Insight

• Dimunayo Tengi
• 6 Min Read

Ethiopia Billionaires: The Top 10 Richest Men In Ethiopia

Ethiopia, one of Africa’s fastest-growing economies, has seen remarkable strides in infrastructure, industrialization, and entrepreneurship over the past few decades. This progress has paved the way for a class of powerful businessmen who have not only amassed vast personal fortunes but have also significantly impacted the country’s development. These individuals operate in a wide range of sectors, including construction, energy, agriculture, logistics, and finance. Their efforts have helped create jobs, improve infrastructure, and attract foreign investment to Ethiopia.

This article highlights the top 10 richest men in Ethiopia as of 2025, spotlighting their estimated net worth, business ventures, and the industries in which they operate. These men are more than just wealthy—they are pillars of the Ethiopian economy and influential figures in the broader East African region.

1. Mohammed Hussein Al Amoudi – Estimated Net Worth: $10.3 Billion

Mohammed Hussein Al Amoudi is not only the richest person in Ethiopia but also one of the most prominent businessmen in Africa. Born to an Ethiopian mother and Yemeni father, Al Amoudi has built an immense fortune through his investments in construction, mining, oil, real estate, and agriculture. His conglomerate, MIDROC Ethiopia, has a major presence in Ethiopia’s economy and is one of the country’s largest employers.

Al Amoudi also owns significant assets abroad, particularly in Saudi Arabia and Sweden, where he operates in oil refining and real estate. In Ethiopia, he has funded key projects such as gold mining in the Oromia region and large-scale agricultural ventures. His role in the Ethiopian economy is enormous, with his investments spanning nearly every critical sector.

2. Eyob “Joe” Mamo – Estimated Net Worth: $2.5 Billion

Eyob Mamo, popularly known as “Joe,” has earned his wealth primarily in the fuel distribution industry in the United States. As the founder and CEO of Capitol Petroleum Group, he owns a large number of gas stations across the Washington, D.C. area. Over time, he has used his wealth to diversify his portfolio, expanding into real estate, energy, and hospitality—both in the U.S. and Ethiopia.

Joe Mamo’s return to the Ethiopian market has been characterized by strategic investments in infrastructure and energy. His contributions have helped address Ethiopia’s growing need for modernized energy solutions, while also reinforcing his commitment to supporting economic development back home.

3. Azeb Mesfin – Estimated Net Worth: $4 Billion

Azeb Mesfin, the widow of former Ethiopian Prime Minister Meles Zenawi, has long been associated with significant financial and political influence in the country. She has investments across various sectors, including manufacturing, real estate, and possibly telecommunications.

Her involvement in public life and business has been the subject of both admiration and controversy. Regardless, Azeb Mesfin remains one of the wealthiest and most powerful women in Ethiopia. Her ability to maintain and grow her financial empire underscores her business acumen and connections in high-level circles.

4. Samuel Tafesse – Estimated Net Worth: $1.6 Billion

Samuel Tafesse is a celebrated real estate mogul and the founder of Sunshine Investment Group, a company that has developed numerous commercial and residential properties throughout Ethiopia. Samuel’s company was among the first private enterprises to build international-grade hotels and mixed-use complexes in Addis Ababa.

His work in the construction and hospitality sectors has made him a household name and a symbol of modern Ethiopian entrepreneurship. Tafesse’s projects have also contributed significantly to urban development in the capital, creating employment and raising building standards in the industry.

5. Buzuayehu Tadele Bizenu – Estimated Net Worth: $730 Million

Buzuayehu Tadele Bizenu, the visionary behind East African Holding, has built one of the most diversified business empires in Ethiopia. His company operates in various sectors such as manufacturing, FMCG (fast-moving consumer goods), agriculture, and logistics.

East African Holding is known for producing some of Ethiopia’s most popular household brands and is actively involved in food processing, soap manufacturing, and packaging materials. Buzuayehu’s forward-thinking approach has enabled his company to not only dominate the domestic market but also expand its footprint across East Africa.

6. Mulu Solomon – Estimated Net Worth: $520 Million

Mulu Solomon is a trailblazer, being the first female president of the Ethiopian Chamber of Commerce and one of the most respected business figures in the country. She has carved out a space in the male-dominated business environment through sheer grit, intellect, and leadership.

Her ventures span consulting, logistics, agriculture, and education. Mulu has played a pivotal role in promoting entrepreneurship in Ethiopia, particularly among women and young people. Her wealth is a testament to her hard work and her ability to seize opportunities in a rapidly changing economic landscape.

7. Tewodros Ashenafi – Estimated Net Worth: $480 Million

Tewodros Ashenafi is the chairman and CEO of SouthWest Energy, a private Ethiopian oil and gas exploration company. With a degree in economics from Columbia University, Tewodros returned to Ethiopia with the goal of unlocking its natural resources. His company has acquired several blocks for oil exploration and has attracted foreign investors interested in Ethiopia’s energy sector.

Tewodros is also known for his role in the privatization of state-owned enterprises and as a strategic advisor to international firms looking to enter the Ethiopian market. His expertise in finance and his strong global network have made him a standout entrepreneur in the energy space.

8. Mamo Kacha – Estimated Net Worth: $440 Million

Mamo Kacha began with a single minibus and gradually built a nationwide transportation empire. His company has become one of Ethiopia’s largest providers of public and private transportation services. Mamo’s success story is an inspiring tale of determination, vision, and understanding the needs of everyday Ethiopians.

His fleet now includes hundreds of buses and trucks, and his services have been vital in improving Ethiopia’s internal mobility. Beyond transportation, he has also ventured into real estate and logistics.

9. Belayneh Kindie – Estimated Net Worth: $400 Million

Belayneh Kindie’s business journey started with humble beginnings in the trade of local agricultural products like honey and butter. Over time, he established the Belayneh Kindie Group, a conglomerate with interests in coffee export, manufacturing, hotel development, and real estate.

Kindie’s coffee export business is particularly noteworthy as Ethiopia is one of the world’s top coffee producers. His dedication to quality and ethical sourcing has won him both local and international clients. His story is a shining example of how a small trading operation can evolve into a multi-million-dollar enterprise.

10. Ketema Kebede – Estimated Net Worth: $350 Million

Ketema Kebede is the founder of KK Plc., a business conglomerate involved in agricultural exports, logistics, and the importation of construction equipment. His company is one of the largest exporters of Ethiopian spices, cereals, and coffee, contributing to the country’s foreign exchange earnings.

Through his efforts in agriculture and international trade, Ketema has helped connect Ethiopian farmers with global markets, increasing income opportunities in rural areas. He’s also active in building storage and processing infrastructure to modernize Ethiopia’s agricultural sector.

Summary Table: Richest Men in Ethiopia (2025)

Conclusion

These ten individuals exemplify the entrepreneurial talent and resilience that are helping to drive Ethiopia’s transformation. Their ventures stretch across critical sectors such as energy, agriculture, logistics, and real estate—industries that form the backbone of Ethiopia’s economic future. In addition to building personal fortunes, these businessmen are also responsible for generating employment, modernizing infrastructure, and contributing to national development.

As Ethiopia continues its journey toward industrialization and modernization, the influence of these tycoons is likely to grow. They are not only the wealthiest individuals in Ethiopia but also key players in shaping the nation’s destiny.