[LIST] Top 10 Richest People in Zambia

According to the criteria for making this list, we did not include some obvious government officials (former or current) because we all know that most of them looted Zambia’s public funds therefore it would be unfair to rank them together with individuals who solely worked hard to earn their great fortunes.

Disclaimer – This might not be as factual because most of the named individuals have not officially disclosed their net worth for public reference and this is a product of Africa Cradle’s business investigative journalism unit.


10.Geoffrey Bwalya Mwamba is a Zambian businessman now turned politician who has been known for his immaculate business skills. However, most Zambians have come to know him more from a political perspective.


9.Charles Milupi is another Zambian entrepreneur turned politician. Milupi’s assets include 60 000 shares in Copperbelt Energy Corporation Plc (C.E.C) valued over K4 billion (old currency), 100 000 shares in Lafarge cement valued at K750 million (old currency) and 60% shares in Tiiseza Zambia Ltd valued at K1.8 billion (old currency).


8.Hanson Sindowe is the chairman of Copperbelt Energy Corporation Plc, co founder and Managing director of the Zambian Energy Corporation (Zam-En) and currently serves on several Boards of Directors.


7.Hakainde Hichilema’sassets are declared to be over K46 billion (old currency). Hichelima’s land and building assets are way over K22 billion (old currency).

Andrew Sardanis - the book is a detailed examination of most major events in our history since independence - Picture by Leonard Musabula

6.Andrew Sardanis is a Zambian businessman who owns quite a number of businesses amongst them is Chaminuka. Chaminuka is an exquisite village on a hill overlooking Lake Chitoka. Chaminuka has a huge collection of private contemporary African paintings and sculptures as well as traditional artifacts.



5.Carl Irwin is perhaps known as the founding director of Zambeef Products Plc – growing the company from a small butchery business into a Zambian multi-national conglomerate that is listed on both the Lusaka and London Stock Exchanges. Born 49 years ago in Kitwe, Dr. Irwin is a proud Zambian citizen who lives on a family farm on Leopards Hill Road, Lusaka. Dr. Irwin’s accomplishments were highlighted recently when he was conferred with a honorary doctorate in Business and Entrepreneurship by the Copperbelt University.


4.Noble Findlay founded Autoworld in 1992. 23 years later, Findlay has expanded Autoworld and now it has 11 branches across Zambia. Findlay is the company chairman.


3.Robin Miller is the Managing Director of Real Estate Investments Zambia (REIZ). Miller has been a member of the Board of the Zambian Wildlife Authority, Chairman of the Post Newspaper, a member of the Republic of Zambia/EU Trade Enterprise Support Facility, and was the founding Chairman Of the Tourism Council of Zambia. Robin Miller is a trustee of the David Shepherd Wildlife Fund/ Game Rangers International.


2.Rajan Mahtani is a Zambian business magnate who is the Chairman of Finance Bank Zambia Ltd, a medium sized banking unit in Zambia. Mahtani is a Fellow of the Chartered Association of certified Accountants and holds a PhD in Commercial Law from the London institute of Business Studies.


1.Mark O’Donnell is the Zambian who made his fortune building places to stay in or shop. On the streets of Zambia he is known as the ‘Mall Man’ but in business, he is known as a strategist who wants to make money and cannot make it fast enough. O’Donnell is a born and bred Zambian. At age 18, O’Donnell was selling auto parts for someone else. But he dreamed of being an entrepreneur. O’Donnell decided to build a mall to keep his business running. Despite his fears, the Arcades Shopping Center was built in 2003 and brought in a number of South African franchises, putting Zambia on the map for investment.

O’Donnell also has ventured into the hotel industry. He negotiated a deal with Africa’s largest hotel group, Protea Hotels, a chain that has been targeted by Marriot international. The first hotel O’Donnell built was in Chingola. He is currently building his eighth in Lusaka, next door to his mall.

As the largest owner of hotels in Zambia it is evident that O’Donnell wants Tourism in Zambia to boom.


Source: Africacradle


Written by PH

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