole world and thinks the world ows him some thing.
If you can not stand it when you see successfull people,just stop following up news. That is doing yourself a fever.don't fight it.
09/02/09 @ 10:51
Comment from: Tefera [Visitor]
alamoudi has done a lot for ethiopia from his multi million dollar investment which created jobs for tens of thousands ethiopians to a nursing and other schools as well as money he has donated to various entities. but unfortounately he did nothing to help kinijit. that is why few people here at nazreth are attacking him. i am pretty sure people like elcad wouldnt trash alamoudi contribution prior to 2005 the way they do here.
...
its because of alamoudi that we see all these ethiopians venturing to ethiopia. in other word he opened the door and made us all to be optimistic about our country future which most of you may not be happy about.
as we speak the man is building cement factory that will help ethiopia and of course himself too (hopefully).
.
my advice to my fellow "ene kemotku serdo aybqel" people is to learn 'how to cut your loss and move on'.
Ethiopia is much important than kinijit. let bygones be bygones.
09/02/09 @ 10:56
Comment from: Shegaw - Yayew Hulu Yidenekal [Visitor]
balegoba [Visitor]

your Alamoudi did not augment the size of his wealth only because he diversified as you claim it.

According to Wiki his portfolios include beside oil refinery in Sweden mining, agriculture, hotels, hospitals, finance, operations and maintenance -

Mr. Moron, hotel businesses are down with this economy; in Saudi Arabia I believe he has a soft drink business - this business does not make you billionaire. His major construction company is in Ethiopia where he has monopolized the construction of the infrastructure - why not as long as he put a hefty commission in the bank of our highness First Lady - and mining as far as I know it is only in Ethiopia again as long as he gives a good commission to the people at the helms of the country he can loot as much as he can

Again according to Wiki - it says that the flamboyant alamoudi has an Honorary Doctorate in Philosophy from the Addis Ababa University - Really ??? So this shiritan can hold a debate on Descartes or any other social philosophers? I wonder why the Addis University did not bestow on him Doctorate of "sucking the wealth of a country"??? don't they have this major in their school yet???

09/02/09 @ 12:21
Comment from: amare [Visitor]
jealousy!! all this mean spirited comments are from desperate diaspora. The man is successful billionier before he invested a penny in your dirt poor country. Many of you, who insult him used to worship him when he used to come to 'puck' your sisters in DC and LA. Fasil used to drive his sister from Okland to LA when the sheik comes to town. Now he is tired of pucking them and giving money. He is an enemy. May Allah bless the sheik. you may live 150 years pucking all the young chicks. you can afford it and it's too cheap for you to have them all.
09/02/09 @ 12:36
Comment from: Jegna [Visitor]
fawad from jeddah [Visitor]

You live a drives away from Mecca and this the filth you say during Ramadan. You are a disgrace to Islam.

09/02/09 @ 12:41
Comment from: amare [Visitor]
Shegaw - Yayew Hulu Yarabetal
Yes, Ato Tilahun Gessess was poor, alcholic and terminally ill. Alamoudi saved his ass and gave him a lot of money. what do you know? Nothing. He helped so many people all over the country from children (orphans) to hospitals. You are just an empty and angry nobody. The Sheik created more jobs and wealth than anybody. Stop bullshiting.
09/02/09 @ 13:24
Comment from: Shegaw - Yayew Hulu Yidenekal [Visitor]
Tefera [Visitor]
You wrote:"alamoudi has done a lot for ethiopia from his multi million dollar investment .."

What the fuck are you talking the man came without a capital in ethiopia and he learn how to borrow money from ethiopian Banks & he monopolized the construction of the major infrastructure and from there it is history.

Ethiopia gave him the chance to be wealthy - no other industrial countries or arab countries will give him the privilege that Ethiopia gave him.
09/02/09 @ 13:45
Comment from: elcad [Visitor]
Addis Zemen -

Thanks for your Psychological tip & experiment but please don't quit your day job(if you have one). For your info. I do not have temper nor has lack of peace in my conscious. I do however possess deep passion when it comes to my home land and the orchestrated effort by the current rulers to systematically dismantle my country. Your master Mr. Ala Moudi is the accomplice and one of the bankrollers to fund this evil endeavor just to add more profit on his already loaded financial empire. Although you are so unsuccessful and incapable of linking my patriotic feeling as personal problem, I advise you get your facts together and analyze one’s purpose before moving your tail and jumping yourself in to quick and wrong conclusion. Dissent is not craziness but ownership of self principle. I hope you gain more wisdom & articulate further substances in your next attempt. So long!! By the way You think I am Eritrean? What a Physcic!

09/02/09 @ 13:53
Comment from: nebster [Visitor]
congra for being the richest black man!!!
09/02/09 @ 14:04
Comment from: ShambelTefera [Visitor]
I proud my self b/c that is a good to heared.
Shiek Mohammed Al moudi has done alot for Ethiopian his investement and creat of a job for thousend of pepoles. he is from Ethiopia he love his mother country thats why he did his best. keep it up

God Bless you
Shambel
09/02/09 @ 15:18
Comment from: tilahum [Visitor]
Shegaw,Eclad,Observer,Black boy,Kiki and Nunu Assefa
I believe all of you are parking lot attendents and u cannot even feed yourselves. Our beloved country does not need beggers. Anyway just keep barking and crying because u guys cannot successed nothing in fact, you all will burn ur hearts 24 hr with jealousy. I know jealousy can't be cured. However,u all should stop reading this kind of articles that way u guys can live peacfully with ur poor life. get life morans!
09/02/09 @ 15:34
Comment from: ShambelTefera [Visitor]
I proud my self b/c that is a good to heared.
Shiek Mohammed Al moudi has done alot for Ethiopian his investement and creat of a job for thousend of pepoles. he is from Ethiopia he love his mother country thats why he did his best. keep it up

God Bless you
Shambel
09/02/09 @ 15:34
Comment from: Fasil oakland [Visitor]
Amare

It looks like you working as a
-pimp-, the way how you trying to explain about Sheki, coz you diden`t even know me to start talking about my sisters..... I think you better stop to be ob'du-rate.
Try to show us an innocent comments.
09/02/09 @ 16:18
Comment from: meskerem bekele [Visitor]
sir sheke al-----modin i appraciate wat u doin and good fam u r good person who employess 40,000 people in medrok ethiopia. well i think you got the energy of making our beautiful country better with all ur ppl...
good luck gashe sheke Mohammad Al Amoudi. keep it up:

09/02/09 @ 16:37
Comment from: Tefera [Visitor]
shegaw i dont know the details as to how much loan he took from ethiopias bank for his investments and i doubt you know either. no one even knows whether he is earning income, which he is supposedt to, and how much from all his investments in ethiopia. but i doubt he does and the man say he doesnt and for now that sounds believable. even the gold income will not bring his wealth to the fraction he has.
....
by the way ethiopias icon tilahun gesese was poor and helpless up until alamudi start to take care of him so much so that he cries every time he hears the name alamoudi.
09/02/09 @ 16:49
Comment from: Frehiwot Asfaw [Visitor]
I am one of the person who respect and apreciate Sheik Mohamed Al Amuodi b/c you are one in a milions. you are a hero i wish all the best and more sucess, God bless you.

Fere
09/02/09 @ 19:10
Comment from: challenger [Visitor]
The only issue I have with Al Amoudi is the fact that he is a stinking Arab and by extension a Sodomite. Hey the cross-dressing fag, fawad from jeddah, let me rub it to your face, you piece of dung, one day the whole world will bow down to Ethiopians, as the Egyptian did to Joseph, the son of Jacob/Israel who also happen to be a refugee or slave. The fact that Al Amoudi has Ethiopian blood should be a harbinger to you savage Arabs. Do you think the Israelis are powerful? Wait until you see the Ethiopians (the bread begging Ethiopians,) who used to be your master a while back, bounce back to their lost glory one more time. There is a reason why they are migrating on all directions. They will soon captivate and enslave the entire world with their uniqueness, unlike you animals who have to blow up anything civilization. Consider yourself warned.
09/02/09 @ 20:02
Comment from: Issac [Visitor]
Shegaw,Eclad,Observer,Black boy,Kiki and Nunu Assefa

Why don’t you religious bigots come out of your closets and tell us what your real reason is for hating this man who has done so much for Ethiopia and Ethiopians? If his name wasn’t Mohammad Al Amoudi, I am sure we would not have this discussion. Actually you would have petitioned the government to declare a holiday in his name. It is a pity that people like you do exist in this day and age

09/02/09 @ 20:29
Comment from: challenger [Member]
Issac,

You are damn right, Ethiopia is a Christian country. But still lets its people worship whatever their hearts so desire, including a violent cult of a personality that passes for a religion. I'm proud to be Ethiopian, and I don't know why anyone wants to be part of the lowest form of civilization in the world -- the Isalamo-fascists of the Middle East. My guess is if the oil-wells of Arabia go dry, most of the Ethiopian Muslims would find their common sense or wake up from their dreams of 72 virgins awaiting them in jenet.
09/02/09 @ 20:46
Comment from: Shegaw - Yayew Hulu Yidenekal [Visitor]
Frehiwot Asfaw [Visitor]

how much is your compensation to promulgate your stupidity or are you one of his current sex toy? Girl, enjoy it while you are the flavor of the week because the rumor is that the shiritan gets bored after a week and he looks for another to replace you
09/02/09 @ 21:09
Comment from: zuzu [Visitor]
That's why u are called appropriately YE-KURT KEN LIJ.Sir,regardless of the few who spit on this board Ethiopia will always remember you as her golden son.
09/02/09 @ 21:32
Comment from: Halafi Mengedi [Visitor]
Al Amoudi is the dean of corruption in Ethiopia. Unless he bribes in every level of the Government bureaucracy, he will not get any license to do business in Ethiopia as he wishes.

Do you guy think Meles will allow him to suck Ethiopia Gold unless Al Amoudi give certain percentages to Meles?

If Ethiopians want to recover all the looted money from Meles, responsible Ethiopians should catch Al Amoudi and Berhane Gebre Kirstos who is stationed in Belgium, Europe. Both of them have the complete Bank accounts and related documents.

09/02/09 @ 23:27
Comment from: I hear you all [Visitor]
I am not sure where to start.
All opinions/comments/suggestions/recomedations/directions/insults/respects lead to nothing but disgrace to all people of this great nation we all admire and fight for. This person whether he is from this or that nation could invest his money where he pleases despite where he gets it from. For this reason, it is better to acknowledge the fact that he is, one-way or the other, investing the portion of his wealth in this nation we all agree to love dawn to earth. It is better to be on the right side of good policies than stupid politics!

09/03/09 @ 01:15
Comment from: Observer [Visitor]
I am re posting my original comments because many janjaweeds have said so much about my comment which has nothing to do with jealousy, faith, hate of the businessman etc etc.

According to my posting which follows here I simply clarified to folks who keep saying Ethiopian businessman in which the man is legally a Saudi citizen. Second I only ask how he do business in Ethiopia which is transparency that is prerequisite in clean business dealings and democracy.

Our janjaweeds keep asking my citizenship, my faith, and talk about nothing relevant to my comments. Some pray for this rich guy to have more money. If I pray I pray for millions who are facing famine. Reread my original comments as follows.

"Gondar:
What language do you understand better? The English language clearly stated that this man is not Ethiopian. He is a Saudi citizen.

I still don't understand what kind of business this foreigner do in Ethiopia and how much Ethiopia benefited from his business. No transparency no one knows except the woyanes who take his money.
I heard that he controls all the gold of Ethiopia and yet what is Ethiopia's share no body knows except Meles and his wife.
In such corrupt business deal every citizen have the right to ask what this guy is up to. Make it official then we will see whether he is bleeding our country or helping.

