Somali mogul Ismail Ahmed shocks industry as Zepz surpasses $800 million in funding
Zepz has continued to thrive, with its total funding increasing from $699.7 million to $800 million in two years.
Horn of Africa
Ethiopia’s wealthiest man Mohammed Al-Amoudi gains $111 million in 34 days
Al-Amoudi is worth $5.57 billion, making him the 470th richest man in the world.
Forbes list reveals 19 African billionaires, up from 18, despite $3.1-billion wealth dip
African billionaires continue to symbolize the continent’s economic growth.
Ethiopia’s wealthiest man Mohammed Al-Amoudi experiences billion-dollar loss in 2022
Al-Amoudi remains one of the wealthiest individuals in Africa.
Ethiopia’s richest man Mohammed Al-Amoudi gains $420 million in 11 weeks
Al-Amoudi is now ranked 443rd on the Bloomberg Billionaires Index.
Aliko Dangote’s Dangote Cement has invested more than $90 million in its Ethiopian unit
Its $90-million investment in Ethiopia has helped solidify its position in the country.
Ethiopian billionaire Mohammed Al-Amoudi gains $340 million in 51 days
Al-Amoudi derives the majority of his wealth from Preem, Sweden’s largest oil refiner, and Svenska.
Somali tycoon Abdirashid Duale’s Dahabshiil donates $500,000 to families affected by Mogadishu bombing
Duale is known for his charitable donations and habit of assisting Somalis in times of need.
Ethiopian billionaire Mohammed Al-Amoudi gains $130 million in 30 days
Al-Amoudi derives the majority of his fortune from Preem and Svenska Petroleum Exploration.
Somali tycoon Ismail Ahmed’s Zepz to end 2022 in profit
Zepz reported a loss of $151 million at the end of its fiscal year in 2021.
Somali tycoon Abdirashid Duale says cost of living crisis has hurt remittances in Africa
Under the leadership of Duale, Dahabshiil has grown into the largest money transfer business in Africa.
Ethiopian billionaire Mohammed Al-Amoudi’s net worth slumps by $520 million in September
The decline in his net worth brings his year-to-date wealth loss to $1.61 billion.
Ethiopia’s richest man Mohammed Al Amoudi has now lost $1.45 billion so far in 2022
Al-Amoudi still remains Ethiopia’s richest man and one of Africa’s wealthiest businessmen.
Somali tycoon Abdirashid Duale’s Dahabshiil says diaspora remittances to boost regional economy
Diaspora remittances are a lifeline for many people in the Horn of Africa
Ethiopian billionaire Mohammed Al Amoudi’s wealth slumps after earning $230 million in July
His net worth fell in the first two weeks of August by $140 million.
Ethiopia’s wealthiest man Mohammed Al-Amoudi gains $230 million in July; net worth nears $6 billion
The increase in his net worth follows a $1-billion wealth loss in the first half of 2022.