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Top 15 Richest Ethiopians & Their Successful Companies in 2019

2. Tewodros Ashenafi 

Tewodros Ashenafi born in 1969 is a highly educated and enterprising individual that has brought significant changes in the Ethiopia’s energy sector.

With a degree in economics from Columbia University as well as an alumnus of the world renowned Harvard Business School, Tewodros well versed in the ways of international business would bring his knowledge to Ethiopia, after holding prominent positions in the west.

Beginning his career with Merril Lynch & Co. in New York, Tewodros would go on to be a consultant for large multinational corporations looking to invest primarily in South America and the Commonwealth of Independent States. 

Tewodros also sits on a multitude of boards, think tanks, as well as, being a winner of international awards. Some of them include Columbia University’s Africa Center Advisory Board, Atlantic Council International, New York’s East West Institute, Initiative for Global Development, and was the winner of Young Global Leader (World Economic Institute).

By2016, Tewodros would play a vital role in one of Africa’s largest private sector business transactions.

As a local partner in Ethiopia for Japan Tobacco International, they would go on to close a deal for 1,400,000,000 USD for the 40% acquisition of Ethiopia’s National Tobacco Enterprise.

This billion dollar deal is Ethiopia’s largest ever privatization agreement.

In addition to this, Tewodros would become the Chairman and CEO of SouthWest Energy, the first and only local oil and gas organization.

This company would be supplemented with SouthWest Development which gives services to companies engaged in the oil and gas industry in Ethiopia.

Always one to keep an eye out for opportunities, Tewodros would also become chairman of Ambo Mineral Water, one of Ethiopia’s largest beverage brands.

A billionaire in his own right, Tewodros Ashenafi, one of Ethiopia’s richest, is without a doubt, a significant contributor to the current explosive growth of Ethiopia.

3. Tekleberhan Ambaye

richest ethiopians tekleberhan ambaye

Tekleberhan Ambaye (Eng) began his rise to greatness in 1993, registering his self named TACON or Tekleberhan Ambaye Construction Plc., with the initial capital of 5,000 ETB or 185 USD. 

The company today employs over 2,500 people with a dozen projects with contract values in the range of 5,000,000,000 ETB or 186,000,000 USD.

Tekleberhan has also opened up Edna Mall, housing a modern movie theater, and one of only two countries in Africa that receive Hollywood movies directly upon their release.

His company TACON was also the first Ethiopian construction company to qualify for the International Standardization Organization or ISO. Tekleberhan Ambaye is an industry leader and one of Ethiopia’s richest men.

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