Meet five ultra-wealthy entrepreneurs from the Republic of Congo 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.
Claude Wilfrid Etoka
Source of wealth: Oil
Claude Wilfrid Etoka, popularly known as “Willy Etoka” started off in business in the mid-1990s by importing tires into the Congo through his company Delta Marine. In 2004, he launched SARPD Oil to trade in petroleum products. SARPD Oil now reportedly controls 60 percent of Congo’s fuel imports and has an active presence in most French-speaking countries in Africa. Etoka also owns Eco Oil Energy S.A., an edible oils company.
Paul Obambi
Source of wealth: Mining
Paul Obambi, 67, is the founder and chairman of Sapro Group, one of the largest conglomerates in the Congo with 14 subsidiaries covering most of the country’s key business sectors. His Sapro Mayoko is engaged in the exploration and exploitation of iron ore in the Niari region, and also mines deposits of iron ore, potassium and manganese. His Sapro Oil imports more than 10 percent of the country’s fuel consumption and he also owns PVC manufacturer Sapro Plastique, three bottling plants run by Sapro Boissons and soap manufacturer Sapro Savons. In telecom, he owns a large stake in Azur Telecom, a subsidiary of Bahrain-based telecommunications group, Bintel.
Lucien Ebata
Source of wealth: Oil trading
Lucien Ebata is the founder and CEO of Orion Group S.A., a multinational business investing and trading in oil. Its core business is providing crude oil and refined products. The company delivers more than 1.2 million metric tonnes of fuel products every year and recorded $1.8 billion in revenue in 2021. He is also the publisher of Forbes Afrique. He is a special adviser to the president and holds a diplomatic passport and a letter of mission signed by the Congolese head of state.
Raymond Ibata
Source of wealth: Insurance
Ibata is the founder of Assurances et Réassurances du Congo (ARC) – the largest insurance company in the country. ARC reportedly controls more than 50 percent market share of the general insurance market in the Congo republic.
Wilfrid Nguesso
Source of wealth: Logistics
Wilfrid Nguesso is the CEO and majority owner of Copremar, a $26-million (annual revenue) Congolese company providing offshore and port logistical services to the African maritime industry. Copremar, which was founded in 2014, is based at Pointe-Noire in the Republic of Congo and specializes in towing offshore terminals, as well as providing port and operations assistance and operates at the Djeno Terminal. Copremar’s client base includes the principal oil exploration companies and major international ship owners from around the world.
