1. Hitesh Anadkat – Estimated net worth: $900 million–$1 billion

Recognized as the richest person in Malawi, Anadkat amassed his wealth primarily from the banking sector. He was a co-founder of First Capital Bank (previously known as First Merchant Bank) in 1995 and holds a substantial share in FMB Capital Holdings. His business ventures expand across nations such as Botswana, Zambia, Mozambique, Zimbabwe, and Mauritius. Apart from banking, his investments span telecommunications, real estate, tobacco, and manufacturing industries. Additionally, Anadkat is acknowledged for his considerable philanthropic efforts in the fields of healthcare, education, and prison reform.

2. Thom Mpinganjira – Estimated net worth: $200–$300 million

As a prominent entrepreneur and one of the founders of MTL Trust Holdings, Thom acquired his wealth through investments in telecommunications and real estate, most notably as the owner of telecom company MTL. His ventures also encompass banking and property sectors. He engages actively in charitable endeavors related to healthcare and initiatives aimed at community empowerment.

3. Rodwell Munyenyembe – Estimated net worth: $100–$150 million

Munyenyembe has built substantial wealth as a successful businessman closely associated with Malawi’s transport and logistics industry. His earnings stem from logistics contracts, fuel importation and distribution, and he has made investments in agriculture and the hospitality sector. He contributes to scholarship programs and agricultural community initiatives.

4. Chikondano Makwenda – Estimated net worth: $80–$120 million

A leading player in Malawi’s tobacco industry, Makwenda runs one of the country’s largest tobacco trading firms. His diverse investment portfolio also includes holdings in real estate and agro-processing businesses. He is a notable benefactor of local farmers and sponsors programs promoting agricultural best practices.

5. Kenneth ‘Ken’ Achola – Estimated net worth: $70–$100 million

Achola stands out as a significant figure in the finance and mobile telecommunications market. He is a vital investor in local banks and telecom companies, alongside having interests in manufacturing and retail sectors. He supports youth entrepreneurship initiatives and has contributed to educational infrastructure in rural communities.

6. Grace Mhone – Estimated net worth: $60–$90 million

As one of Malawi’s richest women, Grace’s wealth is derived from her leadership in a major agribusiness involved in processing maize, soybeans, and peanuts. She possesses real estate assets and small renewable energy projects. Grace is an active promoter of women’s empowerment and provides agricultural training for rural female farmers.

7. Joseph Tembo – Estimated net worth: $50–$80 million

A well-known figure in Malawi’s music industry, Tembo has generated wealth through music production, live concerts, and endorsement deals. He has also ventured into the hospitality sector, owning lounges and event spaces, and he supports music education by funding scholarships for emerging artists.

8. Patrick Banda – Estimated net worth: $40–$70 million

Banda is an experienced entrepreneur specializing in construction, infrastructure development, and real estate, particularly in commercial properties within Lilongwe. He also operates transportation and logistics businesses. Banda is committed to community development and funds vocational training initiatives.

9. Mercy Chirwa – Estimated net worth: $30–$60 million

Chirwa manages a thriving chain of pharmacies and medical supply distribution firms. She invests in healthcare facilities and real estate projects. Mercy dedicates significant effort to public health causes and advocates for women’s health issues.

10. Peter Kaunda – Approximate net worth: $25–$50 million

Kaunda accumulated his wealth in the energy industry, especially through the import and distribution of fuel, as well as operating comprehensive service stations. He ventured into renewable energy initiatives and investing in real estate. He also supports rural electrification efforts and provides vocational training in engineering.