Forbes has released a list of Ugandan multi-millionaires on their list of 40 Richest Africans. The list identifies them as ultra-wealthy Ugandan tycoons, entrepreneurs and business leaders. According to Forbes, each of them is worth more than $50 million.
Sudhir Ruparelia – businessman and entrepreneur. 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. He moved to the United Kingdom with his parents in 1972, at the age of 16, when Idi Amin expelled all Asians from Uganda. He returned to Uganda in 1985, with US$25,000 to start his Ugandan businesses, which later grew into the Ruparelia Group. His empire includes Crane Bank, Kampala Parents School, and The CHOGM Resort that sits on acres of land in Munyonyo at the shores of Lake Victoria. He is also a member of the exclusive Kwagalana Group – a club for only the wealthiest fellows in Uganda.
Patrick Bitature – businessman, entrepreneur and industrialist. He started his business empire with a single company, Simba Telecom, then a retail chain dealership, in MTN air-time. From there he expanded into broadcasting, with the acquisition of Dembe FM radio station, followed by Simba Electronics. He is the owner of Protea Hotels Uganda. He is the Board Chairman of UMEME. He also has interests in insurance, banking, hotels and resorts. Today, his businesses have subsidiaries in Uganda, Kenya, Tanzania and Nigeria.
Charles Mbire is part owner and member of the Board of Directors of the Afro Alpine Pharma Limited, East Africa Fish Farming Limited, Ecobank Uganda Limited, Eskom Uganda Limited, MTN Uganda Limited and Rift Valley Railways. The Mukiga man who hails from Kabale District, southwestern Uganda is so wealthy that he commissioned two of Uganda’s lead musicians, Juliana and Bobi Wine, to sing a song for his mother which later became a hit on local airwaves. He also paid the International singing duo – Brick and Lace to sing at his daughter’s birthday. He started his career in 1985 as managing director of Pop-In Industries Limited and four years later moved on to become the Uganda resident representative of the Hyundai Corporation. His investments range from telecommunications, finance, energy, real estate, pharmaceuticals, agribusiness and transportation. He is also Chairman of the Uganda Securities Exchange.
Amirali Karmali is the founder of East Africa’s Mukwano Group – an industrial conglomerate that manufactures cooking oils, fats, toilet soaps and cosmetics to industrial plastics and detergents. The group has annual revenues of over $230 million and most of the company’s products are market leaders. Karmali is also one of Uganda’s biggest landlords; he owns 17,000 acres of land in Uganda’s Masindi district.
Amos Nzeyi owns Crown Beverages Limited the sole bottlers and distributers of Pepsi Products, Hot Loaf Bakery and White Horse Inn – a private hotel in Kabale, southwestern Uganda plus 40% of National Bank of Commerce.