Some of the wealthiest people in Africa reside in Uganda, where their fortunes have been amassed via a variety of sectors including real estate, banking, hospitality, media, insurance, education, agriculture, and labor export. So without much talk, below are the top 10 richest Ugandans in 2024 with an exception of politicians.
Sudhir Ruparelia
Businessman Sudhir Ruparelia from Uganda has long occupied the top spot on the country’s affluent list. Under the Ruparelia Group, he owns and operates more than 17 businesses with a variety of interests, including real estate, hospitality, banking, media, insurance, education, agricultural, and labor export. It is estimated that he is worth more than USD 1.5 billion.
The Madhavani Family
One of the biggest corporations in Uganda is the Madhvani Group of Companies, also known as the Madhvani Group. The organization has holdings in the Middle East, India, Tanzania, South Sudan, Kenya, Rwanda, Uganda, and the United States of America.
Sugar, biomass energy, ethanol, matches, packaging, insurance, steel, tea, construction, horticulture, real estate, hotels, and resorts are among the businesses in which the Madhvani family is involved. Muljibhai Madhvani established the Madhvani Group in 1962, shortly before Uganda attained independence, and it still exists today.
Mohammed Hamid
Mohammed Hamid is a businessman from Uganda who is interested in agriculture, real estate, and hospitality. Aya Group, which includes Aya Investments, Aya Hotels, and Aya Farms as subsidiaries, was founded by him and he currently serves as its chairman.
It is estimated that he is worth more than USD 1.2 billion and he is among the top 10 richest Ugandans right now in 2024.
John Bosco Muwonge
Among Uganda’s wealthiest individuals is John Bosco Muwonge. The likes of Cooper Complex, New Arua Park Complex, Superior Complex, Gwanda Mall in Kisenyi, Namayiba Bus Terminal, and numerous more properties are all owned by him. His primary business interests are in real estate, manufacturing, transportation, and banking, among other industries.
His net worth exceeds USD 1.5 billion and this places him among the top richest Ugandans right now.
Sikander Lalani
Formerly a histopathologist in Uganda, Sikander Lalani is a businessman, industrialist, and MD of Roofings Group. He is reportedly among Uganda’s wealthiest individuals. Over the past 20 years, Lalani has established a steel manufacturing conglomerate in Uganda that consists of three distinct plants.
He received his training as a histopathologist and worked as a practitioner in London for two years. His net worth is estimated to be $1 billion USD, and his enterprises are grouped together under the Roofings Group.
Karim Hirji
He is a businessman, hotel owner, and entrepreneur from Uganda. In Uganda, Hirji ranks fifth in terms of wealth, with an approximate net worth of USD 800 million. He started off by trading textiles and alcoholic drinks from a shop on Kampala’s Luwum Street. And now he owns numerous hotels in Kampala like Arcadia Suites in Mulago.
Alykhan Karmali
He is a businessman from Uganda who is interested in agriculture, real estate, and hospitality. The Mukwano Group, which includes Mukwano Industries, Mukwano Investments, and Mukwano Farms as subsidiaries, was founded by him and he serves as its managing director. It is estimated that he is worth around USD 750 million.
Mukesh Shukla
Apparently Mukesh Shukla is a businessman from Uganda who has a passion for agriculture, real estate, and hospitality. He is the creator and chairman of Shumuk Group, which includes Shumuk Properties, Shumuk Foods, and Shumuk Tours among its many companies. It is estimated that he is worth around USD 600 million.
Hamis Kiggundu (Ham)
Ugandan businessman Hamis Kiggundu has a background in agribusiness, banking, and real estate. Ham Properties, Ham Forex Bureau, and Ham Agro are just a few of the companies that are part of Ham Enterprises, of which he is the creator and CEO. Forbes projected in March 2021 that he was worth over USD 870 million, which implies that he must currently be worth over USD 900 million.
Patrick Bitature
Patrick Bitature is a businessman from Uganda who is interested in energy, hospitality, and telecommunications. He is the chairman of the Simba Group, which includes Umeme, Simba Telecom, and Protea Hotels among its many businesses. It is estimated that he is worth around USD 350 million.
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That is the list of Uganda’s richest people with their businesses mentioned, 2024 is a year where we have not seen any newbie on the list of the rich in Uganda. This means that they have protected their wealth so jealously.
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