Search by Location. 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. Top 10 Richest African Countries by Overall GDP (INT$ at PPP International Monetary Fund 2021) Egypt - $1.38 trillion. 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. As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. The company has been operating in Ethiopia for over 60 years now and is respected throughout for its competence. Eyob "Joe" Mamo. Rich List 2022 is our definitive guide to the wealth of the UK's richest people. Algeria . 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. During the period when Pevans East Africa operated the SportPesa brand, Ndungu, a reclusive business leader who is a significant shareholder and non-executive director of Life Care Medics, received Ksh1.3 billion ($11.1 million) from the company until it ceased operations in June 2019. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest . 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. Egypt - $394.28 billion. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire. 8. 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 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. This year, War, pandemic and sluggish markets hit the world's billionaires whose number drop by 87 to 2,668 on Forbes' annual ranking of the planet's richest people. Mohammed Al Amoudi, son of a Saudi father and an Ethiopian mother is Ethiopia's richest man businessman. Who is the richest man in Ethiopia in 2022? 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. 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. The top 10 richest people on the planet have a combined net worth of $1.4 trillion. Musk might hold the current title of the richest person in the world, but he also holds a record for the biggest fortune ever lost by anyone in history. As a result, Ndungu and Maina, who had a combined 38-percent stake in the now-defunct holding company, will not receive any compensation for their investments. He was previously a member of the politburo of TPLF and was close to the dictator. Abay Tsehaye - $1.5 Billion. 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. Tewodros Ashenafi born in 1969 is a highly educated and enterprising individual that has brought significant changes in the Ethiopia's energy sector. Ethiopiahasonly a few billionaires, more multimillionaires, and 3,200 ultra-high-net-worth individuals. Kenya - $269.29 billion. For various reasons, such as political, economic, etc., Ethiopians are spread out as Diaspora all over the globe. Who is the first billionaire in Ethiopia? According to Wikipedia, he began his career at Ghana Commercial Bank in 1969. In the biggest companies and industries, she is a stakeholder and thus she has an estimated worth of $4 billion combining the worth of the dictator and all that she got out of the interests of the companies. Ethiopia has a great environment for coffee cultivation. This includes the landmark Marriott Executive Apartments in Addis Ababa. Amazon founder Jeff Bezos is the richest man in the world, according to the 2019 Forbes billionaires' list released this week. Kanye West has made it to the top of the list this year by beating Jay-Z. 100+ Richest People In The World [RANKED] Net Worth & Eanrings Background & Bio's How They Made Their Fortunes Top Billionaires Fun Facts Pics More . Mohammed Al Amoudi - $8.3 Billion. 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. The enterprising Eyob buys his gas from refiners and then sells it to the operators of the stations he owns. Here is a list of the billionaires and millionaires in Ethiopia in 2023. . He was a part of the diplomatic works that were used by the dictator for money laundering. We could have simply put together a list of New Jersey's wealthiest people, but NJBIZ . The market value of Muriukis two-percent stake in Co-op Bank is now worth Ksh1.48 billion ($11.7 million). The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials and maximum comfort. 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 . Now that you know what's the richest country in Africa, you can invest in them to grow your wealth and improve their GDP. He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. Net Worth: Top 25 Famous, Richest Actors In Nigeria In 2023 (Highest-Paid Nigerian Nollywood Actors), Net Worth: Top 20 Richest Footballers In Africa In 2023, Their Names, Ages, Country, Forbes, Cars, Houses, Pictures, Etc, Accurate List: Top 10 Best Rappers In Africa In 2023; Their Names, Countries, and Rank, Net Worth: Top 10 Richest Rappers In Africa In 2023 (Highest-Paid African Rappers By Forbes), Net Worth: Top 10 Youngest Richest Men In Ghana In 2023 That Live Lavish Lifestyles, Ghanaian Fraud Boys: Top 10 Richest Scammers In Ghana In 2023; Their Net Worth, Names, Ages, Pictures, Net Worth: Top 20 Richest Musicians In Ghana In 2023 Most Successful Ghanaian Artists Now. As many as five Africans feature in the Bloomberg Billionaires Index 2021 of the world's 500 wealthiest people. February 6, 2023. By 2008, Suhura would pay 37,000,000 USD or 999,000,000 ETB in taxes to the Ethiopian government. 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. in 1976, as a mere youth. Ketema would begin to import and sell goods, export agricultural products, and distribute locally produced goods throughout Ethiopia. By 1998, Omer's Nejat International had sales valuing at 198,000,000 ETB or 7,400,000 USD and owned the largest warehouse in Ethiopia with all the latest machineries. The closest and most trusted friend of Meles and Azeb. 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. 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. The group has grown into one of the countrys largest employers, employing more than 6,000 permanent and temporary personnel. For some context, . 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 California based technology entrepreneur is the Board member and co-founder of . 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. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets, and like products. The data and graphics were last updated on November 8th, 2021. Furthermore, Akikos OBG also engages in construction machinery rental, spas, gyms, and logistical work. 