Here is a list of the billionaires and millionaires in Ethiopia in 2023. 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. In 2021, the respective headliners were Kendrick Lamar, Tyler, the . His company Dangote Group is currently on an expansion drive to many other African countries. A significant percentage of the countrys richest individuals are politicians. Kanye began his career in the music industry as a producer and he even used to write songs for a few famous and popular . Both men have watched their wealth increase by NOK 6.5 billion kroner since last year. Nega was one of the most powerful men in Ethiopia. Eskinder's obsession with quality has changed the way several construction companies operate in Ethiopia. Meles Zenawi - $3 Billion. He has been chairman of Ethiopian Airlines. 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. 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. 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 According to research conducted by Billionaires.Africa, here is a list of some of these wealthy people. 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 has amassed hundreds of millions of dollars through his political affiliations and his business dealings through TPLF. Who is the richest company in Uganda? The company has more than 3,000 employees. 5. 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. 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. He lives in Chicago. 6. 1 / 63. 15 of the Richest Ethiopians and their Successful Companies in 2021-----. 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. EAH produces over 100 products and provides distribution and logistics services to subsidiary companies and external customers. Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. The company eventually ceased operations in 2019 due to a government crackdown over alleged tax evasion and concerns about gambling addiction. From Nigeria, he is the founder and . 2 weeks ago. 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. Jimoh Ibrahim - $1.1 billion. June 6, 2022 . Muriuki holds a two-percent stake in the leading financial services group. Tewodros Ashenafi born in 1969 is a highly educated and enterprising individual that has brought significant changes in the Ethiopia's energy sector. Celebrity Net Worth estimates Al-Amoudis net worth to be around $8.3 billion whereas Bloomberg places his net worth at $5.46 billion. The company has been operating in Ethiopia for over 60 years now and is respected throughout for their competence. 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. 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. 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. In 2011, her group recorded sales of between 30 and 40 tonnes of khat per day. 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. Co-op Bank, which is one of the largest financial organizations in East Africa, is led by Muriuki, a multimillionaire banker and businessman, who holds a two-percent stake in the leading financial services group. 4. Mamo is the CEO of the D.C.-based group. Unfortunately, after five years of running the business, he would be placed in jail by the Derg military government for long years. 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 . Mohammed Hussein Al Amoudi was born in Ethiopia in 1946 to a Hadhrami father and an Ethiopian mother. Mohammed Hussein Al Amoudi Biography. Samuel Tafesse is one of the most famous businessmen in Ethiopia. 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). In addition to this, Tewodros would become the Chairman and CEO of SouthWest Energy, the first and only local oil and gas organization. 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. 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. Kenya - $269.29 billion. Ethiopia - $298.57 billion. 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. With annual revenue of more than $100 million, Ethio Biography places his net worth at $1.6 billion. Estimated net worth: $10 billion. 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. He was a part of the diplomatic works that were used by the dictator for money laundering. Heading into 2022, the 10 wealthiest individuals in the world are all worth . His company TACON was also the first Ethiopian construction company to qualify for the International Standardization Organization or ISO. He has enough influence inside the party because he is a veteran there. The Ethiopian magnate and real estate developer has tendered a bid to buy a minority stake in D.C. United. Estimated net worth: $4 billion. A significant percentage of the countrys richest individuals are politicians. His power in the Ethiopian cabinet along with the airlines helped him smuggle a lot of drugs within Africa and Asia. who is therichestperson in Ethiopia 2022. Who is the youngest millionaire in Ethiopia? Samuel Tafesse embodies the rags to riches story, as he has grown his company to be one of the largest construction companies in Ethiopia. In 2010, she retired from the group, leaving her empire to be managed by her sons. The billionaire owns Svenska Petroleum, Midroc Europe (a construction and property group), and Preem (his most valuable asset) through the wholly-owned Petroswede AB. Richard Schulze (conceived January 1941) is the organizer and previous executive and CEO of Best Buy. Following the line of work her parents were in, Suhura upon growing older began her own small business khat dealership. Africa is the second largest continent in the world in terms of land area and population. Before becoming the prime minister of his native country, Zenawi was the president of Ethiopia in the nineties (from 1991 to 1995). 