In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets and like products. The market value of Muriukis two-percent stake in Co-op Bank is now worth Ksh1.48 billion ($11.7 million). 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. richest nigerian in houston. Al-Amoudis fortune is derived mainly from closely held companies in Sweden, Saudi Arabia and Ethiopia. Its milestones over the past 34 years have enabled it to build a reliable capacity and exhibit practical excellence in the construction sector. However, she returned to manage her business after the group incurred losses up to 1 million within a short period. However, less than 3,400 are ultra-high-net-worth individuals. Tufaa left Ethiopia for the United States in 1992 and ultimately opened a U.S.-based transportation outfit. 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. began its explosive rise as one of Ethiopias largest business enterprises. Al-Amoudis fortune is derived mainly from closely held companies in Sweden, Saudi Arabia, and Ethiopia. Eskinders obsession with quality has changed the way several construction companies operate in Ethiopia. In 2011, her group recorded sales between 30 and 40 tonnes of khat per day. He was previously in the position of foreign affairs minister where he had a lot of power over trade. 7. At one point, he was considered even more powerful than the late Meles Zenawi, the one-time prime minister. 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. The shares from the company have made her present estimated worth of about $1.5 billion. Mohammed Al Amoudi, son of a Saudi father and an Ethiopian mother is Ethiopia's richest man businessman. His businesses produced 1.6% of total U.S. economic output. He had a net worth of around 12 billion U.S. dollars and ranked 144th worldwide. 3. Top 10 Richest People In New Zealand and Their Net Worth 2022. List of wealthiest Canadians (Forbes, 2021) World rank Name Net worth (USD) Source of wealth 33: David Thomson & family: US$41.8 billion: Media 189: Joseph Tsai: . The group has grown into one of the countrys largest employers, employing more than 6,000 permanent and temporary personnel. As a local partner in Ethiopia for Japan Tobacco International, they would go on to close a deal for 1,400,000,000 USD for the 40% acquisition of Ethiopia's National Tobacco Enterprise. The company eventually ceased operations in 2019 due to a government crackdown over alleged tax evasion and concerns about gambling addiction. The enterprising Eyob buys his gas from refiners and then sells it to the operators of the stations he owns. Morocco - $302.77 billion. Meles Zenawi - $3 Billion. Xu Rongmao & family. 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. Mohammed Al Amoudi - $8.3 Billion. 1. Nigeria - $1.14 trillion. Buzuayehu Bizenu is the founder and chairman of East African Holding (EAH), a leading industrial conglomerate in Ethiopia. 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. Mamo is the CEO of the D.C.-based group. what is the recommended ratio for lifeguard to swimmer Shimao. Since then, it has grown from a single bus in 2004 to a multimillion-dollar valuation as of press time. 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. Seyoum Mesfin - $1.8 Billion. . He is among the richest people in Africa who are worth billions ranking among Aliko Dangote, and others. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire. 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. 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. 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. 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. He would start the ardous climb to success by working various jobs, sometimes three at a time. A significant percentage of the countrys richest individuals are politicians. Tewodros also sits on a multitude of boards, think tanks, as well as, being a winner of international awards. 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 . ALIKO DANGOTE - NW: $21.6 BILLION. Sebhat Nega - $2 Billion. Meles Zenawi is the former Prime Minister of Ethiopia. Before starting his company in Ethiopia, Eskinder had already become a success in Germany. Eskinder's obsession with quality has changed the way several construction companies operate in Ethiopia. This company would be supplemented with SouthWest Development which gives services to companies engaged in the oil and gas industry in Ethiopia. According to research conducted by Billionaires.Africa, here is a list of some of these wealthy people. August 24, 2021. Mohammed Hussein Al Amoudi Biography. Ndegwa owns 4.3 percent of NCBA Group, making him one of the banks most significant shareholders. Its highest dividend payout was in 2016, with Ksh4.3 billion ($36.9 million) distributed to shareholders. Mohammed Al Amoudi, the son of a Saudi father and an Ethiopian mother is Ethiopias richest businessman. Who is the second richest person in Ethiopia. Jimoh Ibrahim is a politician, lawyer, businessman, and philanthropist with a net worth of $1.1 billion. 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). 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 $2.5 billion. If you have Telegram, you can view and join ETHIOPIAN REPORTER JOB VACANCY IN ETHIOPIA right away. Top 10 Richest African Countries by Overall GDP (INT$ at PPP International Monetary Fund 2021) Egypt - $1.38 trillion. 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. However, she returned to manage her business after the group incurred losses of up to 1 million within a short period. 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. Ndungu is a prominent Kenyan businessman and shareholder in Pevans East Africa. Ethiopia has a great environment for coffee cultivation. 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. 3. 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. Nega was in charge of the TPLF business empire under the conglomerate Endowment Fund for the Rehabilitation of Tigray. Algeria - $532.57 billion. Kanye began his career in the music industry as a producer and he even used to write songs for a few famous and popular . Brian Shuel // Getty Images. 2. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria. 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. All this and more, has made Omer Ali Shifaw one of Ethiopia's richest men and a self-made one at that. Elon Musk. 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 is one of the most famous businessmen in Ethiopia. Upon coming of age, Al Amoudi would travel to the Kingdom of Saudi Arabia and become a citizen of the country. He was also the chairman of the Tigrayan Peoples Liberation Front (TPLF) and the head of the Ethiopian Peoples Revolutionary Democratic Front (EPRDF) during the eighties. Furthermore, a deal with Globelq to create a solar park with 100MW is being negotiated. In Illinois, the richest person remains Ken Griffin, the founder of Chicago hedge fund Citadel. Advertisement. As one of the fastest growing economies in the world, Ethiopia is on its way to becoming an important hub for global commerce. 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. 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. coffee export, and coffee roasting and packing. 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 $1 billion in revenues by 2028. Jeff Bezos of Amazon, the richest one of the world from the US has a net worth of US$ 140 bn. Celebrity Net Worth estimates Al-Amoudis net worth to be around $8.3 billion whereas Bloomberg places his net worth at $5.46 billion. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire.