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Ten of the richest businessmen in Ethiopia — most of whom you’ve likely never heard of
Ethiopia is home to about 105 million people. However, less than 3,400 are ultra-high net-worth individuals.
Despite ranking only 29th in Africa by living standards and economic wealth, Ethiopia is a land of riches for thousands. It ranks fourth for private wealth held by individuals.
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.
Ethiopia has only one billionaire, 150 multimillionaires and 3,200 ultra-high net-worth individuals. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria.
A significant percentage of the country’s richest individuals are politicians. According to research conducted by Billionaires.Africa, here is a list of some of these wealthy people.
#1 Mohammed Al Amoudi
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