Top 10 Richest People in Ethiopia 2023 | Unveiling Ethiopia's Wealthiest -

Ethiopia is located in the Horn of Africa, with over 100 million people. Despite being one of the poorest countries in the world, Ethiopia has seen significant economic growth and development in recent years. This growth has resulted in an increase in wealth for some of its citizens.

In this article, we will look at Ethiopia’s top 10 wealthiest people as of 2023. These individuals have amassed their wealth through various means, such as business ventures, investments, and inheritance. Their net worths are based on publicly available information and estimates from reputable sources. Join us as we explore the lives and fortunes of Ethiopia’s wealthiest individuals.

Here are the Top 10 Richest People in Ethiopia and their Net Worth

Table of Contents

Mohammed Al Amoudi Net Worth – $10.9 Billion and Biography

Mohammed Al Amoudi was born in Ethiopia to a Saudi Arabian father and an Ethiopian mother. He is a billionaire businessman and investor interested in instruction, oil refineries, mining, agriculture, and real estate. He owns Midroc Ethiopia Technology Investment Group and Mohammed International Development Research and Organization Companies.

Al Amoudi’s net worth is estimated at $10.9 billion, making him one of the richest people in Ethiopia. He has also been listed as one of the wealthiest people in the world by Forbes magazine. Despite his wealth, Al Amoudi has faced controversy over his alleged ties to the Ethiopian government and accusations of human rights violations on some of his projects.

In addition to his business ventures, Al Amoudi is known for his philanthropic efforts through the Sheikh Mohammed Hussein Ali Al-Amoudi Foundation. The foundation supports various initiatives, including education, healthcare, poverty reduction programs, environmental conservation efforts, and cultural heritage preservation projects in Ethiopia and other African countries.

Azeb Mesfin Net Worth – $8 Billion and Biography

Azeb Mesfin is a well-known Ethiopian businesswoman and politician with an estimated net worth of $8 billion. She was born on March 9, 1959, in Adwa, Ethiopia. Azeb is married to the former Prime Minister of Ethiopia, Meles Zenawi. The couple had three children together.

Azeb began her teaching career before venturing into politics in the early 1990s. She served as a member of the Ethiopian Parliament from 1995 to 2010 and became one of the most powerful women in Ethiopian politics. Azeb also played a significant role in several social initiatives to improve Ethiopia’s healthcare and education.

In addition to her political career, Azeb has made significant investments in various sectors such as mining, construction, agriculture, and energy through her family-owned company, EFFORT (Endowment Fund for the Rehabilitation of Tigray). Her wealth has earned her a spot among Ethiopia’s top ten wealthiest people for many years.

Belayneh Kindie Net Worth – $1.6 Billion and Biography

Belayneh Kindie is one of the wealthiest people in Ethiopia, with a net worth of $1.6 billion. He made his fortune through various business ventures, including real estate, construction, and manufacturing investments. Belayneh is the founder and CEO of Sunshine Construction PLC, one of the largest construction companies in Ethiopia.

Born in 1973 in Ethiopia’s Amhara region, Belayneh started his career as an engineer after graduating from Addis Ababa University. In 2008, he founded Sunshine Construction PLC and quickly grew it into a leading company in the Ethiopian construction industry. The company has been involved in several major infrastructure projects nationwide, including roads, airports, and commercial buildings.

In addition to his success as a businessman, Belayneh is also known for his philanthropic work. He has donated millions to support education and healthcare initiatives across Ethiopia. Despite his wealth and success, Belayneh prefers to keep a low profile and remains focused on growing his businesses while giving back to his community.

Samuel Tafesse Net Worth – $1.6 Billion and Biography

Samuel Tafesse is one of Ethiopia’s top 10 wealthiest people, with an estimated net worth of $1.6 billion. Tafesse, in his early fifties, made his fortune through various businesses, including real estate, manufacturing, and hospitality.

Born and raised in Addis Ababa, Ethiopia’s capital city, he attended local schools before earning a degree from a university in the United States. He then returned to Ethiopia to start his own business.

Tafesse is known for being a savvy businessman with a keen eye for opportunities. He has invested heavily in Ethiopia’s growing economy and helped create jobs and economic growth. Despite his success, he remains committed to giving back to his community through philanthropy and social initiatives.

Eyob Joe Mamo Net Worth – $2.5 billion and Biography

Eyob Joe Mamo is one of the wealthiest individuals in Ethiopia, with a net worth of $2.5 billion. Born in Addis Ababa, Ethiopia, he began his career as an accountant and worked for Deloitte before founding his own company, Afriflora Sher Farms, in 2004. The company specializes in rose production and exports its products to Europe, Japan, and the Middle East.

Under Mamo’s leadership, Afriflora has become one of the largest rose producers in the world. In addition to his success in business, Mamo is known for his philanthropic efforts. He established the Ethiopian Horticulture Producer Exporters Association (EHPEA), which provides support and training to smallholder farmers. He also founded a private school that educates children from low-income families.

Mamo’s net worth continues growing as Afriflora expands its operations globally while contributing significantly to Ethiopia’s economy by creating jobs and boosting trade relations with other countries.

Tekleberhan Ambaye Net Worth – $1.8 billion and Biography

Tekleberhan Ambaye is a prominent Ethiopian businessman and founder of the country’s largest private bank, the Commercial Bank of Ethiopia. As of 2023, his estimated net worth is around USD 1.8 billion, making him one of the wealthiest individuals in Ethiopia.

Ambaye was born in 1942 in the Tigray region and pursued his education at Addis Ababa University before starting his career as a banker at the National Bank of Ethiopia. In 1994, he founded the Commercial Bank of Ethiopia to create a financial institution that would serve ordinary Ethiopians and support small businesses.

Under Ambaye’s leadership, the bank has grown significantly over the years and has more than 1,400 branches across Ethiopia. In addition to his success in banking, Ambaye has also been involved in various philanthropic activities, including supporting education initiatives and funding development projects for rural communities.

Worku Aytenew’s Net Worth – $1.2 Billion and Biography

Worku Aytenew is one of the wealthiest people in Ethiopia, with a net worth estimated at $1.2 billion as of 2023. He made his fortune by owning Ayat Real Estate, one of Ethiopia’s largest real estate companies. The company has developed numerous luxury residential and commercial properties across the country.

Born in 1970, Worku Aytenew started his career as a civil engineer before venturing into real estate development in the early 2000s. He founded Ayat Real Estate in 2005 and quickly established it as a significant player in the Ethiopian market. Today, Ayat Real Estate employs over 500 people and has an extensive portfolio that includes shopping malls, office buildings, hotels, and residential complexes.

Despite his immense wealth, WORKU AYTENEW is known for his philanthropic efforts. He has donated millions to various charities and causes throughout Ethiopia, including education and healthcare initiatives. In recognition of his contributions to society, he was awarded the Order of Lincolnshire Award by the UK-based charity organization The Lincolnshire Community Foundation Trust in 2017.

Haile Gebreselassie Net Worth – $20 Million and Biography

Haile Gebrselassie, born April 18, 1973, is a retired Ethiopian long-distance runner. He has won two Olympic gold medals and eight World Championship titles in the sport. In addition to his impressive athletic career, Gebrselassie has made a name for himself in business ventures such as developing real estate and hotel ownership.

With an estimated net worth of $20 million, Gebrselassie stands tall as one of the wealthiest individuals in Ethiopia. Having come from humble beginnings, he has worked hard to succeed on and off the track. Today, he serves as an inspiration for aspiring athletes and entrepreneurs alike.

In terms of his personal life, Haile Gebrselassie is married and has three children. He promotes athletics in Ethiopia through various initiatives, such as establishing a private training center for young athletes called the Haile Resort Training Center. His legacy extends beyond just his athletic accomplishments and wealth – he is a role model for Ethiopians everywhere.

Dawit Hailu’s Net Worth – $1 Billion and Biography

Dawit Hailu is a prominent Ethiopian businessman and entrepreneur who has made his mark in various sectors of the economy. He is the founder and CEO of DH Geda Group, which operates in several industries, including real estate, construction, hospitality, and automotive. As of 2023, Dawit Hailu’s net worth is around USD USD 1 billion.

Born in Addis Ababa, Ethiopia, in 1975, Dawit started his career as a young entrepreneur by importing spare vehicle parts while studying at university. After graduation, he founded DH Geda Group and grew it into one of the most successful businesses in Ethiopia. Today, his company employs thousands of people across different sectors and has become a household name in the country.

Besides his business ventures, Dawit Hailu is also involved in various philanthropic activities to improve education and healthcare services for underprivileged communities in Ethiopia. Several local and international organizations have recognized him for his contributions to society.

Tewodros Ashenafi Net Worth – $1 Billion and Biography

Tewodros Ashenafi is a prominent Ethiopian businessman and the founder of Ambo Mineral Water, one of Ethiopia’s leading mineral water brands. He is also the CEO of SouthWest Energy, a company specializing in oil and gas exploration. With an estimated net worth of $1 billion, Tewodros Ashenafi ranks among Ethiopia’s top 10 wealthiest people.

Born in Addis Ababa, Tewodros Ashenafi attended Addis Ababa University, where he earned a degree in Geology. He later obtained an MBA from Howard University in Washington, DC. After completing his studies, he worked for several years as a geologist before venturing into entrepreneurship.

Apart from his business interests, Tewodros Ashenafi is also known for his philanthropic activities. He has supported various charitable organizations and initiatives to improve access to education and healthcare services for underprivileged communities in Ethiopia.

Akiko Seyoum’s Net Worth – $600 Million and Biography

Akiko Seyoum is one of the wealthiest people in Ethiopia, with an estimated net worth of over $600 million. She is a successful businesswoman and entrepreneur who has made her fortune through several ventures in various sectors, including real estate, hospitality, and manufacturing.

Born in Addis Ababa in 1975, Akiko completed her education at Harvard Business School before returning to Ethiopia to start her own business. She began by investing in luxury hotels and resorts nationwide, which quickly became popular destinations for local and international tourists.

She then expanded into real estate development, building high-end residential properties and commercial buildings across Ethiopia.

Aside from her successful business ventures, Akiko is also known for her philanthropic work. She has donated millions of dollars towards various charitable causes to improve the lives of underprivileged communities across Ethiopia.

Her contributions have helped fund education initiatives, healthcare projects, and social welfare programs that have positively impacted thousands of lives.

Mensur Jemal Net Worth – 112 Million ETB and Biography

Mensur Jemal is a prominent Ethiopian businessman and entrepreneur. He was born in 1960 in the city of Jijiga, Ethiopia. After completing his education, he started his career as a trader in the commodities market, dealing primarily with coffee and oilseeds. Through hard work and dedication, he has built a successful business empire that includes agriculture, real estate, and construction interests.

As of 2023, Mensur Jemal’s net worth is estimated to be around 112 million ETB (approximately USD 2.6 million), making him one of Ethiopia’s top 10 wealthiest people. MJ International Group PLC invests in various industries, including transport services and mining. Additionally, he serves on the board of directors for several other companies.

Despite his wealth and success, Mensur Jemal remains committed to giving back to his community through philanthropic efforts such as improving access to education and healthcare. He is also known for supporting small businesses through initiatives like providing loans without interest rates to entrepreneurs who show growth potential.

As a self-made billionaire with humble beginnings, MensurJemal’s life story inspires many young Ethiopians who aspire to achieve financial success through entrepreneurship and hard work.

Abel Mulugeta (Life of Abel) Net Worth – $700 Million and Biography

Abel Mulugeta is a successful entrepreneur and businessman with an estimated net worth of $700 million. He started his career as a small business owner, selling various products in the local market before expanding to national and international markets. His company, Abel Holding Group, has diversified interests in real estate, hospitality, agriculture, and manufacturing.

Born in Ethiopia in 1965, Abel attended Addis Ababa University, where he studied business management. After graduation, he worked for several companies before starting his own business. Today, he is one of Ethiopia’s top 10 wealthiest people and continues to expand his empire through strategic investments and partnerships.

Abel is also known for his philanthropic work throughout Ethiopia. He established the Abel Foundation, which focuses on education and healthcare initiatives for underprivileged communities. His dedication to giving back has earned him respect from his peers and the general public.

Conclusion

In conclusion, the top 10 wealthiest people in Ethiopia in 2023 are a true testament to the country’s growing economy. With a combined net worth of over $13 billion, these individuals have made their fortunes through various industries such as real estate, construction, telecoms, and manufacturing.

