MIDROC's Longest-Serving CEO Tenders Resignation

Arega Yirdaw (PhD), the longest-serving CEO of MIDROC Technology Group.


MIDROC's Longest-Serving CEO Tenders Resignation

Arega Yirdaw (PhD), the longest-serving CEO of MIDROC Technology Group, tendered his resignation late last week on April 25, 2020. The CEO, in his letter to Mohammed Hussien Ali Al-Amoudi (Shiekh), the founder and chairperson of MIDROC Technology Group, said that efforts to undermine the management’s dignity and authority taken by self-appointed individuals are the cause of his resignation. He also mentioned that the indirect interference from Huda Real Estate, MIDROC Gold Mine and ELFORA Agro-Industries is part of the reason he has resigned. Arega has been overseeing 26 companies under the umbrella of MIDROC for the past 22 years since his return from the United States. MIDROC Technology Group and MIDROC Ethiopia Investment Group are operating in a wide variety of sectors, including agriculture and agro-industry, construction, hospitality and tourism, manufacturing, mining, oil and gas distribution, real estate development, transport (including air transport), trade and commerce, health care, education and training. MIDROC Ethiopia Technology Group is a subsidiary of MIDROC Ethiopia, a member of the MIDROC Group Companies operating in Africa, Europe and the Middle East.

[ssba-buttons]

Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hyatt Regency Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...