10 richest people in Ethiopia

Ethiopia, East Africa’s economic powerhouse, has witnessed rapid growth geared by empires and business groups of Ethiopia’s richest entrepreneurs over the last two decades, emerging as a hub for agriculture, energy, construction, and manufacturing. 

Amidst political uncertainty and developmental challenges, a select group of business moguls has leveraged strategic investments, resilience, and global partnerships to build empires that drive the nation’s economy. 

These entrepreneurs are not just wealth creators; they are influencers shaping industries, generating employment, and positioning Ethiopia on the global investment map. 

From energy tycoons to real estate magnates and sports legends turned business icons, Ethiopia’s richest illustrate the convergence of ambition, innovation, and social impact. 

Their ventures span critical sectors, including Mohammed Al-Amoudi’s energy and mining dominance, Samuel Tafesse’s landmark real estate projects, and Haile Gebrselassie’s hospitality and lifestyle brands, all contributing to modernizing infrastructure, enhancing tourism, and supporting local communities. 

Despite market volatility, regulatory hurdles, and political risks, these businessmen have shown remarkable resilience, diversifying portfolios while expanding influence beyond Ethiopia’s borders. 

Shore.Africa spotlights the 10 wealthiest entrepreneurs whose vision, capital, and strategies define the trajectory of Ethiopia’s economic future.

1. Mohammed Al-Amoudi
Industry: Energy, Construction, and Mining
Ethiopia’s richest entrepreneur, Mohammed Al-Amoudi, is worth $9.26 billion. His empire spans energy, real estate and agriculture across Sweden, Saudi Arabia and Ethiopia, owning Preem, Svenska Petroleum and Midroc Europe; Naft Services (235 stations, $326 million stake); and Midroc Gold and the Okote project. His investments extend to Saudi Arabia and Sweden, blending regional influence with global reach. Al-Amoudi has played a pivotal role in industrializing Ethiopia, financing infrastructure projects, and promoting local industries, while maintaining diversified holdings that cushion against economic volatility and geopolitical risks.

2. Samuel Tafesse
Industry: Real Estate, Construction, and Infrastructure
Samuel Tafesse’s Sunshine Investment Group, founded in 1983, has delivered 5,000+ properties, including Ethiopia’s first Marriott Executive Apartments, and built thousands of miles of roads. Generating more than $100 million annually, the firm expands in infrastructure and hospitality, while Tafesse funds education and healthcare for underprivileged communities nationwide. Beyond construction, Tafesse invests in healthcare and education initiatives, demonstrating a blend of business acumen and philanthropy, which has earned him recognition as a key driver of Ethiopia’s urban development.

3. Eyob “Joe” Mamo
Industry: Petroleum, Real Estate, Sports Investments
Eyob “Joe” Mamo, CEO of Capitol Petroleum Group, commands major D.C. and NYC gas stations, developed Virginia’s landmark The View at Tysons, and co-owns MLS club D.C. United, cementing Ethiopia’s global business reach across energy, real estate, and sports. Eyob Mamo controls 41% of gas stations in Washington, D.C., while expanding domestic ventures in Ethiopia. His investments in energy infrastructure and property development reinforce his strategic approach to wealth creation, marrying international operations with domestic growth opportunities, and positioning him as a transcontinental business influencer.

4. Belayneh Kindie
Industry: Agriculture, Manufacturing, Hospitality, Transportation, and Construction
Belayneh Kindie began trading butter and honey with under $1,000. Today, as head of Belayneh Kindie Group, he oversees Ethiopia’s top agricultural exporter, with $600M revenue, diversified into transportation, construction, hospitality, manufacturing, and the Phibela Industrial Complex, employing 3,000+ and shaping the nation’s economy. Kindie’s commitment to sustainable farming and local manufacturing reflects a vision of combining profitability with social impact, making him a notable figure in Ethiopia’s agribusiness sector.

5. Azeb Mesfin
Industry: Energy, construction, real estate, politics
Widow of former Prime Minister Meles Zenawi, Azeb Mesfin wields political influence alongside her diverse holdings in energy, construction, and real estate. Her investments leverage strategic relationships to expand influence and scale businesses across multiple sectors, showcasing the intersection of politics and enterprise in Ethiopia’s wealth ecosystem.

6. Tewodros Ashenafi
Industry: Energy, Consumer Goods, and Real Estate
Tewodros Ashenafi, founder of Ethiopia’s first indigenous oil firm SouthWest Energy, leads SouthWest Development and Africa Energy Services, co-owns Ambo Mineral Water (now Coca-Cola Beverages Africa), and orchestrated the $1.4 billion National Tobacco privatization. He sits on the EastWest Institute and Atlantic Council boards, shaping global business and policy. His portfolio emphasizes renewable energy projects and industrial development, demonstrating a forward-looking approach to Ethiopia’s economic modernization while maintaining diversified revenue streams.

7. Buzuayehu T. Bizenu
Industry: Manufacturing, real estate, Agriculture, Mining
Buzuayehu Bizenu, Ethiopian entrepreneur, founded East African Holding, a sprawling industrial conglomerate spanning FMCG, agro-processing, cement, coal, real estate, transport, and packaging. His subsidiaries include National Cement S.C., East African Tiger Brands Plc, and East African Agri-Business Plc. He launched Ethiopia’s first private industrial park and champions CSR via his foundation. His ventures focus on industrial-scale agro-processing and urban development projects. Bizenu’s strategy emphasizes long-term infrastructure investments that catalyze local employment and strengthen Ethiopia’s industrial base, solidifying his position among the nation’s wealthiest.

8. Alemayehu Ketema
Industry: Construction, Real Estate, Manufacturing, and Hospitality
Alemayehu Ketema, founder of Alemayehu Ketema General Contractor (1989), has shaped Ethiopia’s infrastructure with landmark roads and bridges, including Warie-Ridge-Adwa and Shashemene-Dodola projects. Diversified across real estate, manufacturing, and hospitality, he commands about $400 million fortune, cementing his status among Ethiopia’s most influential business leaders.

9. Haile Gebrselassie
Industry: Hospitality, Automotive, Agriculture, and Real Estate
Haile Gebrselassie, Ethiopia’s legendary distance runner, has built a formidable business empire. The legendary athlete turned entrepreneur, owns luxury hotels, Haile Resorts, co-owns Marathon Motors Engineering with Hyundai Motor Company, oversees EV assembly, and invests in coffee, real estate, fitness and cinemas, while championing education and athletics through the Great Ethiopian Run, Africa’s largest road race. He leverages his global profile to expand Ethiopia’s hospitality and automotive sectors, while fostering tourism and creating jobs. Gebrselassie exemplifies the transition from sports icon to business leader with lasting social and economic impact. 

10. Tekleberhan Ambaye
Industry: Construction, infrastructure and industrial
Founder of TACON, one of Ethiopia’s largest construction firms, Tekleberhan Ambaye specializes in infrastructure and real estate development. His projects contribute to modernizing urban centers and supporting economic growth, highlighting the role of private enterprise in Ethiopia’s construction and industrial sectors.