The 80 Richest People in Ghana & How They Contribute to GDP




The Ghana Wealth Report for 2015 was released by Goodman AMC. The report is based on a comprehensive study of more than 100 successful entrepreneurs and investors in Ghana as well as how and what they invest in. This report makes known of fascinating insights about the profiles and net worth of the 80 richest people in Ghana and also provides a compendious review of the wealth sector in Ghana.

Findings from the report shows that tremendous amounts of wealth has been accumulated by Ghanaians during the past 20 years. The report has discovered some intriguing data about the wealthy in Ghana and how they impact on Ghana’s economy and policies.

Ghana’s 80 Richest People control $2.5 billion which represents 6.4% of Ghana’s GDP, they have a combined wealth of $29.3 billion total and employ over 150,000 Ghanaians directly.

Goodman AMC predicts that the wealth held by the wealthiest people in Ghana will rise 8.7% during Ghana’s election year in 2016 next year and decline by 2.1% in 2017.



It has also been quite clear from this report that 92% of the wealthy entrepreneurs and investors in Ghana do not have more capital invested in the Ghana Stock Exchange. The report notes that majority of them do not have equity allocations on the Ghana Stock Exchange and haven’t gone public with their businesses, though most increased their equity holdings in Dubai, Switzerland, South Africa and Frankfurt, Germany.

Another major observation by the Ghana Wealth Report by Goodman AMC ascertains the import reliability of Ghana’s economy; 83% of wealthy entrepreneurs in this report are engaged in the business of importing commodities into Ghana.

Goodman AMC’s Ghana Wealth Report discovered 3 billionaires and 77 multimillionaires who all form part of a group of individuals called the Ultra-High-Net-Worth Individuals (UHNWI). Goodman AMC placed the UHNWI cap at $100 million; meaning that only Ghanaian entrepreneurs and investors with a net worth of $100 million and above were considered for this report.

The Ultra-High-Net-Worth Individuals in Ghana are holding so much cash due and not investing in Ghana due to the current market volatility in the country and for lifestyle needs. This suggests that the current financial crisis in Ghana lingers on.



On the 80 Richest People in Ghana list, 5 are women; making Patricia Poku-Diaby the richest woman in Ghana with a net worth of $720 million followed by Theresa Oppong-Beeko, Kate Quartey-Papafio and Gifty Lamptey and Grace Amey-Obeng in that order.

According to this wealth report, Charles Ampofo is the richest person in Ghana and he made his fortune through Kampac Oil; an oil and gas firm based in the business hub of Dubai. He has a net worth of $1.46 billion.

The second on the rich list with an estimated net worth of $1.3 billion is Ernesto Taricone.The vast majority of Taricone’s wealth comes from real estate and his business interest in the aluminium, agriculture, construction and forestry.

The youngest multimillionaire currently in Ghana with a net worth of $125 million is Mike Nyinaku; he is 39 years and the founder of The BEIGE Group, with his primary source of wealth being The BEIGE Capital, a financial institution in Ghana.

The Ghana Wealth Report has also tracked the richest families in Ghana who inherited their wealth and continue to grow their family fortune. The wealthiest family in Ghana according to this Wealth Report is the Irani Family, whose wealth originated when 2 brothers Anthony Irani and Edward Irani both of Lebanese descent came into Ghana in 1967 and set up a flour mill. The Irani Brothers and Others Limited went on to become the largest producer of flour in Ghana.



They are followed by the Awuah-Darko Family who have made their fortune in the insurance and finance sector of Ghana’s economy. The current Awuah-Darko’s inherited VANGUARD Assurance from their late father, Nana Ampem Awuah Darko. The family has built on their late father’s legacy and fortune and now have 4 subsidiaries under the VANGUARD Group and about 10 other companies which are each owned by relatives.

Real estate is the main industry from which Ghana’s Ultra-High-Net-Worth Individuals have acquired their wealth – it is the primary source of wealth for 11.25% of Ghana’s rich in this report. Other important industries for UHNWIs include finance and investment (16.25%), oil and gas (10%), mining (6.25%) and diversified (25%).

Click on each billionaire or millionaire’s name to get more information and insights on what and how they invest.

#1 CHARLES AMPOFO

 

 

Est. Net Worth: $1.46 Billion

 

 

Source: OIL & GAS

 

 

 

 

#2 ERNESTO TARICONE 

 

 

Est. Net Worth: $1.3 Billion

 

 

Source: REAL ESTATE

 

 

 

 

#3 SAM ESSON JONAH

 

 

Est. Net Worth: $1.2 Billion

 

 

Source: INVESTMENTS

 

 

 

 

#4 NABIL EDMOND MOURKAZEL

 

 

Est. Net Worth: $900 Million

 

 

Source: COMMODITIES

 

 

 

 

#5 MICHAEL IBRAHIM MAHAMA

 

 

Est. Net Worth: $860 Million

 

 

Source: MINING

 

 

 

 

#6 MOHAMMED AHMED ODAYMAT

 