Amare: Define Ethiopian. This man is a Saudi citizen. Look what you said on above. You are typical janjaweed.
09/03/09 @ 01:33
Comment from: straight shooter [Visitor]
ኢትዮጵያ ሆይ ተነሽ ክብርንም ልበሺ:
በአዲስ ምስጋና ይሞላ ልብሽ:
የተወደደ ነው በእግዚሃብኤር ህዝብሽ::

ንብረቱ ጠፊ ነው ከንቱ የማይረባ::
በግፍና ቅምያ በአመፅ የገነባ::
ሲሳይሽ ብዙ ነው ከአምላክ የተሰጠሽ:
በረከት ለማግኘት መስራት ነው ጠንክረሽ::
የአአዛብ ብልፅግና አያስቀናሽ ፍፁም:
ኃላፊ ጠፊ ነው ምኞቱም አለሙም ::
ደመና ነውና ይበናል በቅስፈት:
በግፍ የተገኘ የተከማቸ ሀብት::
ይልቅ በቅንነት በሰላም ለሰራ:
ሲሳዩ ብዙ ነው ክብሩም አያባራ::
ጉቦና ፍትህ ህግ ማጣመም እንዳለ:
ከወንጌሉ ጋራ አለብን መዛመድ::
እግዚአብሄር ያለው ሰው ለሱ የታመነ:
ከግፍ ስራ እመም አካላቱ ዳነ::
ክርስትያን ነኘ ብሎ ጉቦ የሚበላ:
የሚያቃጥል እሳት ያገኘዋል ኋላ ::
በመታመን ፀጋ ይጠራ ስማችን:
እውነተኛ እንሁን ለውድ ሀገራችን::
የራሱን ሳይሻ ላገር የሚያስብ ሰው:
በአግዚአብሄር ዘንድም የተወደደ ነው::

ኢትዮጵያ ሆይ ተነሽ ክብርንም ልበሺ:
በአዲስ ምስጋና ይሞላ ልብሽ:
የተወደደ ነው በእግዚሃብኤር ህዝብሽ::አ

- ይልማ ኃይሉ::
09/03/09 @ 04:21
Comment from: yekuarawjegena [Visitor]
Thanks nazret we heard good news . by the way meneyewtewal repoter gazeta . repoter go to hell!!!
09/03/09 @ 05:51
Comment from: G [Visitor]
Challenger,
Yes you been wishing for that oil to dry for how long now? For Al Amoudi to turn poor? Huh... Guess what? That ain't happening! Almoudi and the rest of the folks you wish to disappear are getting richer and stronger while you Suedo Christians of the cave age with inferiority complex are getting poorer by the day! I can see your ugly face turning green with envy…lol.. with full of envious people like you no wonder that poor country can't go up any further.Sad!

09/03/09 @ 06:13
Comment from: Black Boy [Visitor]

WHAT EVER some of you Guys worship him like he is a GOD because of his $$$$$$! "Oh God bless you Alamoudi" it is Ethiopian new year soon, so let's celebrate and worship Alamoudi, you people do it every year! I am surprised he has not said Ethiopian new years day is his birthday or many of you will rush out to buy cards for him
I hear he is planning a Jackson 5 concert in Addis, tickets are 3000 birr + all you can drink St George and all you can eat Tibbs LOL
09/03/09 @ 06:56
Comment from: Mel [Visitor]
Look guys!you are dumb. How you comment Al Amoudi looted EThiopia. It is absurd. He came to Ethiopis with his fortune. For that matter when he came to Ethiopia, Ethiopia didn't have that much wealth. He contributed to transform that poor country. He invested his fortune in a place no other billionaire or developed country would otherwise. He spend his fortune to help many unfortunate people, including Artist Tilahun Gessesse. You guys are desperate and get joy by demeaning other successful people. Where is common sense. You look like talking politics. He is not a politician. He is not even Ethiopian (technically). Why not you guys comment on other foreign investors or countries investing in Ethiopia. It is a paradox that Ethiopians in all class of economy are jeleaous on their own citizens. It is a curse! Just because Al Amoudi is half Ethiopian and he loves Ethiopia (his country of birth)you guys have a lot hate and jelousy. So embarassing. You will not change the Sheik's life or his fortune.If you have issues talk to your government, not demean people who makes a difference to the millions like Al Amoudi.

Grow up people. Get Educated.
09/03/09 @ 09:26
Comment from: dereje [Visitor]
observer what about dr.brhanu who is not ethiopian citizen. in fact arent many diaspora ethiopians who live in the state American citizens. does that mean they are not ethiopian, according to you.
please move on and try to work hard to become like this man. as we speak he is making millions$.
09/03/09 @ 18:27
Comment from: Hilawi [Visitor]
Good for him. It is nice to accumulate fortune and it is good he invested in his country, Ethiopia. Sorry to say, I have no respect for this guy. In my eyes, he has no value, and money doesn't buy that. He is not a good example for upcoming riches in our country. It is disgusting to hear a guy as old as he is, dating(use and throw) young girls. In the passage of time, such dirty acts may be considered as part of the culture. Sorry to say, again I am telling you I have no respect for this guy. Money doesn't buy decency, but moral value is.
09/03/09 @ 20:05
Comment from: Issac [Visitor]
I am reposting my original comments so that decent Ethiopians can see thru charlatans like: Shegaw,Eclad,Observer,Black boy,Kiki , Nunu Assefa and their likes for what they are,

Why don’t you religious bigots come out of your closets and tell us what your real reason is for hating this man who has done so much for Ethiopia and Ethiopians? If his name wasn’t Mohammad Al Amoudi, I am sure we would not have this discussion. Actually you would have petitioned the government to declare a holiday in his name. It is a pity that people like you do exist in this day and age

09/03/09 @ 20:52
Comment from: kitfo [Visitor]
American companies love the cheap labor of China so almost all of them left behind thier country where labor is really expensive. In addition these companies get cheap skilled labor there and paticularly the political situation of the country is stable too.

Having investors was not a new thing to Ethiopia until all of them were kicked out because of Socialism. Only the one with the bidder was given a chance of making a contract, but now with out any bidding every thing is offered to one investor using the time as a pay back time for what Al amoudi did for Woyane when they where in the jungle. How come Al amoudi doesn't love making business when he gets everything really cheap starting from labor.

By the way long time ago I watched an interview with our Foreign Minister Mr. Seyom that made me shocked when he answer about the opportunity of making investments in Ethiopia. He said " One of the good thing to invest in Ethiopia is the cheap labor we have." As a leader he put us all down. At least explaining the availablity of human forces was a samrt way to go.

09/03/09 @ 23:22
Comment from: Issac [Visitor]
Before Mohammad Al Amoudi risked his hard earned money to invest in Ethiopia knowing full well:

- How unstable the regime was
- Ignoring the international business community’s warning about investing in Ethiopia, a country at the time seen as unstable and a failed state (some may think it is the case today; a discussion for another day)

Can anyone of you who are attacking this man, name a single international investor who risked his hard earned money and invested in Ethiopia before Mohammad Al Amoudi did? I know the answer is NONE, NADA.

By the way are you aware that the hundreds if not thousands of investors who followed Mohammad Al Amoudi footstep and started investing in Ethiopia? He basically opened Ethiopia’s door to other investors. Just a little education to those hate mongers

09/04/09 @ 16:01
Comment from: ታሪኩ አበበ [Visitor]
በጣም ጥሩ ላንድ አካባቢ እድገት። ግን ብዙ መጥፎ ነገሮችም አሉ ወጣቱ በጣም በገንዘብ ተታሎ ሃይማኖቱን መለወጥ ሊኖርበት አይገባውም። ብዙ ጊዜ ጠላት በደካማ ጎን እነደሚገባ ምገንዘብ ጠቃሚ ነው። እኔ በምችለው እያንዳነዱ ሃይመኖት ማክበር ግዴታዬ ነው። ይህ ያለም ሀብታም ነኝ የሚል ሰው ከርሱ ልቦና በንግር ለካባቢው ህዝብ በግለጽ መቻል አለበት። ጋዜጠኞች ይህን ሳታቑ አትቀሩም ግን ነገሮቹ በዳፈነው መቅረት የለባቸውም። ሁሉም ሰው አገሩ ነው ግን መከባበር በትልቁ ትልቅ ችሎታ ነው። እንከበር አንታለል!!! ስቶቻችን የማንም መጫወቻ እንዳይሆኑ በጥብቅ ትምህርት ይሰጣቸው። የሰው ልጂ የማንም አለኝ ባይ አሻንጉሊት አደለምና በጥበቅ መታሰብ አለበት።
09/04/09 @ 18:34
Comment from: kind [Visitor]
i know nazrets post the comments that fit them. most time the true and geniune idea doestn't fit them.
any how,coming to my point , it good for Al mudin to be rich,but why some of Ethipians worhip him like their god. May be he only invest one percent of his capital in ethipia. and suckig money from there. he is not investing back to that community. so people who appriciate him should know that how much benifit our community is getting from him?????????????????????
09/05/09 @ 12:27
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Al-Amoudi to set up first tire factory in Kingdom

2012-05-13T00:25:00.000-07:00

Abdullah Al-Amoudi, Nasser Bin Jarallah and Yan Kai, GM, CAMCE-SINOMACH during the contract signing ceremony.

By ARAB NEWS

Published: May 2, 2012 00:43 Updated: May 3, 2012 15:29

YANBU: Al-Muwakaba for Industrial Development & Oversees Commerce (Holding), a member of Al-Amoudi Group of Companies, has signed an agreement to establish the Advanced Tire Factory. The factory will be set up on a 194,000 square meter area in Yanbu Industrial City and considered to be the first plant of its kind in the Kingdom.

Mohammed Hussein Al-Amoudi, chairman of the board and the main partner for both Al-Muwakaba and Advanced Tire Factory, said he was proud of this great project. The new project is in line with the guidance of the government of Custodian of the Two Holy Mosques King Abdullah in ensuring the diversity of industries in Saudi Arabia and the interest in supporting the national economy.

"We also extend our sincere thanks and gratitude to the Royal Commission of Jubail & Yanbu and the Saudi Industrial Development Fund as well as industrial Clusters' Program for their support for overcoming the obstacles to access to this vital project. Al-Amoudi also stated that the total cost of this promising project was estimated to be SR900 million. The project provides 600 employment opportunities. Based on the approach taken by the company in all of its projects, Al-Amoudi assured that the preference and priority in career opportunities would be given to young and qualified Saudis, especially from the scholarship program of the king, in addition to training and development programs provided by the company to train technicians to work in the high-tech factory.

The plant will manufacture tubeless pneumatic tires for passenger cars and commercial vehicles. Mohammed Abdullah Baraqabah Al-Amoudi, Al-Muwakaba director general and board vice chairman, said the plant was expected to produce 1,800,000 of world-class tires. He added that the manufacturing will be according to the latest world-class technologies applied in tire manufacturing - well-known BCT technology - used in the international standards tire manufacturing. He stressed that the tires would be manufactured as per the European ECE standards and American DOT standards as well as comply with the codes and standards specified by Saudi Arabian Standards Organization (SASO). Abdullah Al-Amoudi added that the project primarily aimed at meeting the needs of the Saudi market and then the rest of the GCC markets and North Africa. According to Abdullah Al-Amoudi, the project has a 34-month completion schedule with commercial production expected to commence by 2015.

The partners recently completed all the statutory procedures for the project. Nasser Bin Mohammed Bin Jarallah, Panorama Group vice president, partner and member of the board of directors of the Advanced Tire Factory, expressed his satisfaction on the efforts made to translate his dream project into reality and implementation. He also explained that Al-Muwakaba owns 65 percent of the total project while Bin Jarallah Group owns the remaining 35 percent in the first phase of the project, and it is expected to enter other international partners in the later stages of the project. He added that the project is funded partially by the Saudi Industrial Investment Fund and a number of Saudi local banks in their efforts to support the project.

