Below is a list of the top 20 richest Ethiopians in 2022. Patrick T. Fallon/Bloomberg. 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. Buzuayehu Bizenu is the founder and chairman of East African Holding (EAH), a leading industrial conglomerate in Ethiopia. Tekleberhan Ambaye is an industry leader and one of Ethiopias richest men. Algeria - $532.57 billion. 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. 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, Suhura runs her khat empire from Jijiga with thousands of employees, a multitude of transport trucks, and even an airline of her own (Suhura Airways). Gerelta Business Plc. 2. Who is the richest company in Uganda? Age: 55 years (as of 2023) Source of wealth: Investments in hospitality, insurance, transportation, oil, gas, and real estate. Meles Zenawi wasan Ethiopian politician and businessman born on May 9, 1955, but died on Aug 20, 2012, at age of 57 years old. 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. China. 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. Shimao. 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. Ethiopians are known to be hard workers and passionate about their chosen endeavors. Advertisement. His net worth at present is $500 million. From Nigeria, he is the founder and . 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. The Ethiopian magnate and real estate developer has tendered a bid to buy a minority stake in D.C. United. 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. 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. 2. 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. Ketema Kebede created the self named KK Plc. Heading into 2022, the 10 wealthiest individuals in the world are all worth . Sebhat Nega - $2 Billion. The recent move of Co-operative Bank Group to secure a total of $100 million in long-term debt from global institutional investors comes three months after the Kenyan financial services group reported a staggering profit of Ksh17 billion ($140 billion) at the end of the first nine months of its 2022 fiscal year. As of November 2022, Aliko Dangote was the richest man in Africa. A significant percentage of the countrys richest individuals are politicians. In 2011, Capitol Petroleum Group was valued at $800 million, making him one of the wealthiest businessmen in Ethiopia. Most of the coffee produced here is exported and that made this agricultural company famous. 1. richest nigerian in houston. He has also launched other businesses and philanthropic entities under Sunshine Investment Group. August 24, 2021. Mohammed Al Amoudi - $8.3 Billion. Beginning with only the import of items to satisfy the local demand, Omer would in 1995 expand to engage deeply within the coffee business. Who is the richest person in the world 2021? Aside from his ownership stake in the group, Bizenu control companies such as Bizenu Investments Plc, East African Agri-Business Plc, Cosmar East Africa Business Plc, East African Group (Eth) Plc, East African Tiger Brands Plc, Ethio-Asia Industries Plc, National Cement S.C., East African Coal Mining Corporation Plc, and a host of other companies. Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. After 22 years away from his homeland, Ermias would return with his experience in Wall Street's stock exchange and start innovative businesses in Ethiopia. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopias richest a billionaire. 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. 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. As a khat street vendor, her profits were very small until she began to explore the business opportunities in the neighboring country of Somaliland. 1. Amazon founder Jeff Bezos is the richest man in the world, according to the 2019 Forbes billionaires' list released this week. 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. Before becoming the prime minister of his native country, Zenawi was the president of Ethiopia in the nineties (from 1991 to 1995). He was a part of the diplomatic works that were used by the dictator for money laundering. 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. 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. The . This includes the landmark Marriott Executive Apartments in Addis Ababa. 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. Kenya - $269.29 billion. He's worth $4.5 billion and is the 638th richest person in the world. He was close to Meles but was later kicked out of both organisations. Abay Tsehaye - $1.5 Billion. top ten richest men in nigeria. Before starting his company in Ethiopia, Eskinder had already become a success in Germany. Top 20 Richest People In Pakistan and Their Net Worth 2022. Elon Musk. Following the opening of its 22nd location in Hamburgs trendy St. Pauli District, the group is on course to control 500 global soleRebels branded retail stores and generate $1 billion in revenues by 2028. Expanding legalization has driven an increase in bets on football's big game, with wagers more than doubling from 2021 to 2022. By 2008, Suhura would pay 37,000,000 USD or 999,000,000 ETB in taxes to the Ethiopian government. Source:Oil & Gas, Real Estate and Technology. However, less than 3,400 are ultra-high-net-worth individuals. 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. The shares from the company have made her present estimated worth of about $1.5 billion. She is the Widow of the late Prime Minister Meles Zenawi, she has ownership interests in many of the biggest companies in Ethiopia. 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. who is therichestperson in Ethiopia 2022. Who is the youngest millionaire in Ethiopia? Samuel Tafesse was born to a low income family and was forced to work as a youth of only 14 years old to support his family. 