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. The 10 Richest Individuals in Ethiopia ===== Even though Ethiopia is classified as one of the developing countries in the world. Ethiopia is home to over 122 million people, per Worldometer. That is one reason he has made a lot of connections and made a lot of worth to the countrys economy. Jamel Toppin . Read profiles and interviews, and see all the facts and figures for 2022 2 weeks ago. Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. With lucrative government contracts and the ability to successfully complete them, his German company reached great heights. In late 2021 his net worth peaked at $137 billion, which made him the third-richest person . 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. Before starting his company in Ethiopia, Eskinder had already become a success in Germany. 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. 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. After completing his education, Duffuor made the highly lucrative move into banking. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets and like products. Mohammed Al Amoudi born in 1946 to an Ethiopian mother of Wollo Amhara descent and a Hadhrami Yemeni father is an Ethiopian and Saudi Arabian citizen. It ranks fourth for private wealth held by individuals. They have such an amount of money because of connections with the countrys politics and a stable business that takes the supplies from the country and sends them to other places. However, less than 3,400 are ultra-high net-worth individuals. He's worth $4.3 billion and is the 665th richest person in the world. Alemu founded soleRebels as a way to blend her Ethiopian communitys creative artisan talents with the traditional barabasso (Ethiopian recycled tire) shoe. Mohammed Hussein Ali Al Amoudi is an Ethiopian-Saudi billionaire businessman, who owns and controls many big industrial assets in Sweden, Saudi Arabia, and Ethiopia.He was born in Ethiopia, in 1946, to a Saudi father and an Ethiopian mother. 2. 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. He chose Minneapolis, a city in the northern part of the state of Minnesota to settle in. 15. The four-bedroom, double-story house in Gigiri is being sold through Garam Auctioneers, a well-established Kenyan auction house with more than 28 years of experience in the retail industry. His company, the Dangote group started as a small trading firm in 1977. Al-Amoudis fortune is derived mainly from closely held companies in Sweden, Saudi Arabia and Ethiopia. His net worth at present is $500 million. Eskinders obsession with quality has changed the way several construction companies operate in Ethiopia. Sebhat Nega - $2 Billion. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopias richest a billionaire. 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 . 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. He was previously in the position of foreign affairs minister where he had a lot of power over trade. The company he registered, Sunshine Construction Limited, would one day grow to become the behemoth of construction it is today in 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. 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). 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. This billion-dollar deal is Ethiopias largest-ever privatization agreement. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria. began its explosive rise as one of Ethiopia's largest business enterprises. From Nigeria, he is the founder and . 1. Unfortunately, after five years of running the business, he would be placed in jail by the Derg military government for long years. 4. Estimated net worth: $10 billion. He was one of the closest to the dictator Meles and his wife Azeb Mesfin. 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. 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. Elon Musk. 2. He also owns a 17-percent stake in Crunchfish AB, a Swedish technology company that develops gesture recognition. 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. 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. 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. 10. 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. Heading into 2022, the 10 wealthiest individuals in the world are all worth . Samuel Tafesse embodies the rags to riches story, as he has grown his company to be one of the largest construction companies in Ethiopia. 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. 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. 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 2021, the respective headliners were Kendrick Lamar, Tyler, the . Free shipping for many products! Ronald Karauri, who made the announcement, revealed that Pevans is facing a staggering Ksh14.3 billion ($114.7 million) in negative equity. Nega was in charge of the TPLF business empire under the conglomerate Endowment Fund for the Rehabilitation of Tigray. 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. 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. Mohammed Al Amoudi - $8.3 Billion. 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. right away. Top 10 Richest People In New Zealand and Their Net Worth 2022. 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 list of Ethiopia's richest models, actors, musicians, businessmen, politicians, producers, footballers, athletes, Instagram influencers, and entrepreneurs are also the most famous and best-known Ethiopian celebrities both in Ethiopia and internationally. His net worth climbed to $16 billion in 2021, according to Forbes, up from $12.1 billion in 2020 . 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. 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). The shares from the company have made her present estimated worth of about $1.5 billion. what is the recommended ratio for lifeguard to swimmer Companies run by Buzayehu include: 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., East African Real Estate Development Plc., National Transport Plc., National Premix Construction Plc., Hamaressa Edible Oil S.C., and Distribution Outlets (over 21 located throughout Ethiopia). 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. This business guru holds a net worth of $12.5 Billion. Top 10 RICHEST People in Ethiopia 2021 | Rich and Famous TV Subscribe Here: https://bit.ly/3exoQBy. He is still one of the most influential people in the whole of Ethiopia today.
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