While some inherited their wealth from family businesses, others have built their empires through sheer hard work and determination.

Despite the economic challenges that Ethiopia has faced in recent years, these individuals have managed to thrive and continue to invest heavily in the country’s development. Their success is not just limited to financial gain but also extends to creating employment opportunities for thousands of Ethiopians and contributing towards social welfare initiatives.

The list provides insight into how wealth can be accumulated in Ethiopia. It is inspiring to see how these individuals have leveraged their talents and resources for personal gain and uplifting those around them. As the country continues on its path toward progress, one can only hope that more Ethiopians will join this list of successful entrepreneurs making significant contributions toward building a better future for all.

FAQ | Top 10 Richest People in Ethiopia 2023

Who is the wealthiest person in Ethiopia?

The wealthiest person in Ethiopia is Mohammed Al Amoudi. He is a Saudi-Ethiopian billionaire businessman with an estimated net worth of $12.3 billion USD.

Al Amoudi made his fortune through investments in oil refineries and other business ventures in Ethiopia, Saudi Arabia, and Sweden. He is the largest foreign investor in Ethiopia and has invested billions of dollars into its economy. He also owns a large stake in the National Bank of Ethiopia, making him one of the most influential figures in the country's banking sector.

Al Amoudi is known for his philanthropy, having donated millions of dollars to various charities and causes throughout Ethiopia and beyond. His donations have helped fund medical centers, universities, and other projects that promote economic development in the country. He has also been recognized by the United Nations for his efforts to improve education opportunities for Ethiopians living abroad.

Who is the richest African?

According to Forbes' 2020 list of Africa's Billionaires, the richest African is Aliko Dangote from Nigeria. He has an estimated net worth of $10.9 billion and is the founder and chairman of Dangote Group, a conglomerate with interests in food processing, cement manufacturing, and freight.

The second wealthiest African is Nicky Oppenheimer from South Africa with an estimated net worth of $7.3 billion. He is the former chairman of De Beers diamond company and currently serves as Chairman of the Board for Anglo American plc, a leading mining company.

The third richest African is Mike Adenuga from Nigeria with an estimated net worth of $5.1 billion. He is the founder and chairman of Globacom, a Nigerian telecommunications company, as well as Conoil Producing Limited, an oil exploration firm.

Who is the youngest billionaire in Africa?

The current youngest billionaire in Africa is Mohammed Dewji, who is 43 years old. He is the founder and CEO of MeTL Group, a Tanzanian conglomerate founded in the early 1990s. The company operates in 11 different countries and has interests in textiles, food and beverages, flour milling and more. In 2018, Dewji was estimated to have a net worth of $1.5 billion.

Dewji was born in Tanzania in 1975 and attended Georgetown University in Washington D.C., where he earned a degree in international business and finance. After graduating, he returned to Tanzania to join his family’s business before founding MeTL Group at age 19. Since then, he has grown the company into one of the most successful businesses on the continent with an estimated annual revenue of over $2 billion.

Is Nigeria a rich or a poor country?

Nigeria is a developing country with a population of over 200 million people. While it has the potential to become an economic powerhouse, it currently ranks low in terms of GDP per capita and is considered one of the poorest countries in the world.

Nigeria's economy is heavily reliant on oil exports, which account for 95% of its foreign earnings. Despite this reliance on oil, Nigeria's poverty rate remains high at 40%. This is due to a lack of investment in infrastructure and education, as well as widespread corruption and mismanagement of resources.

In recent years, Nigeria has made efforts to diversify its economy by investing in other sectors such as agriculture and manufacturing. These efforts have been met with some success, yet much more needs to be done before Nigeria can become a truly prosperous nation.

Which religion is rich in Ethiopia?

Ethiopia is a multi-faith country, with a majority of the population belonging to the Ethiopian Orthodox Church. This church is part of Oriental Orthodoxy, and it is one of the oldest Christian denominations in the world. The other major religious group in Ethiopia is Islam, which accounts for around 34% of the population. Other religions practiced in Ethiopia include Protestantism, Catholicism, traditional African religions, and Judaism.

