Top 15 richest families in Ethiopia Alrightttt in Ethiopia, the total population
is slightly more than 114 million people.
However, the number of ultra-high net worth individuals is less than 3,500 people.
In 2020 alone, private wealth in Ethiopia was projected to be 57 billion dollars, which
is 1 billion dollars higher than Ghana and 33 billion dollars less than Kenya, both of
which have 90 billion dollars.
Ethiopia is home to a small number of billionaires, a large number of multimillionaires, and unsurprisingly
a high percentage of these ultra-high net worth individuals are politicians!
Even though Ethiopia is one of the world's developing nations, there are still wealthy
individuals living and enjoying life much like Hollywood stars.
They have access to power and run reliable businesses that exports goods from their beloved
nation to other countries, which accounts for their wealth.
We've put together a list of Ethiopia's top 15 wealthiest families for you all today.
Starting of we have 15.
The shifaw Family.
The Shifaw family is a very powerful and certainly influential family in Ethiopia.
popular for their coffee company started by Omer Ali Shifaw.
The climate in Ethiopia is perfect for growing coffee.
As a result, he made a wise commercial choice when he started the local coffee industry.
He is the driving force behind Nejat International, a business that exports specialty coffee to
other countries.
This agricultural company became well-known since the majority of the coffee produced
here is exported.
In order to grow in all directions, this company branched out into other agricultural sectors.
The combined fortune of the Shifaw family is estimated to be worth over 500 million
dollars.
14.
The Ambaye family.
The Ambaye family is a very popular family in Ethiopia.
the family is famous for being the family of Tekleberhan Ambaye . He began his rise
to stardom in 1993 when he incorporated himself as Tekleberhan Ambaye Construction Plc.
with a capitalization of $185.
13.
The Tufaa Family.
The Tufaa family is another very famous and powerful family in Ethiopia as it is the family
of Tashitaa Tufaa.
He walked five miles each way to and from school every day as a young child in Ethiopia
so his story is a true example of “grass to grace”.
He currently oversees Metropolitan Transportation Network, or M.T.N, a multimillion dollar business
that transports daily more than 15,000 Minnesota kids to their respective schools, field trips,
and other locations.
M.T.N started off simply with a single van, but Tufaa's excellent negotiating abilities
he had always envisioned himself as a diplomat helped the company expand rapidly.
One of fourteen siblings who grew up working on a farm is Tufaa.
He worked as a teacher after receiving his undergraduate degree before escaping to America
in 19 92.
He worked as a dishwasher, security guard, factory worker, shuttle driver, and other
positions before launching his own company with M.T.N.
The Tufaa family would definitely not be what it is today without the influence of Tashitaa.
The family is estimated to be worth a combined 750 million dollars.
12.
The Alemu Family.
The Alemu family is another Ethiopian family just like the previous.
The bulk of their fame is due to the influence of Bethlehem Tilahun Alemu.
He is an entrepreneur from Ethiopia who established soleRebels, a worldwide shoe brand with headquarters
in Addis Abeba, and currently holds the position of executive director.
soleRebels was founded in 2005.
As of 20 16, soleRebels shoes were sold in more than 50 countries after being dubbed
the "Fastest Growing African Shoe Brand" in 20 14.
Alemu started soleRebels as a method to combine the artistic creativity of her Ethiopian community
with the traditional "barabasso" recycled tire shoe.
As a result, footwear that is completely unique and inspired by an ethos of ethical manufacture,
sustainable materials, and maximum comfort is created.
The group is on track to control 500 soleRebels branded retail outlets worldwide and produce
1 billion dollars in revenue by 2028 after the inauguration of its 22nd branch in Hamburg's
hip St. Pauli District.
The Alemu family’s combined assets are estimated to be worth over 830 million dollars.
11.
The Bizenu Family.
The Bizenu family is another very influential and powerful family in Ethiopia.
The family’s patriarch is Buzuayehu Bizenu.
He is the founder and chairman of East African Holding, also referred to as E.A.H., a large
industrial firm in Ethiopia.
the manufacture of FMCGs, agriculture, agro-processing, printing and packaging, transportation, real
estate, and coal mining.
The company was established as an operating holding for subsidiary enterprises engaged
in these activities.
The company has grown into one of the biggest employers in the country with more than 6,000
permanent and temporary workers.
E.A.H produces over a hundred products and provides outside customers and affiliate companies
with transportation and distribution services.
In addition to his ownership stake in the group, Bizenu also has control over a number
of other businesses, including Bizenu Investments Plc, East African Agri-Business Plc, Cosmar
East Africa Business Plc, East African Group Plc, East African Tiger Brands Plc, Ethio-Asia
Industries Plc, National Cement S.C., and East African Coal Mining Corporation Plc.
The Bizenu family has a combined fortune of over 1 billion dollars.
10.
The Ashenafi Family.
The Ashenafi family is very powerful and very influential.
The family is popular for being the family of Tewodros Ashenafi.
