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. BBC Africa. Below is a list ofthe top 20 richest Ethiopians in 2023. Shimao. Even though Ethiopia is classified as one of the developing countries in the world there are still rich people who are living and enjoying life as the Westerners do. Eyob Joe Mamo - $2.5 Billion. Whitney MacMillan (conceived September 25, 1929) is a beneficiary to the Cargill-MacMillan fortune and filled in as the CEO of Cargill, America's most significant privately owned business. Mamo is the CEO of the D.C.-based group. booming construction industry in Ethiopia. This business guru holds a net worth of $12.5 Billion. 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. Berhane Gebrekristos - $2 Billion. In 2016, Ashenafi played a vital role in one of Africas largest private-sector business transactions. 1. top 100 richest person in ethiopia 2021. by . 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. Notably, Norfund revealed that a subordinated loan of $19.4 million was channeled through the European Financing Partners, a joint venture between the European Investment Bank (EIB) and several other European funds. Despiterankingonly 29th in Africa by living standards and economic wealth, Ethiopia is a land of riches for thousands. Beginning with small contracts, such as roof maintenance for Wabe Shebelle Hotel and slowly expanding, Samuel's hard work and integrity would cause his little company to blow up into the giant it is now: Sunshine Construction Group. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. Her bouncy curls and sharp facial features make her one of the most prominent entries on this list . in 1976, as a mere youth. 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-CNN-Wire. Ndegwa owns 4.3 percent of NCBA Group, making him one of the banks most significant shareholders. The company has been operating in Ethiopia for over 60 years now and is respected throughout for its competence. Here's how American families, from the poorest to the richest, spend their money +16 16 great furniture designers of the last century inspiring today's design trends The list of richest Indians by net worth based on an annual assessment of wealth and assets compiled and published by Forbes magazine. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. Ethiopia has only one billionaire, 150 multimillionaires and 3,200 ultra-high net-worth individuals. 1. Following the line of work her parents were in, Suhura upon growing older began her own small business khat dealership. Many of these men and women have also achieved exceptional success and are deserving of being included in the list of the richest Ethiopians. His sibling Naguib . Ethiopia-born billionaire Mohammed Al-Amoudi is Ethiopias richest man with a $6.96-billion net worth. The company eventually ceased operations in 2019 due to a government crackdown over alleged tax evasion and concerns about gambling addiction. Algeria . What is the net worth of Ethiopia? Mohammed Al Amoudi - $8.3 Billion. Young Rich List wealth takes $11b hit after tech plunge. Top 10 Richest Men In Uganda 2021 Being the eldest sibling, Samuel took a job as a parking attendant at the Addis Ababa Stadium, where he would use the opportunity to sell soft drinks, chewing gum, and cigarettes. Mark Zuckerberg's net worth topped $100 billion for the first time on August 7, 2020. He also explained the requirements for the special resolution to pass, stating that it must receive the support of shareholders holding a minimum combined stake of 75 percent. Nigeria has the highest GDP, but Seychelles has the highest GNI per person. She has been named Ethiopian Entrepreneur of the Year several times and her accolades in her industry prove that Suhura Khan is one of Ethiopia's richest people. Focusing his efforts on employee improvement, good management, and tight credit controls, BKIE soon began to expand to various other sectors. This company would be supplemented with SouthWest Development which gives services to companies engaged in the oil and gas industry in Ethiopia. Mohammed Hussein Al Amoudi was born in Ethiopia in 1946 to a Hadhrami father and an Ethiopian mother. This billion dollar deal is Ethiopia's largest ever privatization agreement. Sebhat Nega is considered a magnate within the Tigray Peoples Liberation Front (TPLF). 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. The company he registered, Sunshine Construction Limited, would one day grow to become the behemoth of construction it is today in Ethiopia. Eric Lefkofsky: He's the founder of Groupon. 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. Despite supply chain bottlenecks, Tesla deliveries have increased 27% since the second quarter of 2021. Omer owns coffee clearing machines, coffee washing stations and plans to start up a coffee plantation. 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. Fv 27, 2023 . In 2010, she retired from the group, leaving her empire to be managed by her sons. It spans . Berhane Gebrekristos present estimation of net worth is about $2 billion but his real worth previously was even more than this. Before becoming the prime minister of his native country, Zenawi was the president of Ethiopia in the nineties (from 1991 to 1995). His net worth climbed to $16 billion in 2021, according to Forbes, up from $12.1 billion in 2020 . One of the factors contributing to . Azeb Mesfin. Mukesh Ambani the chairman and largest shareholder of Reliance Industries, has been the richest Indian for 13 consecutive years. 