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Who Are the Richest Men In Uganda ? Top10 Men Unveiled

In the vibrant landscape of Uganda’s economy, a select group of individuals have risen to prominence, amassing substantial wealth through their entrepreneurial endeavors and business acumen. In this article, we delve into the lives and achievements of the richest men in Uganda, shedding light on their remarkable journeys to success and their significant contributions to the nation’s economic development.

These individuals’ wealth demonstrates their dedication, strategic vision, and commitment to driving economic progress in Uganda. Their diverse investments and contributions shape the country’s business landscape, inspiring entrepreneurship, innovation, and determination.

Who Are the Richest Men In Uganda ? Top 10 Men Unveiled

Here is the list of young people Who Are the Richest Men In Uganda:

1. Sudhir Ruparelia: Net Worth: $1.2 Billion

Sudhir Ruparelia is a Ugandan business magnate and investor of Indian origin. He is the chairman and majority shareholder in the companies of the Ruparelia Group. His investments are mainly in the areas of banking, insurance, education, broadcasting, real estate, floriculture, hotels, and resorts

Born 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. 

Sudhir Ruparelia is currently the richest man in Uganda , with an estimated net worth of USD1. 2 billion.

2. Karim Hirji: Net Worth: $800 Million

Karim Hirji is a businessman, hotel owner, and entrepreneur in Uganda. He is reported to be one of the wealthiest individuals in Uganda, with an estimated net worth of about US$800 million.

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 one of the most influential individuals in the country. 

3. Alykhan Karmali: Net Worth; $700 Million

Alykhan Karmali is a businessman, entrepreneur, industrialist, and philanthropist in Uganda. He is the managing director of Mukwano Industries Uganda Limited, a member company of the Mukwano Group.

Alykhan is also one of the major investors in the banking and manufacturing sectors. Being a businessman, entrepreneur, and 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. 

4. Mohammed Hamid: Net Worth: $400 Million

Mohammed Hamid (born 1976) is a Ugandan business magnate and investor. He is the owner and chairman of the executive board of directors for the Aya Group.

According to Forbes in 2015, he was the second richest African under 40, after Tanzanian multi-millionaire Mohammed Dewji. He is currently the 2nd wealthiest individual in Uganda with an estimated networth of 

Born 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. 

5. Charles Mbire, Net Worth: $400 Million

Charles Magezi Mbire is a businessman, entrepreneur, and industrialist in Uganda. He was reported to be the wealthiest indigenous Ugandan, with an estimated net worth exceeding US$200 million as of January 2012.

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. 

6. Sikander Lalani – Net Worth: $300 Million

Sikander Lalani is a businessman, MD at Roofings Group entrepreneur, industrialist, and former histopathologist in Uganda. He is reported to be one of the wealthiest individuals in Uganda.

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. 


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