Ghana is home to some of the continent’s wealthiest individuals and has one of the greatest economies in West Africa. With its vast cultural, human, tourist, mineral, and other resources, it is one of Africa’s pride.
Ghana has been growing at a very decent annual pace since 2012 and is predicted to continue at the pace this year. Several people’s personal wealth has increased as a result of this expansion. It’s not surprising to discover some notable personalities termed “the richest men in Ghana” with big fortunes in a country as varied as Ghana.
In a list dominated by Nigerians, South Africans, Egyptians, and Moroccans, the country has yet to have one of its own among Africa’s top 10 richest men. In this piece, we’ll look at the ten wealthiest Ghanaian men, their occupations, and their current net worth. You’ll discover some interesting facts about each of them as well.
Top 12 Richest/Wealthiest Men In Ghana 2023
1. Ernesto Tarricone (has a net worth of $1.3 billion dollars): Ernesto Tarricone is now the wealthiest person in Ghana. He was born in Italy but became a United States citizen through naturalization a few years ago.
Tarricone opted to relocate to Ghana after seeing the potential in the Ghanaian economy. He made a variety of investments in various areas of the Ghanaian economy. Tarricone has been able to turn his income from millions to billions in just a few decades as the CEO and Executive Chairman of the Trasacco business.
His multiple businesses now employ approximately 4000 Ghanaians and expatriates, contributing to the Ghanaian government’s local content policy. He managed the creation of Trassaco Valley, which is home to some of Ghana’s most opulent buildings, as a civil engineer.
His investments are distributed across Ghana’s most profitable industries, such as mining, agriculture, real estate, construction, and so on.
2. Dr. Kwame Addo Kufuor (worth an estimated USD 1.2 billion): Former President John Kufuor’s brother is worth an estimated USD 1.2 billion. The medical doctor and politician insist that he is not wealthy, despite the fact that he owns a large number of expensive homes and has served as Minister of Defense in his brother’s administration.
For five years, Addo-Kufuor studied medicine at the University of Cambridge. He continued his studies in this discipline after completing his Bachelor’s degree at the Middlesex Medical School Hospital and Jesus College.
Despite his medical training, he never intended to pursue a career in medicine since his political ambitions overshadowed his desire to practice medicine. Addo-Kufuor is the current president of the Ghana Chamber of Mines.
3. John Mahama (with a net worth of $900 million): John Mahama is rated third among Ghana’s top ten wealthiest people. He became President of Ghana in 2012, following Atta Mills, who died in office.
Mahama started his career as a writer, historian, and communications expert.
During his political career, he has held positions such as Minister of Communications, Deputy Minister of Communications, Member of the Ghanaian Parliament, and Vice President of the country.
Before taking on any of these political responsibilities, Mahama worked as a secondary school history teacher.
4. Mohammed Ahmed Odaymat (net worth of $850 million): With a net worth of $850 million, Alhaji Mohammed Ahmed Odaymat is one of the richest men in Ghana on the list of top richest men in Ghana.
Mohammed Ahmed Odaymat was born in Ghana but is of Lebanese ancestry. Before purchasing the BBC Industrial Company in 1978, he worked for Toyota Ghana.
He is the current chairman of IPMC, a firm that focuses on expanding the region’s digital economy through systems integration, software development, and IT skill-building initiatives.
Other businesses he founded, such as Rana Motors & Metal Works Engineering Co. Ltd., provided other streams of revenue that allowed Mohammed Ahmed Odaymat to build large net worth and become one of Ghana’s wealthiest individuals.
5. The Irani Brothers ($800 million of net worth): The Irani Brothers are well-known in Ghana today. For over two decades, they’ve been a household name, offering high-quality flour and pastries to the people of the country.
These brothers have achieved significant progress in Ghana, particularly in the flour sector, where they produce 55 percent of the country’s flour and pastries. Their economic influence on Ghana is so significant that it cannot be ignored.
The brothers’ company extended to include pastries after they achieved considerable success in the flour sector and mills.
This is due to the growing demand for pastries, which current businesses in the industry were unable to provide. The company now produces 200,000 metric tons of flour each year. Their domination in the flour market in Ghana is unsurpassed.
6. The Kalmonis (The net worth of the Kalmoni family is $700 million dollars): The family on our list is the Kalmonis, who are among the wealthiest Ghanaians.
The Kalmoni Family’s fortune is closely linked to Japan Motors, a big vehicle company with seven subsidiary firms, with a net value of $700 million. Kalmoni & Sons, founded in 1912 by the current Kalmoni family’s grandfather, is said to be the source of the current Kalmoni family.
7. Kwabena Duffuor (net worth is estimated to be $680 million USD): Kwabena Duffuor is a well-known Ghanaian politician who has held the positions of Finance Minister and Governor of the Bank of Ghana. Duffuor was commended for his work as Governor of the Bank of Ghana, where he introduced policies to help the country’s reserves grow.
