5 multimillionaires from Mozambique you’ve never heard of

Meet five ultra-wealthy Mozambican entrepreneurs who are individually worth $30 million or more. Each person has founded, owns and runs businesses with proven annual revenues of eight figures or more. Their names don’t ring a bell with the African public, and you’ve probably never heard about them before, but you should probably know them.

Salimo Abdula

Source of wealth: Diversified

Salimo Abdula is the founder of Intelec Holdings Group, one of Mozambique’s largest conglomerates, with interests in agriculture, construction, energy, finance, mining, telecommunications and textiles. Abdula is also one of the largest shareholders of Vodacom’s operations in Mozambique and sits on the company’s board. He is also one of the largest shareholders of Banco Único, one of the major commercial banks in the country.

Mhamud Charania

Source of wealth: Food manufacturing

Mhamud Charania founded Merec Industries SA in 1998 and built it into Mozambique’s largest manufacturer of wheat-based food products, with more than $60 million in annual revenue. The company began operations in wheat milling and later moved into production of wheat-based goods. Wheat milling, maize milling, pasta, cookies, and animal feed are among the company’s five product lines. Merec has a 36-percent market share in the wheat milling business and the region’s largest milling capacity outside of South Africa.

Fernando Amado Couto

Source of wealth: Port Services

Fernando Amado Couto, one of Mozambique’s most-revered business leaders, is the CEO and largest shareholder of Portos do Norte, a private company that manages and operates the Port of Nacala. Portos do Norte is responsible for the management of terminals and movement of all types of cargo in the Nacala Port, which is one of the largest on the East African coast.

Apolinario Pateguana

Source of wealth: Investments

Apolinario Pateguana is the founder of AP Capital, an investment holding. Pateguana established the firm in Mozambique in 2007 as an investment advisory firm with the primary focus on helping facilitate the entry of multinational companies into Mozambique. AP Capital subsequently transited into investing its own capital in fast-growing companies and today controls a blue-chip portfolio that includes Vodacom Mozambique and InterAfrcon, Mozambique’s leading oil and gas equipment distributor.

Rogerio Samo Gudo

Source of wealth: Technology

Rogerio Samo Gudo is the co-founder and president of Escopil Internacionale, one of Mozambique’s largest technology companies. The company is best known for developing and maintaining the Single Electronic Window, which helps the government collect taxes from imports and exports in Mozambique, the driving license and motor vehicle registration system, and the voters registration digital system. The company has annual revenues of more than $40 million and over 200 employees.