As one of the fastest-growing economies in the world, Ethiopia is on its way to becoming an important hub for global commerce.
The Ethiopian men and women who have spearheaded the country’s phenomenal growth stem from various backgrounds, ethnicities, and religions.
For most, the journey to becoming one of the richest Ethiopians was not an easy one, but through an undying obsession to become successful, these people have reached their goals.
For various reasons, such as political, economic, etc., Ethiopians have spread out as Diaspora all over the globe.
Many of these men and women have also achieved exceptional success and are deserving of being included in the list of the richest Ethiopians. Ethiopians are known to be hard workers and passionate about their chosen endeavors.
Add to this innovativeness and the ability to make something from nothing, and you have the recipe that makes the following list of the richest Ethiopians.
Without putting them in any proper order, lets begin the list.
Note: Money quoted is in USA Dollars
10. Suhura Ismail Khan – USD $230 Million
Suhura Ismail Khan was born in the 1960’s in the Somali region city of Jijiga in the eastern part of Ethiopia. Following the line of work her parents were in, Suhura upon growing older began her own small business khat dealership.
As a khat street vendor, her profits were very small until she began to explore the bus iness opportunities in the neighboring country of Somaliland.
Over 80% of the people in Somaliland are avid chewers of khat, but due to the harsh climate in the region, the cultivation of khat is not possible, leaving them dependent on Ethiopian khat.
Taking advantage of this huge business opportunity, Suhura was able to quickly expand her business in an explosive manner.
Today, Suhura runs her khat empire from Jijiga with thousands of employees, a multitude of transport trucks, and even an airline of her own (Suhura Airways).
She controls over 50% of the khat market in Ethiopia and is also a leader in global sales of the product.
By 2008, Suhura would pay 37,000,000 USD or 999,000,000 ETB in taxes to the Ethiopian government.
Having ten children, Suhura planned to retire from her business and go on an extended pilgrimage in 2010, but her 4 eldest sons managed to incur losses of up to 1,000,000 Euros in a short period of time.
Seeing this unfortunate management crisis, Suhura returned to the helm of the business.
By 2011, Suhura was selling between 30-40 tons of khat every day and was also using Ethiopian embassies and consulates as a means of organizing sales worldwide.
She has been named Ethiopian Entrepreneur of the Year several times and her accolades in her industry prove that Suhura Khan is one of Ethiopia’s richest people.