10. | Website by ethioSEO | Terms of Use | Privacy Policy | Disclosure | Cookies Policy. He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. 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All Rights Reserved. iwi masada aftermarket parts. As a local partner in Ethiopia for Japan Tobacco International, they would go on to close a deal for 1,400,000,000 USD for the 40% acquisition of Ethiopia's National Tobacco Enterprise. 2021 Power 100; 2020 Power 100; 2019 Power 100; 2018 Power 100; 2017 Power 100; Leads & Data Center. According to research conducted by Billionaires.Africa. 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. He also owns a 17-percent stake in Crunchfish AB, a Swedish technology company that develops gesture recognition. Khan controls more than 50 percent of khat sales in Ethiopia, making it a world market leader. The privately-owned company founded in Minnesota now has more than 300 trucks and vans and transports about 15,000 people a day. Despiterankingonly 29th in Africa by living standards and economic wealth, Ethiopia is a land of riches for thousands. on. Akikos deal with the EEP or Ethiopian Electric Power would make her the first Ethiopian to build a privately owned and operated a solar plant in the country. 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. This land would be supplemented with an additional 1,500 hectares of land by the government of the Southern Nations, Nationalities and Peoples. Jeff Bezos. Source: Oil & Gas, Real Estate and Technology. Abay Tsehaye - $1.5 Billion. What is Mohammed Al Amoudis net worth? Ethiopia has only one billionaire, 150 multimillionaires and 3,200 ultra-high net-worth individuals. Kanye West. 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. They're worth a collective $12.7 trillion $400 billion less than in 2021, it says. The world's 10 richest people added $402 billion to their fortunes in 2021. This includes the landmark Marriott Executive Apartments in Addis Ababa. Azeb Mesfin - $4 Billion. EAH produces over 100 products and provides distribution and logistics services to subsidiary companies and external customers. Belayneh Kindie: Belayneh Kindie started his business, Belayneh Kindie Import and Export (BKIE), in 2005 with a startup capital of just 111,000 USD or 3,000,000 ETB. The Ture business empire is engaged in the import and distribution of hardware, machinery, and construction materials, including the installation of small and large-scale factories. What is the net worth of Ethiopia? Today, the group maintains active operations in trade, transportation, construction material rentals, hotels, domestic business investments and product and service sales in Ethiopia and abroad. Africa's billionaires saw their wealth increase significantly in 2021, similar to the previous year, despite the long-term effects of the Covid-19 pandemic on business activities and the operations of companies and financial assets controlled by these ultra-wealthy individuals during the year. Top 10 Richest African Countries by Overall GDP (INT$ at PPP International Monetary Fund 2021) Egypt - $1.38 trillion. 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. 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. 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. In 2011, Capitol Petroleum Group was valued at $800 million, making him one of the wealthiest businessmen in Ethiopia. . . . Taking the position of Prime Minister of Ethiopia from 1995 (until his death in August 2012), Zenawi was hailed as one of Africas strongmen, introducing a multi-party political system, and private press in the country, and reducing child mortality rates. His businesses produced 1.6% of total U.S. economic output. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. He is still one of the most influential people in the whole of Ethiopia today. Stanbic Bank is the largest commercial bank in Uganda with assets more than UGX 5.4 trillion. 