According to Waddah Al-Kayyali Alem, deputy director general of the EPC, the contract to design, engineer, supply and plan the building has been awarded to one of the major international companies specialized in the manufacture of tires CAMCE-SINOMACH. The technology for the plant will be provided by BCT that will be supervised by a specialized German consulting firm, Technical Tire Consulting Gmbh (TTC) to ensure the highest quality standards. Waddah also said that Saudi Swedish company MEDROC would undertake all project management processes for Project Management Ltd.

Saudi Arabia keen on African farm investments

2012-05-13T00:21:00.000-07:00

Saudi billionaire Mohammad Al Amoudi last year announced plans to invest $2.5bn by 2020 developing a rice-farming project.

Saudi Arabia is encouraging companies to invest in farms in Africa as the kingdom seeks to secure supplies of food imports to replace local production, said Agriculture Minister Fahd Balghunaim.

The government decided in 2008 to gradually phase out all water-intensive crops including grains by 2016 amid commodity price spikes, Balghunaim said at a World Economic Forum meeting in Addis Ababa, Ethiopia’s capital.

Saudi Arabia plans to increase imports of food, including the 3 million metric tonnes of wheat consumed annually, he said.

“Africa is the region that represents the biggest opportunity to increase food production with vast tracts of land and a big difference between existing potential and current productivity,” he said.

“Saudi companies are bringing the technology and equipment to help increase production.”

In Ethiopia, Saudi Star Agricultural Development, a food company owned by billionaire Mohammed al-Amoudi, announced last year it plans to invest $2.5bn by 2020 developing a rice-farming project on 10,000 hectares of land on lease for 60 years.

It also has plans to rent an additional 290,000 hectares from the government.

Critics of the project including GRAIN, the Barcelona-based advocacy group, argue that domestic farmers are being dispossessed and the country shouldn’t rent land cheaply to foreign investors to grow crops when about 13 percent of its approximately 80 million people still rely on food aid.

“We want to be an assisting player in the African agriculture revolution,” said Balghunaim. “Our ethics don’t allow us to take food from the mouths of people who need it.”

African nations should be able to end their dependency on food imports, become net crop exporters and cut trade deficits by adopting modern farm methods, Balghunaim said.

Africa's Biggest Winners in 2011: Lamido Sanusi, Aliko Dangote, Fatimata Bazeye

2011-12-17T10:01:00.001-08:00

With the year coming to a close, it is custom for international news sites to review the past year in Africa. Sadly, many of these reviews will be rather gloomy and arguably with good reason; the continent faced a lot of challenges in the past year.

The names that made headlines this year were the likes of Gbagbo, Gaddafi, and Kabila. However, 2011 wasn’t all bad on the continent. In what I hope will be a different kind of review, below is a list (in no particular order) of five of the biggest winners in Africa in 2011. These are names that may not have made headlines and thus may not be easily recognizable. I would argue however, that they had as much of an impact on shaping the year in Africa and are as much an indication of the year to come as the newsmakers.

Lamido Sanusi

The Governor of Nigeria’s Central Bank was Forbes' Africa Person of the Year for 2011. He is credited with spearheading extensive reforms within Nigeria’s troubled banking sector. Despite receiving death threats which have forced him to employ armed guards, he forged ahead with a campaign that included taking over nine banks and firing their executives, many of whom are now on trial for corrupt practices. If Africa is ever to meet its full potential, it is going to have to tackle the endemic corruption that plagues the continent. In 2011, Sanusi boldly took on this challenge, serving as an example to many across Africa.

Aliko Dangote

The second Nigerian to make this list, Aliko Dangota had a great year in 2011, which saw his fortune soar by a whopping 557% and saw him overtake Mohammed Al Amoudi and Oprah Winfrey as the richest person in the world of African descent. Dangote makes this list because in many ways he represents the economic resurgence currently occurring in Africa, which has been captured in a series of recent Economist article. His Dangote group, which has subsidiaries in six African countries, focuses on the provision of local value added products and services to meet the needs of a growing African population. The group employs over 11,000 people and represents about 25% of the capitalization of the Nigerian stock exchange.

Fatouh Bensouda

The Gambian lawyer was recently selected as the next Chief Prosecutor of the International Criminal Court and will take over from current Chief Prosecutor Luis Moreno-Ocampo in the New Year. Many observers, myself included, hope that this will mark a new era in the life of the ICC, which in recent years has been heavily criticized by the African Union for exclusively pursuing cases in Africa and overlooking similar or worse atrocities occurring elsewhere. It is hoped that Fatouh Bensouda will help restore parity in the ICC’s case log and its quickly fading credibility.

Anas Aremeyaw Anas

This Ghanaian investigative journalist had a very busy year. His special interest pieces exposed corrupt practices occurring at different levels of Ghanaian society, including at the country’s orphanages and within the Ghana Revenue Authority. This year, with support from Al-Jazeera’s Africa Investigates initiative, he has put life and limb on the line to expose illegal mining activities in Ghana and the persecution of the albino population in Tanzania.

African Women

I am cheating a little here but I am thinking specifically of three outstanding individuals. The Nobel Peace Prize being awarded to Ellen Johnson-Sirleaf and Leymah Gbowee was recognition of the extensive role women have played in advancing peace, security, and development everywhere on the continent. I am thinking also of Fatimata Bazeye, who played a key role in steering Niger to a successful election and democratic transition and was named Media Trusts Limited’s 2011 African of the Year.

This list, which is by no means conclusive, is a reminder that for all the challenges Africans faced in 2011, there were numerous bright spots. The year experienced by the individuals above also gives reason to be hopeful about the prospects for Africa in 2012. Lamido Sanusi and Aliko Dangote give me hope that the fight against corruption will gain momentum in 2012 and that Africa’s economic resurgence will continue in 2012.

Fatouh Bensouda gives me hope that 2012 will bring a little more parity in the international system. Arnas Aremeyaw Arnas point to the rise of responsible journalism. Finally, women like Johnson-Sirleaf, Leymah Gbowee, and Fatimata Bazeye give me hope that in 2012, peace, security, democracy, and respect for human rights will find true expression in Africa.

Photo Credit: World Economic Forum

Xenella Holding AB publishes offer document regarding the cash offer to shareholders of Allenex AB (publ) in accordance with the rules on mandatory bi

2011-12-15T00:50:00.000-08:00

Xenella Holding AB's offer document regarding the cash offer to shareholders of Allenex AB (publ) in accordance with the rules on mandatory bids have now been approved by the FSA.

The offer document with the application form from that of Mohammed Al Amoudi and solid partner AB (publ) is jointly owned budgivarbolaget Xenella Holding AB to the shareholders of Allenex AB to tender their shares in Allenex to Xenella, is available in digital form via www.allenex.se, www.xenella . see and www.aktieinvest.se.

+46 8 506 517 95

The acceptance period for the cash offer under the rules on mandatory bids runs from December 14, 2011-11 January 2012.

Allenex board comes two weeks before the acceptance period publish its opinion on the bid and the reasons for this view. At the same time, the fairness opinion prepared by KPMG to be published.

Allenex AB (publ) discloses this information pursuant to the Securities Markets Act and / or laws governing trading in financial instruments. Submitted for publication December 13, 2011, 12 am: 30.

070-91 800 10
070-600 5364

For more information on Allenex visit www.allenex.se

Allenex is a life science company that develops, manufactures, markets and sells high quality products and services that enable safer transplants with better results. Allenex also has a portfolio of associated companies in life science. Allenex is listed on NASDAQ OMX Stockholm Small Cap (ticker: ALNX).

La finance islamique, une éthique valorisée par la Sorbonne

2011-12-15T00:47:00.000-08:00

Rédigé par Hanan Ben Rhouma | Mardi 6 Décembre 2011

En pleine crise de la dette en Europe, une nouvelle pierre à l’édifice de la réflexion sur l’apport de la finance islamique dans les sociétés non musulmanes s’est ajoutée avec le lancement officiel, mercredi 30 novembre, de la chaire « Ethique et normes de la finance », qui scelle le partenariat entre l’université Paris-1 Panthéon-Sorbonne et celle du roi Abdulaziz, à Djeddah. La chaire est entièrement tournée vers la recherche, mais l’apparition d’une formation de finance islamique à la Sorbonne n’est pas exclue pour les prochaines années.

inShare
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La Chaire « Ethique et normes de la finance », lancée officiellement le 30 novembre, scelle le partenariat entre l’université de Paris-1 Panthéon-Sorbonne et celle du roi Abdulaziz, à Djeddah.

Un temps épargnées par les conséquences de la crise financière qui a gravement frappé les Etats-Unis en 2008, la France et l’Europe sont depuis plusieurs mois en plein marasme économique. Mise en accusation, la finance conventionnelle ne cesse de voir son image se dégrader. Dans ce contexte, le développement de normes éthiques dans la finance est devenu nécessaire pour redresser la barre.

Dans ce sens, la chaire « Ethique et normes de la finance », née d’un accord-cadre de coopération signé en janvier dernier entre l'université Paris 1-Sorbonne et l’université du roi Abdulaziz à Djeddah, a été inaugurée mercredi 30 novembre en présence de Jean-Claude Colliard, président de La Sorbonne, d’Osama S. Tayeb, président de la faculté saoudienne, de Pierre-Charles Pradier et d’Abdullah Turkistani, les responsables de la chaire.

Réintroduire l’éthique dans la finance
Au travers de cette initiative inédite, les deux universités ont pour ambition de développer une recherche de qualité autour de la moralisation de la finance et, par ce biais, autour de la finance islamique, présentée aujourd'hui comme une alternative éthique à la finance conventionnelle, qui interdit notamment les intérêts (riba), la spéculation et qui se fonde sur les principes d'adossement de tout financement à un actif tangible et du partage des pertes et des profits.

Selon Pierre-Charles Pradier, spécialiste de la théorie de la décision et de l'économie du risque et coresponsable de la chaire, « son objectif est de répondre à une demande sociale qui est celle de trouver une évolution soutenable, socialement acceptable de la finance. » « On voit aujourd’hui avec la crise de la dette souveraine que les modalités de financement des Etats conduisent à une remise en cause de la construction européenne. L’objet de notre chaire est de réintroduire une dimension éthique dans la finance pour qu’elle soit au service de l’économie et au service des projets politiques et de développement des peuples », ajoute-t-il.

Même si une formation de finance islamique n’est pour le moment pas envisagée à la Sorbonne, la perspective d’une formation de finance islamique pourrait prochainement naître dès lors que l’opportunité s’en fera sentir dans les prochaines années. « Les meilleurs diplômes sont ceux qui sont adossés à une activité de recherche reconnue et donc si nous n’avons pas encore développé une activité d’enseignement, c’est prévu » mais pas pour tout de suite, nous confie M. Pradier.

L'objet premier de la chaire est donc de développer une recherche de haut niveau sur l'éthique de la finance. Une chaire entièrement financée par l’Arabie Saoudite à hauteur de 1 million d’euros sur trois ans, en la personne de Mohammed Hussein Al-Amoudi, un homme d'affaires ayant déjà financé cinq autres chaires de recherche.

La coopération bilatérale au cœur de la chaire
C'est ainsi que des séminaires mensuels à destination d’un public avisé (doctorants, post-doctorants et chercheurs) ont déjà été organisés dans le cadre de la chaire depuis mai 2011 et se poursuivront tout au long de l'année universitaire. Il s'agit de vidéoconférences, tripartites entre Paris-1, l'Institut d'économie islamique et la faculté des femmes de l'université du roi Abdulaziz, qui permettent de travailler à trois sur des sujets précis.

