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. The bank first operated in Uganda as the National Bank of India in 1906. Mukesh Ambani the chairman and largest shareholder of Reliance Industries, has been the richest Indian for 13 consecutive years. He was previously in the position of foreign affairs minister where he had a lot of power over trade. 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. The company has been operating in Ethiopia for over 60 years now and is respected throughout for their competence. Samuel Tafesse - $1.6 Billion. Following the line of work her parents were in, Suhura upon growing older began her own small business khat dealership. He was listed on Forbes as the 67th richest man in Africa and the 183rd in the world. 15. 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. Estimated net worth: $4 billion. in 1976, as a mere youth. Celebrity Net Worth estimates Al-Amoudis net worth to be around $8.3 billion whereas Bloomberg places his net worth at $5.46 billion. 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. Kenya - $269.29 billion. Tekleberhan Ambaye (Eng) began his rise to greatness in 1993, registering his self-named TACON or Tekleberhan Ambaye Construction Plc., with an initial capital of 5,000 ETB or 185 USD. Aliko Dangote: The first on the list is Aliko Dangote. He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. 3. Most of the coffee produced here is exported and that made this agricultural company famous. Jamel Toppin . Eyob Joe Mamo - $2.5 Billion. Azeb Mesfin - $4 Billion. Algeria - $532.57 billion. The company has more than 3,000 employees. 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 Kenyan banking firm, which has 109 branches in Kenya, Uganda, Tanzania, Rwanda, and the Ivory Coast, was formed in 2019 by the merger of NIC Bank Group and Commercial Bank of Africa Group. 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. His net worth climbed to $16 billion in 2021, according to Forbes, up from $12.1 billion in 2020 . Sebhat Nega is considered a magnate within the Tigray Peoples Liberation Front (TPLF). 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. Amazon founder Jeff Bezos is the richest man in the world, according to the 2019 Forbes billionaires' list released this week. Mohammed Al Amoudi, son of a Saudi father and an Ethiopian mother is Ethiopia's richest man businessman. After the death of her husband - Julia Flesher Koch inherited about a 42% stake in his company . Source: Oil & Gas, Real Estate and Technology. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. 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. 1. After completing his education, Duffuor made the highly lucrative move into banking. 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. Tewodros also sits on a multitude of boards, think tanks, as well as, being a winner of international awards. After 22 years away from his homeland, Ermias would return with his experience in Wall Street's stock exchange and start innovative businesses in Ethiopia. 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 2. Tekleberhan Ambaye is an industry leader and one of Ethiopias richest men. According to data tracked by Billionaires.Africa, the Kenyan businessmans stake in NCBA has lost Ksh219.82 million ($2.39 million) in market value since the beginning of the year, owing to renewed selling pressure on the local bourse. At one point, he was considered even more powerful than the late Meles Zenawi, the one-time prime minister. Taking advantage of this huge business opportunity, Suhura was able to quickly expand her business in an explosive manner. 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. Mamo is the CEO of the D.C.-based group. Before starting his company in Ethiopia, Eskinder had already become a success in Germany. 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. Berhane Gebrekristos - $2 Billion. She has her own business and owns shares in various companies around Ethiopia. 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. 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. He was close to Meles but was later kicked out of both organisations. Ketema would begin to import and sell goods, export agricultural products, and distribute locally produced goods throughout Ethiopia. 1. There were a record 2,755 billionaires in Forbes' 2021 list of the world's wealthiest people660 more than a year ago. The list of richest Indians by net worth based on an annual assessment of wealth and assets compiled and published by Forbes magazine. Berhane Gebrekiristos. booming construction industry in Ethiopia. The $161 million bump in his wealth figures can be attributed to the strong performance of his industrial assets in Ethiopia, Saudi Arabia, and Sweden, which continues to track the performance of publicly . Mohammed Al Amoudi, the son of a Saudi father and an Ethiopian mother is Ethiopias richest businessman. Ethiopia is home to over 122 million people, per Worldometer. 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. 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. 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. 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. The company has been operating in Ethiopia for over 60 years now and is respected throughout for its competence. As of June 2022, Nassef Sawiris, with a net worth of 7.3 billion U.S. dollars, is the richest man in Egypt, fourth richest in the African continent, and ranked 292 in the world. By2016, Tewodros would play a vital role in one of Africa's largest private sector business transactions. 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. He also owns a 17-percent stake in Crunchfish AB, a Swedish technology company that develops gesture recognition. in 1976, as a mere youth. When thinking about the richest people in Ethiopia, the name Ali Al Amoudi will always come up in the minds of almost all Ethiopians. As of 2016, soleRebels shoes were sold in more than 50 countries after it was tagged the Fastest Growing African Shoe Brand in 2014. 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. Nigeria - $514.05 billion. As many as five Africans feature in the Bloomberg Billionaires Index 2021 of the world's 500 wealthiest people. As a local partner in Ethiopia for Japan Tobacco International, he closed a $1.4-billiondeal to acquire a 40-percent interest in Ethiopias National Tobacco Enterprise. Bill Gates. The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials, and maximum comfort. The market value of Muriukis two-percent stake in Co-op Bank is now worth Ksh1.48 billion ($11.7 million). He was 57. As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. 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. A tireless and true businessman, Al Amoudi would also venture into banking, agriculture, cement production, among a dozen other interests. 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. Who is the first billionaire in Ethiopia? 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.