Ethiopia’s richest man Mohammed Al-Amoudi loses $260 million in two weeks
This follows a $320-million gain in Al-Amoudi’s net worth between March 28 and April 12.
Horn of Africa
Ethiopia’s richest man Mohammed Al-Amoudi’s Preem posts $12.6-billion revenue in 2023
Al-Amoudi derives a significant portion of his wealth from his stake in Preem, which surged from $3.74 billion on Jan. 1 to $3.88 billion recently.
Ethiopia’s richest man Mohammed Al-Amoudi gains $320 million in 15 days
The recent uptick in his fortune is mainly credited to the strong performance of his broad industrial investments in Sweden, Saudi Arabia, and Ethiopia.
Ethiopia’s richest man loses $100 million in just 6 days
Ethiopia’s richest man Mohammed Al-Amoudi’s net worth has declined by $100 million in just six days, the latest setback in a string of wealth declines.
Ethiopia’s richest man Mohammed Al-Amoudi loses $160 million in 3 weeks
Al-Amoudi’s fortune has dwindled from $9.29 billion on Feb. 25 to $9.13 billion.
U.S. firm Vaalco Energy in talks to acquire oil company of Ethiopia’s richest man
For Mohammed Al-Amoudi, this potential deal represents an opportunity to derive further value from his investments in the oil and gas industry.
Ethiopia’s richest man Mohammed Al-Amoudi gains $130 million in two weeks
The surge in his fortune propels Al-Amoudi to 259th place on the prestigious list of the world’s 500 wealthiest billionaires.
Ethiopian banker Dereje Zebene-led Zemen Bank secures $30-million facility from IFC
Zemen Bank, established in 2008, has emerged as a key player in Ethiopia’s financial services industry.
Ethiopia’s richest man Mohammed Al-Amoudi gains $220 million within 72 hours
The primary driver behind this surge is attributed to the robust performance of his diverse industrial assets across Sweden, Saudi Arabia, and Ethiopia.
5 companies owned by Somali businessman Ismail Ahmed
Ismail Ahmed is more than just a titan of the fintech industry. He’s a visionary leader, a philanthropist, and a testament to the power of perseverance.
Meet Ismail Ahmed: Somali tycoon leading $5-billion payment platform, Zepz
Ahmed’s dedication to financial inclusion transcends the confines of Zepz, positioning him as a true agent of change on the international stage.
Somali businessman Abdirashid Duale’s Somtel launches Somali’s first 5G network
Duale emphasized that this move aligns with the vision for a tech-driven future, positioning the region for increased foreign investment and a flourishing tech scene.
Ethiopia’s richest man Mohammed Al-Amoudi gained $3.59 billion in 2023
The $3.6-billion surge in Al-Amoudi’s fortune represents a daily average gain of $10 million throughout the year.
Ethiopia’s richest man Mohammed Al-Amoudi gains $170 million in 15 days
The primary driver behind this surge is attributed to the robust performance of his diverse industrial assets across Sweden, Saudi Arabia, and Ethiopia.
5 companies owned by Ethiopian businessman Tewodros Ashenafi
Forbes acknowledged Ashenafi’s financial prowess in 2017, listing him among the wealthiest individuals in Ethiopia.
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.