8. Top 100 country songs of all time. 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. Suhura Ismail Khan was born in the 1960's in the Somali region city of Jijiga in the eastern part of Ethiopia. This land would be supplemented with an additional 1,500 hectares of land by the government of the Southern Nations, Nationalities and Peoples. Today, the group maintains active operations in trade, transportation, construction material rentals, hotels, domestic business investments, and product and service sales in Ethiopia and abroad. However, she returned to manage her business after the group incurred losses of up to 1 million within a short period. Samuel Tafesse - $1.6 Billion. All this and more, has made Omer Ali Shifaw one of Ethiopia's richest men and a self-made one at that. As a local partner in Ethiopia for Japan Tobacco International, he closed a $1.4-billion deal to acquire a 40-percent interest in Ethiopias National Tobacco Enterprise. Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. The billionaire owns Svenska Petroleum, Midroc Europe (a construction and property group) and Preem (his most valuable asset) through the wholly-owned Petroswede AB. In 2011, her group recorded sales of between 30 and 40 tonnes of khat per day. Ronald Karauri, who made the announcement, revealed that Pevans is facing a staggering Ksh14.3 billion ($114.7 million) in negative equity. She also has a criminal image of herself among the people of Ethiopia, with the name mother of corruption given to her by the people. What is the richest country in Africa? 2 weeks ago. Aliko Dangote: The first on the list is Aliko Dangote. 1. He's worth $4.5 billion and is the 638th richest person in the world. 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. 1. Seyoum Mesfin - $1.8 Billion. In 2021, the respective headliners were Kendrick Lamar, Tyler, the . Buzuayehu Bizenu is the founder and chairman of East African Holding (EAH), a leading industrial conglomerate in Ethiopia. He had a net worth of around 12 billion U.S. dollars and ranked 144th worldwide. Nov 21, 2022. 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. With annual revenue of more than $100 million, Ethio Biography places his net worth at $1.6 billion. 7. It was not properly convened and did not take place in Tanzania, as per the Companies Act, he emphasized. Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands. 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. Source:Oil & Gas, Real Estate and Technology. Al-Amoudis fortune is derived mainly from closely held companies in Sweden, Saudi Arabia and Ethiopia. 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. Tekleberhan Ambaye is an industry leader and one of Ethiopia's richest men. Follow us too! The . The company has more than 3,000 employees. The bank first operated in Uganda as the National Bank of India in 1906. 2. 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. When thinking about the richest people in Ethiopia, the name Ali Al Amoudi will always come up in the minds of almost all Ethiopians. 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. Heading into 2022, the 10 wealthiest individuals in the world are all worth . 3. Below is a list of the top 20 richest Ethiopians in 2022. wink wink, New interactive and fun video sessions with influencers and celebrities every thursday on. Furthermore, a deal with Globelq to create a solar park with 100MW is being negotiated. According to Wikipedia, he began his career at Ghana Commercial Bank in 1969. Orchid Business Group holds government contracts for a variety of highly lucrative endeavors, such as, being involved in the construction of the GERD or Grand Ethiopian Renaissance Dam, the Awash/Kombolcha/Woldiya Railway construction, as well as, many other foundation works and roads. He was raised born in north central Ethiopia, in the city of Dessie in the Wollo region, but grew up in Woldia. Patrick T. Fallon/Bloomberg. He has enough influence inside the party because he is a veteran there. Jimoh Ibrahim is a politician, lawyer, businessman, and philanthropist with a net worth of $1.1 billion. As of December 2023, Tewodros Ashenafis net worth is $5 Million, per All Famous Birthday. By 2006, Belayneh entered the transport business by establishing the BKPT or Belayneh Kindie Private Transport, with six 40 ton carrying trucks. Mohammed Al Amoudi - $8.3 Billion. The following are Ethiopia's top 20 companies and tax payers for the budget year ending in July 2020: (the amounts are approximate). Gerelta Business Plc. The highest and the lowest net worth. He serves as chairman of SouthWest Development, a leading player in Ethiopias oil and gas sector and the provider of various services to oil and gas companies. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. Nega was one of the most powerful men in Ethiopia. As a khat street vendor, her profits were very small until she began to explore the business opportunities in the neighboring country of Somaliland. Its milestones over the past 34 years have enabled it to build a reliable capacity and exhibit practical excellence in the construction sector. He was previously in the position of foreign affairs minister where he had a lot of power over trade. By. He was 57. Africa is the second largest continent in the world in terms of land area and population. 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. His company, the Dangote group started as a small trading firm in 1977. 