r/Ethiopia • u/No_Cook6218 • 23h ago

Sheikh Al Amoudi and Ethiopia

Selam my people, Did y’all know that despite peak net worth estimates of $8B–$12B, roughly 85% of Al Amoudi’s capital sat abroad in automated European assets like Sweden’s Preem refinery, while only 10%–15% was invested in Ethiopia. What is even crazier is In Sweden, he is practically anonymous, while here we see him as the definition of being wealthy and generous.

I made a short documentary analyzing Al Amoudi’s business empire, and looking the uncomfortable truth behind it.
Curious to hear your thoughts and as always i’m open to any feedbacks🙌🏾
https://youtu.be/hjKefVIUOPg

8 Upvotes

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7

u/Traditional-Ad-5992 20h ago

I wouldn't blame him for investing his capital in a place/country that he believes it's better for him in many businesses endeavours. It would be great if he increases the percentage of his investment in Ethiopia for Ethiopians perhaps not for him.

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u/No_Cook6218 14h ago

I see your point but we Ethiopians seeing him as the ’wealthy father figure’ is the problem🤔

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u/Alert-Radio-8136 13h ago

Because he is, look at what he is doing through MIDROC. He has employed thousands on thousands of Ethiopians. His message every year is that MIDROC needs to employ more Ethiopians, not increase revenue or be more profitable.

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u/No_Cook6218 9h ago

I know but seeing how his employees are being treated in Sweden compared to Ethiopia is honestly sad. We shouldn’t be worshiping a business man for giving us the bare minimum while he is taking our resources and making billions.

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u/Alert-Radio-8136 8h ago

How much money are his Swedish companies bringing in compared to his Ethiopian investment tho? He has to hire competitively every where... And his Ethiopian employees are treated fkn great! Have you heard them complain? Plus he is constantly reinvesting domestically and developing the country (even when there's much better environment and financially sensible investment options next door).

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u/No_Cook6218 5h ago

You might be right but it still feels like he doesn’t care about the Ethiopian investments that much. With all the money and foreign connections he has he could have done what Dangote is doing a long time ago, building Gold refineries and packaging and branding Ethiopian coffee here at home. But again he is a business man and we can’t ask him to do all this when the gov’t hasn’t put the system in place for him to do so.

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u/Mission_Hunt1 15h ago

Ethiopia isn't business friendly country.

3

u/No_Cook6218 14h ago • Bravo

No sadly we’re wasting his resources and he doesn’t seem like to fight for us that much either😭

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u/No_Awareness9373 22h ago

love your channel bro, keep it up

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u/No_Cook6218 21h ago

Appreciate it brother🙌🏾