Agriculture, the backbone and cornerstone of Uganda’s economy, has provided livelihoods for millions of Ugandans and plays a crucial role in food security and export earnings, contributing 24.2% to the economy, while industry makes up 25.5% and services account for 50.3%. However, the Pearl of Africa is also home to some of the wealthiest businessmen, who have risen from humble beginnings to dominate the business world. Through their entrepreneurial skills, they have built, managed, and directed companies, earning the title of businessmen in Kampala and becoming true tycoons in Uganda’s thriving economy.
1. Sudhir Ruparelia
Sudhir Ruparelia is a Ugandan business investor, born on 17th January 1956, and is the founder, chairman, and majority shareholder of the Ruparelia Group of Companies. His investments span across various sectors, including insurance, real estate, broadcasting, hotels, floriculture, education, and banking.
Topping the list of Uganda’s wealthiest individuals, Sudhir is believed to have started with just $25,000, saved during his time in the United Kingdom. He officially settled in Uganda in the 1980s as a beverages merchant and later as a foreign currency dealer. Over the years, Sudhir has become one of the most successful businessmen in Kampala.
2. Hamis Kigundu
Born, in 1984, Hamis Kigundu also famously known as Ham is a one Ugandan businessman, author and lawyer, the CEO of the Ham Group of companies who is as of 2024 among the top Ugandan richest individuals by net-worth of 1.02billion.
At the age of 40years, Ham is the founder of Ham Enterprises ltd which includes the famed Ham tower and Ham shopping grounds in the heart of Kampala city. He is not only Uganda’s leading philanthropist but also deals in vast real estate holdings, hospitality, logistics and agro-processing , international trade to mention but a few.
Ham has also through charities made some society returns under the Ham Foundation. From most of his dealings and investments, he has managed to build commercial buildings, luxury houses which sum up the $49million re-development project whose works were recently concluded and officially re-opened alongside the President of Uganda H.E Yoweri Kaguta Museveni through a celebration that left on lookers with no choice but dropped jaws at the stadium itself (Nakivubo Stadium).
Located on the shores of lake Victoria, Ham owns a 5 multimillion dollar mansion which is believed to be one of the most biggest luxurious homes on the country. However, the tycoon is focused and working on his Ham Agro Bank in addition to his agro processing industry headquarters located at his Akright Entebbe road based industrial complex. Ham Kigundu is however, also developing the ‘Ham Palm Villas’ which is a luxury residential estate comprised of 500 fully serviced modern houses on 200 acres of land which makes it the largest most luxurious residential society in Uganda.
Read More: The Most Expensive Houses in Uganda
3.Karim Hirji
Regarded as the second wealthiest individual in Uganda, Karim Hijri is a prominent businessman, entrepreneur, and owner of the Imperial Hotels in the city. With an estimated net worth of $800 million, Karim has built a strong business empire.
He is also the main architect behind the Dembe Group of Companies, which has evolved into a major conglomerate in Uganda, solidifying his position as one of the leading businessmen in Kampala.
4. John Bosco Muwonge
Referred to as an allusive billionaire who is rarely spotted in public, John Bosco is one of the wealthiest businessmen in Kampala. It is however believed that unlike the other billionaires like Sudhir Ruparelia,who make and spend their monies in charities and cooperate responsibility activities, Muwonge collects all his money from his commercial buildings and takes it all.
John Bosco owns Namanda cooper complex, Namayiba bus terminal, New Arua park complex, a street in Nabugabo and owns over 40 construction sites in Kampala to mention but, a few. His net-worth is therefore over $1.8billion.
5.Sikander Lalani
Well known as the managing director at Roofings Group, Sikander Lalani is a histopathologist born on November 4th, 1944, at Nsambya Hospital in Uganda. A prominent businessman and industrialist, he is known for his investment dealings in steel manufacturing. Following the Rwanda genocide in 1994, Lalani abandoned his business and fled to Tanzania, later relocating to Uganda due to the bureaucracy in Tanzania.
With the assistance of the World Bank and a few loans, Sikander Lalani built a steel manufacturing conglomerate in Uganda that generates US$60-70 million per year in exports and employs over 1,500 people. His companies include Roofings Limited (1994), Rolling Mills (2009), and Roofings Polypipes (2010), which produce a wide range of steel products in the East and Central African region. With a net worth estimated at around $300 million, he is considered one of the most influential businessmen in Kampala.
All these business moguls at-least own a percentage of most of the famed businesses and buildings in the heart of Kampala city according to our closest sources.
