Exploring Uganda’s Top 10 Richest People and Their Impressive Net Worth 

Names such as Sudhir Ruparelia, Hamis Kiggundu, and Haruna Sentongo come to mind when asked about the richest people in Uganda. While this is true, there are many other rich individuals, equally and some even wealthier than the rest.

Now, we don’t know who you consider to be the richest person in Uganda as of today, more so because there are a few new entrants and others that were kicked out of the list. Curious to find out?

Here are the top ten richest people in Uganda 

John Bosco Muwonge, $1.8 billion

The richest person on the list is John Bosco Muwonge, valued at roughly $1.8 billion. A lot of his wealth comes from the numerous commercial buildings he owns in Kampala.

The level of Mr Muwonge’s investment in the Kampala CBD has grown over the last few years. Currently, he is the owner of The Discount Mall,  Namanda, the Cooper and Cornerstone complexes, The Shamba Complex, the Shauriyako Ggagawala, the Namayiba bus terminal, and the Superior and New Arua Park complexes.

He also owns a street in Nabugabo, more than 40 construction project sites in Kampala, and about 400 acres of land in the Kisneyi region. Muwonge is valued at roughly US $1.8 billion.

Sudhir Ruparelia, $800 million

Sudhir Ruparelia is a business tycoon and businessman from Uganda. He was born on January 17, 1956. He serves as chairman and main shareholder for the Ruparelia Group of Companies.

His main investment interests are in the banking, insurance, education, media, real estate, floriculture, hotels, and resorts sectors.

With an estimated net worth of US$800 million, Forbes ranked Ruparelia as the 27^th richest person in Africa and the wealthiest person in Uganda in 2015. He was removed from the Forbes list in 2016.

According to Forbes and the Observer, the central bank of Uganda closed down its four currency bureaus in April 2017 as a result of unrenewable expired licenses, which were not renewed due to money laundering and a lack of fitness and probity on the part of the owners and board of directors.

Drake Lubega, $1 billion

Businessman Francis Drake Lubega, also known as Drake Lubega, is from Uganda. He was one of the wealthiest individuals in Uganda, according to a 2012 assessment.

Jesco Industries Limited (JIL) is the name of his investment entity and he’s the largest shareholder. On October 7, 2005, the company was officially founded. He has properties scattered all around Kampala, the capital city of Uganda. 

The Mukwano Family (Alykhan Karmali), $900 million

One of the wealthiest immigrants born in Uganda is Alykhan Karmali. He is worth $900 million, according to Forbes. He is an entrepreneur, businessman, industrialist, and philanthropist.

He is the managing director of the Mukwano Group member company Mukwano Industries Uganda Limited.

His grandfather, Ali Mohamed Karmali, Alykhan’s paternal grandfather, was an entrepreneur of Indian descent. He moved to Uganda in 1904. Later, he worked in Jinja as a store assistant before relocating to Mbarara in Uganda’s Western Region.

Karim Hirji, $800 million.

One of the richest people in Uganda is a hotelier, businessman, and entrepreneur. He is none other than Karim Hirji. His estimated net worth is over US$800 million, making him one of the richest people in Uganda.

Hirji won numerous championships in auto racing in the 1960s and 1970s. From a shop in the heart of Kampala, he started selling textiles and alcoholic beverages in the late 1980s and early 1990s.

His original business, Dembe Enterprises, later grew into the Dembe Group of Companies, a conglomerate that now owns a radio station, an auto dealership, a finance and insurance company, an amusement park, and the Imperial Hotels Group. 

Additionally, he owns the Cham Towers, a building that was formerly known as the Uganda Commercial Bank Towers.

Kitandwe Tom, $ 750 million.

Kitandwe Tom is the owner of an enormous amount of properties, including the Giant Shopping Arcade in Kikuubo, the Nakasero Complex on Nakivubo Road, the Mid City Arcade on Nakivubo Road, and the Mackay Buildings on Old Rashid Kaharmis Road, among others. Additionally, he has structures at Parkyard, Arua Park, and the area behind Gazaland. He has a 750 million dollar fortune.

Hamis Kiggundu, $870 million 

Commonly known as Hamis, Hamis Kiggundu was born in Uganda on February 10, 1984. He is a businessman, investor, property developer, humanitarian, author, and lawyer.

As the CEO of the Ham Group of Companies and the author of Reality and Reason as the World Masterpiece and Success and Failure Based on Reason, Kiggundu is well-known in his field.

With an estimated net worth of $870 million (based on the March 2021 Forbes List), he is one of the richest people in Uganda.

Christine Nabukeera, $580 million

Senga Nabukeera is a nickname for Christine Nabukeera especially among fellow rich Ugandans. In Kampala, she is also a real estate tycoon. 

According to stories, she served as the foundation upon which the wealth of her relatives, John Sebalamu, John Bosco Muwonge, and Haruna Segawa, was amassed. And, elsewhere, Nabukeera is the owner of the Kisekka Auto Center Plaza, the Victor Plaza in Kikuubo, and the Nana Arcade in Nabugabo.

John Sebalamu, $550 million

The culture of the dotted shopping arcades in the centre of Kampala is linked to John Sebalamu, a multi-property owner in Uganda. Mr John is the owner of numerous properties in Kampala, including the Freedom City Mall, which he purchased for US $1 million. 

Other properties that he owns include Capital House, Naiga Chambers, and several other well-known buildings.

Haruna Sentongo, $450 million

Millennial entrepreneurs Haruna and Hamis have grown their riches by making sensible investments using the knowledge gained from their family’s firm. Currently, Haruna owns Haruna Towers in Kisenyi, the Old Africana agro market, Segawa market( it has two blocks), Nakayiza market( it has 12 blocks), NM Apartments, about four acres of undeveloped land in the same area, a shopping mall, and Haruna Towers Ntinda. All these trade under the name Haruna Enterprises. 

It is said that Mengo Kisenyi has become a prime commercial hub thanks to Haruna and Hamis.

Conclusion 

The wealthiest person in Uganda as of 2023 is John Bosco Muwonge. This might come as a surprise to some as they may expect or expect the slot to go to Sudhir Ruparelia.

We understand this but only because Sudhir got a major setback when he lost his bank, Crane Bank, to the Bank of Uganda. None the less he made it to the list of tycoons in Uganda alongside other Ugandans whom we’ve listed above.