Cinq colloques, à destination d'un plus large public, sont prévus, dont un sur le dialogue des cultures en février, sur le développement économique de l'Arabie Saoudite en mai et sur le financement de l'Etat en novembre. De ces colloques, des publications scientifiques seront ensuite produites.

Un programme d’échange de doctorants entre les deux universités sera également développé, ajoute Kader Merbouh, coordinateur de la chaire à la Sorbonne. L'opportunité pour cette faculté, réputée pour ses formations en droit et en économie, de se positionner au Moyen-Orient.

La coopération avec l'université du roi Abdulaziz est « fondamentale car l'Arabie Saoudite représente une source de légitimité académique dans le domaine de l'éthique musulmane. L'académie de jurisprudence (fiqh) est située à Djeddah et est voisine de l'université, qui a des équipes de recherche pionnières dans le domaine de la finance islamique, la meilleure bibliothèque et une proximité avec la Banque islamique du développement (BID) », s'enthousiasme M. Pradier. Autant d'atouts dont La Sorbonne peut se servir pour faire rayonner la finance islamique en France.

Lire aussi :
Pourquoi la finance islamique peine à démarrer au Maghreb ?
Finance islamique : un secteur en pleine expansion pour 2012
Finance islamique : les leçons malaisiennes pour la France
Le premier indice boursier de l’alimentation halal lancé en Malaisie
La finance islamique séduit les cabinets d’avocats
Finance : Stoxx lance son indice boursier islamique
De plus en plus de femmes dans la finance islamique asiatique
Paris-Dauphine lance son master en finance islamique
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Allenex AB: Allenex Board of Directors Evaluates the Mandatory Public Offer from Xenella Holding AB

2011-12-15T00:44:00.000-08:00

Xenella offers SEK 1.50 in cash for each share. The Offer does not include convertible instruments issued by Allenex. Xenella’s press release in the Swedish language on the Offer is available on Allenex’ website (www.allenex.se).

Xenella is a company controlled by Mohammed Al Amoudi and FastPartner AB (publ), Allenex’s two largest shareholders.

Xenella has indicated that the acceptance period will expire on 11 January 2012. The Board of directors of Allenex will, under NASDAQ OMX Stockholm’s rules on public offers on the stock market (the”Takeover Rules”), announce its view on the Offer and the reasons for this view no later than two weeks before the end of the acceptance period.

Since the board member Oscar Ahlgren is also managing director of Västra Hamnen Fondkommission AB, whose largest owner is Mohammed Al Amoudi, and since the board member Sven-Olof Johansson is also the managing director and largest shareholder in FastPartner AB (publ), these board members have been considered to be in a conflict of interest position. Hence, they will not participate in the evaluation of the Offer or deal with any issues relating to the Offer. As the board members in question will be considered to participate in the Offer, the Board of directors will, under article III.3 of the Takeover Rules, obtain a fairness opinion on the Offer from an independent expert as a basis for its evaluation. Allenex has appointed KPMG as financial advisor to obtain the fairness opinion.

Stockholm, 23 November 2011

Allenex AB (publ) The Board of Directors

Allenex AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 20:10 (CET) on November 23, 2011.

Allenex is a life science company that develops, manufactures, markets and sells high quality products and services that enables for safer transplantations with better results. Allenex is listed on NASDAQ OMX Stockholm Small Cap (ticker: ALNX).

This information was brought to you by Cision http://www.cisionwire.com

Read more http://feeds.businesswire.com/click.phdo?i=f5b3a729a2d5bf0241486a8b3e78d6f1

Spreading in Gambella Investment, criticism, opportunity

2011-12-15T00:41:00.000-08:00

The leasing of large tracts of plots for agricultural investments such as seen in the picture have been the cause of criticisms of fostering “land grab” launched at the government in the past few years by pundits. However, the government counters this saying that the accusations are not valid and being used to promote hidden agendas.

In a sparsely populated area of 3.4 million hectares of Gambella Regional State, foreigners have become a increasingly common sight over the past five years. A growing number of companies have shown interest in venturing into the agriculture sector there and the government has been letting them.

The number of companies who have been granted investment licences in the region has jumped into the hundreds since 2005/06. Yet only 34 licences had been granted in the five years before that. This interest by both local and international companies to lease land in the region has been met with criticism from pundits as nothing more than land grabbing.

There has been no environmental impact assessment done to date and people are being driven off their lands forcefully, allege these pundits, one of which is the Oakland Institute, a think-tank based out of California in the United States.

However, theirs is not an accusation the Ethiopian government seems to have given much attention to. It has been staunchly refuting the allegations and has been accusing these proponents of disseminating such claims to promote hidden agendas. The investment allows for job creation, technology transfer and helps in food insecurity on lands that have lain bare without any agricultural activities on them, it argues.

The government believes that the lands which are not used by small farmers should be used for huge commercial farms and thus require huge capital investment. Indeed some of the companies involved in the region’s plan for big projects require heavy machinery and investment in infrastructure.

One of the companies that have acquired land, perhaps the biggest in Africa, is India-based Karuturi Agro Products Plc, which received a 100,000ha plot. It plans to plant sugar cane, rice, cotton and maize.

A project by a subsidiary of Karuturi Global Ltd, through the Agro Products Plc, is the first venture for the company. Karuturi is known as the biggest rose producer in the world.

Having finished a one-year-long harvest of seedlings on 63ha for its sugar cane plantation, it is now planting 10,000ha with it. Also in the works is the erection of a sugar factory.

Karuturi believes that accusations of residents in the area not based on facts.

“The area used to be covered by forest which we had to clear,” Karmjeet Singh Sekhon, project director, told Fortune. “Our projects benefit not only the company but also the local people in terms of employment and transfer.”

Ruchi Agro Plc, an Indian company, which received 25,000ha Gambella Regional State in March 2009, employs workers from the locality making up 70pc of its workforce. The remaining are Indian technicians that operate the machineries and whom the project manager believe help transfer technology.

On top of the sugar cane plantations and the factory construction projects, the company is also undertaking construction of residential buildings for the company’s employees. Currently, there are 362 permanent and another 650 to 1,600 contractual employees in the company.

However, not all employees are not happy with their pay.

Abera Lera, 28, is one of the employees of the company. Although he has been working for the past seven months for a salary of 1,800 Br, he says it is not commensurate with work in the area.

“We do not have hardship allowances and we have to cover our own food expenses,” Abera, who has worked at Wongi Sugar Factor for 10 years. “Although we have been told the situation will get better, I am thinking about leaving the job,” he told Fortune.

Sharing his concern is Deneke Tora, who also works at Wongi with Abera.

Similar discontent is echoed by employees of Saudi Star, another mega investment project in the region. Incorporated in 2009 with a capital of 500 million Br, Saudi Star aims to grow rice on a 10,000ht plot it acquired using water from the Alwero Dam, which was constructed during the Dergue Regime to supply water to grow cotton.

It plans to access this dam, which has been idle for two decades, using a canal, to irrigate the farm. To facilitate this, the company has signed a contract worth 85 million dollars with GRC, a Pakistani company, for the construction of more than 30km of canal two weeks ago. The Pakistani company has agreed to complete the project within 11 months.

The company, established by Mohammed Al-Amoudi, has already put 80 million dollars into buying agricultural machinery and equipment from Caterpillar, which will be delivered by Ries Engineering SC.

Girma Umad, 28, is one of the employees currently working as a machine operator at Saudi Star. Before he came to work at the project, he used to live in the nearby town of Abobo with his parents.

Although he appreciates the chance to work without having any prior skill sets, he is not happy about the pay as well.

“I have managed to develop the skills needed through observation and personal practise, he told Fortune in appreciation for the overall working conditions. “However, the 25 Br I get a day is not even enough for my daily meals.”

A few weeks back some of the field workers had gone on strike demanding an increase in pay. This was triggered by an increase in wages for those involved in construction work.

However, the issue was resolved after discussions with the workers who received an increment of three Birr a day. The misunderstanding occurred as the increments were not given to all at the same time, according to Seifu wolde, the construction manager at the site.

Despite their complaints, many of the workers are still happy about the work opportunity they are getting.

“It is exactly this kind of technology transfer using machinery that we want to have shifted to our people,” Goaner Yer Zuor, vice president of the regional state, told Fortune.

It seems that the notion of employing local labour is taking root at Ruchi Agro Plc, another Indian company, which received 25,000ha in March 2009. The labour composition at the site is 70pc local, with the remaining technicians coming from India, according to Manohar Lankella (Phd), project manager of the company.

“We employ Indians because we use modern technology,” he told Fortune. “But they are also here to teach locals about how to use them.”

Currently Ruchi employs more than 160 employees.

Manhohar has had the same response to the “land grab” accusations, which he too says are not true.

“The land was empty and we had to clear the land before we could start our work,” he told Fortune, responding to accusations that people were forced to relocate to give way for his company.

Obanga Amir Okoch, 25, a native to the area and an employee of Ruchi agree. Obanga grew up in a local area called “fugnido. The land had lain bare for many years, and people were forced to relocate there during the military regime, according to Obanga.

“However, people left right after the regime was overthrown because they were put there against their will,” he explained to Fortune.

On the other hand, locals like Edosa Telila, 25, who has a diploma in law, seem to have no problem with the presence of foreigners on their land. In his view the locals are benefiting from ground water works and donations of maize at harvest time.

However, it is not just foreigners who have received land in the region, but local companies as well. One such company is Bazen Agricultural & Industrial Development which leased 10,000ha in 2005. It is currently preparing to undertake the clearing of 3,000ha to use as part of 7,200ha for its plantation.

Cotton, peas, maize and mango constitute the main cash and food crops currently cultivated on 2,300, 160, 80, and 53ha of land, respectively. A preliminary 10ha of vineyards also makes up part of the total cultivated land by the company so far. The company has plans to increase the actual cultivated land to 5,230 hectares by 2013.

The current potential harvest from its cotton farm, which takes up the lion’s share of the company’s cultivated land, is about 28 to 30ql per hectare, according to Desta Gebre, General Manager of Bazen, which employs, 48 permanent, 67 contractual and on average 913 seasonal workers.

One of the machineries used at the farm of Saudi Star used to process rice. The company has paid 80 million dollars for the procurement of machineries from caterpillar which will be delivered by Ries Engineering. There are two rice mills that are going to be erected at Gambella and Bishoftu (Debre Zeity) whose parts bought at a cost of 25 million dollar have arrived.

“More than 60pc of the daily workers usually come from Wolaita in the Southern Regional State, while the balance is made up of local workers from around the farm site,” he told Fortune.

Workers at Bazen seem to have less to complain about than other sites. Daily workers get paid 22 Br along with a kilogramme of maize flour, 50 gram of shiro and 30 gram of salt daily. They sleep in dormitories and receive one Birr for every kilogramme of crop they collect on top of their salary during the harvest season.

It seems that while many outside the area debate the land grab issue, the real concerns on the ground for the most part are about wages. Hardly any of the workers of the people who live nearby seem to have any notion that they are being overrun.

There are 306,916 people living in the region, many of whom are not involved in agriculture at all.

Allegations of land grabbing are totally baseless, according Wondimu Filate, public relations expert at the Ministry of Agriculture (MoA).

“The current government policy in agriculture promotes both commercial and small agricultural farming,” he told Fortune, saying that anyone who wants to get involved is handled according to their request.

Commercial agricultural investors who want to lease less than 5,000ha of land can conclude their agreement with the regional states while agreements in excess of that are at the federal level.

The large scale commercial agricultural ventures for which specialized equipment and know-ow are required cannot be undertaken by local companies, according to Wondimu.

