List of wealthiest men in Uganda. Known as a landlocked country in the East-Central of Africa, Uganda is a country known for exporting needed materials like coffee, fish, maize, cement, tobacco, sugar, hides and skins, cocoa beans, and a host of others. In fact, in 2015, these commodities boosted the economy of the country massively.
In addition to the numerous exporting activity of the country, the country has also witnessed consistent economic growth with crude oil and natural gas. Also, agriculture has been known as a major contributor to the growth of the economy.
However, despite being a rich and developing country, Uganda also houses numerous millionaires and billionaires. In fact, some of her citizens on the list of richest men in Uganda occupy some position in the Forbes List of rich individuals in the World.
Top 10 Richest Men In Uganda 2020
1. Sudhir Ruparelia – Net Worth: $1.2 Billion
Known as a renowned and fortunate tycoon, Sudhir Ruparelia occupies the first position in the list of richest men in Uganda. He is known as a fortunate man because he started his business with a meager sum of about $25,000. Apart from being a businessman, he is also known for making huge investments in sectors like real estate, broadcasting, education, insurance, banking, and others.
Given birth to in Kabatoro, Sudhir Ruparelia comes from an upper-middle-class Indian Gujarati family. Recently, in 2020, he was appointed as an honorary consul of the Republic of Nepal to Uganda by the President of Nepal. Sudhir Ruparelia is married to Jyostna since 1977 and they are blessed with three children.
2. Karim Hijri – Net Worth: $800 Million
In Uganda, Karim Hijri is usually regarded as the main force behind the presence of the Dembe Group of Companies. The second richest person in Uganda, Karim is an entrepreneur that has been known for solving issues in Uganda, thereby generating money for himself. Given birth to on the 11th of November, 1950, Karim Hijri was a champion automobile race drive during the 1960s and 1970s.
Karim Hijri’s company today has subsidiaries named Dembe FM, a radio station; an automobile dealership, a finance and insurance business, an amusement park, and numerous hotels under the Imperial Hotels Group. Additionally, he is also the owner of Cham Towers, which was the former Uganda Commercial Bank Towers. With Kampala as his hometown, he is also considered as one of the most influential individuals in the country.
3. Alykhan Kharmali – Net Worth; $700 Million
Alykhan Kharmi is considered a notable individual in Uganda under the aegis of the Mukwano Family. This also drags him into the list of the richest men in Uganda. Additionally, he is the brain behind the development of one of the famous companies in Uganda known as the Mukwano Group of Companies. Just like many other entrepreneurs in the country,
Alykhan is also one of the major investors in the banking and manufacturing sectors. Being a businessman, entrepreneur, and an industrialist, Alykhan Kharmi served as a non-executive director of Exim Bank which is a commercial bank in Uganda. Under his tenure, the Mukwano Group Initiative maintains 36.5 percent shareholding. Alykhan Kharmali actually inherited the family business from his father named Amirali Karmali.
Alykhan is known as a reputable and diligent businessman in Uganda. This is mainly because of his behavior towards tackling unemployment in the country. Under a powerful family called Mukwano Family, Alykhan is always found in the vanguard of competing with other rich individuals in the country. Currently, he is the CEO and the main force behind the Mukwano Group of Companies which is one of the most famous companies, not only in Uganda but entire Africa. Today, he is able to maintain such a position by centering most of his investments in other sectors like banking and manufacturing.
4. Mohammed Hamid – Net Worth: $400 Million
Mohammed Hamid is considered one of the richest young millionaires in Uganda having emerging into the class of richest personalities at a very youthful age. Being an Uganda business magnate and investor, he has made huge investments in sectors like transportation, real estate, manufacturing, and a host of others. Currently, he is the chairman and a majority shareholder in the Aya Group of companies.
Given birth to in 1976, Mohammed Hamid was the second richest African under the age of 40 after Mohammed Dewji, who is a Tanzania. In the early 1990s, he worked with his elder brother until when he founded his first company called Pan Afric Commodities, which is also a commodities trading company. Afterward, he bought one of Sudhir Ruparelia’s milling machines from Premiere Mills.
