Saudi-Ethiopian billionaire Mohammed Al Amoudi's MIDROC secures $80 million for Sheraton Addis upgrade
Billionaires Africa | 16.06.2026 22:56
MIDROC Ethiopia, the hospitality arm of the conglomerate owned by Saudi-Ethiopian billionaire Sheikh Mohammed Hussein Ali Al-Amoudi, has signed an $80 million long-term loan agreement with the International Finance Corporation to fund the refurbishment of the Sheraton Addis and the construction of a new Sheraton-branded hotel in Addis Ababa.
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