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. At the time, John D. Rockefeller was the richest person in the worldworth roughly $285 billion in today's terms. Aside from his leadership role in Ethiopias first and only indigenous oil and gas company, SouthWest Energy, the leading business tycoon played a vital role in transforming the Ethiopian energy sector. Khan controls more than 50 percent of khat sales in Ethiopia, making it a world market leader. 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. 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. China. The Ethiopian men and women who have spearheaded the country's phenomenal growth stem from various backgrounds, ethnicities, and religions. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. Ethiopia has a great environment for coffee cultivation. A significant percentage of the countrys richest individuals are politicians. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets, and like products. 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. $113 . Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. He also owns a 17-percent stake in Crunchfish AB, a Swedish technology company that develops gesture recognition. He is a politician from the ruling party in Ethiopia. Tewodros Ashenafi born in 1969 is a highly educated and enterprising individual that has brought significant changes in the Ethiopia's energy sector. How does your net worth compare to the fortunes of the wealthiest people in the United States? Now that you know what's the richest country in Africa, you can invest in them to grow your wealth and improve their GDP. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. 2. He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. As a local partner in Ethiopia for Japan Tobacco International, he closed a $1.4-billiondeal to acquire a 40-percent interest in Ethiopias National Tobacco Enterprise. This company went into other sectors of agriculture as well so that it can flourish from all sides. 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. 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. List of wealthiest Canadians (Forbes, 2021) World rank Name Net worth (USD) Source of wealth 33: David Thomson & family: US$41.8 billion: Media 189: Joseph Tsai: . Eskinder's obsession with quality has changed the way several construction companies operate in Ethiopia. Eyob "Joe" Mamo is without a doubt a billionaire and one of Ethiopia's riches individuals. The dictator himself looted a huge amount of money in the name of taxes from the common people and before the government was formed, he helped them in the loot of money. Alemu founded soleRebels as a way to blend her Ethiopian communitys creative artisan talents with the traditional barabasso (Ethiopian recycled tire) shoe. Who is the richest company in Uganda? Taking advantage of this huge business opportunity, Suhura was able to quickly expand her business in an explosive manner. Who is the richest person in the world 2021? He's worth $4.3 billion and is the 665th richest person in the world. on. 3. Throughout the years, the company has delivered over 2,800 housing units with more on the way. His power in the Ethiopian cabinet along with the airlines helped him smuggle a lot of drugs within Africa and Asia. 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. Today, the group maintains active operations in trade, transportation, construction material rentals, hotels, domestic business investments and product and service sales in Ethiopia and abroad. Expanding legalization has driven an increase in bets on football's big game, with wagers more than doubling from 2021 to 2022. He was also heavily involved in the US War on Terror, helping to eliminate military organisations such as Al Qaeda. Source:Conglomerate Investment through EAH. Andrew Ndegwa, a Kenyan businessman and executive director of First Chartered Securities Limited, owns 4.3 percent of NCBA Group, making him one of the banks most significant shareholders. He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. In response, Ndungu expressed his disappointment, stating that the meeting where he and Asenath Wachera Maina were expelled was not conducted in accordance with the Companies Act. This includes the landmark Marriott Executive Apartments in Addis Ababa. As of June 2022, Nassef Sawiris, with a net worth of 7.3 billion U.S. dollars, is the richest man in Egypt, fourth richest in the African continent, and ranked 292 in the world. Buzayehu's East African Holdings is made up of several sister or subsidiary companies involved in manufacturing fast moving consumer goods, printing and packaging, agriculture (commercial farming), transport, agro processing, cement production, real estate, coal mining, coffee export, and coffee roasting and packing. As one of the fastest growing economies in the world, Ethiopia is on its way to becoming an important hub for global commerce. 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. August 24, 2021. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. With lucrative government contracts and the ability to successfully complete them, his German company reached great heights. 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. $92.413 billion (nominal, 2021 est.) 