Ethiopian businessman Tewodros Ashenafi is the CEO of SouthWest Energy, an oil and gas
exploration and production company with headquarters in Addis-Abeba, the country's capital.
The well-known businessman was not only the CEO of SouthWest Energy, Ethiopia's first
and only indigenous oil and gas company, but also played a significant role in the reform
of the country's energy industry.
Providing a variety of services to oil and gas companies, he is the chairman of SouthWest
Development, a prominent player in Ethiopia's oil and gas sector.
Ambo Mineral Water, a well-known naturally carbonated mineral water brand in Ethiopia,
and SABMiller are both co-owned by Ashenafi.
Ashenafi played a significant role in one of Africa's largest private-sector corporate
transactions in 20 16.
As a local partner for Japan Tobacco International in Ethiopia, he closed a 1.4 billion dollar
transaction to purchase a 40% interest in that country's National Tobacco Enterprise.
The 1 billion dollar deal is the largest privatization ever in Ethiopia.
The Ashenafi family is worth a combined total of over 1.2 billion dollars.
9.
The Kindie Family.
The Kindie family is one of Ethiopia most powerful families.
The majority of the family’s success comes from Belayneh Kindie.
He has amassed wealth through his Ethiopia-based Belayneh Kindie or B.K Business Group, which
first focused on the sale of oil seeds, nuts, and other products.
The company, which was founded in 2005, has grown to become a big marketer of agricultural
products in Ethiopia and one of the leading exporters of sesame seeds in the country.
It has recently grown into a large corporate organization in the country through B.K Business
Group.
The group still has ongoing operations in trade, transportation, renting construction
materials, hotels, domestic company ventures, and selling goods and services both domestically
and internationally.
The kindie family has a combined estimated net worth of over 1.4 billion dollars.
8.
The Shehaye Family.
The Shehaye family is by far one of the most influential families in Ethiopia.
the family is famous for being the family of the late Abaye Shehaye.
A very prominent political figure from Ethiopia's ruling party.
Due to his lengthy employment there, he had adequate influence within the party.
One way he made a lot of relationships and considerably boosted the country's economy
was in this way.
He was quite powerful in the country.
According to the Ethiopian government, Abay went missing in action in the ongoing Tigray
War by the Ethiopian National Defence Forces under the command of Prime Minister Abiy Ahmed
on 13 January 20 21.
Two other Tigray People's Liberation Front officials were killed with him.
The Ethiopian government alleged that the group refused to surrender.
The other two veteran Tigrayans killed are Asmelash Woldeselassie, who was blind and
with amputated left arm, and Seyoum Mesfin, Ethiopia's Minister of Foreign Affairs from
19 91 until September 20 10.
Five further officials were captured.
Abay Tsahaye had heart surgery before the war.
Their families and the T.P.L.F have since said the three were taken from their homes
in Mekelle and executed by the Eritrean and Ethiopian military.
The pictures published by Ethiopian authorities indicate a point-blank execution of the former
ministers and M.Ps.
The Shehaye family is estimated to be worth over 1.5 billion dollars.
7.
The Tafesse Family.
The Tafesse family is a prominent and affluent family in Ethiopia their influence is largely
due to Samuel Tafesse.
Samuel Tafesse is one of the most well-known businessman in Ethiopia.
The Sunshine Investment Group, a construction and real estate development company that develops
residential, leisure, and commercial properties in Ethiopia and the Middle East, was founded
by the 63-year-old real estate billionaire.
Since its establishment in Ethiopia in 19 83, Sunshine Investment Group has built 427
villas and 3554 apartments.
This houses the prestigious Marriott Executive Apartments in Addis Abeba.
Sunshine acts as a main highway contractor for the government, and the company has built
1,000 kilometres of road projects.
More than 3,000 people work with the company.
Through its accomplishments over the previous 34 years, it has been able to develop a trustworthy
capacity and display practical competence in the building industry.
Tafesse has made significant contributions to the growth of Ethiopia's building industry
in addition to forming Sunshine Investment Group.
Additionally, he has established charitable organizations and additional businesses under
Sunshine Investment Group.
With more than 100 million dollars in annual revenue.
The Tafesse family is estimated to be worth over 1.6 billion dollars.
6.
The Nega family.
The Nega family is not only influential but also feared by many Ethiopians.
They’re not the kind of family you’d want to joke with.
Sebhat Nega is revered as a titan within the Tigray People's Liberation Front . He is well-known
in Ethiopia for having built a multibillion dollar business empire during the 27 years
the gang was in power.
Nega was in charge of the T.P.L.F corporate empire under the auspices of the international
Endowment Fund for the Rehabilitation of Tigray.
He has accumulated hundreds of millions of dollars through his TPLF business dealings
and political connections.
Nega was one of the most important people in Ethiopia.
Even more powerful than the late prime leader Meles Zenawi, he was previously believed to
be.
The Nega family is estimated to be worth over 2 billion dollars.
5.
The Kristos Family.
