- Mohammed Abdillahi Ogsadey
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Mohammed Abdillahi Ogsadey
محمّد عبدالله عغسادييBorn Gabiley, Somalia Nationality Somali Occupation Businessman Known for Founder of MAO Harar Horse Net worth $25 million USD Mohammed Abdillahi Kahin 'Ogsadey (Somali: Maxamed Abdulaahii Ogsadeey, Arabic: محمّد عبدالله عغساديي) (b.1920s-2006) was a Somali business tycoon based in Ethiopia, where he established MAO Harar Horse, the first African corporation to export coffee.[1]
Contents
Biography
Ogsadey was born to a poor family in Gabiley, Somalia in the mid-1920s. His father Abdillahi Kahin was a poor trader that would die at a very young age and his mother would come to fill in the gaps of raising four sons and a daughter. Three of his brothers; Ali Abdillahi and Adan Abdillahi, would be greatly involved in the coffee business and Haji Askar Abdillahi remain in Gabiley, eventually building his own name. Ogsadey and his two brothers would eventually move to Ethiopia in search of a job and a better future. Ogsadey had a very humble beginning as a truck driver. Later, they would start the M.A.O. Corporation in 1942, a coffee import and export empire, believed to be one of the largest in East Africa, going back almost six decades. Ogsadey dealt with the Coffee, Ali took care of the management of the day-to-day transactions while the youngest Adan handled the transportation of the goods. Ogsadey has 20 children and numerous nieces, nephews, and grandchildren, who are either closely involved in his vast empire or studying abroad. A man who made sure anyone related to him was taken care of and the less fortunate were employed, Ogsadey would often attribute his love of family as the principal reason behind his success. Nicknamed "Ogsadey" for his hard work which paid off, he eventually stretched his business to three continents.
“A good name is far better than a good deal of money.” –M.A.Ogsadey
Wealth
Ogsadey never discussed his wealth in public. There is a great deal of debate as to how much Ogsadey's net worth is, though most estimate it must have been a minimum of $275 million U.S. Dollars (over 3 billion Ethiopian Birr) at the time of his death. At one point in the 1980s, he was the richest person in Ethiopia, a position that would later be occupied by the billionaire Mohammed Al-Amoudi.
Ogsadey's net worth could easily surpass that, since the above estimation comes from his ready to see properties around the Horn of Africa and North America. He is believed to have owned numerous companies, factories, oil companies and gas stations around the world. Throughout his long career, he had become a dominant figure in different industries including coffee, real estate, gas stations and banking to name a few.
Ogsadey is believed to be the second largest share holder in Wegagen Bank which he would open a branch in Wajaale, Somalia. His investment in the bank alone is rumored to be in the tens of millions of Ethiopian Birr. He is also believed to be one of the largest land owner in Ethiopia, though the previous regime of Mengistu Hailemariam had confiscated vast amounts of lands that could easily be worth millions of Ethiopian Birr today. At one point his coffee business was taken away from him in 1977, based on the accusation that he supplied money to Somali rebels, but it would be returned when the price of coffee and the export quota dropped. That is one reason why he has never entered politics or supported anyone in it.
Charity work
Ogsadey has given generously for the past 60 years to make a difference in Ethiopia. Building schools, hospitals, and a mosques in every city he has stayed in Province 5. He even sponsored cycle and soccer clubs to compete over-seas for Ethiopia. He has always lived amongst his country men rather than abroad only leaving once a year for check-ups to America. His last charitable work was donating $254,000 USD to Dil Chora Hospital in Dire Dawa over the next coming 5 years. It would open its doors in 2007 by his family in his honor to serve the poor.
Death
Ogsadey died on February 9, 2006 of a massive heart attack outside of Jijiga on his way to Somalia after the death of his sister Halimo Abdillahi in Gabiley, Somalia. His legacy and his business will thrive through his family.
References
Categories:- Somalian businesspeople
- Ethiopian businesspeople
- 2006 deaths
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