Uganda is one of the fastest growing economies in East Africa with successful entrepreneurs making large profits in banking, real estate, manufacturing, telecommunications, agriculture and energy. Uganda does not officially have a rich list every year but there are several businesspeople known for their wealth, investments and influence.
Below are the top 10 richest men in Uganda based on information available in open business publications and estimated net worth.
1. Sudhir Ruparelia
Sudhir Ruparelia is considered the Uganda’s richest man. He was born in Uganda and of Indian descent and is the founder of the Ruparelia Group, the biggest privately owned business conglomerate in East Africa.
His investments include:
- Luxury hotels
- Commercial buildings
- Residential apartments
- Schools and universities
- Insurance
- Agriculture
- Floriculture
Current Net Worth: $5.62 billion (as of 05/18/2019)
He has a portfolio of hundreds of commercial and residential properties in Uganda.
2. Drake Lubega
Drake Lubega is one of the biggest property holders in Uganda. He began his career from scratch and established an empire in real estate development.
He has business interests with:
- Shopping malls
- Commercial buildings
- Residential apartments
- Rental properties
Net Worth: Unspecified
3. Charles Mbire
Charles Mbire is a prominent investor in telecom, finance, healthcare, energy, and manufacturing.
He is a member in the boards of several big companies and is famous for his strategic investments in East Africa.
Annual Revenue: $250 million
4. Amos Nzeyi
Amos Nzeyi is a distinguished and successful businessman and industrialist.
His investments include:
- Manufacturing
- Beverage production
- Banking
- Hospitality
- Agriculture
For decades he has been active in the private sector in Uganda.
Estimated Net Worth: Approximately $400 million
5. Patrick Bitature
Patrick Bitature leads the diversified Simba Group in telecommunications, real estate, hospitality, energy and finance.
He has made important investments in luxury hotels and commercial developments.
Net Worth: $350 million (estimated)
6. Godfrey Kirumira
Godfrey Kirumira made his wealth in the fuel distribution and petroleum products industry.
He has a business portfolio of:
- Fuel stations
- Petroleum imports
- Real estate
- Manufacturing
Net Worth: $300 million (estimated)
7. Hamis Kiggundu (Ham)
Hamis Kiggundu is one of Uganda’s youngest rich businessmen.
He is also the owner of several landmark buildings in Kampala and popularly known as “Ham”.
His businesses include:
- Real estate
- Shopping malls
- Hotels
- Agriculture
Net Worth: An estimated $250 million.
8. Gordon Wavamunno
Gordon Wavamunno is a business veteran, widely known for his automobile dealerships and real estate investments.
He has also made investments in manufacturing, commercial property development.
Birthday: May 2, 1929
9. Sikander Lalani
Sikander Lalani is the chairman of the Roofings Group, one of East Africa’s largest steel manufacturers.
His company produces:
- Steel products
- Roofing materials
- Industrial equipment
On family net worth: $180 million (approx.)
10. Alykhan Karmali
Alykhan Karmali is a successful businessman, who has interests in manufacturing, logistics, hospitality and agriculture.
He has invested in various ventures and is one of the richest Ugandans.
Net Worth: $150 million (estimate)
The wealth creating industries in Uganda.
Most of the wealthiest businessmen in Uganda have made their wealth in the following industries:
- Real estate
- Manufacturing
- Banking and finance
- Telecommunications
- Agriculture
- Hospitality
- Energy
- Petroleum
- Education
These industries remain the source of economic activity and local and foreign investment.
Conclusion
Sudhir Ruparelia is undoubtedly among the richest businessmen in Uganda, boasting a net worth of well over $1 billion, when talking about the top 10 richest man in Uganda. He is succeeded by other notable entrepreneurs like Patrick Bitature, Charles Mbire and Drake Lubega who have established successful business empires in several industries.
However, the net worth figures of these individuals are not available in public records and different estimates from various sources have been put forward indicating that they are the most influential business people in Uganda. They keep investing in the economy of the country, which is reflected in job creation, infrastructure development, and promoting entrepreneurship.