Indeed this has been the case for a few of the farms in Gambella. Karuturi reported a loss of 15 million dollars when the Alwero and Baro rivers flooded. The company lost 60,000tn of maize that would have been collected despite the presence of dikes on the sides that face the rivers.

However, the 1.8m tall dikes were not enough to withstand the onslaught of water. That prompted the company to place dikes all around the farm and increase the height of existing ones. Currently, it plans to build a polder, which is low-lying tract of land enclosed by dikes forming an artificial hydrological entity with no connection to outside water.

This is to be accomplished by building walls that are four meters tall and nine meters wide.

As this is an undertaking that cannot be done by a local company, Karuturi has hired Water and Power Consultancy Services (WAPCOS), an Indian public sector enterprise with autonomy to enter joint ventures and subsidiaries, to provide consulting services in flood control and the design of irrigation & drainage systems. Water Watch, a Dutch advisory firm, has also been retained to provide satellite information on hydrological processes and water management issues.

The undertaking will cost as much as the crop that was lost, officials of the company had told Fortune after the flooding.

The magnitude of the scale of projects is also comparable at the farm site of Saudi Star. Not being able to find local companies to construct the canal for its irrigation, it has had to look outside and settled on the Pakistani firm.

It is also constructing two 25-million dollar mills in Gambella and Bishoftu (Debrezeit), 47km from the capital, for the processing of the rice it grows before it is packaged.

Ethiopia's Biggest Cement Plant to Start Output This Month

2011-12-12T07:19:00.000-08:00

By William Davison
Dec. 5 (Bloomberg) -- Derba MIDROC Cement Plc, Ethiopia’s biggest cement factory, said it will start production within the “next 10 days,” helping end a shortage of the building material in Africa’s fourth-largest economy.

The $351 million plant, about 70 kilometers (44 miles) northwest of the capital, Addis Ababa, will produce 8,000 metric tons of the building material daily by February, said Chief Executive Officer Haile Assegide. Derba is part of the MIDROC Ethiopia group owned by Mohammed al-Amoudi, an Ethiopian-born Saudi Arabian billionaire who is one of the biggest investors in the Horn of Africa nation.

Once output begins, Ethiopia “will be self-sufficient for the coming two to three years” in cement, Haile said in an interview at the site on Dec. 1.

Ethiopia, a net importer of cement, plans to boost output ten-fold by mid-2015 to 27 million tons, according to the government. The Derba plant will add 2.5 million tons per year, while expansions to Mesobo Building Materials Production Plc, owned by the country’s ruling party, and state-owned Mugher Cement Enterprise will add another 1 million, it said.

Dangote Cement Plc, Nigeria’s biggest company by market value, said in October it plans to invest $400 million in an Ethiopian factory with the capacity to produce 1.5 million tons per year.

Derba Cement, built by China National Building Material Co., may earn more than 2 billion birr ($115.9 million) annually, Project Manager Tadesse Kebede said in an interview at the site. “If everything goes well it will be a cash cow,” he said.

Loans

Al-Amoudi’s company invested $100 million in the operation, with the European Investment Bank, the African Development Bank, the International Finance Corp. and the Development Bank of Ethiopia providing the rest of the funds.

The project was delayed for “almost one year” because obtaining the loans took longer than expected, Tadesse said. “To work with multilateral banks is very difficult,” he said.

The factory, which took 3 1/2 years to complete, will require as much as 60 megawatts of electricity from the national grid, Haile said. The company paid for transmission lines and a sub-station to power the plant, according to Haile.

--Editors: Paul Richardson, Ana Monteiro.

To contact the reporter on this story: William Davison in Addis Ababa via Nairobi at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Paul Richardson in Nairobi at pmrichardson@bloomberg.net.

Saudi Star Gets Ex-state Minister as New Chief

2011-12-06T09:11:00.000-08:00

Company signs multimillion dollar deal with Pakistani firm to build canal

Saudi Star Agricultural Development Plc, a subsidiary company of MIDROC Ethiopia and perhaps the biggest agro industry firm in Ethiopia, has added a big name to its roaster. Mohammed Ali Al-Amoudi (Sheikh) has appointed Fikru Desalegn, former state minister for Capacity Building, as its executive director, replacing Haile Assegide, chief executive officer of Derba MIDROC and Tossa Steel Mill.

Haile confirmed that his successor at Saudi Star took over on November 1, 2011.

Often referred to as the shadow reformer while he was serving the administration of Prime Minister Meles Zenawi, Fikru served two terms in the now defunct Ministry of Capacity Building (MoCB), before he retired from public service, last year. He is credited as being one of the key figures that drafted and instituted the business process reengineering (BPR) that is widely applied in public institutions.

Before he was officially appointed to the new position at Saudi Star, Fikru, a father of three, joined the company in January of this year.

“I had no official position,” he told Fortune. “But I was studying the operations of the company closely.”

It is indeed a daunting task that awaits him, steering the company, which was incorporated in August 2009, with a capital of 500 million Br. Saudi Star aims to grow rice on a 10,000ht plot it acquired in Alwero, Gambella Regional State, and export 60pc of the produce to Saudi Arabia. The farm is to use the Alwero Dam, which was constructed during the Dergue Regime to grow cotton. The dam has been idle for close to two decades.

Saudi Star has signed a contract worth 85 million dollars with GRC, a Pakistani company, for the construction of a 42km canal, on Monday, November 28, 2011. The Pakistani company has agreed to complete the project within 11 months.

“One of my main goals is to see that this happens on time,” Fikru told Fortune.

Saudi Star has already put 80 million dollars into buying agricultural machinery and equipment from Caterpillar. The machinery will be delivered by Ries Engineering SC, which is largely owned by Al-Amoudi.

Much of his career in public service, where he had also served as general manager of the Social Security Authority for nine years, was spent heading and participating in various boards. Notable among them was the Ethiopian Electric Power Corporation (EEPCo) and the Commercial Bank of Ethiopia (CBE) boards.

Fikru, who received his first degree in public administration from Addis Abeba University (AAU) and his postgraduate in management from the Institute of Social Studies in The Hague, Netherlands, made his mark in government through his success in reforming the nation’s pension system.

He is to oversee the development of the rice farm, whose seedlings are ready, as well as the erection of two mills in Gambella (for husking and drying) and in Bishoftu (Debre Zeit), 45km east of the capital, for whitening and packaging. All of the machinery for the mills have been imported, at a cost of 25 million dollars, and the civil work is underway for their erection.

BY HAILU TEKLEHAIMANOT
FORTUNE STAFF WRITER

http://addisfortune.com/Saudi%20Star%20Gets%20Ex-state%20Minister%20as%20New%20Chief.htm

Derba Cement Factory, Ethiopia to Offer 50% Credit

2011-12-06T09:08:00.000-08:00

Tuesday, 06 December 2011 08:58 Meron TekleberhanEthiopian Business News - Cement

Derba MIDROC cement factory has announced plans to offer 60 day credit to contractors for 50% of payment and an unconditional bank guarantee. The factory is expected to join the cement industry in Ethiopia within a month.

Contractors can utilize the arrangement indefinitely as long as the bank guarantee is in place said Haile Assedeie Chief Executive Office or Derba.

Derba will offer the same terms to private individuals provided that the organizations that they are employed by can put up similar guarantees.

The cement producer will also offer 5 day delivery services to customers within a raidus of 600 Km from Addis Ababa. The company expects to widen its delivery radius after two months to encompass all parts of the country according to Haile.

Derba will provide the delivery service through one thousand Volvo trucks to be managed by Derba Transport plc which is under formation.

Derba aims to solve price and supply problems associated with the cement industry in Ethiopia explained Haile. He decline to comment on the price of Derba cement.

It is to be remembered that current increases in the supply of cement after the increase in production by the Mugher and Mesebo Cement factories has resulted in an unprecedented decrease of cement prices.

It is expected that the entrance of Derba into the cement factory with a production capacity of 80,000 qls a day will further increase the supply and reduce the price of cement in the national market.

Mugher and Mesebo have requested that Ethiopian government stop the import of cement as current supplies are sufficient to meet national demand.

Source: Addis Fortune

.

Derba MIDROC Cement to Sell on 50pc Credit

2011-12-06T09:07:00.000-08:00

Delivery within 600km of Addis Abeba through 1,000 trucks to be part of its service

Haile Assegidie, CEO of Derba MIDROC, is sure that price and shortage problems in the cement market will be curbed immediately once the plant, which has a capacity to produce 8,000tn a day, becomes operational. Prime Minster Meles Zenawi is scheduled to inaugurate the factory, which would make it his first time to do so for MIDROC project and the second time for a project of the private sector.

In a unique market strategy, Derba MIDROC Cement Factory, slotted to join the industry in a month, is to sell cement on a credit basis and provide delivery services.

The factory, which has the capacity to produce 80,000ql a day, is to give 60-day credit to contractors who place a 50pc down payment and back up the remainder with an unconditional bank guarantee. This is not merely a one-time deal, as contractors can keep using it as long as the guarantee is in place, according to Haile Assegedie, CEO of Derba.

“It is hard for people to get loans these days,” he told Fortune. “As long as the unconditional guarantee is in place, they can buy cement, paying half of the cost.”

This is an offer that is open to individuals as well. Derba, 80pc of which is owned by Mohammed Al-Amoudi (Shiekh) and the remaining by MIDROC Ethiopia, is to give the service to employees, as long as the companies or institutions they work for put up similar guarantees.

The total cost of the factory which includes construction of roads, installation of transformers is 600 million dollars. A large portion of it, around 408 million dollars, came from Al-Amoudi while 45 million dollar is being financed by the Development of Ethiopia (DBE), the International Finance Corporation (IFC), the financing arm of the World Bank, and the African Development Bank (AfDB).

Bringing another new trend to the market, Derba, which was constructed at a cost 350 million dollars by China National Building Materials in a turnkey, is to deliver cement to clients within five days, to places located in 600km radius of Addis Abeba in the first two months.

“We will expand our radius after that,” Haile told Fortune. “Our aim is to deliver to any place in the country.”

This service is to be provided through 1,000 Volvo trucks, of which 750 have already arrived. The service is to be managed by Derba Transport Plc, a company that is under organisation.

The trucks are being used to transport wheat that the government imported until the factory commences operations. Having completed its erection, the factory is now undergoing performance tests and is expected to start operations on January 14, 2012.

Scheduled to inaugurate the company is Prime Minister Meles Zenawi. This is to be his first attendance at a MIDROC Group project inauguration and his second for all projects in the private sector. Previously, he attended the opening of Ayka Addis Textile & Investment Group, a Turkish textile factory, in May 2010.

Derba’s scheduled entry into the sector comes at a time when the cement market is seeing an unprecedented trend in its price. It has decreased by 200 Br within a span of only three weeks. Dominated by two factories, the state-owned Mugher Cement and Messebo, owned by the Endowment for the Rehabilitation of Tigray (EFFORT), the market has seen a recent increase in supply.

Part of the financing for Derba MIDROC, located 70km north of the capital in Oromia Regional State, came from DBE, IFC and AfDB in the tune of 45 million dollars.

The demand for cement has for long surpassed supply, pushing the price up. In the past fiscal year, the 11 companies in operation were only producing three million tonnes a year, while demand stood at 11 million tonnes. However, expansion of Mugher and Messebo, along with new entrants, has pushed up the supply to meet the demand and even surpass it. There are currently 15 companies producing at a combined capacity of 7.8 million tonnes annually.

This has prompted both Mugher and Messebo to write letters to the Ministry of Finance & Economic Development (MoFED) to stop financing the import of cement. The ministry has been financing imports to meet the demand of the various government institutions.

