With lucrative government contracts and the ability to successfully complete them, his German company reached great heights. 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. Al-Amoudis fortune is derived mainly from closely held companies in Sweden, Saudi Arabia, and Ethiopia. He serves as chairman of SouthWest Development, a leading player in Ethiopias oil and gas sector and the provider of various services to oil and gas companies. 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. Al Amoudi would begin his journey to astronomical wealth by venturing in the fields of construction and real estate. Azeb Mesfin - $4 Billion. Mamo, who tries to keep a low profile, is regarded as the king of the D.C. gas business. Ronald Karauri, who made the announcement, revealed that Pevans is facing a staggering Ksh14.3 billion ($114.7 million) in negative equity. 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. In 2011, her group recorded sales of between 30 and 40 tonnes of khat per day. Who is the richest company in Uganda? Upon coming of age, Al Amoudi would travel to the Kingdom of Saudi Arabia and become a citizen of the country. 3. Bethlehem Tilahun Alemu is an Ethiopian businesswoman and founder and executive director of soleRebels, an international footwear company based in Addis Ababa. Not only one of Ethiopia's richest and a billionaire, but Samuel is also a role model representing what hard work and honesty can bring into one's life. He is still one of the most influential people in the whole of Ethiopia today. what is the recommended ratio for lifeguard to swimmer He chose Minneapolis, a city in the northern part of the state of Minnesota to settle in. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopias richest a billionaire. was soon created in 2008, to strengthen and expand Belayneh's import and export businesses. 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. What is Mohammed Al Amoudis net worth? Follow us too! He was 57. Free shipping for many products! Her bouncy curls and sharp facial features make her one of the most prominent entries on this list . His sibling Naguib . He was also heavily involved in the US War on Terror, helping to eliminate military organisations such as Al Qaeda. 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. 7. Brian Shuel // Getty Images. 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. 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. 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. Suhura Ismail Khan was born in the 1960's in the Somali region city of Jijiga in the eastern part of Ethiopia. 8. 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. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire. 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. 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. With an estimated fortune of $131bn (99bn) he is the . The list of richest Indians by net worth based on an annual assessment of wealth and assets compiled and published by Forbes magazine. Here is a list of the billionaires and millionaires in Ethiopia in 2023. Africa is the second largest continent in the world in terms of land area and population. 11 . As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. Before becoming the prime minister of his native country, Zenawi was the president of Ethiopia in the nineties (from 1991 to 1995). Select Page. Ethiopia is home to over 122 million people, per Worldometer. Jimoh Ibrahim - $1.1 billion. 1. 15. However, less than 3,400 are ultra-high-net-worth individuals. . Berhane Gebrekristos - $2 Billion. Barack Obama said that Zenawi deserves recognition for his lifelong contribution to Ethiopias development, particularly to the poor. 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. Mohammed Al Amoudi - $8.3 Billion. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. He has been chairman of Ethiopian Airlines. The company he registered, Sunshine Construction Limited, would one day grow to become the behemoth of construction it is today in Ethiopia. Here's whose net worth grew the most. This land would be supplemented with an additional 1,500 hectares of land by the government of the Southern Nations, Nationalities and Peoples. 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. Furthermore, Akikos OBG also engages in construction machinery rental, spas, gyms, and logistical work. 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). Buzayehu T. Bizenu is the founder of East African Holding Share Company (EAH S.C.), a huge conglomerate of companies operating in almost all the large business sectors of Ethiopia. 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. 9. 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. 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 . He lives in Chicago. Samuel Tafesse is one of the most famous businessmen in Ethiopia. All this and more, has made Omer Ali Shifaw one of Ethiopia's richest men and a self-made one at that. Age: 55 years (as of 2023) Source of wealth: Investments in hospitality, insurance, transportation, oil, gas, and real estate. Khan controls more than 50 percent of khat sales in Ethiopia, making it a world market leader. Who is the second richest person in Ethiopia. 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. 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. Kenya - $269.29 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. Although no longer living, Mohammed Tures company is run by 6 members of the Ture family. Andrew Ndegwa, a Kenyan businessman and executive director of First Chartered Securities Limited, owns 4.3 percent of NCBA Group, making him one of the banks most significant shareholders. 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. 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 company has been operating in Ethiopia for over 60 years now and is respected throughout for its competence. 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). All in all, Belayneh Kindie, an Ethiopian billionaire and one of Ethiopia's richest, is a titan of business, with his successful enterprises ranging from hotels, import/export, transport, rental, manufacturing, agriculture, etc. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. 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. 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. 9. 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. Elon Musk. Estimated net worth: $10 billion. All Rights Reserved. Furthermore, a deal with Globelq to create a solar park with 100MW is being negotiated. 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. 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). He would start the ardous climb to success by working various jobs, sometimes three at a time. 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. 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. As of November 2022, Aliko Dangote was the richest man in Africa. 