Kampala, Uganda: Uganda’s business landscape continues to thrive with several tycoons making their mark on Forbes Africa’s Billionaires List for the year 2025. The latest rankings released by Forbes reveal that Uganda is home to a diverse group of wealthy individuals whose fortunes span industries such as real estate, telecommunications, manufacturing, and hospitality.
Their contributions are not only reshaping the country’s economic future but also uplifting communities through philanthropy and social investment.
The new Forbes’ 2025 Billionaires List highlights the country’s top 10 richest people, whose wealth remains formidable despite the global economic fluctuations. From real estate moguls to industrialists, these individuals have demonstrated remarkable resilience, innovation, and strategic growth in their various ventures.
At the top of the list is Sudhir Ruparelia, a veteran businessman whose empire remains unparalleled in Uganda.
Who Are Uganda’s Wealthiest?
1. Sudhir Ruparelia $1.6 billion
Topping the list is Sudhir Ruparelia, the patriarch of the Ruparelia Group, with a net worth of $1.6 billion. His empire spans sectors such as banking, real estate, insurance, education, floriculture, and hospitality.
Despite facing setbacks like the closure of Crane Bank in 2017, Ruparelia’s ventures have remained resilient, with iconic properties such as Speke Resort Munyonyo, Pearl Tower, Pearl Kampala Business Park, Kabira Country Club, Speke Apartments, Tagore Living, Bukoto Heights, just to mention, which cements his position as Uganda’s wealthiest individual.
2. Drake Lubega
Following him is Drake Lubega, whose estimated wealth of $850 million is largely derived from his real estate portfolio across Kampala and other urban centers. Known for owning several commercial buildings, shopping arcades, and rental apartments in the bustling downtown areas of Kampala, Lubega has capitalized on prime locations to build his fortune. He has also ventured into hospitality and manufacturing, diversifying his sources of wealth.
3. Matovu Yanga
The third spot according to Forbes List of 2025, belongs to Mansoor Matovu Yanga, a real estate tycoon worth $785 million. Yanga’s portfolio includes high-value commercial buildings and residential properties within Kampala’s prime areas.
Additionally, Yanga has invested heavily in the logistics and transportation industry, maintaining a steady revenue stream from trucking and import-export operations.
4. John Bosco Muwonge
Real estate dominance continues with John Bosco Muwonge, whose net worth is estimated at $720 million. His investments are concentrated in the central business district of Kampala, where he owns multiple shopping malls, arcades, and luxury apartments.
Despite maintaining a low profile, Muwonge’s strategic acquisitions and developments have made him a formidable figure in Uganda’s property market.
5. Godfrey Kirumira
At number five is Godfrey Kirumira, valued at $700 million. Known for his involvement in petroleum, real estate, manufacturing, and hospitality, Kirumira chairs the Kwagalana Group, an association of Kampala’s wealthiest businessmen. His petroleum ventures under the GM Tumpeco banner have been particularly lucrative, bolstering his wealth considerably.
6. Guster Lule Ntake.
Ntake, with an estimated net worth of $697 million, is a seasoned entrepreneur whose wealth spans real estate, hospitality, and modern agriculture. His diversified portfolio includes high-end hotels, resorts, and commercial properties, making him one of Uganda’s most respected business figures.
7. Tom Kitandwe, whose wealth of $602.7 million is derived from various sectors including real estate, agriculture, and telecommunications. His vast landholdings and investments in modern farming techniques have established him as a key player in Uganda’s agribusiness sector.
8. Hamis Kiggundu, alias “Ham” as he is popularly known, follows closely in eighth with a fine fortune of $601.9 million. As one of the youngest billionaires on the list, Hamis Kiggundu has made a name for himself through real estate investments such as Ham Towers, Ham Shopping Mall, and the redevelopment of Nakivubo Stadium.
Additionally, Kiggundu is a published author and motivational speaker, actively promoting youth empowerment and entrepreneurship.
9. The ninth spot is shared by Christine Nabukeera and Charles Mbire, both with estimated net worths of $600 million each. Nabukeera is recognized for her investments in real estate and hospitality, particularly luxury apartments and high-value commercial properties. Meanwhile, Charles Mbire, one of Uganda’s most influential business figures, has diversified interests in telecommunications, finance, energy, and pharmaceuticals. As chairman of MTN Uganda, Mbire has been instrumental in driving the telecom giant’s growth within the region.
10. Rounding off the top 10 is Amos Nzeyi, with a net worth of $250 million. As the foeunder of Crown Beverages Limited, the franchise bottler of Pepsi in Uganda, Nzeyi’s entrepreneurial journey has spanned agriculture, hospitality, and real estate. His consistency in business has earned him a reputation as one of the country’s most reliable and successful entrepreneurs.
Economic Impact and Philanthropy
Beyond their staggering wealth, these business moguls continue to contribute significantly to Uganda’s economic development. From creating thousands of jobs to engaging in philanthropic efforts that improve education, health, and social welfare, their influence extends far beyond the business world.
For instance, Sudhir Ruparelia has funded various educational institutions through the Ruparelia Foundation, while Hamis Kiggundu actively supports youth empowerment initiatives.
Moreover, as Uganda continues to attract foreign investment and expand its economic base, the contributions of these billionaires remain crucial. They are not only shaping the present but also laying the groundwork for the country’s economic future.
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