Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. 6. Here's whose net worth grew the most. 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. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopias richest a billionaire. He lives in Glencoe. Co-operative Bank Group (Co-op Bank), a Nairobi-based financial services group led by Kenyan banking magnate Gideon Muriuki, has successfully secured a total of $100 million in long-term debt from global institutional investors, with the German fund DEG and the Norwegian fund Norfund at the helm. Ndungu is a prominent Kenyan businessman and shareholder in Pevans East Africa. 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. 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. The data and graphics were last updated on November 8th, 2021. began its explosive rise as one of Ethiopia's largest business enterprises. Who are the richest celebrities in Ethiopia in 2023? 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. This company would be supplemented with SouthWest Development which gives services to companies engaged in the oil and gas industry in Ethiopia. Tufaa left Ethiopia for the United States in 1992 and ultimately opened a U.S.-based transportation outfit. Mukesh Ambani the chairman and largest shareholder of Reliance Industries, has been the richest Indian for 13 consecutive years. Despite ranking only 29th in Africa by living standards and economic wealth, Ethiopia is a land of riches for thousands. Gerelta Business Plc. 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. The company has been operating in Ethiopia for over 60 years now and is respected throughout for its competence. Mohammed Al Amoudi, the son of a Saudi father and an Ethiopian mother is Ethiopias richest businessman. Eyob Mamo left for the United States in 1981 as a young boy. Mamo, who tries to keep a low profile, is regarded as the king of the D.C. gas business. Jamel Toppin . She is the widow of the late dictator Meles. 11 . 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. Even though Ethiopia is classified as one of the developing countries in the world there are still rich people who are are living and enjoying life like the . 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 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. 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. 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. 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. Angola - $217.97 billion. Eskinder's obsession with quality has changed the way several construction companies operate in Ethiopia. 3. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. 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. 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. Thus the production of coffee is a perfect business that Omer Ali Shifaw set up there. This billion dollar deal is Ethiopia's largest ever privatization agreement. 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). With such a massive penetration of Ethiopia's largest industries, Buzayehu Bizenu is nothing short of an Ethiopian billionaire, mogul and one of Ethiopia's richest. 1. Jeff Bezos. 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. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. 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. 2 weeks ago. Source: Oil & Gas, Real Estate and Technology. 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. Sebhat Nega is considered a magnate within the Tigray Peoples Liberation Front (TPLF). The 10 Richest Individuals in Ethiopia ===== Even though Ethiopia is classified as one of the developing countries in the world. This business guru holds a net worth of $12.5 Billion. The world's 10 richest people added $402 billion to their fortunes in 2021. Seeing this unfortunate management crisis, Suhura returned to the helm of the business. 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. In 2016, Ashenafi played a vital role in one of Africas largest private-sector business transactions. For various reasons, such as political, economic, etc., Ethiopians are spread out as Diaspora all over the globe. richest nigerian in houston. A tireless and true businessman, Al Amoudi would also venture into banking, agriculture, cement production, among a dozen other interests. $288.56 billion (PPP, 2021 est.) 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). 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). Meles Zenawi wasan Ethiopian politician and businessman born on May 9, 1955, but died on Aug 20, 2012, at age of 57 years old. 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. 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. Young Rich List wealth takes $11b hit after tech plunge. Below is a list of the top 20 richest Ethiopians in 2022. The six-percent stake would make him the latest in a slew of new minority partners that the U.S. soccer franchise has added in recent years. He was a part of the diplomatic works that were used by the dictator for money laundering. Up next with a net worth of $680 million is Kwabena Duffuor. Below is a list ofthe top 20 richest Ethiopians in 2023. If we simply consider a nation's gross domestic productthe sum of all goods and services produced by a country during one yearthen we would have to conclude that the richest nations are exactly the ones with the largest GDP: United States, China, Japan, Germany. Tufaa left Ethiopia for the United States in 1992 and ultimately opened a U.S.-based transportation outfit. As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. Kenyan businessman Andrew Ndegwas stake in NCBA Group has declined in the past 59 days due to the depreciation of the Kenyan shilling and selling pressures on the Nairobi Securities Exchange, which have impacted the valuation of the Nairobi-based financial services provider. Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. However, she returned to manage her business after the group incurred losses of up to 1 million within a short period. 