15 of the Richest Ethiopians and their Successful Companies in 2021-----. According to research conducted by Billionaires.Africa. A tireless and true businessman, Al Amoudi would also venture into banking, agriculture, cement production, among a dozen other interests. 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. . Mamo is the CEO of the D.C.-based group. He has amassed hundreds of millions of dollars through his political affiliations and his business dealings through TPLF. Nega was one of the most powerful men in Ethiopia. The top 10 richest people on the planet have a combined net worth of $1.4 trillion. A billionaire in his own right, Tewodros Ashenafi, one of Ethiopia's richest, is without a doubt, a significant contributor to the current explosive growth of Ethiopia. Top 10 Richest African Countries by Overall GDP (INT$ at PPP International Monetary Fund 2021) Egypt - $1.38 trillion. Azeb Mesfin. Forbes places Mohammed Al Amoudis fortune at $8.1 billion as of 2017. The youngest person to feature in the list is a 23-year old Shashvat Nakrani who founded the . South Africa - $861.93 billion. At the time, John D. Rockefeller was the richest person in the worldworth roughly $285 billion in today's terms. 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. on. 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. By2016, Tewodros would play a vital role in one of Africa's largest private sector business transactions. He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. The Ethiopian men and women who have spearheaded the country's phenomenal growth stem from various backgrounds, ethnicities, and religions. coffee export, and coffee roasting and packing. Nigeria - $1.14 trillion. According to Wikipedia, he began his career at Ghana Commercial Bank in 1969. Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands. Before starting his company in Ethiopia, Eskinder had already become a success in Germany. Unfortunately, after five years of running the business, he would be placed in jail by the Derg military government for long years. Net Worth: $6.6 billion. 2 weeks ago. She has her own business and owns shares in various companies around Ethiopia. His net worth at present is $500 million. In 2011, her group recorded sales between 30 and 40 tonnes of khat per day. 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. 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. Nigeria - $514.05 billion. 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. $113 . 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. In 2010, she retired from the group, leaving her empire to be managed by her sons. A significant percentage of the countrys richest individuals are politicians. Estimated net worth: $4 billion. South Africa - $329.53 billion. The closest and most trusted friend of Meles and Azeb. Patrice Motsepes TymeBank partners with The Foschini Group, eyes 26 million South African customers, Runa Alams DPI closes African Development Partners III Fund at $900 million, exceeding $800-million benchmark, Adidas faces $10-million loss as Beyonces Ivy Park fails to meet expectations. 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. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets and like products. It made her the top 10 richest people and the #1 richest woman in the world. 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. 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 $1 billion in revenues by 2028. now scroll down to watch cat videos, Thank me later! For various reasons, such as political, economic, etc., Ethiopians are spread out as Diaspora all over the globe. Mohammed Al Amoudi born in 1946 to an Ethiopian mother of Wollo Amhara descent and a Hadhrami Yemeni father is an Ethiopian and Saudi Arabian citizen. Jeff Bezos of Amazon, the richest one of the world from the US has a net worth of US$ 140 bn. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest . Let us now get into the list of the 20 richest rappers in the world as of 2022 with their net worth details. Berhane Gebrekristos present estimation of net worth is about $2 billion but his real worth previously was even more than this. View profiles for each of the world's 500 richest people, see the biggest movers, and compare fortunes or track returns. Meles Zenawi wasan Ethiopian politician and businessman born on May 9, 1955, but died on Aug 20, 2012, at age of 57 years old. Abay Tsehaye - $1.5 Billion. 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. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. The enterprising Eyob buys his gas from refiners and then sells it to the operators of the stations he owns. Tashitaa Tufaa grew up on his family's farm in the Oromia region with his 13 brothers and sisters, working there till he came of age. 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. However, less than 3,400 are ultra-high net-worth individuals. His primary businesses include cement, sugar and flour. 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. 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. 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. 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. Its highest dividend payout was in 2016, with Ksh4.3 billion ($36.9 million) distributed to shareholders. Wealth Milestones. His company TACON was also the first Ethiopian construction company to qualify for the International Standardization Organization ISO. 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. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. There were a record 2,755 billionaires in Forbes' 2021 list of the world's wealthiest people660 more than a year ago. The group has grown into one of the countrys largest employers, employing more than 6,000 permanent and temporary personnel. Its estimated population is 99,202 people, its 2021 GDP was USD 1.45 billion, and its GNI per capita was 29,800. 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. Top 10 Richest Men In Uganda 2021 In 2016, Ashenafi played a vital role in one of Africas largest private-sector business transactions. 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. 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. Buzuayehu Bizenu is the founder and chairman of East African Holding (EAH), a leading industrial conglomerate in Ethiopia. He is extremely influential in the country. As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. Kanye West has made it to the top of the list this year by beating Jay-Z. financial services group prepares to launch. This company would be supplemented with SouthWest Development which gives services to companies engaged in the oil and gas industry in Ethiopia. Nov 21, 2022. 3. It is also one of the world's fastest-growing economies. Jamel Toppin . 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. After completing his education, Duffuor made the highly lucrative move into banking.
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