: 1, 3 In their 2017 list that ranked Canada's top 100 richest people, Toronto-based Rob McEwen of McEwen Mining, . From the beautifully designed Bole Road-Wello Sefer overpass to various other projects all over Ethiopia, he and his company have received a multitude of accolades. By 2011, Eyob's company was valued at about 788,000,000 USD or 21,000,000,000 ETB. She is the widow of the late dictator Meles. Recently, Akiko, along with the Italian Enel Green Power, was to sign a 3,240,000,000 ETB or 120,000,000 USD to develop, operate and build a solar power generation plant in Metehara. Elon Musk, with a fortune of $266 billion, is the richest person on the planet. A significant percentage of the countrys richest individuals are politicians. Age: 55 years (as of 2023) Source of wealth: Investments in hospitality, insurance, transportation, oil, gas, and real estate. As of November 2022, Aliko Dangote was the richest man in Africa. The Weeknd - $200 Million. Nega was in charge of the TPLF business empire under the conglomerate Endowment Fund for the Rehabilitation of Tigray. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets, and like products. He has enough influence inside the party because he is a veteran there. Samuel Tafesse - $1.6 Billion. Ethiopian Rich List: Wealthiest Persons In Ethiopia: Mohammed Al Amoudi - $8.45 Billion. EAH produces over 100 products and provides distribution and logistics services to subsidiary companies and external customers. That is one reason he has made a lot of connections and made a lot of worth to the countrys economy. When thinking about the richest people in Ethiopia, the name Ali Al Amoudi will always come up in the minds of almost all Ethiopians. Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. Muriuki holds a two-percent stake in the leading financial services group. He was also a member of the committee for the Endowment Fund For Relief Of Tigray. Eyob "Joe" Mamo is without a doubt a billionaire and one of Ethiopia's riches individuals. Top 10 Richest Men In Uganda 2021 By 2015, Samuel would expand to become the only one in Africa to open a Mariott Executive Apartment, and the only one in Sub-Saharan Africa to have a Marriott branded hotel. Gerelta Business Plc. Beginning with only the import of items to satisfy the local demand, Omer would in 1995 expand to engage deeply within the coffee business. It made her the top 10 richest people and the #1 richest woman in the world. The Ethiopian men and women who have spearheaded the country's phenomenal growth stem from various backgrounds, ethnicities, and religions. This billion dollar deal is Ethiopia's largest ever privatization agreement. His company, the Dangote group started as a small trading firm in 1977. 100+ Richest People In The World [RANKED] Net Worth & Eanrings Background & Bio's How They Made Their Fortunes Top Billionaires Fun Facts Pics More . Furthermore, Akiko's OBG also engages in construction machinery rental, spas, gyms, and logistical works. In 2020, private wealth in Ethiopia was estimated at $57 billion, $1-billion higher than the figure for Ghana and $33-billion lower than Kenya's $90 billion. Samuel Tafesse embodies the rags to riches story, as he has grown his company to be one of the largest construction companies in Ethiopia. Upon his release, finding his children all grown was difficult yet through hard work he would open up a company named after him (Omer Ali), but would in 1990 change the name to that of his daughters: Nejat International. Since then, it has grown from a single bus in 2004 to a multimillion-dollar valuation as of press time. View profiles for each of the world's 500 richest people, see the biggest movers, and compare fortunes or track returns. Follow us too! 1. 2. As a result, Ndungu and Maina, who had a combined 38-percent stake in the now-defunct holding company, will not receive any compensation for their investments. Below is a list ofthe top 20 richest Ethiopians in 2023. This land would be supplemented with an additional 1,500 hectares of land by the government of the Southern Nations, Nationalities and Peoples. Nov 21, 2022. Sebhat Nega is considered a magnate within the Tigray Peoples Liberation Front (TPLF). This was the beginning of his journey to financial success. February 6, 2023. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire. Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. Mamo, who tries to keep a low profile, is regarded as the king of the D.C. gas business. 1. He would start the ardous climb to success by working various jobs, sometimes three at a time. He has been chairman of Ethiopian Airlines. Jamel Toppin . The Ethiopian magnate and real estate developer has tendered a bid to buy a minority stake in D.C. United. Africa is home to some of the wealthiest people in the world. However, less than 3,400 are ultra-high net-worth individuals. Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. He was previously in the position of foreign affairs minister where he had a lot of power over trade. However, she returned to manage her business after the group incurred losses up to 1 million within a short period. . This business guru holds a net worth of $12.5 Billion. Source:Conglomerate Investment through EAH. Having ten children, Suhura planned to retire from her business and go on an extended pilgrimage in 2010, but her 4 eldest sons managed to incur losses of up to 1,000,000 Euros in a short period of time. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. Egyptian businessman Ahmed El Sewedys electric company records over $185 million in profit in 2022, Egyptian mogul Medhat Khalils Raya Holding signs deal to expand entrepreneurship support programs, GB Auto, led by the Egyptian Ghabbour family, hits historic $344-million profit mark, Led by Egyptian tycoon Yasmine Khamis, Oriental Weavers profit dives below $31 million in 2022, Tunisian auto mogul Moncef Mzabis fortune drops by $8 million as shares in automobile retailer plunge, Ethiopian billionaire Mohammed Al-Amoudis net worth soars by $161 million, Somali tycoon Abdirashid Duale sends aid to Turkey-Syria earthquake victims as death toll crosses 44,000, Sudanese-British billionaire Mo Ibrahims net worth surges by $100 million, Ethiopian entrepreneur Dawit Abraham sells board game to Cape Town-based gaming startup, Somali mogul Ismail Ahmed shocks industry as Zepz surpasses $800 million in funding, Kenyan businessman Paul Ndungu lists prime Nairobi property for sale, Kenyan businessman Andrew Ndegwa loses nearly $2.4 million in two months from stake in NCBA, Kenyan banker Gideon Muriukis Co-op Bank secures $100 million from global investors, Tanzanian billionaire Rostam Aziz pledges cheaper cooking gas amid $2.3-billion plant launch, Kenyan tech entrepreneur Paul Kimani takes startup to new heights with $2.7-million pre-Series-A funding, Nigerian banking magnate Jim Ovias Zenith Bank receives approval to restructure into a holding company, Nigerian billionaire Mike Adenuga gains $22 million from stake in oil firm, Conoil, Aliko Dangotes sugar business reports impressive performance as profit surpasses $110 million in 2022, Indian billionaire Sunil Bharti Mittals Airtel Africa to boost its capital expenditure to $750 million in 2023, Nigerian billionaire Abdul Samad Rabius net worth skyrockets to $8 billion, eyes Africas top 3 richest spot, Microsoft joins forces with Strive Masiyiwas Liquid to bring internet to underserved African communities, South African billionaire Stephen Saad eyes million-dollar deals to revive COVID-19 vaccine production lines, Nicky Oppenheimer, Africas third-richest man, loses $430 million in 26 days, Bernard Arnaults LVMH sets sights on South African billionaire Johann Ruperts Richemont, South African tycoon Neal Froneman-led Sibanye-Stillwater posts lower earnings, Q&A with Nigerian mining entrepreneur Emotan Josephine Aburime-Shine, Ethiopian tycoon Negusse Hailu recounts his experiences with EABSC, Meet Osinachi Ukomadu, an African tech entrepreneur revolutionizing logistics, Meet the South African woman who has created the worlds first ocean water distilled gin, African Judo Union President: Businesses must support sport. As per the index, President Dangote Group, Aliko Dangote, has retained his position as the continent's wealthiest man for the eleventh year in a row with a net worth of $20.5 billion, up from $20.3 billion last month. The enterprise was established as an operating holding for subsidiary companies acting in various sectors, such as FMCG manufacturing, agriculture, agro-processing, printing and packaging, transport, real estate, cement production and coal mining. Brian Shuel // Getty Images. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. It's when a person is young and chock full of new emotions that they connect the most intensely with certain songs or performers, after all. Ethio Telecom 21.6 billion Ethiopian Birr (585 million USD) Ethio Telecom, formerly known as the Ethiopian Telecommunications Corporation (ETC), is an Ethiopian telecom company serving as the foremost internet . We could have simply put together a list of New Jersey's wealthiest people, but NJBIZ . His father, who owned Mamo Kacha a bus transport company in Addis Ababa, sent Eyob to a Dakota boarding school to protect him from the ruling military Derg government. Top 20 Richest People In Pakistan and Their Net Worth 2022. Nigeria - $1.14 trillion. Africa covers a land mass of over 3 million square kilometres (11.7 square miles), which includes independent island states.. Africa is separated from Europe by the Mediterranean Sea and joined with Asia by the Isthmus of Suez. Advertisement. With lucrative government contracts and the ability to successfully complete them, his German company reached great heights. richest nigerian in houston. . Before starting his company in Ethiopia, Eskinder had already become a success in Germany. Ethiopia has only one billionaire, 150 multimillionaires and 3,200 ultra-high net-worth individuals. