Its milestones over the past 34 years have enabled it to build a reliable capacity and exhibit practical excellence in the construction sector. 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. Berhane Gebrekiristos. Meles Zenawi wasan Ethiopian politician and businessman born on May 9, 1955, but died on Aug 20, 2012, at age of 57 years old. As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. The California based technology entrepreneur is the Board member and co-founder of . Net Worth: $6.6 billion. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. Through the crafty use of his familys trading background, Ketema began to retail acrylic yarn and other similar items that were in high demand throughout Ethiopia. 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. 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. His businesses produced 1.6% of total U.S. economic output. Free shipping for many products! 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. He is still one of the most influential people in the whole of Ethiopia today. EAH produces over 100 products and provides distribution and logistics services to subsidiary companies and external customers. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. 9. 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Kwabena Duffuor Net Worth - $680 Million. He has amassed hundreds of millions of dollars through his political affiliations and his business dealings through TPLF. 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. That is one reason he has made a lot of connections and made a lot of worth to the countrys economy. Through his legal representative, Ekuru Aukot, Ndungu clarified that the injunction against him and Maina had already expired on Jan. 24, as per the law, and had not been renewed. booming construction industry in Ethiopia. Ethiopiahasonly a few billionaires, more multimillionaires, and 3,200 ultra-high-net-worth individuals. She controls over 50% of the khat market in Ethiopia and is also a leader in global sales of the product. Estimated net worth: $4 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. Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. 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. Omer owns coffee clearing machines, coffee washing stations and plans to start up a coffee plantation. He has also invested in various sectors of business that have made the work simpler for him to gain profits. 1. 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. 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. Ethiopia-born billionaire Mohammed Al-Amoudi. on. His company is now worth 12,000,000 USD or 324,000,000 ETB, making him one of Ethiopia's richest people. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets, and like products. Eric Lefkofsky: He's the founder of Groupon. Follow us too! Upon coming of age, Al Amoudi would travel to the Kingdom of Saudi Arabia and become a citizen of 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). However, his leadership came under serious attack, as he was accused of abusing a string of human rights issues and repressing the freedom of the press/speech. In 2010, she retired from the group, leaving her empire to be managed by her sons. Tekleberhan Ambaye is an industry leader and one of Ethiopias richest men. 8) Larry Page (net worth: $91.5 billion) Larry Page walks by a map of the world during keynote speech at the Consumer Electronics Show in Las Vegas, Nevada, on January 6, 2006. It was not properly convened and did not take place in Tanzania, as per the Companies Act, he emphasized. Top 10 Richest Men In Uganda 2021 What is the richest country in Africa? It is also one of the world's fastest-growing economies. 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. Following the line of work her parents were in, Suhura upon growing older began her own small business khat dealership. The . Wealth Milestones. He's worth $4.5 billion and is the 638th richest person in the world. 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. 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. Akiko's deal with the EEP or Ethiopian Electric Power would make her the first Ethiopian to build a privately owned and operated solar plant in the country. Source:Oil & Gas, Real Estate and Technology. 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. Mohammed Al Amoudi - $8.3 Billion. Ethiopia is home to about 105 million people. He had a net worth of around 12 billion U.S. dollars and ranked 144th worldwide. Ketema Kebede created the self-named KK Plc. 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. Tufaa left Ethiopia for the United States in 1992 and ultimately opened a U.S.-based transportation outfit. 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. The Weeknd - $200 Million. 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. Morocco - $302.77 billion. 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 . A true businessman at heart that rose from humble beginnings to become one of the richest Ethiopians, Ketema Kebede is a true inspiration for all hoping to achieve substantial success. 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. Today, Tashitaa has over 300 trucks and vans, and transports about 15,000 people a day. (Reuters) Larry . Musk, who is also CEO and chief engineer of SpaceX, plans to send the largest rocket ever built into orbit in 2022. 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. 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. 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. The company eventually ceased operations in 2019 due to a government crackdown over alleged tax evasion and concerns about gambling addiction. 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. All this and more, has made Omer Ali Shifaw one of Ethiopia's richest men and a self-made one at that. The youngest person to feature in the list is a 23-year old Shashvat Nakrani who founded the . 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. . . 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. Bill Gates. Sebhat Nega is considered a magnate within the Tigray Peoples Liberation Front (TPLF). A tireless and true businessman, Al Amoudi would also venture into banking, agriculture, cement production, among a dozen other interests. 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. 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. Algeria . Although no longer living, Mohammed Ture's company is run by 6 members of the Ture family. Mamo, who tries to keep a low profile, is regarded as the king of the D.C. gas business. He lives in Glencoe. top ten richest men in nigeria. Samuel Tafesse - $1.6 Billion. 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. 