List of the Richest People in Malawi

Hello everyone, on this page we will list the richest and wealthiest Malawians. Eish, some of these people somehow continue to gain more money and assets while somehow the majority still struggle to make profits after years of hard work, I guess the saying is still true, the rich get richer. Either way, I hope you will enjoy this list which is updated as of January 2024. Whether it motivates you or makes you question some things, that is up to you. You can always leave a comment below or contact us if you think we should add or remove certain information on this page.

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 a 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 / 442 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 / 340 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 / 336 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 Net worth: 170 million usd / 289 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 Enlightened Christian Gathering Church.

#5. Jimmy Korea Mpatsa

Mpatsa Net worth: 145 million usd / 246 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 Net worth: 140 million usd / 238 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 / 187 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 property throughout Malawi.

#.8 Leston Mulli

Leston Mulli Net worth: 74 million usd / 126 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 / 122 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 / 90 billion kwacha
Sources of Wealth: Business and investments.
Joyce Banda is a former President of Malawi, founder of Peoples Party(PP) and a businesswoman who owns multiple companies throughout Malawi.