Due to this, the price of cement has come down as low as 260 Br a quintal. But, the price is likely to go down further as the competition increases, according to experts in the construction industry.

The shortage and price problems will be curbed, immediately, once Derba starts supplying the market, Haile said, declining to comment on how much their price will be.

The entry of Derba and its marketing strategy is nothing to worry about, according to an official at Mugher Cement, which has the capacity to produce 1.5 million tonnes, annually.

“There is enough market for both of us,” he told Fortune. “We also supply big government projects that require a lot of cement like the Renaissance Dam and are not worried about losing market.”

However, Mugher, which opened up its doors to the public, recently, as opposed to giving priority to government projects, is changing its own marketing strategy, as well. It is conducting a study to identify distributors at the national level to expand its reach.

“We are planning to have distribution to faraway places, such as Gambella, and widen our market,” the official told Fortune.

The flexibility coming up in the market that has for a long time been rigid is good news to Makeda Solomon, a mother of two, who is in the middle of constructing a service annex.

“I am really glad that this is happening, as it would mean I would be able to finish it under budget,” she told Fortune. “The added service of delivery is also very convenient.”

With so much happening in the market, it remains to be seen how prices will react, once Derba enters with these strategies.

BY HAILU TEKLEHAIMANOT
FORTUNE STAFF WRITER

http://addisfortune.com/Derba%20MIDROC%20Cement%20to%20Sell%20on%2050pc%20Credit.htm

Ethiopian Billionaire’s Cement Plant to Start Output This Month

2011-12-06T09:05:00.000-08:00

By William Davison

Dec. 5 (Bloomberg) -- Derba MIDROC Cement Plc, Ethiopia’s biggest cement factory, said it will start production within the “next 10 days,” helping end a shortage of the building material in Africa’s fourth-largest economy.

The $351 million plant, about 70 kilometers (44 miles) northwest of the capital, Addis Ababa, will produce 8,000 metric tons of the building material daily by February, said Chief Executive Officer Haile Assegide. Derba is part of the MIDROC Ethiopia group owned by Mohammed al-Amoudi, an Ethiopian-born Saudi Arabian billionaire who is one of the biggest investors in the Horn of Africa nation.

Once output begins, Ethiopia “will be self-sufficient for the coming two to three years” in cement, Haile said in an interview at the site on Dec. 1.

Ethiopia, a net importer of cement, plans to boost output ten-fold by mid-2015 to 27 million tons, according to the government. The Derba plant will add 2.5 million tons per year, while expansions to Mesobo Building Materials Production Plc, owned by the country’s ruling party, and state-owned Mugher Cement Enterprise will add another 1 million, it said.

Dangote Cement Plc, Nigeria’s biggest company by market value, said in October it plans to invest $400 million in an Ethiopian factory with the capacity to produce 1.5 million tons per year.

Derba Cement, built by China National Building Material Co., may earn more than 2 billion birr ($115.9 million) annually, Project Manager Tadesse Kebede said in an interview at the site. “If everything goes well it will be a cash cow,” he said.

Loans

Al-Amoudi’s company invested $100 million in the operation, with the European Investment Bank, the African Development Bank, the International Finance Corp. and the Development Bank of Ethiopia providing the rest of the funds.

The project was delayed for “almost one year” because obtaining the loans took longer than expected, Tadesse said. “To work with multilateral banks is very difficult,” he said.

The factory, which took 3 1/2 years to complete, will require as much as 60 megawatts of electricity from the national grid, Haile said. The company paid for transmission lines and a sub-station to power the plant, according to Haile.

--Editors: Paul Richardson, Ana Monteiro.

To contact the reporter on this story: William Davison in Addis Ababa via Nairobi at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Paul Richardson in Nairobi at pmrichardson@bloomberg.net.

Source : http://www.businessweek.com/news/2011-12-06/ethiopian-billionaire-s-cement-plant-to-start-output-this-month.html

Al-Amoudi to Pay Justice Ministry Nearly $1m

2011-12-06T09:02:00.000-08:00

Both claim $2.5m in Shadia Nadin’s Djiboutian accounts, MoJ told to apply to courts in Djibouti to
reclaim it

Mohammed Hussein Ali Al-Amoudi has been ordered to pay 905,158 dollars by the Federal High Court Seventh Civil Bench that he had collected to reclaim debt, which was not only owed to him but also to the government.

The ruling on Tuesday, November 29, 2011, came after the Ministry of Justice (MoJ) asked the court for judgement execution.

It all started when Shadia Nadin, Tamrat Layne, Hassen Abdela, and Nigussie Hayelom where found guilty of illegally exporting 1,000tn of coffee, a decade ago.

Along with their criminal liability for mishandling government property, they had been ordered by the High Court to pay 26.4 million Br, the value of the coffee. Although they had appealed to the Supreme Court, contesting the verdict, the Supreme Court had endorsed the High Court’s decision.

In the midst of the appeal hearing, Al-Amoudi intervened in the suit. The defendants also owed him money, as they had taken 16 million dollars from him, of which the majority (9.5 million dollars) had been taken by Shadia, while Nigussie and Hassen had taken 556,324 dollars and 6.4 million dollars, respectively, Al-Amoudi had claimed.

The debts of the latter two were settled after he had sold their shares in East Africa Bottling, worth 58.6 million Br. He then took his case to courts, both in Switzerland and Djibouti, going after properties of the remaining defendants. In the process, he collected 6.5 million dollars deposited in Swiss bank accounts under the names of Tamrat’s son and Shadia.

He had also been awarded a favourable verdict by the Supreme Court in Djibouti five years ago. Al-Amoudi could collect 2.5 million dollars to fulfil remaining debt owed to him by Shadia, the Djiboutian court ruled.

Although the court does not have any say over the rulings of the Swiss courts, it does for those in Djibouti, with which Ethiopia has signed a judicial assistance agreement, where the courts in each country enforce the rulings of each other.

It was while Al-Amoudi was applying for execution of the Djiboutian judgment that the Ethiopian MoJ had intervened.

The government takes priority in collecting debt from the assets of defendants, both locally and internationally, the ministry claimed. It asked the Federal High Court for all of the money taken by Al-Amoudi, citing a previous ruling by the Supreme Court Cassation Bench as precedence.

Alganeh Teshome, a lawyer for Al-Amoudi, contested this claim. The verdict by the Switzerland court was given before the Cassation Bench had reached a verdict, he said.

However, the money had been taken by Al-Amoudi despite his agreement with the MoJ that any assets seized from the defendants would be used to settle the debt of the government, the ministry claimed.

The three presiding judges at the Supreme Court, Aseged Begashew, Desta Gebru, and Tsegaye Amarew, ruled in favour of the ministry. The government has priority in settling debt, even using assets located outside of Ethiopia, they ruled. However, they have no say over the decisions of the Swiss courts, they ruled.

Additionally, they rejected the ministry’s claim to all of the money that Al-Amoudi took to settle debts. Nonetheless, Al-Amoudi had taken 905,158 dollars more than the amount that his debtors owed him and should, therefore, pay that amount to the government, they ruled.

The 2.5 million dollars deposited in Banque Indo-Suez Meri Rouqe of Djibouti under Shadia’s name and Berames Plc, which she administers, should be given to the government, the verdict read.

Al-Amoudi then appealed this decision to the Supreme Court Cassation Bench, claiming an error of law. The hearing was adjourned until December 18, 2011. Within this time, the ministry will apply to the Djibouti Court for a judgment execution on the 2.5 million dollars held in Djibouti.

But, the court does not have jurisdiction over banks in Djibouti to order the execution, the presiding judge, Muluken Teshale, said.

The ministry should take its judgement execution to the courts in Djibouti to collect the 2.5 million dollars, the he wrote in his judgement.

But, the execution should be frozen until the verdict of the Cassation Bench is known, Al-Amoudi argued unsuccessfully, however.

“Appealing to the Cassation Bench does not prohibit the ministry from collecting the money,” the judge ruled.

Muluken also ordered Al-Amoudi to pay the 905,158 dollars without interest, since the Supreme Court did not order the payment of interest in original the case with the debtors.

Al-Amoudi presented a bank statement from the Commercial Bank of Ethiopia (CBE) Meskel Square branch to show that he can pay the amount, leading the case to be closed at the High Court, while his appeal is still pending at the Supreme Court Cassation Bench.

By EDEN SAHLE
FORTUNE STAFF WRTIER

Sourcehttp://addisfortune.com/Al-Amoudi%20to%20Pay%20Justice%20Ministry%20Nearly%201musd.htm

Think tank deplores Ethiopia land grab deals

2011-12-05T05:52:00.001-08:00

Think tank deplores Ethiopia land grab deals

By Abebe Gellaw

Washington DC (ESAT News)--The founding Executive Director of the Oakland Institute (OI), an independent policy think tank based in California, USA, has condemned cheap land giveaway deals that have been displacing indigenous communities from their ancestral land. In an exclusive interview with the Ethiopian Satellite Television (ESAT), Anuradha Mittal has said that the deals are illegal and should be voided.
She says that the land giveaway deals in Ethiopia have been causing great misery to the indigenous people, who are not even being consulted when their fertile land is given away to foreign agribusinesses to produce food and cash crops for export.

Mittal further pointed out that the land deals that has been destabilizing and detrimental to ordinary Ethiopians are illegal and should be voided. “These deals are illegal. The people’s voice has not been taken into consideration. These deals need to be voided,” she said.

“These leases are pretty atrocious. If you look at the price of land of this fertile land, which is close to water being given away for leases, which are 45, 50 or 90 years leases. There are no environmental, social impact assessments done,” she said. Mittal further noted that the Ethiopian government cares little about the impacts of these deals on powerless local communities that are being displaced as a result of the land giveaway. “You don’t find any kind of consultation process with the local communities because in Ethiopia land belongs to the government,” she noted. Lack of democracy and good governance is at the heart of such a situation, according to Mittal.

“We don’t find investment scheme that would result Ethiopia as a country, as an economic power, gaining any kind of advantages,” she said adding that the scheme appeared to allow “strategic investors” to rob Ethiopia’s rich resources and taking the benefit out of the country.

Earlier this year the Oakland Institute published special reports on seven countries severely affected by land grab. In its country report on Ethiopia, OI underlined that the land lease deals would aggravate food insecurity, have negative environmental impacts and devastate indigenous communities. According to the report, published earlier this year, over 3.6 million hectares of land has been transferred, largely to foreign agribusinesses.

Despite the fact that Meles Zenawi has been arguing that leasing away millions of hectares of “unutilized land” would ensure food security, OI’s chief says that the land grab rush has the opposite effect and can even sustain hunger and famine. “In the case of Ethiopia, you talk about a country where 13 million people are dependent on food aid. So you can imagine trucks full of aid coming to Ethiopia. On the other hand you have trucks full of cereals, cut flowers and agro fuels leaving the country. So it is just the juxtaposition of the two pictures that base the reality in Ethiopia.”

The OI chief emphasized that the commercial agribusinesses are not growing food for consumption within Ethiopia but for export. “This is food that is leaving Ethiopia. So has nothing to do in terms of food security”, she said.
“The kind of foreign investment in land that we are seeing in Ethiopia is basically a recipe for continued famine in Ethiopia. This is not going to lead to improved food security. This is not going to be supporting small holder farmers. It doesn’t provide a kind of incentives you need to grow and develop as a country,” she added.
Mittal further indicated that OI researchers who travelled to Ethiopia to investigate the impact of land giveaway discovered rampant violation of human rights and the indigenous people are denied their basic rights to raise their concerns. “Our researchers reported a lot of repression. They reported indigenous communities were hunted down like animals where they constantly asked if they support these plantations. They are supposed to say yes. If they would have say no beatings follow, rapes follow,” she said.

