Richest Man in Sudan 2023 - Top 10 Millionaires
by Krishika M
Updated Apr 28, 2023
Richest Man in Sudan 2023
We have compiled a list of the top 5 richest people in Sudan for the year 2023. This was achieved by carefully monitoring the financial activities of business moguls in Sudan, including their sources of wealth and net worth.
For instance, telecom tycoon Mo Ibrahim founded Celtel International in 1998, which provided mobile phone services to Africa and the Middle East. The company's success led to its acquisition by Kuwait's Mobile Telecommunications Company for over $3 billion in 2005. This transaction not only made Ibrahim one of the richest Africans but also demonstrated the potential for growth in the telecom industry in Sudan.
Similarly, the other individuals on the list, such as Salih Abdelrahman Yagoub, Ahmed Abdellatif, Amin El-Nefeidi, and Osama Daoud Abdellatif, have made significant contributions to the country's economy through their various business ventures.
The top 5 richest people in Sudan for 2023 are likely to have a combined net worth of billions of dollars. These individuals have made their fortunes through various business ventures, including telecom, agriculture, real estate, and transportation, among others. By analyzing their sources of wealth and investments, this article highlights the importance of entrepreneurship and innovation in creating wealth and job opportunities.
Top 5 Richest Man in Sudan 2023
Here is the list of the top 10 richest men in Sudan as of 2023:
1
Mo Ibrahim
2
Osama Daoud Abdellatif
3
Amin El-Nefeidi
4
Ahmed Abdellatif
5
Salih Abdelrahman Yagoub
S.No.
Richest Men
1. Mo Ibrahim
Mo Ibrahim is a wealthy African business magnate known for his success in the telecom industry. Born in Sudan, he founded Celtel International in 1998, which was one of the first mobile phone companies to provide services in Africa and the Middle East.
Under Ibrahim's leadership, Celtel International grew rapidly and became a major player in the telecom industry. The company provided affordable and reliable mobile phone services to millions of people across the region, revolutionizing the way people communicated and conducted business.
In 2005, Ibrahim sold Celtel International to Kuwait's Mobile Telecommunications Company for over $3 billion. This was a significant achievement and cemented Ibrahim's status as one of Africa's wealthiest and most successful entrepreneurs.
Ibrahim is also known for his philanthropic work and is the founder of the Mo Ibrahim Foundation, which supports good governance and leadership in Africa. Through the foundation, Ibrahim has provided financial support to numerous initiatives aimed at promoting democracy, human rights, and economic development in Africa.
2. Osama Daoud Abdellatif
Osama Daoud Abdellatif is a diversified business leader who inherited an engineering and tractor company from his father in the 1960s. He took over the business and rapidly expanded it into what is now known as DAL Group, Sudan's largest conglomerate.
As the chairman of DAL Group, Abdellatif has overseen the company's expansion into various sectors, including food and beverage, agriculture, heavy equipment retail, automobile distribution, education, and healthcare. With annual revenues exceeding $1.6 billion, DAL Group is a major player in Sudan's economy and has earned a reputation as a trusted and reliable partner for businesses in the country.
Under Abdellatif's leadership, DAL Group has continued to invest in new technologies, expand its operations, and diversify its product portfolio. The company's commitment to excellence and innovation has earned it numerous accolades, including recognition as one of Africa's most admired brands. As a prominent business leader, Abdellatif is widely respected for his strategic vision and entrepreneurial spirit, and he continues to drive DAL Group's growth and success.
3. Amin El-Nefeidi
Amin El-Nefeidi is a diversified business leader and the President of Elnefeidi Group, a prominent family-owned conglomerate in Sudan. The company was founded by Amin's father, Bashir Elnefeidi, who started with a small soap store in the local marketplace and grew it into a larger wholesale outlet with the support of his brothers. By the 1970s, the group had diversified into various sectors, including livestock, oil, and transportation.
Elnefeidi Group is best known for its transportation division, which started with 15 Fiat trucks in 1988 but has since grown to become the largest inland logistics company in Sudan and one of the largest in Africa, with over 600 trucks and trailers. Today, Amin El-Nefeidi and his children run the business, which has an annual revenue of more than $400 million and operates in several sectors, including agriculture, automotive, commercial, food, logistics, mining, and real estate.
Under Amin El-Nefeidi's leadership, Elnefeidi Group has continued to expand its operations and grow its revenue. The company's success in various sectors is a testament to its ability to adapt to market changes and identify lucrative opportunities. Elnefeidi Group's commitment to excellence and innovation has earned it a reputation as a trusted and respected partner for businesses in Sudan and beyond.
4. Ahmed Abdellatif
Ahmed Abdellatif is a diversified business leader and the President of CTC Group, which is a private limited group of companies based in Sudan. Established in 1956 under the name of The Central Trading Co. Ltd, CTC Group started its operations as a trading house specializing in agricultural commodities and general merchandise. Today, it has grown to become one of the largest trading houses in Sudan.