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. He chose Minneapolis, a city in the northern part of the state of Minnesota to settle in. He is the richest drug lord in Africa with a long criminal history of selling illegal drugs. Upon coming of age, Al Amoudi would travel to the Kingdom of Saudi Arabia and become a citizen of the country. Berhane Gebrekiristos. Ethiopians are known to be hard workers and passionate about their chosen endeavors. Who are the richest celebrities in Ethiopia in 2023? After 22 years away from his homeland, Ermias would return with his experience in Wall Streets stock exchange and start innovative businesses in Ethiopia. However, the companys payouts decreased in the following years, with Ksh290.3 million ($2.5 million), Ksh876.5 million ($7.51 million), and Ksh559.9 million ($4.8 million) paid out in 2017, 2018, and 2019, respectively. At one point, he was considered even more powerful than the late Meles Zenawi, the one-time prime minister. Its highest dividend payout was in 2016, with Ksh4.3 billion ($36.9 million) distributed to shareholders. In addition to this, Tewodros would become the Chairman and CEO of SouthWest Energy, the first and only local oil and gas organization. Although no longer living, Mohammed Tures company is run by 6 members of the Ture family. South Africa - $329.53 billion. The top 10 richest people on the planet have a combined net worth of $1.4 trillion. The total valuation of Australia's 100 richest people aged 40 and under is diminished, but you still need $35 million to get on the list . The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials and maximum comfort. He is presently the Ethiopian ambassador to China. The Ethiopian magnate and real estate developer has tendered a bid to buy a minority stake in D.C. United. Abay Tsehaye - $1.5 Billion. 2. By 2015, Belayneh would go on to invest in Ethiopia's agricultural sector with the initial payment of 25,000,000 ETB or 1,000,000 USD for 250 hectares of land for the cultivation of sesame, coffee, etc. Eyob Joe Mamo - $2.5 Billion. That is one reason he has made a lot of connections and made a lot of worth to the countrys economy. Date of birth: 24th February 1967. right away. Jamel Toppin . Meles Zenawi wasan Ethiopian politician and businessman born on May 9, 1955, but died on Aug 20, 2012, at age of 57 years old. The enterprising Eyob buys his gas from refiners and then sells it to the operators of the stations he owns. Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. 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. 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. 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. Tewodros Ashenafi Tewodros Ashenafi is a famous Entrepreneur, born on August 26, 1969, in Ethiopia. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. 9. 9. . Through the crafty use of his family's trading background, Ketema began to retail acrylic yarn and other similar items that were in high demand throughout Ethiopia. Unfortunately, his family's finances would force him to drop out after three years of higher learning, just short of receiving his degree. Who is the richest man in Ethiopia in 2022? Ethiopiahasonly a few billionaires, more multimillionaires, and 3,200 ultra-high-net-worth individuals. 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. He would leave the farm and become a school teacher and a political activist. Tekleberhan Ambaye is an industry leader and one of Ethiopias richest men. Fluent in Arabic, Swahili, English and Amharic the multilingual Ermias would drop out from Haile Selassie I University after only a year and move to the United States, where he would study and become an economist. By 2011, Eyob's company was valued at about 788,000,000 USD or 21,000,000,000 ETB. 2021 Power 100; 2020 Power 100; 2019 Power 100; 2018 Power 100; 2017 Power 100; Leads & Data Center. He serves as chairman of SouthWest Development, a leading player in Ethiopias oil and gas sector and the provider of various services to oil and gas companies. This includes the landmark Marriott Executive Apartments in Addis Ababa. 1. His net worth at present is $500 million. Jeff Bezos. This financing will aid Co-op Bank in strengthening its capital base, with Norfund participating in the financing through a direct credit line of $16 million and an additional $3.4 million through European Financing Partners. Most of the coffee produced here is exported and that made this agricultural company famous. Paul Ndungu, a prominent Kenyan businessman and shareholder in Pevans East Africa, the company behind the popular SportPesa betting brand, is auctioning off a residential property located in Nairobi. In 2016, his net worth was estimated by Forbes at approximately $10.9 billion and a relative fall in net value was linked to the global fall in oil and gold prices at the time of estimation.He was also listed as Ethiopia's richest man, the second richest . Odd Reitan of Rema 1000 fame and Norgesgruppen's Johan Johannson place third and fourth on the list with assets of NOK 51 billion and 50.5 billion respectively. 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. Egypt - $394.28 billion. His company TACON was also the first Ethiopian construction company to qualify for the International Standardization Organization or ISO. He has also invested in various sectors of business that have made the work simpler for him to gain profits. In 2016, Ashenafi played a vital role in one of Africas largest private-sector business transactions. 1 / 63. He would start the ardous climb to success by working various jobs, sometimes three at a time.

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