Seven tycoons and multimillionaires in Ghana you’ve probably never heard of

Touted as one of the fastest-growing economies in Africa, Ghana is home to 110 multimillionaires and 2,800 high net-worth individuals.

Collectively, they control roughly $56 billion in assets.

Despite not having any billionaires in dollar terms, Ghana is leaps and bounds ahead of many African countries in terms of wealth distribution and living standards, boasting a wealth per capita of $1,830. This figure puts Ghana above mega-wealthy countries such as Nigeria and Ethiopia.

Population dynamics might have played a role in Ghana’s ranking above these countries. For example, with four billionaires, 460 multimillionaires and 9,100 high net-worth individuals, Nigeria has a wealth per capita of only $1,030, largely due to its high plus-200-million population.

Regardless, Ghana’s government has earned rave reviews around the world in recent times due to its stable economic and political policies.

Forbes described the country as: “A market-based economy with relatively few policy barriers to trade and investment in comparison with other countries in the region.”

Here are seven of Ghana’s richest people, some of whom you’ve probably never heard of.

1. Ernesto Taricone

Source: Construction and real estate

Originally an Italian by birth, Ernesto Taricone migrated to Ghana as a teenager and later became a citizen by naturalization.

He is the founder of Trasacco Group, a leading conglomerate involved in mining, agri-business, real estate and construction.

2. Samuel Esson Jonah

Source: Mining

Sam Jonah is a Ghanaian businessman and the executive chairman of Jonah Capital, an equity fund based in Johannesburg, South Africa. He was previously the president of AngloGold Ashanti and headed about 19 different companies.

His Jonah Capital is the second-biggest shareholder in the pan-African micro-lender, Bayport, and a major shareholder in Houses for Africa, a firm that offers middle-class residential construction projects and financing in Zimbabwe, Zambia and Nigeria.

3. Nabil Edmond Moukarzel

Source: Commodities

Nabil Moukarzel is the largest shareholder in the Ghanaian FMCG company, Finatrade Group.

Through its subsidiaries, Finatrade distributes and markets raw commodities and frozen foods. It offers vegetable oil, sugar, rice, cocoa, meat, ice cream, dairy products, beverages, powdered milk, animal feed, tiles, granite, marble, false ceilings, sanitary and kitchenware.

4. Ibrahim Michael Mahama

Source: Construction and Mining

Ibrahim Mahama is the younger brother to the immediate past president of Ghana, John Dramani Mahama. He owns the largest indigenous mining company in West Africa, Engineers and Planners, and other businesses, including Dzata Cement.

5. Alhaji Mohammed Ahmed Odaymat

Source: Diversified

Mohammed Odaymat is a Ghanaian of Lebanese descent. He is the chairman of IPMC, a renowned IT firm in the country. He started his career working for Toyota and later went on to purchase BBC industries. He also owns considerable stakes in Highland Springs and Rana Motors.

6. Patricia Poku Diaby

Source: Commodities

Patricia is Ghana’s wealthiest woman. She is the CEO of Plot Enterprise, a limited liability company that operates and processes cocoa in Ghana. It exports products to the United States, Asia, Europe and Australia.

7. Kwabena Duffuor

Source: Finance

Kwabena Duffuor was a former finance minister and governor of the Central Bank of Ghana. He is the founder and chairman of HODA Holdings, a diversified financial conglomerate offering insurance, banking and real estate services.

He also founded the defunct uniBank.