After 22 years away from his homeland, Ermias would return with his experience in Wall Streets stock exchange and start innovative businesses in Ethiopia. Berhane Gebrekiristos. 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). 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. 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. what is the recommended ratio for lifeguard to swimmer He was 57. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets, and like products. Seeing this unfortunate management crisis, Suhura returned to the helm of the business. EAH produces over 100 products and provides distribution and logistics services to subsidiary companies and external customers. By. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. Alemu founded soleRebels as a way to blend her Ethiopian communitys creative artisan talents with the traditional barabasso (Ethiopian recycled tire) shoe. Pevans East Africa, the holding company for SportPesa, began distributing dividends to its shareholders in 2015, with a total payout of Ksh1.57 billion ($23.46 million). was soon created in 2008, to strengthen and expand Belayneh's import and export businesses. 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. As of March 2, 2023, 6:02 PM EST The Bloomberg Billionaires Index is a . He has enough influence inside the party because he is a veteran there. 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. Many of these men and women have also achieved exceptional success and are deserving of being included in the list of the richest Ethiopians. Aliko Dangote: The first on the list is Aliko Dangote. 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. 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. June 6, 2022 . He is still one of the most influential people in the whole of Ethiopia today. Sergey Brin. on. Who is the richest person in Uganda 2021? Catch New Video Here: https://bit.ly/2ZxWEKL Azeb Mesfin - $4 Billion. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. 1. 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. Expanding legalization has driven an increase in bets on football's big game, with wagers more than doubling from 2021 to 2022. Ethiopia-born billionaire Mohammed Al-Amoudi is Ethiopias richest man with a $6.96-billion net worth. Africa is the second largest continent in the world in terms of land area and population. 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. 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. Mohammed Al Amoudi, the son of a Saudi father and an Ethiopian mother is Ethiopias richest businessman. August 24, 2021. 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. 1960: Pete Seeger at Bowdoin College in Brunswick, Maine . Furthermore, Akiko's OBG also engages in construction machinery rental, spas, gyms, and logistical works. Kanye began his career in the music industry as a producer and he even used to write songs for a few famous and popular . Algeria - $532.57 billion. At one point, he was considered even more powerful than the late Meles Zenawi, the one-time prime minister. Muriuki holds a two-percent stake in the leading financial services group. 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. Omer owns coffee clearing machines, coffee washing stations and plans to start up a coffee plantation. Taking advantage of this huge business opportunity, Suhura was able to quickly expand her business in an explosive manner. Its estimated population is 99,202 people, its 2021 GDP was USD 1.45 billion, and its GNI per capita was 29,800. Since then, it has grown from a single bus in 2004 to a multimillion-dollar valuation as of press time. The bank first operated in Uganda as the National Bank of India in 1906. Seyoum Mesfin - $1.8 Billion. in 1976, as a mere youth. Unfortunately, his family's finances would force him to drop out after three years of higher learning, just short of receiving his degree. 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. The-CNN-Wire. 9. As of Jan 2023, India has 166 billionaires which put the country third in the world, after the United States and China. Young Rich List wealth takes $11b hit after tech plunge. richest nigerian in houston. 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. . Ketema Kebede created the self named KK Plc. Azeb Mesfin - $4 Billion. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire. He's worth $4.3 billion and is the 665th richest person in the world. He is among the richest people in Africa who are worth billions ranking among Aliko Dangote, and others. 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. 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. 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. Ethiopia is home to over 122 million people, per Worldometer. Sebhat Nega - $2 Billion. 2021 Power 100; 2020 Power 100; 2019 Power 100; 2018 Power 100; 2017 Power 100; Leads & Data Center. Richest African Countries by GDP. In 2020, private wealth in Ethiopia was estimated at $57 billion, $1-billion higher than the figure for Ghana and $33-billion lower than Kenyas $90 billion. in 1976, as a mere youth. 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. Who are the richest celebrities in Ethiopia in 2023? He has been chairman of Ethiopian Airlines. He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials, and maximum comfort. Sebhat Nega is considered a magnate within the Tigray Peoples Liberation Front (TPLF). 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. 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. The market value of Muriukis two-percent stake in Co-op Bank is now worth Ksh1.48 billion ($11.7 million). This billion-dollar deal is Ethiopias largest-ever privatization agreement. Xu Rongmao & family. One of the factors contributing to . 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. Top 10 Wealthiest/Richest People In Ethiopia In 2023. financial services group prepares to launch. 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. 2 weeks ago. 10. Samuel Tafesse embodies the rags to riches story, as he has grown his company to be one of the largest construction companies in Ethiopia. Mukesh Ambani the chairman and largest shareholder of Reliance Industries, has been the richest Indian for 13 consecutive years. Despiterankingonly 29th in Africa by living standards and economic wealth, Ethiopia is a land of riches for thousands. Ethiopia's First and Largest Blog Network. Tewodros Ashenafi Tewodros Ashenafi is a famous Entrepreneur, born on August 26, 1969, in Ethiopia. This land would be supplemented with an additional 1,500 hectares of land by the government of the Southern Nations, Nationalities and Peoples. He also owns a 17-percent stake in Crunchfish AB, a Swedish technology company that develops gesture recognition. Thomas Pritzker: He is the heir to and executive chairman of the Hyatt hotel chain. At the time, John D. Rockefeller was the richest person in the worldworth roughly $285 billion in today's terms. 