In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets and like products. 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. Ketema would begin to import and sell goods, export agricultural products, and distribute locally produced goods throughout Ethiopia. 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. His company Dangote Group is currently on an expansion drive to many other African countries. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. Mohammed Hussein Al Amoudi was born in Ethiopia in 1946 to a Hadhrami father and an Ethiopian mother. He is extremely influential in the country. 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. The privately-owned company founded in Minnesota now has more than 300 trucks and vans and transports about 15,000 people a day. 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. 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! Eskinder's obsession with quality has changed the way several construction companies operate in Ethiopia. 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. Its milestones over the past 34 years have enabled it to build a reliable capacity and exhibit practical excellence in the construction sector. She is the Widow of the late Prime Minister Meles Zenawi, she has ownership interests in many of the biggest companies in Ethiopia. For some context, . He was listed on Forbes as the 67th richest man in Africa and the 183rd in the world. 3. In 2016, Ashenafi played a vital role in one of Africas largest private-sector business transactions. He's worth $4.3 billion and is the 665th richest person in the world. It is also one of the world's fastest-growing economies. 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. By 2008, Suhura would pay 37,000,000 USD or 999,000,000 ETB in taxes to the Ethiopian government. A tireless and true businessman, Al Amoudi would also venture into banking, agriculture, cement production, among a dozen other interests. Although no longer living, Mohammed Ture's company is run by 6 members of the Ture family. $180 Billion. Young Rich List wealth takes $11b hit after tech plunge. 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. Sebhat Nega - $2 Billion. Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. His power in the Ethiopian cabinet along with the airlines helped him smuggle a lot of drugs within Africa and Asia. Stanbic Bank is the largest commercial bank in Uganda with assets more than UGX 5.4 trillion. EAH produces over 100 products and provides distribution and logistics services to subsidiary companies and external customers. 11 . Algeria . He would soon feel threatened by his political affiliations and move to the United States in 1992, as a refugee. Dangote is the richest person in Africa and the only African on the list of top 50 richest in the world. 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 . All Rights Reserved. Its estimated population is 99,202 people, its 2021 GDP was USD 1.45 billion, and its GNI per capita was 29,800. 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. 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. 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. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets, and like products. What is the richest country in Africa? coffee export, and coffee roasting and packing. 91. 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. Eskinder Zewdie is a German educated engineer that has brought his exceptional civil engineering abilities to his homeland. She is the widow of the late dictator Meles. Eyob Mamo left for the United States in 1981 as a young boy. 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. Sebhat Nega is considered a magnate within the Tigray Peoples Liberation Front (TPLF). 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. The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials, and maximum comfort. The shares from the company have made her present estimated worth of about $1.5 billion. Jamel Toppin . Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire. Working closely with the Chinese, he has been praised for not letting any shoddy construction works pass. The list of richest Indians by net worth based on an annual assessment of wealth and assets compiled and published by Forbes magazine. He also owns a 17-percent stake in Crunchfish AB, a Swedish technology company that develops gesture recognition. Belayneh Kindie. Richest African Countries by GDP. 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. By 2006, Belayneh entered the transport business by establishing the BKPT or Belayneh Kindie Private Transport, with six 40 ton carrying trucks. Patrick T. Fallon/Bloomberg. He's worth $4.5 billion and is the 638th richest person in the world. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. As of November 2022, Aliko Dangote was the richest man in Africa. Ethiopia - $298.57 billion. 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. The group has grown into one of the countrys largest employers, employing more than 6,000 permanent and temporary personnel. With an estimated fortune of $131bn (99bn) he is the . 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. He was also a member of the committee for the Endowment Fund For Relief Of Tigray. Advertisement. His businesses produced 1.6% of total U.S. economic output. Samuel Tafesse - $1.6 Billion. He lives in Chicago. Through this substantial amount of funding, Co-op Bank is poised to provide much-needed support to micro, small, and medium enterprises (MSMEs) while simultaneously positioning the bank for future growth. This is a 120 kilometre (75 mile) strip of land which lies between the . Top 10 Richest Men In Uganda 2021 Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire. The highest and the lowest net worth. Eskinder has also been awarded by the Ethiopian Roads Authority (ERA) and Addis Ababa City Roads Authority (AACRA) for being one of the best engineers benefiting Ethiopia. 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. 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. 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. What is Mohammed Al Amoudis net worth? 2. June 6, 2022 . He was a part of the diplomatic works that were used by the dictator for money laundering. Alemu founded soleRebels as a way to blend her Ethiopian communitys creative artisan talents with the traditional barabasso (Ethiopian recycled tire) shoe. 1960: Pete Seeger at Bowdoin College in Brunswick, Maine . Mark Zuckerberg's net worth topped $100 billion for the first time on August 7, 2020. This billion dollar deal is Ethiopia's largest ever privatization agreement. Here's whose net worth grew the most. August 24, 2021. Abay Tsehaye - $1.5 Billion. Azeb Mesfin - $4 Billion. Notably, Norfund revealed that a subordinated loan of $19.4 million was channeled through the European Financing Partners, a joint venture between the European Investment Bank (EIB) and several other European funds. 