The 63-year-old real estate mogul is the founder of Sunshine Investment Group, a construction and real estate development company that develops residential, leisure, and commercial properties in Ethiopia and the Middle East. He is extremely influential in the country. Nigeria has the highest GDP, but Seychelles has the highest GNI per person. Her bouncy curls and sharp facial features make her one of the most prominent entries on this list . His net worth climbed to $16 billion in 2021, according to Forbes, up from $12.1 billion in 2020 . He has amassed hundreds of millions of dollars through his political affiliations and his business dealings through TPLF. Recently, Akiko, along with the Italian Enel Green Power, were 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. 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. Buzuayehu Bizenu is the founder and chairman of East African Holding (EAH), a leading industrial conglomerate in Ethiopia. Ketema Kebede created the self-named KK Plc. Its estimated population is 99,202 people, its 2021 GDP was USD 1.45 billion, and its GNI per capita was 29,800. Top 10 Wealthiest/Richest People In Ethiopia In 2023. Berhane Gebrekristos present estimation of net worth is about $2 billion but his real worth previously was even more than this. At the time, John D. Rockefeller was the richest person in the worldworth roughly $285 billion in today's terms. Top 10 Richest African Countries by Overall GDP (INT$ at PPP International Monetary Fund 2021) Egypt - $1.38 trillion. Akiko Seyoum Ambaye, the daughter of the late and well known contractor Seyoum Ambaye, is the major shareholder of Orchid Business Group which was established in 2001. The IIFL Wealth Hurun India Rich List has revealed the top 100 wealthiest people in the country. By 1988, Al Amoudi's company MIDROC or Mohammed International Development Research and Organization Companies would land a 30,000,000,000 USD or 810,000,000,000 ETB contract to build an underground oil storage complex for Saudi Arabia. Tewodros Ashenafi is an Ethiopian entrepreneur and the CEO of SouthWest Energy, an Ethiopian oil and gas exploration and production company based in Addis-Ababa, the capital city of Ethiopia. Thus the production of coffee is a perfect business that Omer Ali Shifaw set up there. 2023 Billionaires.Africa. Eskinder Zewdie is a German-educated engineer that has brought his exceptional civil engineering abilities to his homeland. Celebrity Net Worth estimates Al-Amoudis net worth to be around $8.3 billion whereas Bloomberg places his net worth at $5.46 billion. Richard Schulze (conceived January 1941) is the organizer and previous executive and CEO of Best Buy. From a dishwasher to security guard to a factory worker, Tashitaa would work and work and eventually begin his own transportation company in 2003, using his wife's van. Ethiopian entrepreneur and leading businesswoman Suhura Ismail Khan is the head of a trading empire from Jijiga, with several thousand employees, dozens of trucks, and her airline, Suhura Airways, a Somalian charter carrier established in 2009. Here is a list of the billionaires and millionaires in Ethiopia in 2023. Alemu founded soleRebels as a way to blend her Ethiopian communitys creative artisan talents with the traditional barabasso (Ethiopian recycled tire) shoe. However, less than 3,400 are ultra-high net-worth individuals. His businesses produced 1.6% of total U.S. economic output. 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. Kanye West has made it to the top of the list this year by beating Jay-Z. Omer Ali Shifaw began in the spice business but would leave that to open his own company with a paid up capital of 5,000 ETB or 185 USD. Brian Shuel // Getty Images. Beginning with only the import of items to satisfy the local demand, Omer would in 1995 expand to engage deeply within the coffee business. This billion dollar deal is Ethiopia's largest ever privatization agreement. 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. Today, Tashitaa has over 300 trucks and vans, and transports about 15,000 people a day. 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. The banks share price has dropped 7.8 percent since the start of the year, from Ksh39.8 ($0.322) on Jan. 1 to Ksh36.7 ($0.288) on Feb. 28, pushing its market capitalization below Ksh60 billion. Eyob "Joe" Mamo. Over 80% of the people in Somaliland are avid chewers of khat, but due to the harsh climate in the region, the cultivation of khat is not possible, leaving them dependent on Ethiopian khat. 9. His company TACON was also the first Ethiopian construction company to qualify for the International Standardization Organization ISO. Ketema would begin to import and sell goods, export agricultural products, and distribute locally produced goods throughout Ethiopia. It ranks fourth for private wealth held by individuals. Eskinders obsession with quality has changed the way several construction companies operate in Ethiopia. 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. In recent times, Al-Amoudi has tightened his grip on his hotel business following the appointment of one of his sons-in-law to the board of Midroc Gold, whose portfolio includes the Sheraton hotels in Djibouti and Addis Ababa. He has also launched other businesses and philanthropic entities under Sunshine Investment Group. Akiko's deal with the EEP or Ethiopian Electric Power would make her the first Ethiopian to build a privately owned and operated solar plant in the country. 1. in 1976, as a mere youth. In 2020, private wealth in Ethiopia was estimated at $57 billion, $1 billion higher than the figure for Ghana and $33 billion lower than Kenyas $90 billion. Top 10 Richest People In New Zealand and Their Net Worth 2022. Nigeria - $1.14 trillion. Amazon founder Jeff Bezos is the richest man in the world, according to the 2019 Forbes billionaires' list released this week. In 2009, Belayneh's assets rose astronomically with his 134,000,000 ETB or 5,000,000 USD acquisitions of the famous Ethiopia Hotel (Addis Ababa) and the popular Ras Hotel (Adama/Nazreth). A tireless and true businessman, Al Amoudi would also venture into banking, agriculture, cement production, among a dozen other interests. Berhane Gebrekristos - $2 Billion. Now, let's take a look at the top 10 in more detail. Who is a successful entrepreneur in Ethiopia? 