Ghana might not be the richest country in Africa (Nigeria has been hanging on to that particular crown for the past few years) but it’s far from the poorest either. Most of its wealth is derived from its natural resources, with the export of cocoa and gold contributing mightily to its GDP. But how the country makes its money is one thing. How its wealthiest folk make theirs is another. So, how exactly does Ghana’s 1% earn their fortunes? Find out as we rank the 10 richest people in Ghana.
10. Awuah-Darko Family Net Worth – $650 Million
Kicking off our list is the Awuah-Darko Family. The family’s wealth is derived from Vanguard Assurance, a leading Ghanaian insurance company established by family patriarch Nana Awuah Darko Ampem. When Nana died in 2005, his family inherited his majority stake in the business. Collectively, they’re worth an estimated $650 million.
9. Kwabena Duffuor Net Worth – $680 Million
Up next with a net worth of $680 million is Kwabena Duffuor. After completing his education, Duffuor made the highly lucrative move into banking. According to Wikipedia, he began his career at Ghana Commercial Bank in 1969. He swiftly rose through the ranks to become the Chief Economist. By 1995, he’d been appointed Deputy Governor of the Bank of Ghana; two years later, he was promoted to the position of Governor. During his tenure, he implemented numerous reforms credited with transforming the bank’s fortunes. For his efforts, he was awarded an honorary fellowship by the Institute of Bankers in Ghana. After leaving the bank, he served as the Finance Minister of Ghana from 2009 to 2013. These days, his income comes from his position as the founder and chairman of HODA Holdings, a conglomerate with interests in real estate, media, banking, mining, and farming.
8. Kalmoni Family Net Worth – $700 Million
The second family to feature on our list is the Kalmoni Family. Comprising of Jalal, Salem, Nouhad, and Salah, the family has a collective net worth of $700 million. They can thank their fortune on their late grandfather Salem Kalmoni, a Lebanese immigrant who moved to Ghana shortly before World War I. After arriving in the country, Kalmoni established a trading company named Kalmoni and Sons. After branching into the automotive industry, the company was renamed Japan Motors in 1965. According to erackom.com, Japan Motors is now the sole dealer of Nissan in Ghana, giving it a 26 percent share of all new vehicle sales in the country. As the sole distributor of Yamaha, it also commands 80% of Ghana’s motorbike trade.
7. Patricia Diaby Net Worth – $720 Million
The 7th richest person in Ghana is Patricia Diaby. Diaby began her career in her family’s transportation business but later branched out on her own when she founded Plot Enterprise Group, a cocoa processing enterprise that exports its products across the world. She now ranks as the richest woman in Ghana with a net worth of $720 million.
6. Irani Family Net Worth – $800 Million
Up next is the Irani family, a pair of brothers by the name of Anthony and Edmund that clacified.com estimates to be worth in the region of $800 million. The source of their wealth is The Irani Brothers and Other Limited, a flour manufacturing company founded by the brothers in 1967. As well as being responsible for over 60 percent of all wheat production in Ghana, the company ranks as one of the leading wheat exporters in West Africa.
5. Alhaji Mohammed Ahmed Odaymat Net Worth – $850 Million
With a net worth of $850 million, Alhaji Mohammed Ahmed Odaymat ranks as the 5th richest person in Ghana. Odaymat began his career in Toyota Ghana before deciding to go into business for himself. He now sits at the head of the Rana Motors Group, which controls a vast portfolio of companies that includes Highland Springs, BBC Industries, and Rana Motors. He also serves as the chairman of IPMC, a leading IT skills and services provider that’s been credited with shaping the IT infrastructure industry across Ghana.
4. Ibrahim Mahama Net Worth – $860 Million
Up next is Ibrahim Mahama, the youngest brother of the former President of Ghana, John Dramani Mahama. After completing his education in the UK, Mahama returned to Ghana to launch Engineers & Planners, a company with interests in mining, construction, and consultancy. He also holds stakes in Asutsuare Poultry Farms and Dzata Cemen. Outside of his business activities, Mahama is a noted philanthropist and is recognized for his longstanding support of Ghana’s most deprived communities. Following his mother’s death from breast cancer, he’s worked to promote cancer awareness and research through his foundation, the Joyce Tamakloe Cancer Foundation. His current net worth is estimated to be $860 million.
3. Nabil Moukarzel Net Worth – $900 Million
With a net worth of $900 million, Nabil Moukarzel ranks as the third richest person in Ghana. His wealth comes courtesy of being the largest shareholder in Finatrade, one of the leading distributors of agri-commodities and consumer products in West Africa. Its subsidiaries include Continental Commodity Trading Company, Akuafo Adamfo, Ghana Market Direct Ltd, and Sucatrade.
2. Sam Jonah Net Worth – $1.2 Billion
Ghana has many millionaires, but just two billionaires. The first is Sam Jonah. Jonah began his career as a miner for the Ashanti Goldfields Corporation, exchanging his skills for an engineering scholarship at Exeter University in the UK. After completing his studies, he returning to the company, where he quickly went from mining to management. In 1986, he was appointed to the position of CEO. Over the coming years, Jonah oversaw the company’s growth from a minor operation into a major multinational. In 2004, he became the Executive President of AngloGold Ashanti Ltd when AngloGold Limited merged with Ashanti. In recognition of his achievements, Jonah has been decorated with numerous honors, including an Honorary Knighthood as Knight Commander of the Civil Division of the Most Excellent Order of the British Empire (KBE) and the title of Companion of the Order of the Star. His net worth is believed to be $1.2 billion.
1. Ernesto Taricone Net Worth – $1.3 Billion
Topping our list of the richest people in Ghana is Ernesto Taricone. Taricone’s immense wealth is derived from the Trasacco Group, a multinational conglomerate founded by Tarione with interests in everything from mining and construction to real estate development and Agro-business. Its subsidiary, Trasacco Estate Development Company, is the leading property developer in Ghana. The Italian-born businessman is believed to be worth a mammoth $1.3 billion.