2023 Top 10 Richest People in Ethiopia

6. Sebhat Nega – $2 Billion

Source: Politics

Sebhat Nega is considered a magnate within the Tigray People’s Liberation Front (TPLF). He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power.

Nega was in charge of the TPLF business empire under the conglomerate Endowment Fund for the Rehabilitation of Tigray. He has amassed hundreds of millions of dollars through his political affiliations and his business dealings through TPLF.

Nega was one of the most powerful men in Ethiopia. At one point, he was considered even more powerful than the late Meles Zenawi, the one-time prime minister.

7. Seyoum Mesfin – $1.8 Billion

He is presently the Ethiopian ambassador to China. He was previously in the position of foreign affairs minister where he had a lot of power over trade. He has been chairman of Ethiopian Airlines.

His power in the Ethiopian cabinet along with the airlines helped him smuggle a lot of drugs within Africa and Asia. He is the richest drug lord in Africa with a long criminal history of selling illegal drugs. 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.

8. Samuel Tafesse – $1.6 Billion

Source: Construction and Real Estate

Samuel Tafesse is one of the most famous businessmen in Ethiopia. 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.

Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. This includes the landmark Marriott Executive Apartments in Addis Ababa.

Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government.

The company has more than 3,000 employees. Its milestones over the past 34 years have enabled it to build a reliable capacity and exhibit practical excellence in the construction sector.

Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopia’s construction sector. He has also launched other businesses and philanthropic entities under Sunshine Investment Group.

With annual revenue of more than $100 million, Ethio Biography places his net worth at $1.6 billion.

9. Abay Tsehaye – $1.5 Billion

He is a politician from the ruling party in Ethiopia. He has enough influence inside the party because he is a veteran there. That is one reason he has made a lot of connections and made a lot of worth to the country’s economy.

He has also invested in various sectors of business that have made the work simpler for him to gain profits. The shares from the company have made her present estimated worth of about $1.5 billion. He is extremely influential in the country.

10. Belayneh Kindie

Source: Diversified

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.

Since its founding in 2005, the company has grown into one of the country’s largest exporters of sesame seeds and a leading Ethiopian agricultural commodities trader.

Recently, it has evolved into a prominent corporate group in the country through BK Business Group.

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.

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