2023 Billionaires.Africa. As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. June 6, 2022 . As of 2016, soleRebels shoes were sold in more than 50 countries after it was tagged the Fastest Growing African Shoe Brand in 2014. Tewodros Ashenafi Tewodros Ashenafi is a famous Entrepreneur, born on August 26, 1969, in Ethiopia. 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. He has been chairman of Ethiopian Airlines. Meles Zenawi is the former Prime Minister of Ethiopia. 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 . The company he registered, Sunshine Construction Limited, would one day grow to become the behemoth of construction it is today in Ethiopia. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. 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. Top 20 Richest People In Pakistan and Their Net Worth 2022. Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. 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. The enterprising Samuel would land a job as a construction worker upon completing high school and go on to study engineering at Addis Ababa University. Tekleberhan Ambaye is an industry leader and one of Ethiopias richest men. 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. He is a really trusted apprentice to the dictator and even now he is a partner of Azeb Mesfin in various businesses. The highest and the lowest net worth. Elon Musk. Following the line of work her parents were in, Suhura upon growing older began her own small business khat dealership. He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. One of the factors contributing to . Thomas Pritzker: He is the heir to and executive chairman of the Hyatt hotel chain. Since the company is facing competitors the business has decreased making enough profit like before. 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. 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. 5. He was one of the closest to the dictator Meles and his wife Azeb Mesfin. Samuel Tafesse's company now engages in large-scale road and bridge projects, large scale real estate developments, the building of residential properties, hotel and commercial building construction. The billionaire owns Svenska Petroleum, Midroc Europe (a construction and property group) and Preem (his most valuable asset) through the wholly-owned Petroswede AB. This billion-dollar deal is Ethiopias largest-ever privatization agreement. right away. Fv 27, 2023 . Read profiles and interviews, and see all the facts and figures for 2022 Always looking to grow, Belayneh would spend a further 600,000,000 ETB or 23,000,000 USD to acquire a 40,000 sqm plot of land in Bahir Dar to build a 5 star resort and hotel. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. Elon Musk, with a fortune of $266 billion, is the richest person on the planet. When thinking about the richest people in Ethiopia, the name Ali Al Amoudi will always come up in the minds of almost all Ethiopians. 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. 2. By 2008, Suhura would pay 37,000,000 USD or 999,000,000 ETB in taxes to the Ethiopian government. 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 many as five Africans feature in the Bloomberg Billionaires Index 2021 of the world's 500 wealthiest people. He lives in Chicago. Richard Schulze (conceived January 1941) is the organizer and previous executive and CEO of Best Buy. 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. 91. He has also invested in various sectors of business that have made the work simpler for him to gain profits. Mohammed Hussein Al Amoudi was born in Ethiopia in 1946 to a Hadhrami father and an Ethiopian mother. We could have simply put together a list of New Jersey's wealthiest people, but NJBIZ . Stanbic Bank is the largest commercial bank in Uganda with assets more than UGX 5.4 trillion. A significant percentage of the countrys richest individuals are politicians. Although no longer living, Mohammed Ture's company is run by 6 members of the Ture family. 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. ALIKO DANGOTE - NW: $21.6 BILLION. Amidst a legal dispute with fellow shareholders in Pevans East Africa, Ndungu and another shareholder, Asenath Wachera Maina, were removed from their positions in Pevans East Africa following a special resolution. From there, he would buy oil refineries in Morocco and Sweden, engage in oil exploration off West Africa, open one of Africa's best hotels (Sheraton Addis), finance a factory to build Saudi's first car, begin gold mining, steel production, tire production and enter the oil market in Ethiopia. Source:Oil & Gas, Real Estate and Technology. Mohammed AL Amoudi is one of the richest people in Ethiopia, as a matter of fact, Mohammed AL Amoudi was named the richest and the most extremely wealthy person in Ethiopia. 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. 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! View profiles for each of the world's 500 richest people, see the biggest movers, and compare fortunes or track returns. He had a net worth of around 12 billion U.S. dollars and ranked 144th worldwide. Ashenafi is a co-owner of Ambo Mineral Water, the best-selling naturally-carbonated bottled mineral water in Ethiopia, and the beverage giant SABMiller. It made her the top 10 richest people and the #1 richest woman in the world. He chose Minneapolis, a city in the northern part of the state of Minnesota to settle in. Ethiopia-born billionaire Mohammed Al-Amoudi. Ketema Kebede created the self named KK Plc. The bank first operated in Uganda as the National Bank of India in 1906. Having been enthralled with the little he had seen in the construction business, Samuel would borrow 10,000 ETB or 370 UDS to get a construction license in 1986. (Sponsored Content) Published. He has made a lot of profit in this business in the past few years and his estimated worth at present is $1.8 billion. According to Wikipedia, he began his career at Ghana Commercial Bank in 1969. 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.