Richest means having abundant possessions and especially material wealth. Having high value or quality.
Below we will list the wealthiest people in Malawi according to their Net worth. We have also decided to list their Net worth in United Dollars and Malawi Kwacha as well so that it can be easier for those of you who are comparing the list with people from other countries. Net worth is the value of all the non-financial and financial assets owned by an individual minus the value of all his/her outstanding liabilities.
An individual’s Net worth refers to an individual’s net economic position, the value of the individual’s assets minus liabilities.
Examples of assets someone would factor into their net worth include retirement accounts, other investments, home(s), and vehicles. Liabilities include secured debt, such as a home mortgage and unsecured debt, such as personal loans or consumer debts.
Wealthiest people in Malawi by order
#1. Thom Mpinganjira
- Mpinganjira Net worth: 260 million usd / 260 billion kwacha
- Sources of Wealth: Banking and investments; FDH Financial Holdings.
- Thom Mpinganjira is a seasoned Malawian businessman who was once the CEO of FDH Bank, Reunion Insurance and many other companies.
#2. Simbi Phiri
- Simbi Phiri Net worth: 200 million USD / 200 billion kwacha
- Sources of Wealth: Construction; Khato Civils and South Zambezi Consortium.
- Simbi Phiri is a Malawian businessman who is currently based in South Africa. He owns a multi-national construction company known as Khato Civils.
#3. Hitesh Anadkat
- Hitesh Anadkat Net worth: 198 million USD / 198 billion kwacha
- Sources of Wealth: Banking and investments; FMB Capital Group.
- Hitesh Anadkat is a Malawian Businessman with investments in banking and other sectors including telecommunication(TNM shareholder).
#4. Shepherd Bushiri
- Bushiri’s Net worth: 170 million USD / 170 billion kwacha
- Sources of Wealth: Church, Tourism and investments; ECG and Shepherd Bushiri Investments.
- Shepherd Bushiri is a Malawian church leader or prophet. He is the leader of the Enlightened Christian Gathering Church.
#5. Jimmy Korea Mpatsa
- Mpatsa Net worth: 145 million USD / 145 billion kwacha
- Sources of Wealth: Farming, Tourism, Real estate and investments; Mpatsa Holdings Limited & Mpatsa Trust.
- Jimmy Korea Mpatsa is a seasoned Malawian businessman with farms, lodges, and transport vehicles.
#6. Aniz Suleman
- Suleman’s Net worth: 140 million USD / 140 billion kwacha
- Sources of Wealth: Farming and real estate; Right Price, Northgate, Glenae Poultry, Conforzi Plantations.
- Suleman is a Malawian businessman. He owns several companies and real estate property, most of the property being in Limbe.
#7. Bakili Muluzi
- Bakili Muluzi Net worth: 110 million USD / 110 billion kwacha
- Sources of Wealth: Farming, transport, filling stations and real estate.
- Bakili Muluzi is a former Malawian President, founder of the UDF political party and businessman. He owns several companies and real estate properties throughout Malawi.
#.8 Leston Mulli
- Leston Mulli Net worth: 74 million USD / 74 billion kwacha
- Sources of Wealth: Farming, transport and investments; Mulli Group of Companies
- Leston Mulli is a seasoned Malawian businessman with multiple companies and investments all through Malawi and Africa.
#9. Gospel Kazako
- Gospel Kazako Net worth: 72 million USD / 72 billion kwacha
- Sources of Wealth: Telecommunications; Zodiak TV and Zodiak Radio.
- Gospel Kazako is a Malawian businessman and politician who owns one of the biggest radio and television companies in Malawi.
#10. Joyce Banda
- Joyce Banda Net worth: 53 million USD / 53 billion kwacha
- Sources of Wealth: Business and investments.
- Joyce Banda is a former President of Malawi, founder of the Peoples Party(PP) and a businesswoman who owns multiple companies throughout Malawi.
Who is the richest musician in Malawi in 2023?
Boo Lay
- Lucius Banda K512 million.
- Billy Kaunda K496 million.
- Namadingo K315 million.
- Gwamba K300 million.
- Dan Lu K257 million.
- Onesimus K233 Million.
- Taygrin K195 million.
- Fredokiss K171 million.
Who is the richest singer in Malawi?
Malawi’s richest music heavyweight, Patience Namadingo, is today celebrating his birthday, clarifying that he is 32 and not a year older.
Who is the billionaire musician in Malawi?
Namadingo is arguably one of the richest musicians and artists in the entertainment industry in Malawi. He commands a large following across the whole of Southern Africa.