The OI director blamed the Ethiopian defense forces for enforcing the land giveaway deals. Mittal says that the defense force uses tanks to monitor “the areas where people are constantly being beaten or arrested if they voice their dissent.”

In Gambella, a region severely affected by land grab deals, the institute’s researchers found out that one of the Gambella National Park is being deforested and devastated by investors operating in the region including Karuturi and Saudi Star, which is owned by Sheik Mohammed Al Amoudi.

Another OI finding contained in its country report on Ethiopia and that has raised eye-brows is that up to 75 percent of land grab investors in Gambela affiliated with the TPLF. The OI country report on Ethiopia states: “It is widely perceived that Tigrayans receive beneficial treatment in relation to investment are given land freely and receive preferential access to credit. All but one of the domestic investors that we visited were from the Tigray region…One regional government official in Gambella estimated that 75 percent of the domestic investors in Gambella were from Tigray.” Mital said such a practice is a kind of colonialism.

Mittal argued that Ethiopia is a rich country with massive resources that can feed itself. She highlighted that people have to figure out how to remove the governance obstacle that is hindering the nation’s progress.
“History shows that if a country like Ethiopia continues to marginalize its own people, continues to ignore and show no respect to human rights, continues to practice schemes which will cause more food insecurity, we do know that there will be more hunger and poverty in Ethiopia. We do know from history that increased hunger and poverty leads to increased insecurity that leads to political instability,” the OI chief said.

Author of several books and reports, Mittal, is an internationally recognized expert on development, trade, human rights and agriculture issues. Recipient of several awards, she was named as the Most Valuable Thinker in 2008 by The Nation magazine.

Source : http://nazret.com/blog/index.php/2011/12/04/think-tank-deplores-ethiopia-land-grab-deals?blog=15

Derba Cement Factory, Ethiopia Close to Completion

2011-12-03T03:20:00.000-08:00

Friday, 02 December 2011 12:46 Meron TekleberhanEthiopian Business News - Cement

An estimated 98% of the total installation work on Derba Cement factory has been completed announced Haile Assegdie, CEO for Sheikh Mohammed Al Amoudi Major Investment Projects. The Ethiopian factory has been set up at a cost of nearly 600 million birr and will enter production this month he said speaking to journalists visiting the site.

It is expected that Dereba will have a daily production capacity of 80,000 quintals or 25 million quintals per annum explained Haile.

The project encountered challenges including importing heavy machinery and digging through more than 880 meter through the sand and stone of a mountain according to Haile.

All equipment at the factory has been tested individually and the integrated testing for total operational activities will be conducted within the next weeks.

Derba will contribute to provide a sustainable source of cement for the growing national demand for cement alongside Mesebo and Mugher Cement factories.

It is to be remembered that Mugar and Messobo requested that the government halt cement imports in letters to the Ministry of Finance and Economic Development. The cement factories claimed that they can produce enough to meet local demand.

The cement factories have excess stock according to an anonymous official at Mughar. The two factories have increased their annual production by a total of 1.7 million tons following expansion projects.

Source: Ethiopian Herald

Comments

0#1 Ergete Yilma 2011-12-02 20:37

I am very much exhilarated for having such giant factory.the priceof cement from differet factories has started to decline.this might have emanated from fear of Derba.I remember that I bought 50 kg of Koka cement for 245 eth.birr. now its price here in Shashamane is 150 birr.what a dramatic decline.for sure it will go down.Ethiopia has really got the track of development.factories are booming.thre is real development indeed.
I wish grave to all ethiopian enemies,to all who defame it ,to all who eats from its hand and eats it again,to all who deny the existing facts with in the nation.God(Allah) bless Ethiopia.

Quote

http://www.2merkato.com/20111202631/derba-cement-factory-ethiopia-close-to-completion

tockholmsprognos: Svagt stigande kurser väntas i öppningen

2011-11-29T11:19:00.000-08:00

2011-11-24 08:47

Indikator Börsprognosvärde

Wall Street Negativt Sv.aktier NA Neutralt USA-terminer Positivt Europaterminer Positivt Asien Neutralt

(SIX) Stockholmsbörsen väntas inleda torsdagen omkring oregelbundet till svagt stigande kurser. Volymen kommer vara tunn i avsaknaden av indikationer från USA, där Wall Street håller stängt till följd av firandet av Thanksgiving. I Asien har utvecklingen varit mixad under morgonen.

Fokus ställs på den makroekonomiska bilden i Europa där skuldkrisen fortsätter att hålla greppet om marknaderna.

På onsdagen backade Stockholmsbörsen med nedgångar som var i linje med de ledande på Europabörserna. Nyheten att den tyska obligationsemissionen inte blev fulltecknad skakade om marknaden, liksom beskedet att det kinesiska inköpschefsindexet föll tillbaka i november.

"Ännu en röd dag bakom oss vilket ger oss fyra dagar i rad av nedgångar vilket får mig att tro att marknaden kan vara tillfälligt översåld vilket skulle innebära en liten rekyl i dag. 900 i OMXS30 ser intressant ut. 890 var i går en viktig intradagsnivå så det ska bli intressant att se om köparna kan hålla ovanför den nivån", skriver IG Markets analytiker John Lönnqvist i en kommentar på torsdagsmorgonen.

Bland dagens rapporterande bolag var medicinteknikbolaget RaySearchs tredje kvartalet var en återhämtning efter ett svagt första halvår.

"Finansiellt sett hade vi ett starkt tredje kvartal och därmed återhämtade vi oss efter ett svagt första halvår. Slutet av året kommer med all säkerhet att bli mycket spännande", säger vd Johan Löf i en kommentar i delårsrapporten.

Vidare väntas Lundbergs rapport efter lunch.

Franska Societe Generale lägger till klädkedjan H&M:s aktie på sin premium lista i en dagsfärsk analys. Banken upprepar samtidigt sin köprekommendation med riktkursen 270 kronor.

Antalet Goldcup 7154, under namnändring till Xenella Holding, har offentliggjort ett kontanterbjudande till aktieägarna i Allenex att överlåta samtliga sina aktier i Allenex till Xenella. Xenella erbjuder 1,50 kronor kontant per aktie. Erbjudandet omfattar inte Allenex konvertibler. Bakom budpliktsbudet står storägarna Mohammed Al Amoudi och Fast Partner.

Veckans Affärer lämnar i sitt senaste nummer köprekommendationer för Bringwell och Drillcon. Därtill har tidningen gått igenom fyra möjliga portföljstrategier för 2012.

Tysk makrostatistik inkom innan börsöppning helt i linje med förväntningar. BNP var upp med säsongsjusterade 0,5 procent under det tredje kvartalet 2011 enligt reviderad statistik, jämfört med kvartalet innan. I årstakt var BNP upp med 2,6 procent.

Strax efter börsöppning i Stockholm inkommer från svenskt håll konjunkturbarometer samt PPI för oktober. Klockan 10 presenteras ifo-index från Tyskland. Vidare ställs fokus på BNP för Storbritannien för det tredje kvartalet klockan 10.30.

Caroline Karlander, tel +46 31 350 64 73 caroline.karlander@six-group.se Nyhetsbyrån SIX

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Offer early redemption of convertible bond ("Q1")

2011-11-29T11:16:00.000-08:00

November 28, 2011 13:00 CST

Board of Allenex AB (publ), offers bondholder repayment of Allenex convertible ("Q1") to 100 percent of the nominal exchange rate, equivalent to 30 per convertible. Acceptance period is from 1 December to 16 December 2011.

Payment of redemption amount is expected to occur in late January 2012. Holders who accept the offer will receive the interest on the convertible for 2011 with a record date of 9 January 2012.

The background to the offer of repayment is the rights issue by the Board of Allenex decided on 20 September 2011, in accordance with the General Meeting's authorization, a portion of the proceeds would be used to provide early repayment of the convertible loan.

In accordance with the Securities Council's decision 2011:30 covered Allenex convertible ("Q1") is not of the mandatory offer by Mohammed Al Amoudi and solid partner AB (publ) through Xenella Holding AB announced on 23 November 2011.

Convertible owners are convertible ("Q1") registered on a securities account with Euroclear Sweden will shortly receive information from Allenex about redemption. Convertible owners are convertible ("Q1") in a custody account at a bank or securities firm with information on how redemption goes to from their manager.

Full offer details are available on the website Allenex, www.allenex.se, or the Western Harbour Brokerage's website, www.vhfondkommission.se.

Allenex AB (publ) discloses this information pursuant to the Securities Markets Act and / or laws governing trading in financial instruments. Submitted for publication November 28, 2011, kl.13: 00.

070-91 800 10
070-600 5364

For more information on Allenex visit www.allenex.se

Allenex is a life science company that develops, manufactures, markets and sells high quality products and services that enable safer transplants with better results. Allenex also has a portfolio of associated companies in life science. Allenex is listed on NASDAQ OMX Stockholm Small Cap (ticker: ALNX).

http://www.cisionwire.se/allenex-ab/r/erbjuder-fortidsinlosen-av-konvertibel--kv1-,c9191898

Allenex AB: Interim report January - September 2011

2011-11-29T11:11:00.000-08:00

Press release published at The Swedish Wire

For the third quarter July - September

· Net sales for the quarter were SEK 26.3 million (19.1), an increase of 37.7 percent. Third quarter results include sales from Olerup GmbH, which from June 1 is a part of the group.
· Operating loss (EBIT) for the quarter was SEK 0.2 million (-8.0).
· Loss after tax was SEK 59.3 million (-8.4). The results were impacted with the write down of the value of the associated companies of SEK 56.2 million for the quarter.
· Loss per share, basic and diluted, was SEK 3.47 (-0.42).

For the January - September period

· Net sales for the period were SEK 71.2 million (60.6), an increase of17.5 percent.
· Operating loss (EBIT) for the period was SEK 12.1 million (-4.1) Non-recurring costs of about SEK 7 million impacted results for the period.
· Loss after tax for the period was SEK 432.9 million (-8.4). The results were impacted with the write down of the value of the associated companies of SEK 413.9 million, of which SEK 56.2 million was charged to the third quarter.
· Loss per share for the first nine months of the year, basic and diluted, was SEK 25.09 (-0.33).
· Equity per share was SEK 9.00 (33.54).
· Equity/assets ratio was 36 (68) percent.

Key events in the third quarter

· The Board decided September 20 to implement a guaranteed rights issue in Allenex of up to SEK 154.7 million with preferential rights for existing shareholders.
· In conjunction with the decision to implement a rights issue, Allenex presented its long-term financial objectives for the Group.
· In August, Allenex's divestment of holdings in NovaHep AB and Recopharma AB was finalized.
· In July, Olle Olerup left the position of CEO of the Allenex subsidiary Olerup SSP AB.

Key events after the period end

· A rights issue in Allenex was implemented during the September 30 - October 21 period, providing the company with a cash injection of approximately SEK 108.6 million before issue costs. In addition, Allenex's convertible (KV1) was reduced by SEK 44.1 million by offsetting against shares.
· In conjunction with the completion of the Allenex rights issue, it was announced that the two largest shareholders in Allenex, Mohammed Al Amoudi and FastPartner AB (publ), subscribed to new shares corresponding to their share of the issue and in addition subscribed to additional shares in accordance with the guarantee undertaking. As a result, their respective ownership stakes in the company are over 30 percent of the shares and votes in Allenex, reaching the limit for a mandatory bid on Allenex.
· In October, AbSorber won patent protection in the U.S. for its diagnostic cross-match test XM-ONE®.
· At the annual ASHI congress (The American Society for Histocompatibility and Immunogenetics) held in mid-October in New Orleans, Allenex presented for the first time under the new company name its extended transplantationproduct portfolio.