This family is closely associated with the Mesfin family.
Among those with the most intimate knowledge of Meles the tyrant and his wife, Azeb Mesfin,
was Berhane Gebre Kristos.
He is still Azeb Mesfin's business partner today and is the dictator's highly valued
apprentice.
He assisted in the tyrant's money-laundering diplomatic maneuvers.
The dictator himself participated in the theft of a sizable sum of money from the common
people under the cover of taxes prior to the establishment of the government.
He was close to the dictator and had previously served in the T.P.L.F.
politburo.
He also participated in the Tigray Relief Endowment Fund committee.
Despite having a close relationship with Meles, he was later removed from both groups.
The Kristos family is estimated to be worth over 2 billion dollars.
4.
The Mamo family.
The Mamo family is another very influential family in Ethiopia.
The family is known for being the family of Eyob Mamo.
A prominent wholesale distributor of petroleum products in the Metro D.C. region and New
York City, Capitol Petroleum Group is owned by Ethiopian oil mogul Eyob Joe Mamo, who
also controls half of the city's gas stations.
Mamo, who attempts to maintain a low profile, is revered as the supreme authority in the
D.C. gas industry.
Eyob Joe Mamo also owns half of the city's gas stations, is the owner of Capitol Petroleum
Group, a large wholesale distributor of petroleum goods in the Metro D.C. area and New York
City.
In the D.C. gas sector, Mamo, who makes an effort to keep a low profile, is regarded
as the highest authority.
When Capitol Petroleum Group was valued at 800 million dollar in 20 11, he was among
Ethiopia's wealthiest businesspeople.
Mamo is in charge of the D.C.-based nonprofit.
The real estate developer and billionaire from Ethiopia has submitted a bid to acquire
a small share in D.C.
United.
The Mamo family are worth the combined total of over 2.5 billion dollars.
3.
The Zenawi family.
The Zenawi family is one of Ethiopia’s most successful families.
It is the family of the late Meles Zenawi.
Meles Zenawi was a politician and businessman from Ethiopia who was born on May 9th, 1955,
and passed away on August 20th, 2012, at the age of 57.
Meles Zenawi, a former prime minister of Ethiopia, was in charge.
Prior to becoming prime minister, Zenawi governed over Ethiopia in the 1990s as its president.
He led the Tigrayan People's Liberation Front T.P.L.F.
as well as the Ethiopian People's Revolutionary Democratic Front E.P.R.D.F. in the 19 80s.
Zenawi served as Ethiopia's prime minister from 19 95 until his death in August 20 12,
during which time he was lauded as one of the continent's strongmen for establishing
a multi-party-political system, establishing a private press, and lowering infant mortality
rates.
Zenawi merits credit for his lifetime of services to Ethiopia's development, particularly for
the impoverished, according to Barack Obama.
The Zenawi family is estimated to be worth over 3 billion dollars.
2.
The Mesfin family.
The Mesfin family is equally very powerful and influential.
The family is the family of Seyoum Mesfin.
At the moment, Seyoum Mesfin is Ethiopia's ambassador to China.
When he was the minister of foreign affairs, he had considerable influence on commerce.
He served as Ethiopian Airlines' chairman.
He was able to smuggle a lot of drugs into Africa and Asia thanks to his influence in
the Ethiopian cabinet and the airline industry.
He has a lengthy criminal history of alleged trafficking illegal substances and is the
wealthiest drug lord in Africa.
The widow of Seyoum Mesfin, Azeb runs her own firm and holds stock in other businesses
in Ethiopia.
She also carries a criminal reputation among Ethiopians, who have given her the moniker
"mother of corruption."
She is a stakeholder in the largest corporations and industries.
The combined net worth of the Mesfin family is estimated to be over 5.8 billion dollars.
1.
The Amoudi family.
The Amoudi family is arguable the most influential and powerful families Ethiopia.
Mohammed Al Amoudi, a son of a Saudi businessman and an Ethiopian mother, is the wealthiest
businessperson in Ethiopia.
Al-wealth Amoudi derives the most of his fortune from closely held companies in Sweden, Saudi
Arabia, and Ethiopia.
The billionaire owns Preem, his most valuable asset, Svenska Petroleum, and Midroc Europe,
a building and real estate firm, all through the totally owned Petroswede AB.
Additionally, he holds a 17% investment in Crunchfish A.B, a Swedish IT firm that creates
gesture detection software.
Following the nomination of one of his in-laws to the board of Midroc Gold, whose portfolio
includes the Sheraton hotels in Djibouti and Addis Abeba, Al-Amoudi has recently strengthened
his control over his hotel business.
The Almoudi family is thought to be worth well over 8.3 billion dollars.
The Amoudi Family concludes our list of the wealthiest families in Ethiopia, with that
said, what do you guys think about all the politicians on our list today?
I think its safe to say you’re better of being a politician in Ethiopia than a C.E.O
or venture capitalist.
Let us know your thoughts in the comments section below.
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