Are you in search of the top 10 richest men in Uganda? Then, this post is for you as it has listed for you the richest men in Uganda in accordance with the Forbes Listing of World Billionaires 2029.
Uganda, is a country located in the East-Central part of Africa, is located in the Africa Giant Lake Region. The country is also known to be associated with the Nile Basin and has counties like Rwanda, South Sudan, Democratic Republic of Congo, Tanzania along her borders. Apart from being located in a strategic spot in Africa, the country is also widely known for her fast-growing economy that creates an atmosphere that pulls in investors.
Just like with many other African countries, Uganda is also endowed with wealthy individuals that do not only have enormous money in their pulse but also help to improve the economy of the country. In fact, GDP is on the increasing side for the past few years. This is also, in part, due to the technological advancement in neighbouring country like Rwanda. This is supported by the fact that Rwanda is currently the country with the fastest-growing economy in Africa.
However, despite the enormous number of rich individuals in the country, there is paucity of knowledge about their net worths. This post, therefore, aims at providing for you the list of the top 10 richest men in Uganda based on the ranking of World Billionaires by Forbes.
Top 10 Richest Men in Uganda 2019
1. Sudhir Ruparelia 7(Net Worth of $900 Million)
The richest man in Uganda, according to Forbes 2019, is Sudhir Ruparelia, who is known for his wealth and philanthropic activities. Before now, he was the main richest man in the Eastern Part of Africa. He is known as one of the very few entrepreneurs that every emerging entrepreneur must take as a mentor. He is widely known across Uganda and East Africa for rising into the hall of fame despite starting his business with a meagre of $25000.Today, what the business has achieved is more rewarding than many other companies that started with a hefty amount of money. Being a businessman and an innovative one at that, he ensures to pick his area of investment in a unique dimension. Some of the deals his company deals with are those in education, health, broadcasting, and many others.
2. Karim Hijri (Net Worth of $750 Million)
The second richest individual in Uganda is Karim Hijri, who is well known for his entrepreneurial and innovative experience. He is someone that engaged in a chronic research in order to satisfy the needs of his countrymen. The result of his research gave birth to the establishment of Dembe Group of companies. The company strives majorly by depending on subsidiaries like Imperial Group of Hotels, Dembe FM, etc. In case it is your dream to be an entrepreneur, read about Karim Hijri and your success is near.
3. Alykhan Kharmali (Net Worth of $700 Million)
The third richest man in our rundown is no other person than Alykhan Kharmali. 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 of $400 Million)
Mohammed Hamid is indeed one of the luckiest and youngest millionaires that Uganda has ever witnessed. He is known for pulling a large amount of fortune at a very young age. In most of his investments that include real estate, manufacturing, and transportation, he is usually either the youngest or second to the last in the list of young businessmen in the deal. Currently, he controls one of the driver of Uganda’s economy called Aya Group of Company. In addition to being an active businessman and entrepreneur, he is also a philanthropist and this has been supported with 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 of $350 Million)
And here comes another optimistic and active businessman who is actually the wealthiest native Ugandan. Looking at our rundown, most of the rich individuals in Uganda are of foreign descents. Charles indeed deserves some accolades. Being an entrepreneur who sees opportunity in every situation, he currently has investments in different sectors including transportation, energy, finance, telecommunications, pharmaceutical, agriculture and many more. Due to his enormous investment, he currently occupies the fifth position of the richest Ugandan. Another interesting fact to know is that he 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 of $300 Million)
Anybody that has an investment in the roofing sector and is not familiar with Sikander Lalani is not actually an active member in the sector. This is because he is a known and important figure in the sector. In fact, most of his investments are majorly in the sector. In fulfillment of his business idea, he established a company called the Roofing Groups of Companies. The company is today one of the major companies in Uganda, endowed with the responsibility of providing roofing equipment. He is also one of the few individuals in the country that venture into entrepreneurship when the space was still young.
7. Aaron M. Mukooza (Net Worth of $200 Million)
Here comes the media guru by the name Aaron Mukooza. He is a businessman that ventures into the banking and media sector, therefore, offering services of different kinds to the people of Uganda. However, he also has an investment in other sectors with the aim of increasing his financial load. This has enabled him to stably maintain his current position in the list of richest men in Uganda today.
8. Gordon Wavamunno (Net Worth of $100 Million)
The eighth richest man in Uganda is an expert that specializes in the automobile business. Due to his professionalism, he has acquired an enormous amount of money that enables him to occupy a spot in the list of the richest man in Uganda. Currently, he is the owner of an automotive company called Spear House. In addition, he has another company that deals with Motors called Spear Motors. However, he is likely to diversify in his years to come investments. Also, his journey into entrepreneurship is a must-read for all emerging entrepreneurs.
8. Mukesh Shukla (Net Worth of $100 Million)
Mukesh Shukla and Gordon Wavamunno are both occupying the eighth position with the sum of $100 Million. Being an entrepreneur, he is well known for exploring any opportunity that comes his way all in the bid of increasing the weight of his financial pulse. In fact, he has a company that works with the aim of serving Ugandans with cooking utensils and equipment. The name of the company is Shumuk Group of Companies. Due to its strategic administration, the company is one of the most successful companies in Uganda. With the way things are going for him, he may exceed Gordon Wavamunno in the coming years.
9. Patrick Bitature (Net Worth of $100 Million)
And here comes the telecommunications guru that is known to have acquired an enormous amount of money in the company over the past years. His telecommunications company called Simba Telecom is actually the pillar behind his $100 Million Net Worth. Currently, the company is the largest seller or merchant of MTN airtime in the whole of Uganda. He is indeed one of those that make use of the enormous opportunities presented by telecommunications in the 21st century.
Uganda is a developing country just like many other countries in the World, however, unlike other countries, Uganda is expected to become a developed country in the few years to come. This is because of the fast-growing economy situation in the country. This situation can be attributed to the many investments carried by Ugandans, thereby growing the economy very fast.
That’s all about the richest men in Uganda.
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