Published on 05/04/2025
Forbes has unveiled its 2025 list of Uganda’s top 10 richest individuals, showcasing the country’s thriving entrepreneurial spirit and steady economic growth. These influential business moguls have left a lasting impact across various industries, including real estate, manufacturing, agriculture, and finance, significantly shaping Uganda’s economic landscape.
Uganda’s business elite continue to make waves on Forbes Africa’s Billionaires List, with their vast fortunes spread across key sectors such as telecommunications, hospitality, and industrial manufacturing. Their success extends beyond business, as many are actively involved in philanthropy and social investment, uplifting communities and driving national development.
1. Sudhir Ruparelia
Topping the list is Sudhir Ruparelia, the founder and chairman of Ruparelia Group. His business empire spans real estate, hospitality, education and finance, cementing his status as Uganda’s wealthiest individual. One of his most notable achievements are Speke Resort Convention Centre, Kabira Country Club, Speke Apartments, Tagore Living, Bukoto Heights Club, Kingdom Kampala complex among others which are landmark developments redefining the capital’s skyline.
2. Drake Lubega
Ranked second, Drake Lubega has amassed his fortune—estimated at $850 million—primarily through real estate holdings in Kampala and other urban hubs. Owning multiple shopping complexes, arcades, and rental properties, Lubega has expanded into hospitality and manufacturing, diversifying his wealth sources.
3. Mansoor Matovu Yanga
With a net worth of $785 million, Mansoor Matovu Yanga is another heavyweight in the real estate sector. His commercial and residential properties dominate Kampala’s prime locations, while his investments in logistics and transportation ensure a steady revenue flow.
4. John Bosco Muwonge
A key player in Kampala’s commercial property market, John Bosco Muwonge holds an estimated $720 million in assets. His extensive real estate portfolio, including shopping malls, arcades, and luxury apartments, has positioned him as a major force in Uganda’s real estate sector.
5. Godfrey Kirumira
At number five, Godfrey Kirumira has built an empire worth $700 million, spanning petroleum, real estate, manufacturing, and hospitality. As the chairman of the Kwagalana Group, a network of Uganda’s wealthiest entrepreneurs, Kirumira continues to expand his business interests, particularly in the oil industry through GM Tumpeco.
6. Guster Lule Ntake
With an estimated net worth of $697 million, Guster Lule Ntake has made significant strides in hospitality, real estate, and agribusiness. His portfolio includes high-end hotels, resorts, and large-scale agricultural ventures, making him a key figure in Uganda’s business landscape.
7. Tom Kitandwe
Valued at $602.7 million, Tom Kitandwe has built his fortune through real estate, telecommunications, and agriculture. His vast land holdings and modern farming investments have positioned him as a major player in Uganda’s agribusiness sector.
8. Hamis Kiggundu (Ham)
One of the youngest billionaires on the list, Hamis Kiggundu, popularly known as Ham, holds assets worth $601.9 million. His real estate empire includes properties such as Ham Towers, Ham Shopping Mall, and the revamped Nakivubo Stadium. Beyond business, Kiggundu is a motivational speaker and author, actively advocating for youth entrepreneurship.
9. Christine Nabukeera & Charles Mbire (Tied)
Both valued at $600 million, Christine Nabukeera and Charles Mbire share the ninth position.
- Nabukeera has built her wealth through real estate and hospitality, focusing on luxury properties and commercial investments.
- Mbire, one of Uganda’s most prominent businessmen, has interests in telecommunications, finance, energy, and pharmaceuticals. As chairman of MTN Uganda, he has played a crucial role in shaping the country’s telecom industry.
10. Amos Nzeyi
Closing the list is Amos Nzeyi, with an estimated $250 million fortune. As founder of Crown Beverages Limited, the official bottler of Pepsi in Uganda, Nzeyi has successfully expanded into hospitality, real estate, and agriculture, earning a reputation for business consistency and resilience.
Beyond Wealth: Their Role in Uganda’s Development
While their financial success is remarkable, Uganda’s wealthiest individuals also contribute significantly to economic growth and social development. Their ventures create thousands of jobs, while their philanthropic efforts support education, healthcare, and community initiatives.
Several billionaires invest in local infrastructure, strengthening Uganda’s business environment.
Sudhir Ruparelia funds various educational institutions through the Ruparelia Foundation.
Hamis Kiggundu champions youth empowerment and business mentorship.
