Kampala, (UG):- Ugandan Billionaire Dr Sudhir Ruparelia, the founder and chairman of Ruparelia Group is again on top of the list of wealthiest moguls in Uganda, according to the latest rankings of 2024 richest entrepreneurs from the East African country.
The ranked top 10 business magnates whose fortunes are as grand as the Rwenzori Mountains share a wholesome of Uganda’s capital Kampala, but what propels them to the zenith of prosperity in 2024? Let’s read on
The wealth ranking in this article is derived from assessing the value of assets, including cash, private and public holdings, deducting any liabilities. The list prioritizes individuals over extended family wealth, incorporating assets owned by the wealth originator’s immediate family if they are integral to the wealth’s establishment.
These moguls own a wide array of huge enterprises which employ a vast number of Ugandans, hence helping the country to defuse unemployment pressure, and perpetuating beauty to the lives of many Ugandans by offering them jobs, hence earning means of livelihood. Some of these employees have used part of their salaries to start their ventures, widening the country’s industrial base.
Important still, huge ventures owned by these high-end entrepreneurs pay significant amounts of taxes to the government, hence widening the state’s source of revenue.
| Rank | Name | Total net worth | Age | Region | Source of Wealth | Industry |
|---|---|---|---|---|---|---|
| 1 | Sudhir Ruparelia | $1.35B | 68 | Uganda | Ruparelia Group | Diversified |
| 2 | Mayur Madhvani | $1.2B | 64 | Kampala | Madhvani Group | Real Estate, Manufacturing |
| 3 | Alykhan Karmali | $1.15B | 56 | Kampala | Mukwano | Real Estate, Manufacturing |
| 4 | John Bosco Muwonge | $1.13B | 63 | Kampala | Shamba | Real Estate, Manufacturing |
| 5 | Hamis Kiggundu | $1.02B | 40 | Global | Ham Group | Diversified |
| 6 | Karim Hirji | $925M | 73 | Kampala | Imperial Group, Dembe | Diversified |
| 7 | Charles Mbire | $845M | 65 | Kampala | Invesco, MTN | Diversified |
| 8 | Imperial, Dembe | $670M | 63 | Uganda | Simba Group | Diversified |
| 9 | Omar Ahmed Mandela | $550M | 64 | Kampala | Mandela Group | Diversified |
| 10 | Sikander Lalani | $405M | 79 | EastAfrica | Roofings Group | Roofing sheets, Building Materials |
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