As a result, the country’s economy progressively grew, reaching a peak in 1998. Duffuor was so good at what he did that during the IMF/World Bank’s Annual General Meeting, he was named one of the best central bank governors in the world. His charity works justify his riches, which ranks him among Ghana’s wealthiest individuals.
Before becoming such a prominent person in Ghana, he began his career at the Ghana Commercial Bank at the bottom of the organizational structure. When his abilities were acknowledged, he was promoted to the bank’s chief economist. In 1985, he worked part-time as an examiner at the University of Ghana.
Following his performance in his previous job, Duffuor was promoted as General Manager of the Ghana Commercial Bank’s London branch. He returned to Ghana in 1995 to serve as the Deputy Governor of the Bank of Ghana.
8. Sam E. Jonah, (worth is USD 650 million): His net worth is believed to be USD 650 million. Dr. Sam Jonah is the executive chairman of Jonah Capital. The company’s headquarters are in South Africa, and it engages in a variety of companies and endeavors, including mining, agriculture, oil, gas, real estate, and finance.
Dr. Jonah began his work in the early 1970s and joined Ashanti Goldfields in 1979, eventually advancing to the position of CEO. He led the firm to higher heights, making it the first African enterprise to be listed on the New York Stock Exchange.
Scharrig Mining, Equator Exploration Ltd, Uramin, Equinox Ltd, Range Resources, and Moto Goldmines Ltd are among the firms he serves on the boards of. He sits on the boards of Lonmin, Standard Bank of South Africa, Transnet, and Ashesi University, among others. He is also the former president of AngloGold Ashanti, a South African mining company.
9. Serge Bakalian (Net Worth of $460 Million): Notwithstanding his African heritage including Armenian ancestry, Bakalian is among Ghana’s wealthiest men. Bakalian got wealthy after inheriting his father’s flour mill company, unlike the majority of the people on this list who became billionaires through their own efforts.
Bakalian was able to take the firm to new heights after inheriting it by employing successful business methods that have resulted in millions of dollars in revenues.
Most people would believe he had it easy after inheriting such a large fortune from his father, but he deserves credit for increasing the company’s net worth in only a few years.
10. Dr. Kwesi Ndoum ($300 million in net worth): Dr. Kwesi Ndoum is one of the richest men in Ghana. He is a well-known businessman as well as a politician who has served in various capacities under Ghana’s several administrations.
He was a member of parliament for the Komenda-Edina-Eguafo-Abirem constituency and served as a minister of state in several positions in President Kufuor’s cabinet from 2001 to 2007.
He spent most of his life in the United States before becoming a well-known figure within Ghanaian society. For three years, he worked for North-Western Mutual Life Insurance Company as a Life Insurance Underwriter.
Ndoum swiftly rose through the ranks at the Blue Cross Blue Shield of Wisconsin after quitting his previous post owing to budgetary constraints.
After assisting British Deloitte & Touche in West Africa, Ndoum amassed the most of his money. Ndoum’s service to Ghanaian society was quickly recognized, and he was quickly rewarded with a public position as a member of Parliament in 2001. Ndoum is, without a doubt, one of Ghana’s wealthiest persons today.
11. Joseph Siaw Agyepong – $300 million: Dr. Joseph Agyapong is the CEO of a number of Accra-based businesses, including JA Plant Pool, Zoomlion, Jospong Group, and others. He also has some stakes in nearby African nations. He is thought to be valued around $300 million. Dr. Agyepong, a self-made millionaire, began his career with the modest selling of exercise books.
The company has expanded quickly. surpassing everyone’s expectations This inspired him, and in 1997, Agyepong invested his profit from the exercise book business back into the company. He then started a printing press named Jospong Printing Press in a tiny room in Jamestown, an Accra suburb. That provided the foundation for his success story. Due to his diligence, Agyepong now controls roughly 32 businesses, mostly in the oil and gas, mining, construction, and real estate sectors.
12. Haruna Iddrisu – $300 million: Ghana’s Minister of Employment and Labor Relations, Haruna Iddrisu, is a member of parliament representing Tamale South. The Honorable Haruna Iddrisu is a lawyer who has a bachelor’s degree in sociology. He has served as the National Youth Organizer for the ruling National Democratic Congress (NDC) Party since 2002 in addition to being a member of the Ghana Bar Association.
Although the origins and specifics of his enterprises and interests are not yet known, he is one of Ghana’s wealthiest individuals, with a net worth estimated to exceed $300 million, according to Forbes Ghana.
Conclusion
Every year, new billionaires emerge, signaling that Africa is a powerful and increasing force in the global economy. After looking at this list of Ghana’s wealthiest men, it’s clear that Ghana is a business-friendly country. Although there are politicians on this list, the vast majority of them went into business and are now considered wealthy entrepreneurs.