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. Belayneh Kindie has amassed a fortune through his Belayneh Kindie (BK) Business Group, an Ethiopia-based group initially focused on exporting oil seeds, nuts, and other products. The highest and the lowest net worth. Eyob "Joe" Mamo is without a doubt a billionaire and one of Ethiopia's riches individuals. Source: Oil & Gas, Real Estate and Technology. A significant percentage of the countrys richest individuals are politicians. Ermias Amelga was born in Addis Ababa but would move to Egypt and later to Kenya but would be returned to Addis Ababa to study secondary school and university. In 2020, private wealth in Ethiopia was estimated at $57 billion, $1-billion higher than the figure for Ghana and $33-billion lower than Kenyas $90 billion. While people on more modest incomes have also seen their assets rise in value during the pandemic, Oxfam said the 10 richest men own six times as much wealth as the bottom 40% (3.1 billion people). Muriuki holds a two-percent stake in the leading financial services group. Ethiopian Rich List: Wealthiest Persons In Ethiopia: Mohammed Al Amoudi - $8.45 Billion. 11 . Up next with a net worth of $680 million is Kwabena Duffuor. Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. He had a net worth of around 12 billion U.S. dollars and ranked 144th worldwide. . Eric Lefkofsky: He's the founder of Groupon. 2. Seyoum Mesfin - $1.8 Billion. 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. 1. The privately-owned company founded in Minnesota now has more than 300 trucks and vans and transports about 15,000 people a day. Top 10 Universities in Africa; 20 Interesting Facts about Africa; Top 100 richest people in africa; Top 7 most developed African countries; Richest Person In Kenya And Top 10 Wealthy Kenyans; Turkey is to completely erase all Somalia's debts to the IMF; 10 trending Kaftan outfit ideas for grooms-to-be; 5 highest paid African football players . As of Jan 2023, India has 166 billionaires which put the country third in the world, after the United States and China. Some of them include Columbia University's Africa Center Advisory Board, Atlantic Council International, New York's East West Institute, Initiative for Global Development, and was the winner of Young Global Leader (World Economic Institute). Tufaa left Ethiopia for the United States in 1992 and ultimately opened a U.S.-based transportation outfit. Add to this innovativeness and the ability to make something from nothing, and you have the recipe that makes the following list of the richest Ethiopians. South Africa - $861.93 billion. Focusing his efforts on employee improvement, good management, and tight credit controls, BKIE soon began to expand to various other sectors. After 22 years away from his homeland, Ermias would return with his experience in Wall Streets stock exchange and start innovative businesses in Ethiopia. Jeff Bezos of Amazon, the richest one of the world from the US has a net worth of US$ 140 bn. The company he registered, Sunshine Construction Limited, would one day grow to become the behemoth of construction it is today in Ethiopia. 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. Patrick T. Fallon/Bloomberg. With lucrative government contracts and the ability to successfully complete them, his German company reached great heights. The youngest person to feature in the list is a 23-year old Shashvat Nakrani who founded the . 3. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. right away. 3. Berhane Gebrekristos - $2 Billion. 15 of the Richest Ethiopians and their Successful Companies in 2021-----. Mohammed Hussein Al Amoudi was born in Ethiopia in 1946 to a Hadhrami father and an Ethiopian mother. Samuel Tafesse is one of the most famous businessmen in Ethiopia. The company has been operating in Ethiopia for over 60 years now and is respected throughout for its competence. 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. Since its founding in 2005, the company has grown into one of the countrys largest exporters of sesame seeds and a leading Ethiopian agricultural commodities trader. She is the widow of the late dictator Meles. To add to this immense business portfolio, the Ture family also has a cement factory, a packaging and printing factory, and an aggregate production facility. Read profiles and interviews, and see all the facts and figures for 2022 He was also a member of the committee for the Endowment Fund For Relief Of Tigray. Al-Amoudis fortune is derived mainly from closely held companies in Sweden, Saudi Arabia, and Ethiopia. He was one of the closest to the dictator Meles and his wife Azeb Mesfin. Fv 27, 2023 . Akiko Seyoum Ambaye, the daughter of the late and well-known contractor Seyoum Ambaye, is the major shareholder of Orchid Business Group which was established in 2001. Ndegwa owns 4.3 percent of NCBA Group, making him one of the banks most significant shareholders. With subsidiaries such as Kingdom Securities Limited, Co-op Trust Investment Services Limited, Co-operative Consultancy & Insurance Agency Limited, Kingdom Bank Limited, and the Co-operative Bank of South Sudan, Co-op Bank serves as the primary banker for Kenyas SACCOs. 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. One of the factors contributing to . All in all, Belayneh Kindie, an Ethiopian billionaire and one of Ethiopia's richest, is a titan of business, with his successful enterprises ranging from hotels, import/export, transport, rental, manufacturing, agriculture, etc. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. The closest and most trusted friend of Meles and Azeb. Estimated net worth: $4 billion. The Kenyan banking firm, which has 109 branches in Kenya, Uganda, Tanzania, Rwanda, and the Ivory Coast, was formed in 2019 by the merger of NIC Bank Group and Commercial Bank of Africa Group.
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