Uganda is the third largest economy in East Africa and has given rise to numerous successful entrepreneurs and business magnates. We bring you the top 10 richest people in Uganda, showcasing their net worth, sources of wealth, and contributions to various industries.
1. Sudhir Ruparelia
Net Worth: $1.2 billion
Source of Wealth: Real estate, banking, insurance, education
Sudhir is the richest man in Uganda. He is the founder of the Ruparelia Group, has built a diverse conglomerate with interests in real estate, banking, insurance, and education. His developments have significantly transformed Kampala’s skyline, including luxury hotels, office buildings, and residential properties. Beyond business, Sudhir plays a crucial role in Uganda’s economic development.
2. Madhvani Family
Net Worth: $1 billion
Source of Wealth: Conglomerate
The Madhvani Family, often dubbed the “Rockefellers of Uganda,” owns the Madhvani Group, one of Uganda’s largest conglomerates. Their investments span across Kenya, Uganda, Rwanda, South Sudan, Tanzania, the Middle East, India, and North America. Key companies include Kakira Sugar Works, Excel Construction Limited, and Chobe Safari Lodge.
3. Hamis Kiggundu
Net Worth: $870 million
Source of Wealth: Real estate, agro-processing, logistics
Hamis Kiggundu, known as “Ham,” is a young entrepreneur who has significantly impacted Uganda’s real estate sector. His projects, including Ham Towers and Ham Shopping Mall, are well-known landmarks in Kampala. His entrepreneurial spirit and strategic investments highlight his rapid ascent in wealth. Ham is also a philanthropist, author, and lawyer.
4. Karim Hirji
Net Worth: $750 million
Source of Wealth: Real estate, hospitality, finance
Karim Hirji, chairman of the Dembe Group, has interests in real estate, hospitality, manufacturing, and finance. He is a prominent hotelier, owning the Imperial Group of Hotels, including the renowned Imperial Resort Beach Hotel. His portfolio also includes automobile dealerships and Cham Towers, formerly Uganda Commercial Bank Towers.
5. Alykhan Karmali
Net Worth: $700 million
Source of Wealth: Manufacturing, banking
Alykhan Karmali is the managing director of Mukwano Industries Uganda Limited, part of the Mukwano Group. He is one of the richest people in Uganda. The group is one of Uganda’s largest conglomerates with diverse interests. Karmali also serves as a non-executive director of Exim Bank (Uganda), where the Mukwano Group holds a significant stake.
6. Charles Mbire
Net Worth: $500 million
Source of Wealth: Telecommunications, finance, oil
Charles Mbire is a key figure in Uganda’s telecommunications industry, with significant holdings in MTN Uganda. His investments extend to finance and oil, making him a pivotal player in these sectors. Mbire’s strategic investments and leadership have solidified his place among Uganda’s wealthiest.
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7. Amos Nzeyi
Net Worth: $300 million
Source of Wealth: Beverages, real estate
Amos Nzeyi, chairman of Crown Beverages Limited, is instrumental in Uganda’s beverage industry as the official bottler of Pepsi products. His business ventures also include real estate and agriculture, establishing him as a leading figure in the country’s business community.
8. Sikander Lalani
Net Worth: $250 million
Source of Wealth: Manufacturing
Sikander Lalani is the founder of Roofings Group, the largest manufacturer of steel construction materials in Uganda. The company has a significant production capacity and employs over 3,000 people. Roofings Group has grown rapidly and is a major player in Uganda’s steel industry.
9. Gordon Wavamunno
Net Worth: $200 million
Source of Wealth: Automotive, media, real estate
Sir Gordon Wavamunno owns Spear Motors, the official distributor of Mercedes-Benz vehicles in Uganda. His diversified interests include media, through WBS Television, and real estate. Wavamunno is also known for his philanthropic efforts and contributions to social causes.
10. Abid Alam
Net Worth: $120 million
Source of Wealth: Steel, manufacturing
Abid Alam, CEO of the Alam Group, oversees one of Uganda’s largest conglomerates. The group includes a major steel rolling mill, a sugar milling company, and a shoe manufacturing business, among other ventures.
These individuals and families are not only the richest people in Uganda but also key contributors to the country’s economic landscape. Their diverse business interests and investments have helped shape various industries, driving growth and innovation across Uganda.