With annual revenues exceeding $200 million, CTC Group is a major importer, trader, and distributor of various products in Sudan. The company represents some of the world's leading manufacturers of agricultural and construction machinery, consumer electronics, automobiles, and fertilizers in the country. Its extensive product portfolio and widespread distribution network have earned it a reputation as a reliable and reputable partner for businesses in Sudan and beyond.
Under Ahmed Abdellatif's leadership, CTC Group has continued to thrive and expand its operations, contributing to the economic growth and development of Sudan. The company's success in diverse sectors is a testament to Abdellatif's strategic vision and entrepreneurial spirit.
5. Salih Abdelrahman Yagoub
Salih Abdelrahman Yagoub, a diversified business magnate, is the founder and current chairman of SAY Co. With an extensive portfolio spanning various industries, the company generates an impressive annual revenue of over $100 million. The business conglomerate has operations in industrial construction, trading, retail, and services sectors.
Yagoub, like other successful entrepreneurs in Africa's older generation, began his career by trading agricultural commodities and general merchandise. He has since built his business empire through strategic investments in diverse sectors, demonstrating his acumen in identifying lucrative opportunities and adapting to market changes.
Yagoub's entrepreneurial spirit has driven him to grow his business beyond the confines of Sudan, expanding SAY Co.'s footprint across Africa and the Middle East. His success story serves as an inspiration to many aspiring business leaders in the region.
Richest Man in Sudan
Mo Ibrahim is a Sudanese-born telecom tycoon and philanthropist. He is best known for founding Celtel International, one of the earliest mobile phone companies serving Africa and the Middle East. After building the company into a successful venture, he sold it to Kuwait's Mobile Telecommunications Company for more than $3 billion in 2005. This sale made him one of the richest Africans in the world.
Following the sale of Celtel, Ibrahim turned his attention to philanthropy and established the Mo Ibrahim Foundation. The foundation's main objective is to support good governance and leadership in Africa by promoting and celebrating exceptional African leaders who have demonstrated excellence in governance and contributed to the development of their countries.
In addition to his philanthropic work, Ibrahim is also an active participant in global development initiatives. He has served on several high-level United Nations panels, including the High-level Panel on UN System-wide Coherence in areas of Development, Humanitarian Assistance and the Environment.
Mo Ibrahim's success in the telecom industry and his commitment to promoting good governance and leadership in Africa have earned him several awards and honors. He has been named one of Time Magazine's 100 most influential people in the world, and in 2007, he was awarded the Clinton Global Citizen Award for his leadership in building a more equitable society.
How Sudan's Richest Men are Shaping the Country's Economy?
Sudan's richest men are playing a crucial role in shaping the country's economy. Their vast wealth and business empires give them significant influence in various industries and sectors, allowing them to make important economic decisions that impact the lives of millions of people in Sudan.
Many of Sudan's wealthiest individuals have built their fortunes through diversified business interests, ranging from agriculture to transportation to telecommunications. They have leveraged their wealth to invest in new ventures and expand existing ones, creating job opportunities and contributing to the country's economic growth.
For example, Mo Ibrahim, one of Sudan's richest men, made a significant contribution to the country's telecommunications sector through his company, Celtel International. He revolutionized the mobile phone industry in Africa and the Middle East by making mobile phones more affordable and accessible to people in the region. His company's success helped to bring about a digital revolution in Sudan, boosting economic growth and improving the lives of many people in the country.
Similarly, the Elnefeidi Group, led by Amin El-Nefeidi, has made significant investments in the agriculture and transportation sectors. Through their diversified businesses, they have contributed to the growth of the country's economy by providing jobs and investing in infrastructure projects.
The wealthiest individuals in Sudan have also been involved in philanthropic activities, donating to various charitable causes and supporting social programs aimed at improving the lives of Sudanese people. Through their philanthropic efforts, they have helped to address pressing social issues in the country, such as poverty, healthcare, and education.
Richest Man in Sudan 2023 - FAQs
The top five richest men in Sudan in 2023, according to Top Most 10, are Mo Ibrahim, Osama Daoud Abdellatif, Amin El-Nefeidi, Ahmed Abdellatif, and Salih Abdelrahman Yagoub.
Most of these businessmen began their careers in trading or agriculture and then diversified into other industries such as construction, logistics, and telecommunications. They also benefited from Sudan's natural resources and the country's strategic location in East Africa.
These businessmen have played a significant role in Sudan's economy by creating jobs, investing in infrastructure, and contributing to the country's overall economic growth. Their companies have also helped to improve access to essential goods and services, such as food, transportation, and healthcare.
Some critics have accused these businessmen of being too closely tied to the government and benefiting from political connections. There have also been concerns about income inequality and the concentration of wealth in the hands of a small elite.
Sudan faces numerous challenges, including political instability, economic sanctions, and social unrest. However, the country also has enormous potential, particularly in sectors such as agriculture, energy, and technology. The future success of Sudan's economy will depend on a variety of factors, including government policies, foreign investment, and the ability of its wealthiest businessmen to adapt to changing market conditions.