91. The billionaire owns Svenska Petroleum, Midroc Europe (a construction and property group), and Preem (his most valuable asset) through the wholly-owned Petroswede AB. He has made a lot of profit in this business in the past few years and his estimated worth at present is $1.8 billion. Liya Kebede . Ndungu is a prominent Kenyan businessman and shareholder in Pevans East Africa. Up next with a net worth of $680 million is Kwabena Duffuor. Ethiopia-born billionaire Mohammed Al-Amoudi. 1. 2. 2. | Website by ethioSEO | Terms of Use | Privacy Policy | Disclosure | Cookies Policy. The top 10 richest people on the planet have a combined net worth of $1.4 trillion. A significant percentage of the countrys richest individuals are politicians. Source:Oil & Gas, Real Estate and Technology. It was not properly convened and did not take place in Tanzania, as per the Companies Act, he emphasized. 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. now scroll down to watch cat videos, Thank me later! Copyright 2023 allaboutETHIO.com All Rights Reserved. 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. The dictator himself looted a huge amount of money in the name of taxes from the common people and before the government was formed, he helped them in the loot of money. Being the eldest sibling, Samuel took a job as a parking attendant at the Addis Ababa Stadium, where he would use the opportunity to sell soft drinks, chewing gum, and cigarettes. By 2008, Suhura would pay 37,000,000 USD or 999,000,000 ETB in taxes to the Ethiopian government. Who is the second richest person in Ethiopia. Dangote is the richest person in Africa and the only African on the list of top 50 richest in the world. Search by Location. As of November 2022, Aliko Dangote was the richest man in Africa. 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. In late 2021 his net worth peaked at $137 billion, which made him the third-richest person . Since then, it has grown from a single bus in 2004 to a multimillion-dollar valuation as of press time. Richard Schulze (conceived January 1941) is the organizer and previous executive and CEO of Best Buy. Focusing his efforts on employee improvement, good management, and tight credit controls, BKIE soon began to expand to various other sectors. The company eventually ceased operations in 2019 due to a government crackdown over alleged tax evasion and concerns about gambling addiction. The . 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. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria. 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. 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. The 10 Richest Individuals in Ethiopia ===== Even though Ethiopia is classified as one of the developing countries in the world. The billionaire owns Svenska Petroleum, Midroc Europe (a construction and property group) and Preem (his most valuable asset) through the wholly-owned Petroswede AB. 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. However, the recent bump in his wealth comes after his net worth slumped by $1.25 billion in 2022, from $6.71 billion to $5.46 billion. Both men have watched their wealth increase by NOK 6.5 billion kroner since last year. 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. Source: Oil & Gas, Real Estate and Technology. 3. In 2016, Ashenafi played a vital role in one of Africas largest private-sector business transactions. 8. He had a net worth of around 12 billion U.S. dollars and ranked 144th worldwide. 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. 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. Ethiopia - $298.57 billion. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopias richest a billionaire. He was previously a member of the politburo of TPLF and was close to the dictator. 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. Working closely with the Chinese, he has been praised for not letting any shoddy construction works pass. Despite supply chain bottlenecks, Tesla deliveries have increased 27% since the second quarter of 2021. In Illinois, the richest person remains Ken Griffin, the founder of Chicago hedge fund Citadel. This billion-dollar deal is Ethiopias largest-ever privatization agreement. Mohammed Hussein Al Amoudi Biography. Before starting his company in Ethiopia, Eskinder had already become a success in Germany. 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. who is therichestperson in Ethiopia 2022. Who is the youngest millionaire in Ethiopia? began its explosive rise as one of Ethiopia's largest business enterprises. In 2011, her group recorded sales of between 30 and 40 tonnes of khat per day. Samuel Tafesse is one of the most famous businessmen in Ethiopia. Mohammed Al Amoudi, son of a Saudi father and an Ethiopian mother is Ethiopia's richest man businessman. Eskinders obsession with quality has changed the way several construction companies operate in Ethiopia. Nigeria - $1.14 trillion. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria. Ethiopia has a great environment for coffee cultivation. 5. As many as five Africans feature in the Bloomberg Billionaires Index 2021 of the world's 500 wealthiest people. 1. His net worth at present is $500 million. For most, the journey to becoming one of the richest Ethiopians was not an easy one, but through an undying obsession to become successful, these people have reached their goals. His power in the Ethiopian cabinet along with the airlines helped him smuggle a lot of drugs within Africa and Asia. . He would start the ardous climb to success by working various jobs, sometimes three at a time. 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. Abay Tsehaye - $1.5 Billion. 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. Throughout the years, the company has delivered over 2,800 housing units with more on the way. 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. As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. As of 2016, soleRebels shoes were sold in more than 50 countries after it was tagged the Fastest Growing African Shoe Brand in 2014. It ranks fourth for private wealth held by individuals. Tenth in the list of richest persons in 2022 is Sergey Brin with his $91.4 billion net worth. Furthermore, continually looking to grow, Ketema would also begin to manufacture acrylic yarn and blankets, engage in real estate development, and operate a transit and forwarding company.