6. Top 10 Richest Men In Uganda 2021 1. His company TACON was also the first Ethiopian construction company to qualify for the International Standardization Organization or ISO. 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. His company, the Dangote group started as a small trading firm in 1977. 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. Source: Oil & Gas, Real Estate and Technology. This land would be supplemented with an additional 1,500 hectares of land by the government of the Southern Nations, Nationalities and Peoples. He is the richest drug lord in Africa with a long criminal history of selling illegal drugs. Furthermore, Zenawi received praise for his work towards a stable relationship with the African Union, playing an important role in improving the continents position on climate change. 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. Despiterankingonly 29th in Africa by living standards and economic wealth, Ethiopia is a land of riches for thousands. 2023 Billionaires.Africa. Tufaa left Ethiopia for the United States in 1992 and ultimately opened a U.S.-based transportation outfit. NCBA Group, a Nairobi-based financial services conglomerate led by the wealthy Kenyatta, Merali, and Ndegwa families, operates as a non-operating holding company through its vast network of subsidiaries in Tanzania, Rwanda, Uganda, and Cote dIvoire. was soon created in 2008, to strengthen and expand Belayneh's import and export businesses. Beginning his career with Merril Lynch & Co. in New York, Tewodros would go on to be a consultant for large multinational corporations looking to invest primarily in South America and the Commonwealth of Independent States. However, she returned to manage her business after the group incurred losses of up to 1 million within a short period. Not only one of Ethiopia's richest and a billionaire, but Samuel is also a role model representing what hard work and honesty can bring into one's life. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. Today, this company owns over a hundred. According to the latest 2022 Africa Wealth Report, the total private wealth currently held on the African continent is USD 2.1 trillion and is expected to rise by 38% over the next 10 years. His businesses produced 1.6% of total U.S. economic output. Liya Kebede . Her bouncy curls and sharp facial features make her one of the most prominent entries on this list . If you have Telegram, you can view and join ETHIOPIAN REPORTER JOB VACANCY IN ETHIOPIA right away. Always one looking for more, Samuel would go on to sign agreements with Marriott International and Hilton Worldwide to develop 3 hotel brands in Ethiopia under his company. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria. He had a net worth of around 12 billion U.S. dollars and ranked 144th worldwide. 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. Although no longer living, Mohammed Tures company is run by 6 members of the Ture family. Ethiopia has a great environment for coffee cultivation. She controls over 50% of the khat market in Ethiopia and is also a leader in global sales of the product. 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 . By 2006, Belayneh entered the transport business by establishing the BKPT or Belayneh Kindie Private Transport, with six 40 ton carrying trucks. 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. Richard Schulze (conceived January 1941) is the organizer and previous executive and CEO of Best Buy. A billionaire in his own right, Tewodros Ashenafi, one of Ethiopia's richest, is without a doubt, a significant contributor to the current explosive growth of Ethiopia. By2016, Tewodros would play a vital role in one of Africa's largest private sector business transactions. 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. Estimated net worth: $10 billion. 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. 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. Its estimated population is 99,202 people, its 2021 GDP was USD 1.45 billion, and its GNI per capita was 29,800. February 6, 2023. 9. Ashenafi is a co-owner of Ambo Mineral Water, the best-selling naturally-carbonated bottled mineral water in Ethiopia, and the beverage giant SABMiller. Samuel Tafesse is one of the most famous businessmen in Ethiopia. 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. 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. Jamel Toppin . 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. Rich List 2022 is our definitive guide to the wealth of the UK's richest people. right away. Samuel Tafesse - $1.6 Billion. When thinking about the richest people in Ethiopia, the name Ali Al Amoudi will always come up in the minds of almost all Ethiopians. Belayneh Kindie: Belayneh Kindie started his business, Belayneh Kindie Import and Export (BKIE), in 2005 with a startup capital of just 111,000 USD or 3,000,000 ETB. The closest and most trusted friend of Meles and Azeb. 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. 1. He chose Minneapolis, a city in the northern part of the state of Minnesota to settle in. Abdul Samad Rabiu becomes Nigerias second-richest man, net worth surges above $7 billion, African billionaire heirs are making their mark in philanthropy, Billionaire mining mogul Patrice Motsepe acquires luxury wine farm in South Africa, Egyptian billionaire Naguib Sawiris Orascom Investment sells stake in TWA in $35-million deal, Mohammed Akoojees Imperial Logistics partners with UbiPharm to create Africas largest healthcare distribution network, Sam Darwishs IHS Towers to acquire tower assets in Brazil in $315-million deal, Egyptian billionaire Yasseen Mansour loses $2.56 million as Palm Hills shares slump by double digits.