CEO Anders Karlsson's comments on the third quarter 2011:
"The greatly improved operating results for the third quarter are a good indication of what the company is capable of delivering. Above all, sales in North America continue to show strong growth, while steady growth also continues in Europe. We are now beginning to see that our investments in proprietary sales channels in recent years is generating returns. In mid-October, Allenex participated in the annual tissue typing congress, ASHI, in New Orleans, at which response from customers was very positive. We have rapidly built up a good reputation in the North American market and our products continue to win market share. During the quarter, we continued our work to make operations more efficient and have established a joint operating organization for our entire transplantation sector operations. Going forward, we will continue to see significantly lower costs in terms of synergies and rationalization as a result of the streamlining."

Allenex AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 13:00 (CET) on November 16, 2011.

For more information please contact:
Anders Karlsson, CEO tel: +4670-918 00 10 , email: anders.karlsson@allenex.se
Okee Williams, Portfolio & IR Manager tel: +4670-60 053 64 , email: okee.williams@allenex.se

Or visit www.allenex.se

Allenex is a life science company that develops, manufactures, markets and sells high quality products and services that facilitate safer transplants with better results. Allenex is listed on NASDAQ OMX Stockholm, Small Caps, (ticker: ALNX). The Allenex-group had a total of 59 employees at the period end.

This information was distributed by Cision

http://www.swedishwire.com/press-releases/11982-allenex-ab-interim-report-january---september-2011

Stockholm: Starkt ifo-index höjer börserna, OMXS30 +1,7 %

2011-11-27T03:54:00.000-08:00

2011-11-24 10:25

(SIX) Kurserna på Stockholmsbörsen avancerade initialt och marknaden tog en snabb uppåtrekyl då Tysklands ifo-index lades fram. Utvecklingen var i linje med DAX 30 och CAC 40 i Frankfurt och Paris, medan Londons FTSE 100 noterade med modesta uppgångar. Asienbörserna handlades mixat på morgonen. Volymen förväntas vara tunn under dagen i avsaknaden av tydliga indikationer från USA, där Wall Street håller stängt till följd av firandet av Thanksgiving-helgen.

SIX Generalindex var klockan 10.15 upp 1,6 procent till 270 medan OMXS30-index ökade 0,7 procent till 904. Omsättningen på Stockholmsbörsen var 1,7 miljarder kronor.

Under gårdagen tyngdes sentimentet av att den tyska obligationsemissionen inte blev fulltecknad skakade om marknaden, liksom beskedet att det kinesiska inköpschefsindexet föll tillbaka i november.

"Ännu en röd dag bakom oss vilket ger oss fyra dagar i rad av nedgångar vilket får mig att tro att marknaden kan vara tillfälligt översåld vilket skulle innebära en liten rekyl i dag. 900 i OMXS30 ser intressant ut. 890 var i går en viktig intradagsnivå så det ska bli intressant att se om köparna kan hålla ovanför den nivån", skrev IG Markets analytiker John Lönnqvist i en kommentar innan börsöppning.

10 minuter in i handelssession tangerades 890 men index vände sedan uppåt igen och handades därefter i en stigande tendens för att vid klockan 10 bryta upp igenom 900 då marknaden fann momentum från Tysklands ifo-index.

Näringslivets förtroende i västra Tyskland enligt Ifo-index uppgick till 106,6 i november, vilket kan jämföras med en oreviderad nivå på 106,4 i oktober. Bedömare hade väntat sig en nivå på 105,1, enligt Dow Jones Newswires.

Sektormässigt noterades de flesta sektorer i positivt territorium, undantaget kraft. Bland OMXS30-bolagen noterades samtliga bolag ovanför nollstrecket. Ericsson var den mest omsatta aktien, upp 1,4 procent, och agerade draglok för index.

Bland dagens rapporterande bolag visade medicinteknikbolaget RaySearchs tredje kvartalet en återhämtning efter ett svagt första halvår.

"Finansiellt sett hade vi ett starkt tredje kvartal och därmed återhämtade vi oss efter ett svagt första halvår. Slutet av året kommer med all säkerhet att bli mycket spännande", sade vd Johan Löf i en kommentar i delårsrapporten. Aktien rusade i öppningen och var upp 20 procent till 18,30 kronor.

På analysfronten har det skett en del förändringar under morgontimmarna.

Franska Societe Generale lägger till klädkedjan H&M:s aktie på sin premium lista i en dagsfärsk analys. Banken upprepar samtidigt sin köprekommendation med riktkursen 270 kronor. Aktien steg 0,7 procent till 199,60 kronor.

Standard & Poors Equity Research höjer rekommendationen på pappers- och hygienföretaget SCA till starkt köp, från tidigare behåll. Riktkursen på 12 månader sikt höjs samtidigt från 105 till 120 kronor. Aktien avancerade 1,8 procent till 95,65 kronor.

MainFirst höjer sin rekommendation på SKF till neutral, från tidigare sälj. Anledningen är att aktien i stort sett nått bankens riktkurs på 115 kronor. Aktien var upp 2,7 procent vid en notering på 123,20 kronor.

Veckans Affärer lämnar i sitt senaste nummer köprekommendationer för Bringwell och Drillcon. Bringwell steg 1,9 procent medan Drillcon avancerade 6,7 procent.

Xenella Holding lägger ett kontanterbjudande till aktieägarna i Allenex att överlåta samtliga sina aktier. Xenella erbjuder 1,50 kronor kontant per aktie. Erbjudandet omfattar inte Allenex konvertibler. Bakom budpliktsbudet står storägarna Mohammed Al Amoudi och Fast Partner. Det var ingen handel i Allenex aktie.

Tysk makrostatistik i form av BNP inkom innan börsöppning helt i linje med förväntningar.

Kvar på den makroekonomiska agendan väntar BNP för Storbritannien för det tredje kvartalet klockan 10.30.

Vidare väntas bland annat Rörvik Timber och Lundbergs inkomma med sina delårsrapporter efter lunch.

Index Senast Idag % I år %

OMX Stockholm 30 904 +1,7 -21,8 SIX Generalindex 270 +1,6 -23,7 SIX Avkastningsindex 437 +1,6 -20,9 SIX Sverige cykliskt 15 239 +2,7 -31,7 SIX Sverige defensivt 15 291 +0,5 -5,7 SIX Volatilitetsindex 33,7 -2,6 +107,4

Caroline Karlander, tel +46 31 350 64 73 caroline.karlander@six-group.se Nyhetsbyrån SIX

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ALLENEX: AL AMOUDI O FAST PARTNER BJUDER 1:50 KR/AKTIE

2011-11-26T11:11:00.001-08:00

2011-11-24 06:17

Stockholm (Direkt) Xenella Holding har lagt ett bud på Allenex enligt reglerna om budplikt. Kursen är 1:50 kronor per aktie, samma som vid nyemissionen i oktober.

Det framgår av ett pressmeddelande daterat den 23 november.

Bakom Xenella står Mohammed Al Amoudi och Fast Partner. Båda kom över budpliktsgränsen på 30 procent i samband med emissionen.

Acceptperioden i budpliktsbudet löper till 11 januari 2012. Styrelsen i Allenex kommer senast två veckor före acceptperiodens utgång att offentlig göra sin uppfattning om erbjudandet. Börsredaktionen +46 8 5191 7910 Nyhetsbyrån Direkt

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Mohammed Al Amoudi is the richest black man in the World

Richest Rappers 2011-Forbes Wealthiest Hip Hop Artists: Mohammed Al Amoudi

Ethiopian billionaire wins libel action

in UK

Richest Rappers 2011-Forbes Wealthiest Hip Hop Artists:

Africa’s Billionaires of 2011 – Nigerian Emerges as Africa’s Richest Man

Africa’s Billionaires of 2011 – Nigerian Emerges as Africa’s Richest Man

Africa’s Billionaires of 2010

Africa’s 11 Billionaires 2009

1. Mohammed Al Amoudi

2. Patrick Soon-Shiong

3. Nicky Oppenheimer & family

4. Nassef Sawiris

5. Naguib Sawiris

6. Aliko Dangote

7. Mohammed Ibrahim

8. Onsi Sawiris

9. Patrice Motsepe

10. Femi Otedola

11. Johann Rupert & family

Mohammed Al Amoudi-Black Billionaires

Born: 1946, Dessie, EthiopiaCompany: Corral Petroleum Holdings, MIDROC EthiopiaPosition: ChairmanIndustry: PetroleumCountry: Saudi Arabia, Ethiopia

Meet The Millionaires And Billionaires Suddenly Buying Tons Of Land In Africa: Mohammed Al Amoudi

Bruce Rastetter and his various companies are accused of breaking promises to hire locals

Leonard Henry Thatcher, David Neiman and other investors acquired land through a secret cooperative behind the backs of locals

Jean Claude Gandur's company reportedly promised that the community's rice-growing land wouldn't be used, then it dug large deep channels to drain them

Miguel Pais do Amaral's company is reportedly paying landowners less than they made farming to lease the land

Kevin Godlington (who's linked to Tony Blair) and his company haven't provided any documentation to prove their land ownership

Sepahan Afrique is accused of forcing landowners to sign a lease agreement under duress without reading it

Susan Payne's and Frans van den Bergh's companies allegedly forced landowners to sign over 1,000 hectares

Muammar Gaddafi is accused of negotiating a deal where he gets 100,000 hectares of land for free to build a large water canal

Amadou Sissoko's company is accused of having villagers beaten who protested when bulldozers arrived on the land they've lived on for centuries

William Brown and Ed Rosenberg's company is accused of displacing thousands and providing misleading info about their investment

Aliou Tomota's company is accused of displacing hundreds of thousands of people without even bothering with a lease

Mohammed Al-Amoudi's company will reportedly squeeze excess water out of the community's Awero river to farm rice

The World's Billionaires #64 Mohammed Al Amoudi

Al-Amoudi to set up first tire factory in Kingdom

Saudi Arabia keen on African farm investments

Africa's Biggest Winners in 2011: Lamido Sanusi, Aliko Dangote, Fatimata Bazeye

Xenella Holding AB publishes offer document regarding the cash offer to shareholders of Allenex AB (publ) in accordance with the rules on mandatory bi

La finance islamique, une éthique valorisée par la Sorbonne

Allenex AB: Allenex Board of Directors Evaluates the Mandatory Public Offer from Xenella Holding AB

Spreading in Gambella Investment, criticism, opportunity

Ethiopia's Biggest Cement Plant to Start Output This Month

Saudi Star Gets Ex-state Minister as New Chief

Derba Cement Factory, Ethiopia to Offer 50% Credit

Tuesday, 06 December 2011 08:58 Meron TekleberhanEthiopian Business News - Cement

Recent Articles by Meron Tekleberhan :

Derba MIDROC Cement to Sell on 50pc Credit

Ethiopian Billionaire’s Cement Plant to Start Output This Month

Al-Amoudi to Pay Justice Ministry Nearly $1m

Think tank deplores Ethiopia land grab deals

Derba Cement Factory, Ethiopia Close to Completion

Recent Articles by Meron Tekleberhan :

Comments

tockholmsprognos: Svagt stigande kurser väntas i öppningen

2011-11-24 08:47

Offer early redemption of convertible bond ("Q1")

Allenex AB: Interim report January - September 2011

Press release published at The Swedish Wire

Stockholm: Starkt ifo-index höjer börserna, OMXS30 +1,7 %

2011-11-24 10:25

ALLENEX: AL AMOUDI O FAST PARTNER BJUDER 1:50 KR/AKTIE

2011-11-24 06:17

Born: 1946, Dessie, Ethiopia
Company: Corral Petroleum Holdings, MIDROC Ethiopia
Position: Chairman
Industry: Petroleum
Country: Saudi Arabia, Ethiopia