The primary driver behind this surge is attributed to the robust performance of his diverse industrial assets across Sweden, Saudi Arabia, and …
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Ethiopia
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Forbes acknowledged Ashenafi’s financial prowess in 2017, listing him among the wealthiest individuals in Ethiopia.
- Horn of Africa
Ethiopia’s richest man Mohammed Al-Amoudi secures spot among world’s 300 richest individuals
Apart from his stake in Preem, Al-Amoudi maintains shares in Midroc Gold, Svenska Petroleum Exploration, Samir, and Okote Gold.
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In an effort to unlock value from his early investments, Al-Amoudi is presently exploring the sale of his interest in Preem.
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As one of the largest investors in Sweden, Al-Amoudi owns Preem, Svenska Petroleum Exploration, and Midroc Europe.
- Horn of Africa
Ethiopia’s richest man Mohammed Al-Amoudi makes shocking comeback on Bloomberg’s 500 richest list
The recent upswing in Al-Amoudi’s wealth follows a temporary exit from the Bloomberg Billionaires Index.
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Its $90-million investment in Ethiopia has helped solidify its position in the country.
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NCBA Group is partially owned by the super-rich Kenyatta, Merali, and Ndegwa families.
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His net worth fell after Preem, Sweden’s largest oil refiner, reported a 31-percent drop in revenue.
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Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands.
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