Who is the Richest Man in Ghana 2020 Forbes ?

2. Dr. Kwame Addo Kuffuor  – $ 1.2billion

Kwame Addo-Kufuor (born 14 July 1940) is a Ghanaian politician and physician. Addo-Kufuor was a member of parliament for Manhyia, and from 2001 to 2007, he was the Minister for Defence under President John Kufuor, his brother. Between June 2008 and 2009, he was Minister for Interior.

In 2017, Addo-Kufuor was appointed by the President, Nana Addo Danquah Akufuo Addo as Chairman of the Board of Trustees of the Social Security and National Insurance Trust, (SSNIT), the state pension fund.

Since April 6, 2017, Dr Addo-Kufuor has been the Chairman of the SSNIT Board of Trustees. Under his stewardship, Dr Kwame Addo-Kufuor led the team to turn around SSNIT’s investment portfolio achieving a 5.77% real return in 2017 as against -5.93% in 2016. This performance was above the external actuarial target of 3.25%. During that same period, the Trust achieved a 26.1% increase in contributions collection.

Kwame, who is currently president of the Ghana Chamber of Mines; Kojo, an investment banker and the Chief Operating Officer of Ghana Home Loans; and Nana Ama, also a banker and currently deputy Managing Director of the Eximbank, Ghana.

3. John Mahama   – $900 million

Mahama is the first vice president to take over the presidency from the death of his predecessor, Prof. John Atta Mills, and is the first head of state of Ghana to have been born after Ghana’s independence.

Mahama is a communication expert, historian, and writer. He was a Member of Parliament for Bole Bamboi from 1997 to 2009 and Minister of Communications from 1998 to 2001.

4. Michael Ibrahim Mahama

Ibrahim Mahama (born 29 January 1971) is a Ghanaian businessman, and the founder of Engineers and Planners,  the largest indigenous-owned mining company in West Africa, and the owner of several other businesses in Ghana. He is the younger brother of John Dramani Mahama, President of Ghana from 2012 to 2016.

Number 5 of  Richest Man in Ghana 2020 Forbes List 

5. Irani Family   $800 million

Irani Brothers is the market leader in wheat flour production in Ghana with about 55% of the total market and employs over 400 people.

Irani Brothers currently produces two main products: bread flour and pastry flour. The extension to pastry flour was in response to the growth in domestic demand for the product that came with an expansion in the number and capacity of Ghana’s biscuit factories and the entry of a large number of domestic pastry producers.

The company currently imports about 180,000 metric tones of wheat annually for milling into bread and pastry flour and it accounts for about 60% of wheat flour sales in Ghana.

The core strength of Irani Brothers lies in its ability to source full shiploads of wheat and to secure the necessary funding arrangements; this gives it a competitive advantage over all the other flour mills in Ghana, no other flour mill in Ghana has the capacity to continuously source wheat in large quantities.

Irani Brothers has the largest flour milling capacity in Ghana and accounts for 60% of total wheat flour sales.

6. Kwabena Duffour  -$680 million

Kwabena Duffuor was the Finance Minister of Ghana. He has also served as the governor of the Bank of Ghana. He was named as one of the four best Central Bank Governors in the World at an IMF/World Bank meeting in 1999.

He is a Fellow of the Akuafo Hall, University of Ghana, and a Fellow of the Chartered Institute of Bankers.

Duffuor is the founder and chairman of HODA Holdings, a business entity comprising Insurance, Banking, Real Estates, Farming, Mining and Media. He is also the founder and president of the Institute for Fiscal Studies in Ghana, a non-profit think-tank providing economic advocacy and training which he established in March, 2013. He is also the founder of uniBank which controversially collapsed in 2018/

7. Dr. Sam E. Jonah    $650million

Samuel Esson Jonah,  (born 19 November 1949) is a Ghanaian businessman, the executive chairman of Jonah Capital, an equity fund based in Johannesburg, South Africa. Jonah was previously president of AngloGold Ashanti and shared the strategic leadership of the company with its CEO, Bobby Godsell.

8.   The Hitti Family    $540million

The HITTI Group offers more than 2000 employment while Duraplast alone employs more than 500 people. The company plans to expand into mining, telecommunication and the oil and gas.
Suvinil Paints control about 25 percent of the paint market in Ghana with ASHFOAM Mattress being the second largest manufacturer of mattresses in Ghana.

Mireille Hitti is the Executive Director of Duraplast, Alwan Hitti serves as Chairman and Chief Executive Officer of ASHFOAM whiles Bob Hitti is the General Manager of Nesstra Services (UK) Limited Ghana.

9. Ghassan Yared   $ 480million

Most of Yared’s wealth was obtained from Forewin, a company which has already established itself in the 10 regions of Ghana with deep penetration in 39 cities across Ghana.

GhassanYared has a large transport fleet of over 400 mobile vehicles which links the various regions of Ghana with the main office in Accra.

Yared is also 100 percent owner of Mabani Holdings Ghana Limited a real estate firm. Mabani recently signed a joint venture agreement with Actis, a private equity real estate investor in Sub-Saharan Africa, Actis has invested about US$ 150 million in real-estate development in Africa.

Mabani Holdings and Actis are currently working together on a 70,000-square metre mixed-use office, hotel, residential and retail development on a seven-acre site. This property called ‘The Exchange’ will be a landmark development in the heart of Accra, close to Kotoka International Airport (KIA) and will house the first Radisson Blu Hotel in Ghana. This project is valued in excess of $80 million dollars.

Number 10 of Richest Man in Ghana 2020 Forbes List 

10. Serge  Bakalian     $460 million

Serge Bakalian is the current CEO of the Takoradi Flour Mills. He has been running the affiliated family company since he took over for his Armenian father. The company is among the few firms in the industry, making a considerable fortune in Ghana.

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