9. Throughout the years, the company has delivered over 2,800 housing units with more on the way. 11 . By comparison, Elon Musk, at over $304 billion, still has a little ways to go just yet. Mark Zuckerberg's net worth topped $100 billion for the first time on August 7, 2020. Expanding further by looking to the booming construction industry in Ethiopia, Belayneh acquired 10 dump trucks, 4 bulldozers, 3 excavators, 2 graders, 3 mixers and a crusher which he rents out. The market value of Muriukis two-percent stake in Co-op Bank is now worth Ksh1.48 billion ($11.7 million). There were a record 2,755 billionaires in Forbes' 2021 list of the world's wealthiest people660 more than a year ago. Today, Eyob also called Joe owns and runs the privately owned Capitol Petroleum Group which controls over 41 percent of gas stations in Washington D.C. Ashenafi is a co-owner of Ambo Mineral Water, the best-selling naturally-carbonated bottled mineral water in Ethiopia, and the beverage giant SABMiller. He is presently the Ethiopian ambassador to China. He had a net worth of $3 billion, according to Celebrity Net Worth. Top 10 Richest People In New Zealand and Their Net Worth 2022. 91. The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials and maximum comfort. He also owns a 17-percent stake in Crunchfish AB, a Swedish technology company that develops gesture recognition. Ndungu is a prominent Kenyan businessman and shareholder in Pevans East Africa. 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. Kanye West has made it to the top of the list this year by beating Jay-Z. 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. In 2010, she retired from the group, leaving her empire to be managed by her sons. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. 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. Its milestones over the past 34 years have enabled it to build a reliable capacity and exhibit practical excellence in the construction sector. South Africa - $329.53 billion. Rich List 2022 is our definitive guide to the wealth of the UK's richest people. Most of the coffee produced here is exported and that made this agricultural company famous. 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. It was not properly convened and did not take place in Tanzania, as per the Companies Act, he emphasized. Furthermore, a deal with Globelq to create a solar park with 100MW is being negotiated. Eskinder Zewdie is a German educated engineer that has brought his exceptional civil engineering abilities to his homeland. Ermias Amelga was born in Addis Ababa but would move to Egypt and later to Kenya but would return to Addis Ababa to study secondary school and university. He was also heavily involved in the US War on Terror, helping to eliminate military organisations such as Al Qaeda. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. February 6, 2023. Africa is home to some of the wealthiest people 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. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. Thus the production of coffee is a perfect business that Omer Ali Shifaw set up there. Although no longer living, Mohammed Tures company is run by 6 members of the Ture family. As of 31 December 2020, the banks assets were valued at Shs8. As of 2016, soleRebels shoes were sold in more than 50 countries after it was tagged the Fastest Growing African Shoe Brand in 2014. 7. In 2016, Ashenafi played a vital role in one of Africas largest private-sector business transactions. Seeing as Co-op Bank is the third-largest bank in Kenya, with 65 percent ownership by local co-operatives, and the largest co-operative bank in Africa, this injection of funds is sure to have a substantial impact. Read profiles and interviews, and see all the facts and figures for 2022 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. He is among the richest people in Africa who are worth billions ranking among Aliko Dangote, and others. However, less than 3,400 are ultra-high net-worth individuals. The following are Ethiopia's top 20 companies and tax payers for the budget year ending in July 2020: (the amounts are approximate). Following a brain tumor operation in Brussels, Zenawi died from contracting an infection in August 2012. Mamo, who tries to keep a low profile, is regarded as the king of the D.C. gas business. Now that you know what's the richest country in Africa, you can invest in them to grow your wealth and improve their GDP. Eskinder Zewdie is a German-educated engineer that has brought his exceptional civil engineering abilities to his homeland. 9. Barack Obama said that Zenawi deserves recognition for his lifelong contribution to Ethiopias development, particularly to the poor. now scroll down to watch cat videos, Thank me later! Ketema Kebede created the self named KK Plc. 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. Ketema Kebede created the self-named KK Plc. Tekleberhan Ambaye is an industry leader and one of Ethiopia's richest men. 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 Ethiopia, Eskinder has consulted and managed various huge road and bridge projects that are a source of pride for Ethiopians. 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. He has also launched other businesses and philanthropic entities under Sunshine Investment Group. 2023 Billionaires.Africa. However, less than 3,400 are ultra-high-net-worth individuals. Elon Musk, with a fortune of $266 billion, is the richest person on the planet.
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