 

Est. Net Worth: $850 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#7 THE IRANI FAMILY

 

 

Est. Net Worth: $800 Million

 

 

Source: FLOUR

 

 

 

 

#8 PATRICIA POKU-DIABY

 

 

Est. Net Worth: $720 Million

 

 

Source: COCOA, COTTON

 

 

 

 

#9 THE KALMONI FAMILY

 

 

Est. Net Worth: $700 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#10 KWABENA DUFFUOR

 

 

Est. Net Worth: $680 Million

 

 

Source: FINANCE

 

 

 

 

#11 THE AWUAH-DARKO FAMILY

 

 

Est. Net Worth: $650 Million

 

 

Source: FINANCE

 

 

 

 

#12 MILAD MILLET & FAMILY

 

 

Est. Net Worth: $620 Million

 

 

Source: TEXTILES

 

 

 

 

#13 JOSEPH SIAW AGYEPONG

 

 

Est. Net Worth: $600 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#14 RAMCHAND UDHARAM MOHINANI

 

 

Est. Net Worth: $580 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#15 ADAMU IDDRISU &FAMILY

 

 

Est. Net Worth: $550 Million

 

 

Source: FINANCE, COCOA

 

 

 

 

#16 THE HITTI FAMILY

 

 

Est. Net Worth: $540 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#17 THE AZAR FAMILY 

 

 

Est. Net Worth: $520 Million

 

 

Source: PAINTS

 

 

 

 

#18 KWABENA ADJARE DANQUAH 

 

 

Est. Net Worth: $500 Million

 

 

Source: ENGINEERING

 

 

 

 

#19 GHASSAN YARED

 

 

Est. Net Worth: $480 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#20 SERGE BAKALIAN

 

 

Est. Net Worth: $460 Million

 

 

Source: FLOUR

 

 

 

 

#21 THE BITAR FAMILY

 

 

Est. Net Worth: $450 Million

 

 

Source: LUMBER

 

 

 

 

#22 THOMAS SVANIKIER

 

 

Est. Net Worth: $435 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#23 SAIED FAKHRY

 

 

Est. Net Worth: $430 Million

 

 

Source: PLASTICS

 

 

 

 

#24 THERESA OPPONG-BEEKO

 

 

Est. Net Worth: $420 Million

 

 

Source: REAL ESTATE

 

 

 

 

#25 PAPA KWESI NDOUM

 

 

Est. Net Worth: $410 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#26 KWABENA ADJEI

 

 

Est. Net Worth: $400 Million

 

 

Source: ALCOHOL

 

 

 

 

#27 ENRICO DE SIMONE

 

 

Est. Net Worth: $400 Million

 

 

Source: CONSTRUCTION

 

 

 

 

#28 B.K. AMANDI

 

 

Est. Net Worth: $400 Million

 

 

Source: ENGINEERING

 

 

 

 

#29 BHAGWAN KHUBCHANDANI

 

 

Est. Net Worth: $380 Million

 

 

Source: RETAIL

 

 

 

 

#30 MACDONALD VASNANI 

 

 

Est. Net Worth: $360 Million

 

 

Source: SHIPPING

 

 

 

 

#31 JOHN TAYLOR 

 

 

Est. Net Worth: $355 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#32 THE SOLOMON LABA FAMILY

 

 

Est. Net Worth: $350 Million

 

 

Source: MATTRESS

 

 

 

 

#33 KWAKU BEDIAKO

 

 

Est. Net Worth: $350 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#34 KOFI AMOAH      

 

 

Est. Net Worth: $341 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#35 CHRIS CHINEBUAH

 

 

Est. Net Worth: $330 Million

 

 

Source: OIL & GAS

 

 

 

 

#36 OKO-NIKOI DZANI 

 

 

Est. Net Worth: $324 Million

 

 

Source: FINANCE

 

 

 

 

#37 KWAME BAWUAH-EDUSEI

 

 

Est. Net Worth: $300 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#38 TONY OTENG-GYASI

 

 

Est. Net Worth: $300 Million

 

 

Source: CABLES

 

 

 

 

#39 TOGBE AFEDE XIV

 

 

Est. Net Worth: $280 Million

 

 

Source: INVESTMENTS

 

 

 

 

#40 GEORGE OWUSU

 

 

Est. Net Worth: $278 Million

 

 

Source: DIVERSIFIED

 

 

#41 ERNEST BEDIAKO SAMPONG 

 

 

Est. Net Worth: $276 Million

 

 

Source: PHARMACEUTICALS

 

 

 

 

#42 FAWZI WOLLEY

 

 

Est. Net Worth: $275 Million

 

 

Source: RETAIL

 

 

 

 

#43 FRANK ACHAMPONG

 

 

Est. Net Worth: $275 Million

 

 

Source: ROAD SIGNAGE

 

 

 

 

#44 MICHAEL AGYEKUM ADDO

 

 

Est. Net Worth: $270 Million

 

 

