FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo
Jemal Ahmed (left), managing director of Horizon Plantations, leads the charge in showing off to the city’s Deputy Mayor, Adanech Abiebie (centre), its latest offering: a new supermarket.

Jemal Ahmed (left), managing director of Horizon Plantations, leads the charge in showing off to the city’s Deputy Mayor, Adanech Abiebie (centre), its latest offering: a new supermarket. An event that was also attended by Abinet GebreMeskel, CEO of MIDROC Ethiopia, the fifth Queen’s Supermarket, the wholesale arm of MIDROC, was inaugurated on November 21, 2020.


A rather hurried affair, the event was not attended by a media briefing but rather a tour of the Supermarket located in Nani Tower, which is one of the tallest buildings in Addis Abeba and is also owned by one of the subsidiaries of MIDROC. The building had been designed with a supermarket store on its ground floor in mind – a store that aims to take in over 75 million Br in sales annually now.


“I’m happy that we've gotten [Nani] building working again,” said Adanech, concerning the building that has long been as famous for its inactivity as for its towering size in Addis Abeba’s skeletal skyline.


The decade-old Queen’s, which boasts sales of over 100 million Br in the first quarter of this fiscal year and plans to add three more stores by the end of this year, is one of over two dozen companies under MIDROC. One of the largest business conglomerates in Ethiopia, its relationship to the City Administration has grown warmer since its rather uncertain initial introduction.

MIDROC was one of the companies from whom land was repossessed by the City Administration two years ago. Some 55ha of land was taken from it with the claim that the land remained idle. But relations have grown warmer ever since, most visibly with the establishment of the 900-million-Br industrial-sized bakery, Sheger Bread & Flour Factory – a project much touted by the City Administration as a game changer in the production and distribution of loaves of bread at a subsidized price.


PUBLISHED ON Nov 21,2020 [ VOL 21 , NO 1073]

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.



Related Posts

Editors' Pick

Agenda

Rising Costs, Inflation Threaten Insurance Industry

Aug 18 , 2024 . By AKSAH ITALO

Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...

Fortune News

Electric Vehicle Push Leaves Investors in the Lurch

Jul 13 , 2024 . By AKSAH ITALO

Investors who rely on tractors, trucks, and field vehicles for commuting, transportin...

Fortune News

Study Reveals Higher Education Quality Crisis, Calls for Reform

Jul 13 , 2024 . By MUNIR SHEMSU

The cracks in Ethiopia's higher education system were laid bare during a synthesis re...

Fortune News

Authority Bets on Price Adjustment Manual to Tackle Construction Delays

Jul 13 , 2024 . By AKSAH ITALO

Construction authorities have unveiled a price adjustment implementation manual for s...

Commentaries

Construction Sector's Ambitious Skylines, Fragile Foundations Could Lead to a Costly Legacy

The construction sector has been booming for nearly two decades, with new housing dev...

The World's Babies Need Antibiotics, Not Just Vaccines

Over the last half-century, the number of children who die before reaching the age of...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

During Taxing Times, Tax Hunt Tests the Limits of an Unsteady Economy

Nov 23 , 2024

The fiscal puzzle deepens as the Council of Ministers approved a supplementary budget...

Bound by Debt, Government's Costly Love Affair with State Bloat

Nov 16 , 2024

In the realm of public finance, balance sheets speak louder than rhetoric. In such do...

Policy Bargain in Franco Valuta a Double-Edged Sword in the Forex Debacle

Nov 9 , 2024

Ethiopia's foreign exchange debacle resembles a tangled web of contradictions and con...

Addis Abeba Withering as Noise, Air Pollutions Choke the 'New Flower'

Nov 2 , 2024

Addis Abeba, fondly dubbed a 'New Flower,' is wilting under the weight of unchecked u...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

Beyond the Gates of Society's Neglect

Returning to social media after a three-year hiatus, I anticipated updates from frien...

Finding My Body Back, A Year Later

For many women, becoming a mother is a transformative experience that reshapes our priorities, self-perception, and connection to our bodies...

Life Matters

Hunger With Ambitions to End It

I was returning from dropping my son off at school when I saw a young mother huddled on a rough stone by the roadside. Her infant was strapp...

Human Face of Public Service

There are certain promises we make to ourselves—things we swear never to do again. I had made such a promise about taking the city bus. An...

Back
WhatsApp
Telegram
Email