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets and like products. Mohammed Al Amoudi born in 1946 to an Ethiopian mother of Wollo Amhara descent and a Hadhrami Yemeni father is an Ethiopian and Saudi Arabian citizen. The company eventually ceased operations in 2019 due to a government crackdown over alleged tax evasion and concerns about gambling addiction. Source:Oil & Gas, Real Estate and Technology. Musk, who is also CEO and chief engineer of SpaceX, plans to send the largest rocket ever built into orbit in 2022. With a degree in economics from Columbia University as well as an alumnus of the world renowned Harvard Business School, Tewodros well versed in the ways of international business would bring his knowledge to Ethiopia, after holding prominent positions in the west. $288.56 billion (PPP, 2021 est.) 2023 Billionaires.Africa. . what is the recommended ratio for lifeguard to swimmer A true business man at heart that rose from humble beginnings to become one of the richest Ethiopians, Ketema Kebede is a true inspiration for all hoping to achieve substantial success. Belayneh Kindie began his journey to wealth by starting his company Belayneh Kindie Import and Export (BKIE), in 2005 with the startup capital of only 111,000 USD or 3,000,000 ETB. Sebhat Nega - $2 Billion. By 2008, Suhura would pay 37,000,000 USD or 999,000,000 ETB in taxes to the Ethiopian government. 11 . At the time of writing, Co-op Bank shares on the Nairobi Securities Exchange were trading at Ksh12.5 ($0.0985), 4 basis points lower than their opening price this morning, pushing the companys market capitalization further below the Ksh74-billion ($580 million) mark. He is a politician from the ruling party in Ethiopia. Who is the richest man in Ethiopia in 2022? Sebhat Nega is considered a magnate within the Tigray Peoples Liberation Front (TPLF). $180 Billion. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. Tekleberhan has also opened up Edna Mall, housing a modern movie theater, and one of only two countries in Africa that receive Hollywood movies directly upon their release. (Sponsored Content) Published. Buzayehu T. Bizenu is the founder of East African Holding Share Company (EAH S.C.), a huge conglomerate of companies operating in almost all the large business sectors of Ethiopia. Unfortunately, after five years of running the business, he would be placed in jail by the Derg military government for long years. Free shipping for many products! in 1976, as a mere youth. Tekleberhan Ambaye (Eng) began his rise to greatness in 1993, registering his self-named TACON or Tekleberhan Ambaye Construction Plc., with an initial capital of 5,000 ETB or 185 USD. Here is a list of the billionaires and millionaires in Ethiopia in 2023. Mamo, who tries to keep a low profile, is regarded as the king of the D.C. gas business. Khat is a leafy green plant containing two main stimulants used mainly in North East Africa, the Arabian Peninsula, and expatriate communities from these regions. Top 10 Richest African Countries by Overall GDP (INT$ at PPP International Monetary Fund 2021) Egypt - $1.38 trillion. He's worth $4.5 billion and is the 638th richest person in the world. As many as five Africans feature in the Bloomberg Billionaires Index 2021 of the world's 500 wealthiest people. By 1998, Omer's Nejat International had sales valuing at 198,000,000 ETB or 7,400,000 USD and owned the largest warehouse in Ethiopia with all the latest machineries. New interactive and fun video sessions with influencers and celebrities every thursday on thedistin Youtube Channel every week and more now scroll down to watch cat videos, Thank me later! The company today employs over 2,500 people with a dozen projects with contract values in the range of 5,000,000,000 ETB or 186,000,000 USD. Tewodros Ashenafi born in 1969 is a highly educated and enterprising individual that has brought significant changes in the Ethiopia's energy sector. Following a brain tumor operation in Brussels, Zenawi died from contracting an infection in August 2012. right away. Eyob Joe Mamo is an Ethiopian oil tycoon known for running and controlling half of the gas stations in Washington, D.C., through Capitol Petroleum Group, a leading wholesale distributor of petroleum services in the Metro D.C. area and New York City. For most, the journey to becoming one of the richest Ethiopians was not an easy one, but through an undying obsession to become successful, these people have reached their goals. All Rights Reserved. Furthermore, continually looking to grow, Ketema would also begin to manufacture acrylic yarn and blankets, engage in real estate development, and operate a transit and forwarding company. The following are Ethiopia's top 20 companies and tax payers for the budget year ending in July 2020: (the amounts are approximate). His sibling Naguib . Find many great new & used options and get the best deals for LEILEI Black 100% Silk Semi Sheer Blouse Top Short Sleeve Size XL at the best online prices at eBay! Patrick T. Fallon/Bloomberg. The billionaire owns Svenska Petroleum, Midroc Europe (a construction and property group), and Preem (his most valuable asset) through the wholly-owned Petroswede AB. Eskinders obsession with quality has changed the way several construction companies operate in Ethiopia. 