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. Africa is home to some of the wealthiest people in the world. She controls over 50% of the khat market in Ethiopia and is also a leader in global sales of the product. Working closely with the Chinese, he has been praised for not letting any shoddy construction works pass. Following the line of work her parents were in, Suhura upon growing older began her own small business khat dealership. 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. Eskinder has also been awarded by the Ethiopian Roads Authority (ERA) and Addis Ababa City Roads Authority (AACRA) for being one of the best engineers benefiting Ethiopia. Mamo, who tries to keep a low profile, is regarded as the king of the D.C. gas business. What is the net worth of Ethiopia? Seyoum Mesfin - $1.8 Billion. $92.413 billion (nominal, 2021 est.) 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. 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. 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. The closest and most trusted friend of Meles and Azeb. 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. Tufaa left Ethiopia for the United States in 1992 and ultimately opened a U.S.-based transportation outfit. Elon Musk. Source: Oil & Gas, Real Estate and Technology. Seeing this unfortunate management crisis, Suhura returned to the helm of the business. 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. Mamo is the CEO of the D.C.-based group. Ethiopia is home to about 105 million people. 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. Mamo is the CEO of the D.C.-based group. He was named as Ethiopia's richest man, the 2nd richest black person in the world, and the 2nd richest Saudi Arabian, all this proves that Mohammed Al Amoudi has earned the title of tycoon. 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. 2021 Power 100; 2020 Power 100; 2019 Power 100; 2018 Power 100; 2017 Power 100; Leads & Data Center. Nigeria has the highest GDP, but Seychelles has the highest GNI per person. He has amassed hundreds of millions of dollars through his political affiliations and his business dealings through TPLF. Ethiopia has only one billionaire, 150 multimillionaires and 3,200 ultra-high net-worth individuals. . 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. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopias richest a billionaire. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria. Copyright 2023 allaboutETHIO.com All Rights Reserved. The market value of Muriukis two-percent stake in Co-op Bank is now worth Ksh1.48 billion ($11.7 million). It ranks fourth for private wealth held by individuals. 2023 Billionaires.Africa. 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 ISO. Although no longer living, Mohammed Tures company is run by 6 members of the Ture family. 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. Source: Oil & Gas, Real Estate and Technology. top 100 richest person in ethiopia 2021. by . After completing his education, Duffuor made the highly lucrative move into banking. However, she returned to manage her business after the group incurred losses of up to 1 million within a short period. 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 . He had a net worth of around 12 billion U.S. dollars and ranked 144th worldwide. Alemu founded soleRebels as a way to blend her Ethiopian communitys creative artisan talents with the traditional barabasso (Ethiopian recycled tire) shoe. Furthermore, Akiko's OBG also engages in construction machinery rental, spas, gyms, and logistical works. The total valuation of Australia's 100 richest people aged 40 and under is diminished, but you still need $35 million to get on the list . 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. 2. In 2011, Capitol Petroleum Group was valued at $800 million, making him one of the wealthiest businessmen 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. As of 31 December 2020, the banks assets were valued at Shs8. 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. 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. Top 10 Richest People In New Zealand and Their Net Worth 2022. 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. 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). February 6, 2023. 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. 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. 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. 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 one of the closest to the dictator Meles and his wife Azeb Mesfin. The company he registered, Sunshine Construction Limited, would one day grow to become the behemoth of construction it is today in Ethiopia. Bill Gates. Top 20 Richest People In Pakistan and Their Net Worth 2022. Who is a successful entrepreneur in Ethiopia? Bethlehem Tilahun Alemu is an Ethiopian businesswoman and founder and executive director of soleRebels, an international footwear company based in Addis Ababa. Kwabena Duffuor Net Worth - $680 Million. 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. 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. 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 . Kanye West has made it to the top of the list this year by beating Jay-Z. Ashenafi is a co-owner of Ambo Mineral Water, the best-selling naturally-carbonated bottled mineral water in Ethiopia, and the beverage giant SABMiller. 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. In Ethiopia, Eskinder has consulted and managed various huge road and bridge projects that are a source of pride for Ethiopians. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. The billionaire owns Svenska Petroleum, Midroc Europe (a construction and property group) and Preem (his most valuable asset) through the wholly-owned Petroswede AB. list of the billionaires and millionaires in Ethiopia. began its explosive rise as one of Ethiopia's largest business enterprises. 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. Beginning with only the import of items to satisfy the local demand, Omer would in 1995 expand to engage deeply within the coffee business. When thinking about the richest people in Ethiopia, the name Ali Al Amoudi will always come up in the minds of almost all Ethiopians. Expanding legalization has driven an increase in bets on football's big game, with wagers more than doubling from 2021 to 2022. Up next with a net worth of $680 million is Kwabena Duffuor. 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. He has been chairman of Ethiopian Airlines. 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.
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