In addition to being an active businessman and entrepreneur, he is also a philanthropist and this has been supported by the enormous amount of money and properties he has donated in such course. With the rate at which his wealth is growing, he may exit the fourth position in the years to come.
5. Charles Mbire – Net Worth: $400 Million
Charles Mbire is the wealthiest native Uganda as many of the richest men in Uganda of the foreign descents. Being an entrepreneur and an investor, Charles was born in the year 1959 in Mparo, Rukiga District. Mbire is a co-founder and member of the board of directors of numerous Uganda businesses including Afro Alpine Pharma Limited, MTN Communication Uganda Limited, Polino Holdings Limited, Bomi Holdings Limited, and a host of numerous others.
Other notable posts Charles has served include being the chairman of the Uganda Securities Exchange in 2010, a member of the Presidential Investor Roundtable which comprises an elite group of businesspeople who give advice to the President of Uganda on how best to improve the business competitiveness and conditions in the country. His investments have run across numerous industries including Pharmaceutical, telecommunication, real estate, energy, agribusiness, and finance.
Another interesting fact to know is that Charles Mbire actually didn’t start on a platter of gold and his story always serves as a form of motivation and inspiration for emerging businessmen or women and entrepreneurs.
6. Sikander Lalani – Net Worth: $300 Million
One of the oldest entrepreneurs in the history of Uganda is Sikander Lalani. Being the brain behind the establishment of Roofing Groups, Sikander occupies the sixth position with a net worth of $300 Million. Being an Uganda businessman, entrepreneur, industrialist, and histopathologist in Uganda, Sikander was given birth to on the 4th of October, 1944 in Nsambya Hospital, Uganda. After leaving medicine in the early years of the 1970s, he established a retail electronics store that specializes in buying and selling Philips Brand in Kigali, Rwanda. Afterward, he became a distributor of Goodyear tyres in Rwanda. He has built a steel-manufacturing conglomerate in Uganda which consists of three separate factories that have been organized into the Roofings Group.
Anybody that has an investment in the roofing sector and is not familiar with Sikander Lalani is not actually an active member of the sector. This is because he is a known and important figure in the sector.
7. Aaron M. Mukooza – Net Worth: $200 Million
Here comes the media guru by the name Aaron Mukooza, he is one of the richest entrepreneurs in Uganda. In addition, he is considered as a major investor with his investments running across sectors like the media and banking sectors. It is a major belief in Uganda that he harnessed many of his profits from investments and the ability to use his creative mind.
8. Gordon Wavamunno – Net Worth: $100 Million
Just like with many other entrepreneurs in the country, Gordon has investments across numerous companies including Wavah FM, Wavah Water Limited, GM Tumpeco Limited, and numerous others. In 2013, he was appointed Knight of the Order of Saint John. He was also honored with an honorary doctorate degree from Makerere University. As a philanthropist, he has donated numerous materials to different associations and organizations in the country.
9. Mukesh Shukla – Net Worth: $100 Million
Occupying the ninth position on the list of richest men in Uganda is Mukesh Shukla. Given birth to in 1962 in Arua, Arua District, Mukesh has businesses that are organized under the Shumuk Group. Some of the companies include a milk processing plant, a money-lending business, a foreign exchange bureau, and a host of others. He contested for the chairmanship of the ruling National Resistance Movement in 2016 against the incumbent Hassan Bassajjabalaba. It is a common belief in Uganda that his company is the source of his wealth.
10. Patrick Bitature – Net Worth: $100 Million
Patrick Bitature is one of the wealthy personages in Uganda who has been known for harness his wealth from his giant telecommunication company known as Simba Telecom. The company is usually regarded as Uganda’s biggest seller of MTN airtime. His company also has interests in other sectors including energy production, mining, media, real estate, travel, and leisure. He is also the owner of Protea Hotels East Africa.
Uganda bordered by countries like Rwanda, South Sudan, Democratic Republic of Congo, Tanzania, is a country known for its consistent economic growth. This has increased the fame of the country on a global view. Additionally, the number of rich individuals in the country has increased over the past years. This has been linked to the numerous opportunities available in the country.
A fast-growing economy situation in the country has contributed to the many investments carried by Ugandans, thereby growing the economy very fast. That’s all about the richest men in Uganda.