9. Ndegwas stake in NCBA has dropped by Ksh219.82 million ($2.39 million) as a result of the recent decline in the banks share price, from Ksh2.82 billion ($22.85 million) at the start of the year to Ksh2.6 billion ($20.46 million) at the time of writing this report. Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands. The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials and maximum comfort. Although no longer living, Mohammed Tures company is run by 6 members of the Ture family. They have such an amount of money because of connections with the countrys politics and a stable business that takes the supplies from the country and sends them to other places. Ethiopiahasonly a few billionaires, more multimillionaires, and 3,200 ultra-high-net-worth individuals. Select Page. 10. Primarily engaged in the export of oil seeds and other similar products, BKIE rose to become the Ethiopia's largest exporters of sesame seeds by 2010. 9. Analysts expect the companys shares to recover in the medium to long term, as the leading financial services group prepares to launch operations in Ghana, Ethiopia, and the Democratic Republic of the Congo through partnerships led by its mobile phone banking service, M-Shwari. Buzuayehu Bizenu is the founder and chairman of East African Holding (EAH), a leading industrial conglomerate in Ethiopia. As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. Eskinder has also been awarded by the Ethiopian Roads Authority (ERA) and Addis Ababa City Roads Authority (AACRA) for being one of the best engineers benefiting Ethiopia. As one of the fastest growing economies in the world, Ethiopia is on its way to becoming an important hub for global commerce. Net Worth: $6.6 billion. $113 . In 2011, Capitol Petroleum Group was valued at $800 million, making him one of the wealthiest businessmen in Ethiopia with an estimated net worth of $2.5 billion. However, the recent bump in his wealth comes after his net worth slumped by $1.25 billion in 2022, from $6.71 billion to $5.46 billion. 1 / 63. Ermias would create, develop and fund huge and lucrative businesses such as Royal Crown Mineral Water Factory (Highland water), Access Capital, Access Bank, Access Real Estate, Zemen Bank, and Jano Music Band among others. Khan controls more than 50 percent of khat sales in Ethiopia, making it a world market leader. Patrice Motsepes TymeBank partners with The Foschini Group, eyes 26 million South African customers, Runa Alams DPI closes African Development Partners III Fund at $900 million, exceeding $800-million benchmark, Adidas faces $10-million loss as Beyonces Ivy Park fails to meet expectations. The Ture business empire is engaged in the import and distribution of hardware, machinery and construction materials, including the installation of small and large scale factories. Jimoh Ibrahim - $1.1 billion. He was named as Ethiopia's richest man, the 2nd richest black person in the world, and the 2nd richest Saudi Arabian, all this proves that Mohammed Al Amoudi has earned the title of tycoon. Mohammed Al Amoudi - $8.3 Billion. Jimoh Ibrahim is a politician, lawyer, businessman, and philanthropist with a net worth of $1.1 billion. His company is now worth 12,000,000 USD or 324,000,000 ETB, making him one of Ethiopia's richest people. He was also the chairman of the Tigrayan Peoples Liberation Front (TPLF) and the head of the Ethiopian Peoples Revolutionary Democratic Front (EPRDF) during the eighties. Tewodros also sits on a multitude of boards, think tanks, as well as, being a winner of international awards. This company went into other sectors of agriculture as well so that it can flourish from all sides. The enterprise was established as an operating holding for subsidiary companies acting in various sectors, such as FMCG manufacturing, agriculture, agro-processing, printing and packaging, transport, real estate, cement production, and coal mining. As of Jan 2023, India has 166 billionaires which put the country third in the world, after the United States and China. By. Liya Kebede . He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. Meles Zenawi - $3 Billion. 9. Thomas Pritzker: He is the heir to and executive chairman of the Hyatt hotel chain. | Website by ethioSEO | Terms of Use | Privacy Policy | Disclosure | Cookies Policy. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria. As of 2016, soleRebels shoes were sold in more than 50 countries after it was tagged the Fastest Growing African Shoe Brand in 2014. Always one to keep an eye out for opportunities, Tewodros would also become chairman of Ambo Mineral Water, one of Ethiopia's largest beverage brands.