Midroc Investment Group signs three Franchise agreements with Marriott International.
The agreement will enable MIDROC to open Protea by Marriott in Bahir Dar, “Four points by Sheraton” at Lake Tana and also another “Four point by Sheraton” at Lake Hawassa.
Tana Hotel located in Bahir Dar and Progress International hotel located in Hawassa, both will acquire Four Points by the Sheraton brand, and Blue Nile (Avanti) Resort, located in Bahir Dar will acquire Protea by the Marriott brand.
The agreement was signed October 6, 2022 at the premises of Midroc Investment Group in Addis Ababa, Ethiopia.
Jamal Ahmed, CEO of MIDROC and Solomon Zewdu, Deputy CEO of the Hospitality Cluster, signed the agreement on behalf of the Midroc Investment Group’s side with Marriott International.
Few months back MIDROC Ethiopia PLC announced that it had agreed with Marriott International to operate Westin Hotel in Addis Ababa, Ethiopia. Westin Hotel, owned by MIDROC, is located close to the African Union headquarters in Addis. Westin Hotels and Resorts took over the management of the new African Union Grand Hotel with an agreement being signed with Midroc Ethiopia PLC on November 12, 2021.
Westin Hotels and Resorts brand which took over the management is an international hotel brand and an American upscale hotel chain owned by Marriott International, which is part of Starwood’s Hotels and Resorts Worldwide since it was acquired by Starwood in 1994. Recently Westin has focused on expanding its global market, owning 250 locations in 40 countries across the world.
Marriot International has also been in the management of Sheraton Addis hotel with its most global brand within the Marriot portfolio which is also owned by Midroc Ethiopia.

Cooperative Bank of Oromia signs an agreement with an international consulting firm, DAR Al-Handash Consultants, to build a modern building dubbed ‘Financial District Tower’ as part of the banking giant’s first phase of mega construction plans which it intends to undertake in various parts of the country. The two parties signed the agreement on

Tuesday October 4, 2022 by officials of the two companies.
The building is expected to be a 4B+G+40 with 2 utility floors, 46 floors in total. The mega structure is expected to have office rooms, shops, training and recreational centers including parking. According to the agreement, the firm is responsible for oversight of the whole project, from design to the completion of the building. The bank currently is performing well in the banking sector and is making a considerable effort with regards to acquiring fixed assets.

The prominent human capital and financial sector consultancy firm, the i-Capital Africa Institute and one of the leading African Exchanges, Nairobi Securities Exchange (NSE) curve partnerships to back the upcoming capital market in Ethiopia.

As per the agreement signed on Tuesday October 4, the two parties have decided to work jointly on providing; customized capacity development program, short-term training and certification programs, exposure based learning in Kenya and other African countries, advisory services and consultancies to organizations and groups who are interested to establish capital market intermediaries, and share experiences and support the efforts of Ethiopian government and project teams to build an effective capital market ecosystem.
The two parties have already organized a two day training that was held on Monday and Tuesday for professionals selected from different organizations, offered by senior experts of NSE, an exchange founded in 1954.
The training covers topics such as introduction to the financial ecosystem system, the ecosystem of the financial system, mandate, and compliance expectation, key institutions and roles in the stock market, operation process of different intermediaries, custody service and opportunities, and regulation: Legal aspects of securities, among others.

Trade Mark East Africa (TMEA) inks an agreement with Ethiopia’s logistics association to boost professionals’ capacity on the emerging free trade zone concept.
During the agreement signing ceremony that was held on Tuesday October 4 at the head quarters of the Ethiopian Freight Forwarders and Shipping Agents Association (EFFSAA), the two sides agreed to facilitate a capacity building training for private and public office logistics experts to get further know how about the operation of free trade zone.
Despite the scheme not being new to the global scene, Ethiopia recently inaugurated the first ever free trade zone at Dire Dawa, 500 km east of Addis Ababa, on the aim to amplify the benefit from the system.

Elizabeth Getahun, President of EFFSAA, said that the role of the logistics professionals is crucial for any business, “Since the free trade zone concept is new for the country, a capacity building program is vital.”
Abenet Bekele, acting Country Director at TMEA, cited that his organization has different collaborative initiatives with EFFSAA whilst showcasing the solidified collaboration of the duo.