Uganda’s economic landscape has witnessed significant transformation over the years, with several business magnates playing a crucial role in its development. The country’s wealthiest individuals have amassed their fortunes across diverse sectors, including real estate, banking, manufacturing, telecommunications, and agriculture. These tycoons have not only shaped Uganda’s financial landscape but also created thousands of jobs and contributed to economic stability.
This article provides an in-depth analysis of the top 10 richest people in Uganda in 2025, their net worth, and the industries that have fueled their success.
1. Sudhir Ruparelia – $1.5 Billion
Industry: Banking, Real Estate, Education, Hospitality
Sudhir Ruparelia, the founder and chairman of the Ruparelia Group, remains Uganda’s wealthiest man with an estimated net worth of $1.5 billion. His conglomerate spans banking, insurance, education, real estate, hospitality, and floriculture. Some of his notable assets include Speke Resort Munyonyo, Kampala International School Uganda (KISU), and Meera Investments, one of the country’s largest real estate companies. Sudhir’s empire continues to thrive despite challenges, reinforcing his influence on Uganda’s economy.
2. Drake Lubega – $1.3 Billion
Industry: Real Estate, Trading
Drake Lubega is a real estate mogul who owns nearly half of the major commercial buildings in Kampala. His properties, strategically positioned in prime business areas, generate substantial rental income. Besides real estate, Lubega has interests in fuel stations, hotels, and trading, cementing his position among Uganda’s financial elite. His net worth is estimated at $1.3 billion in 2025.
3. Hamis Kiggundu – $1.2 Billion
Industry: Real Estate, Trade, Agriculture
Hamis Kiggundu, popularly known as Ham, is one of Uganda’s youngest billionaires. He is the CEO of Ham Group of Companies, which has interests in real estate, import and export, and agro-business. Ham’s iconic properties include Ham Towers, Ham Shopping Mall, and the state-of-the-art Nakivubo Stadium renovation project. His entrepreneurial journey and ability to expand his wealth at a young age make him an inspiration to many Ugandans.
4. Hajj Omar Ahmed Mandela – $550 Million
Industry: Hospitality, Automotive, Manufacturing
Hajj Omar Ahmed Mandela is the founder and CEO of Mandela Group of Companies, specializing in hospitality, oil, and automobile dealerships. He owns the CJs restaurant chain in Uganda and Kenya and is a key figure in Uganda’s beverage and food processing industry. He also serves as the president of SC Villa, one of Uganda’s most successful football clubs.
5. Charles Mbire – $500 Million
Industry: Telecommunications, Banking, Stock Market
Charles Mbire is a major stakeholder in MTN Uganda, the country’s leading telecommunications provider. He is also involved in investments across banking, energy, and the stock market. His financial influence extends to being the chairman of Uganda Securities Exchange, where he has played a significant role in shaping Uganda’s capital market. His estimated net worth in 2025 is $500 million.
6. Sikander Lalani – $300 Million
Industry: Manufacturing, Steel Industry
Sikander Lalani is the founder and CEO of Roofings Group, Uganda’s largest steel manufacturing company. The group operates three steel-processing factories: Roofings Limited, Roofings Rolling Mills, and Roofings Polypipes, supplying building materials across East and Central Africa. His contribution to Uganda’s industrial sector has significantly boosted the country’s economy.
7. Aaron Mukooza – $200 Million
Industry: Media, Banking
Aaron Mukooza is a media and banking investor whose business interests have largely remained private. However, he is well known for his extensive investments in television, radio, and banking, which have secured his position among Uganda’s wealthiest individuals.
8. Gordon Wavamunno – $100 Million
Industry: Automobile, Real Estate, Transportation
Gordon Wavamunno is the founder and CEO of Spear Motors Uganda, the official distributor of Mercedes-Benz and other luxury vehicles in Uganda. His wealth extends to real estate, media, and farming. His strategic investments have ensured financial sustainability despite the fluctuating economy.
9. Patrick Bitature – $100 Million
Industry: Telecommunications, Energy, Real Estate
Patrick Bitature is the chairman and CEO of Simba Group, a conglomerate involved in hotels, telecom, energy, and real estate. His key assets include Protea Hotels Uganda and Simba Telecom, one of Uganda’s largest mobile phone distribution companies. Bitature’s resilience and diversification have helped him remain among Uganda’s richest individuals.
10. Mukesh Shukla – $100 Million
Industry: Manufacturing, Automobile, Forex Trading
Mukesh Shukla is the CEO of Shumuk Group, a family-owned business specializing in aluminum cookware manufacturing, real estate, forex trading, and automobile services. His success story in manufacturing has made him one of Uganda’s key industrialists, contributing immensely to job creation and economic growth.
Conclusion
Uganda’s wealthiest individuals have built their fortunes through resilience, innovation, and strategic investments across multiple industries. Their contributions go beyond personal success, playing a crucial role in Uganda’s economic development by creating jobs, improving infrastructure, and investing in critical sectors.
While some of these billionaires are seasoned businessmen, younger entrepreneurs like Hamis Kiggundu demonstrate that Uganda’s business landscape is evolving, with new opportunities emerging for those willing to take risks.
These business moguls continue to influence Uganda’s financial future, and as the economy grows, new names may rise to join the ranks of the country’s wealthiest individuals.
Key Takeaways:
- Real estate dominates the investment portfolios of Uganda’s wealthiest.
- Diversification is key—most of the richest individuals have businesses spanning multiple industries.
- Young entrepreneurs are rising, showing that Uganda’s economy is open to new entrants.
- Job creation and economic contribution remain a priority for Uganda’s billionaires.
As Uganda continues to develop, the business sector will remain the backbone of the nation’s prosperity, with these individuals at the forefront of shaping the country’s economic future.
