MIDROC Strikes Deal with Marriott International

Nov 13 , 2021

MIDROC Ethiopia and Marriott International have signed an agreement to place the management of a hotel in the compound of the African Union headquarters under the latter's Westin Hotels & Resorts brand. MIDROC, under the ownership of business tycoon Mohammed Hussein Al-Amoudi, began construction of the hotel in 2012, and has been negotiating with Marriott to take over management since. The two finalised the deal during a signing ceremony last week attended by Jemal Ahmed, CEO of MIDROC Investment Group, and Yasin Munshi, director of East African lodging development for Marriott International. Westin Hotels & Resorts is a hotel chain owned by Marriot International.


Premier Pushes Domestic Drug Production

A six-day domestic pharmaceutical production and innovation expo was inaugurated by Prime Minister Abiy Ahmed (PhD) last week. More than 110 local pharmaceutical manufacturers participated at the Millennium Hall on Airport Road. Recently appointed Minister of Health Meqdes Daba (MD), said local production of pharmaceuticals has become a cornerstone of health policy, which received approval from the Council of Ministers a month ago. However, a report from the Global Fund For Health last year r...


AFDB Lauds $8m for Solar Mini-Grid

Around half a million people foresee benefits from the pilot mini-grid built across nine sites in Amhara, Oromia, Sidama, and the Southern regional states. African Development Bank Group has approved eight million dollars in finance to support the project under the Distributed Renewable Energy & Agriculture Modalities (DREAM) program. The DREAM project, with a total budget of 20 million dollars through concessional loans, grants, and risk mitigation, will cover half of the mini-grid capital...


Parliament Approves $275m Loan for Urban Project

A  275 million dollar loan agreement was approved by Parliament last week, to support the second phase of the Urban Water Supply & Sanitation Project. Set to be implemented over the next three years, the project follows negotiations between Ethiopia and the International Development Association (IDA). The Chief Whip Tesfaye Beljige (PhD), presented details of the loan agreement to lawmakers and said that the project focuses on enhancing the supply of clean drinking water and improving sa...