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. He lives in Chicago. 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. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. Mohammed Al Amoudi - $8.3 Billion. The data and graphics were last updated on November 8th, 2021. Eyob Mamo left for the United States in 1981 as a young boy. 7. 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. All Rights Reserved. The billionaire owns Svenska Petroleum, Midroc Europe (a construction and property group) and Preem (his most valuable asset) through the wholly-owned Petroswede AB. Now that you know what's the richest country in Africa, you can invest in them to grow your wealth and improve their GDP. Kanye began his career in the music industry as a producer and he even used to write songs for a few famous and popular . 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. Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands. Nega was in charge of the TPLF business empire under the conglomerate Endowment Fund for the Rehabilitation of Tigray. Late last year, Musk became the first person ever to lose $200 billion in wealth after his net worth slid from some $340 billion in Nov. 2021 to $137 billion in Dec. 2022. He also owns a 17-percent stake in Crunchfish AB, a Swedish technology company that develops gesture recognition. Tekleberhan Ambaye is an industry leader and one of Ethiopia's richest men. Tekleberhan Ambaye (Eng) began his rise to greatness in 1993, registering his self named TACON or Tekleberhan Ambaye Construction Plc., with the initial capital of 5,000 ETB or 185 USD. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria. Berhane Gebrekristos - $2 Billion. In late 2021 his net worth peaked at $137 billion, which made him the third-richest person . 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. Abay Tsehaye - $1.5 Billion. Jeff Bezos. 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. 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. Who is the richest person in Uganda 2021? 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. 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. Jeff Bezos (Net worth: $195.6 billion as of 6th of December 2021) From running a simple e-commerce website in his garage in 1994, to becoming the one of the world's richest billionaires in 2021 . 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. Top 10 Wealthiest/Richest People In Ethiopia In 2023. Ethiopia's First and Largest Blog Network. Having ten children, Suhura planned to retire from her business and go on an extended pilgrimage in 2010, but her 4 eldest sons managed to incur losses of up to 1,000,000 Euros in a short period of time. 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. Nigeria - $1.14 trillion. Ndegwa owns 4.3 percent of NCBA Group, making him one of the banks most significant shareholders. Estimated net worth: $10 billion. Ethiopia has only one billionaire, 150 multimillionaires and 3,200 ultra-high net-worth individuals. As of December 2023, Tewodros Ashenafis net worth is $5 Million, per All Famous Birthday. 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. ALIKO DANGOTE - NW: $21.6 BILLION. Top 10 Richest People in the World. 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 closest and most trusted friend of Meles and Azeb. The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials, and maximum comfort. Samuel Tafesse - $1.6 Billion. 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 10. By comparison, Elon Musk, at over $304 billion, still has a little ways to go just yet. Who are the richest celebrities in Ethiopia in 2023? Expanding legalization has driven an increase in bets on football's big game, with wagers more than doubling from 2021 to 2022. 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. The world's 10 richest people added $402 billion to their fortunes in 2021. He was one of the closest to the dictator Meles and his wife Azeb Mesfin. The market value of Muriukis two-percent stake in Co-op Bank is now worth Ksh1.48 billion ($11.7 million). 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. In addition to this, Tewodros would become the Chairman and CEO of SouthWest Energy, the first and only local oil and gas organization. Berhane Gebrekristos - $2 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. Ketema Kebede created the self named KK Plc. As a major shareholder of Tsehay Industry and Tsehay Insurance Share Company, Belayneh would have vast control in Ethiopia's manufacture of LTZ, sheet metal, etc. Add to this innovativeness and the ability to make something from nothing, and you have the recipe that makes the following list of the richest Ethiopians. began its explosive rise as one of Ethiopias largest business enterprises. In 2011, her group recorded sales of between 30 and 40 tonnes of khat per day. The company he registered, Sunshine Construction Limited, would one day grow to become the behemoth of construction it is today in Ethiopia. He is the richest drug lord in Africa with a long criminal history of selling illegal drugs. Source: Oil & Gas, Real Estate and Technology. 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. June 6, 2022 . 4. He is extremely influential in the country. Ndegwas stake in NCBA has dropped by Ksh219.82 million ($2.39 million) as a result of the recent decline in the banks share price, from Ksh2.82 billion ($22.85 million) at the start of the year to Ksh2.6 billion ($20.46 million) at the time of writing this report. in 1976, as a mere youth. After 22 years away from his homeland, Ermias would return with his experience in Wall Streets stock exchange and start innovative businesses in Ethiopia. Al-Amoudis fortune is derived mainly from closely held companies in Sweden, Saudi Arabia and Ethiopia. 2023 Billionaires.Africa. In 2011, Capitol Petroleum Group was valued at $800 million, making him one of the wealthiest businessmen in Ethiopia with an estimated net worth of $2.5 billion. 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. With an estimated fortune of $131bn (99bn) he is the . New interactive and fun video sessions with influencers and celebrities every thursday on thedistin Youtube Channel every week and more now scroll down to watch cat videos, Thank me later! 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. This includes the landmark Marriott Executive Apartments in Addis Ababa. 1. Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. Focusing his efforts on employee improvement, good management, and tight credit controls, BKIE soon began to expand to various other sectors. China. The privately-owned company founded in Minnesota now has more than 300 trucks and vans and transports about 15,000 people a day.
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