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MIDROC Investment Bets on Beverage Consolidation

Jan 31 , 2024

Midroc Investment has expanded its portfolio by incorporating Moha Softdrink Industries S.C., a leading beverage bottler, into its Group. The integration signals a strategic shift, launching a restructuring effort to revive Moha's operations, bottling international brands such as Pepsi and Mirinda.

Amanuel Muhe, the newly appointed CEO of Moha Softdrink Industries, has initiated major reforms in the past two months to restore the company's previous stature in the market. The company has recently renewed its partnership with global beverage giant PepsiCo. Despite closing three factories in the northern region, five other plants are gearing up to resume operations.

At a press conference held today at Sheraton Addis, Amanuel acknowledged the challenges faced by the company, notably foreign exchange shortages and internal management issues. Yet, he assured that decisive steps have been taken to overcome these hurdles.

"Moha will never come to a halt from here on out," he said bullishly.

Midroc Investment Group has 17 manufacturing companies as its subsidiaries and added Moha Softdrink Industries, a company owned by Mohammed Al-Amoudi and his wife. However, it has been operating outside the management purviews of MIDROC Group, a conglomerate owned by the same family.

Addressing the critical issue of foreign exchange shortages, Akalewold Admasu, the deputy CEO of Midroc's manufacturing sector, recognised it as a national challenge. However, he claimed to have developed well-devised strategies to secure essential raw materials for Moha. The company has set an ambitious goal to produce 55 million cases annually and is planning to introduce new products.

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