The Ethiopian Orthodox Church has played an important role in shaping Ethiopian culture and society since ancient times. It has a rich tradition of liturgical music and art, as well as rituals that have been passed down through generations. Many Ethiopians also practice their faith through pilgrimages to holy sites such as Lalibela and Axum.

Islam has also had a strong presence in Ethiopia since the 7th century CE when Muslim traders arrived from Arabia. Today, most Muslims are members of either the Sunni or Shia branches of Islam, with both groups having their own distinct traditions and practices.

How rich is Ethiopia country?

Ethiopia is a relatively poor country, with an estimated GDP per capita of $783 in 2019. This places Ethiopia at the bottom of the list of lower-middle income countries, according to the World Bank. Ethiopia also has a high poverty rate, with over 30% of its population living below the national poverty line.

Despite this, Ethiopia has seen strong economic growth in recent years. The country's economy grew by an impressive 8.2% in 2019 and is expected to remain strong in 2020 and beyond. Additionally, Ethiopia has made progress towards reducing poverty and improving access to basic services such as health care and education.

Overall, while Ethiopia is not a wealthy country, it has made significant strides towards economic development over the past few years.

Who is the richest girl in Ethiopia?

The richest girl in Ethiopia is believed to be Liya Kebede. She is a supermodel, actress, and fashion designer from Addis Ababa. Kebede has been featured in Vogue, Elle, and other major fashion magazines around the world. She has also appeared in several films, including Desert Flower and The Good Shepherd.

Kebede is estimated to have a net worth of $18 million dollars. She earned her wealth through her modeling career and various business ventures. In addition to her work as a model, she has launched her own clothing line called Lemlem and serves as the World Health Organization’s Goodwill Ambassador for Maternal, Newborn, and Child Health. She also founded the Liya Kebede Foundation which works to improve maternal health in Ethiopia.

Kebede's success story serves as an inspiration for young people all over Ethiopia who dream of achieving their goals despite difficult circumstances.

When was Ethiopia rich?

Ethiopia has a long and rich history, stretching back to the 10th century BCE. During this period, it was a powerful empire that was known for its advanced infrastructure and impressive military strength.

In the 16th century, Ethiopia was one of the most powerful nations in Africa. It had a strong economy based on agriculture, trade, and commerce. Its vibrant cities were hubs of culture and learning, with impressive architecture and monuments. This period of prosperity lasted until the 19th century when Ethiopia experienced foreign invasions from European powers as well as internal conflict between different factions within the country.

Despite this decline in wealth, Ethiopia has continued to be an important economic power in Africa throughout the 20th century and into the 21st century. It is now one of the fastest growing economies in Africa, with strong growth in its agricultural sector as well as its manufacturing sector. Ethiopia is also becoming increasingly connected to global markets through international trade agreements, which is helping to drive further economic development.

Which ethnic is the richest in Ethiopia?

Ethiopia is a diverse country with more than 80 ethnic groups. It is difficult to determine which group is the wealthiest since there are many factors that can influence wealth, including access to education and resources.

However, one of the most affluent ethnic groups in Ethiopia is the Tigray people. They are located in the northern region of the country and make up about 6% of Ethiopia's population. The Tigray have traditionally been involved in trade and commerce, giving them access to more resources than other groups. Additionally, they have historically had higher levels of education than some other ethnicities in Ethiopia, which has enabled them to gain more economic power.

Overall, it is difficult to identify an exact answer to this question as there are many factors that can influence wealth and economic success among different ethnic groups in Ethiopia.

Who is the richest in Addis Ababa?

According to Forbes, Mohammed Al Amoudi is the richest person in Addis Ababa. He is an Ethiopian-born Saudi Arabian businessman and investor with a net worth of over $10 billion. He has a wide range of investments in oil, real estate, construction, agriculture, manufacturing, and other sectors. He also owns many banks and hotels in Ethiopia.

The second richest person in Addis Ababa is Ahmed Abu Bakr Al Amoudi. He is the founder of MIDROC Ethiopia and his net worth is estimated to be around $2 billion. His business interests include construction, engineering services, mining operations, hospitality, real estate development and education.

The third richest person in Addis Ababa is Tewodros Ashenafi who has a net worth of around $1 billion. He owns several companies including Awash International Bank, Dashen Brewery Share Company and Efrem Engineering Share Company.