Source: PHARMACEUTICALS

 

 

 

 

#45 KEN OFORI-ATTA

 

 

Est. Net Worth: $260 Million

 

 

Source: INVESTMENTS

 

 

 

 

#46 YUSIF IBRAHIM 

 

 

Est. Net Worth: $255 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#47 THE ADDISON FAMILY

 

 

Est. Net Worth: $250 Million

 

 

Source: CEMENT

 

 

 

 

#48 KATE QUARTEY-PAPAFIO 

 

 

Est. Net Worth: $250 Million

 

 

Source: CABLES

 

 

 

 

#49 KELI GADZEKPO

 

 

Est. Net Worth: $235 Million

 

 

Source: INVESTMENTS

 

 

 

 

#50 KWAME ACHAMPONG-KYEI

 

 

Est. Net Worth: $233 Million

 

 

Source: INSURANCE

 

 

 

 

#51 PAK-WO SHUM

 

 

Est. Net Worth: $227 Million

 

 

Source: AVIATION

 

 

 

 

#52 WILLIAM ATO ESSIEN

 

 

Est. Net Worth: $220 Million

 

 

Source: FINANCE

 

 

 

 

#53 FRANK OWUSU SEKYERE

 

 

Est. Net Worth: $213 Million

 

 

Source: ALCOHOL

 

 

 

 

#54 TANAL GHANDOUR 

 

 

Est. Net Worth: $200 Million

 

 

Source: COSMETICS

 

 

 

 

#55 NENE DROLO BOSSO ADAMTEY  

 

 

Est. Net Worth: $200 Million

 

 

Source: INVESTMENTS

 

 

 

 

#56 THE PEPERA FAMILY

 

 

Est. Net Worth: $180 Million

 

 

Source: AUTOMOBILE

 

 

 

 

#57 PRINCE KOFI AMOABENG  

 

 

Est. Net Worth: $170 Million

 

 

Source: FINANCE

 

 

 

 

#58 KWAME OFOSU BAMFO

 

 

Est. Net Worth: $170 Million

 

 

Source: PAINTS

 

 

 

 

#59 VICTOR ALHASSAN  

 

 

Est. Net Worth: $167 Million

 

 

Source: OIL & GAS

 

 

 

 

#60 NIK AMARTEIFIO

 

 

Est. Net Worth: $163 Million

 

 

Source: INVESTMENTS

 

 

 

 

#61 KOFI NSIAH POKU

 

 

Est. Net Worth: $160 Million

 

 

Source: PHARMACEUTICALS

 

 

 

 

#62 ERNEST OFORI SARPONG

 

 

Est. Net Worth: $160 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#63 JOSEPH NSONAMOAH

 

 

Est. Net Worth: $155 Million

 

 

Source: FINANCE

 

 

 

 

#64 EMMANUEL ABLEDU

 

 

Est. Net Worth: $152 Million

 

 

Source: OIL & GAS

 

 

 

 

#65 QUINCY SINTIM-ABOAGYE

 

 

Est. Net Worth: $150 Million

 

 

Source: PETROLEUM

 

 

 

 

#66 YAW ADU-GYAMFI  

 

 

Est. Net Worth: $144 Million

 

 

Source: PHARMACEUTICALS

 

 

 

 

#67 OSEI KWAME

 

 

Est. Net Worth: $142 Million

 

 

Source: MEDIA

 

 

 

 

#68 SETH KWASI DEI

 

 

Est. Net Worth: $140 Million

 

 

Source: DIVERSIFIED

 

 

 

 

#69 GIFTY LAMPTEY 

 

 

Est. Net Worth: $135 Million

Source: FERTILIZERS

#70 THE FRIMPONG-ANSAH FAMILY

Est. Net Worth: $130 Million

Source: TEXTILES

#71 JOHN SACKAH ADDO

Est. Net Worth: $128 Million

Source: FINANCE

#72 MIKE NYINAKU

Est. Net Worth: $125 Million

Source: DIVERSIFIED

#73 JUSTICE TAYLOR

Est. Net Worth: $125 Million

Source: DIVERSIFIED

#74 TORGBOR MENSAH

Est. Net Worth: $120 Million

Source: ADVERTISING

#75 EDWARD BOATENG

Est. Net Worth: $118 Million

Source: MEDIA

#76 SAMIR KALMONI

Est. Net Worth: $115 Million

Source: FAST FOOD

#77 TUTU AGYARE

Est. Net Worth:  $110 Million

Source: HEDGE FUND

#78 KWASI TWUM

Est. Net Worth: $110 Million

Source: MEDIA

#79 GRACE AMEY-OBENG

Est. Net Worth: $100 Million

Source: COSMETICS

#80 SANDY OSEI-AGYEMAN

Est. Net Worth: $100 Million

Source: COSMETICS

Click to read the methodology and how the net worth was calculated. 

Image Inset: Nabil Edmond Mourkazel, Executive Chairman, Finatrade

Image Credit: Finatrade

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