Business magnate Dr. Sudhir Ruparelia has once again secured his position as Uganda’s richest individual, topping the 2025 Forbes Africa Billionaires List with an estimated net worth of USD 1.6 billion.
The founder and Chairman of the Ruparelia Group, Dr. Ruparelia has built a diversified business empire spanning sectors such as banking, real estate, insurance, education, floriculture, and hospitality.
His sustained success underscores both personal resilience and continued influence on Uganda’s economic landscape.
Despite notable setbacks, including the closure of Crane Bank in 2017, Ruparelia’s ventures have remained remarkably resilient. Landmark properties such as Speke Resort Munyonyo, Pearl of Africa Hotel, Pearl Business Park, Kabira Country Club, Speke Apartments, Tagore Living, and Bukoto Heights have reinforced his dominance in the real estate and hospitality sectors.
The latest Forbes rankings highlight Uganda’s vibrant business environment, showcasing a mix of long-standing tycoons and emerging billionaires who are reshaping the nation’s economic trajectory through innovation, investment, and philanthropy.
Uganda’s Top 10 Wealthiest Individuals – Forbes 2025
- Drake Lubega – Estimated net worth: USD 850 million
Drake Lubega ranks second on the list, deriving much of his wealth from an expansive real estate portfolio in Kampala and other urban centers. He owns numerous commercial buildings, shopping arcades, and apartment complexes. His interests also extend to manufacturing and hospitality. - Mansoor Matovu “Yanga” – USD 785 million
Known as Yanga, Matovu is a prominent real estate investor with holdings in high-value commercial and residential properties. He also owns interests in logistics and transportation, particularly in the trucking and import-export sectors. - John Bosco Muwonge – USD 720 million
Muwonge’s investments are heavily concentrated in Kampala’s central business district. Though he maintains a low public profile, his real estate ventures—comprising shopping malls, arcades, and luxury residences—have made him one of Uganda’s most influential property owners. - Godfrey Kirumira – USD 700 million
Kirumira is a multi-sector entrepreneur with interests in petroleum, real estate, manufacturing, and hospitality. As chairman of the influential Kwagalana Group, he has played a key role in Kampala’s high-value property market. His petroleum company, GM Tumpeco, is a significant contributor to his wealth. - Guster Lule Ntake – USD 697 million
Ntake is a veteran businessman whose wealth spans real estate, modern agriculture, and hospitality. His investments include hotels, resorts, and commercial buildings, placing him among Uganda’s most respected entrepreneurs. - Tom Kitandwe – USD 602.7 million
Kitandwe has built his wealth through diverse ventures in agriculture, telecommunications, and real estate. He is also a major player in Uganda’s agribusiness sector, thanks to large-scale landholdings and investment in advanced farming technologies. - Hamis Kiggundu (“Ham”) – USD 601.9 million
One of Uganda’s youngest billionaires, Kiggundu has made a name through strategic real estate developments including Ham Towers, Ham Shopping Mall, and the redevelopment of Nakivubo Stadium. He is also a published author and an advocate for youth entrepreneurship. - Christine Nabukeera and Charles Mbire – USD 600 million each
Nabukeera is a key investor in real estate and hospitality, particularly in high-end apartments and commercial developments. Mbire, one of Uganda’s most prominent business figures, has interests in telecommunications, finance, energy, and pharmaceuticals. As chairman of MTN Uganda, he has been instrumental in driving the telecom giant’s success in the region. - Amos Nzeyi – USD 250 million
Nzeyi rounds out the top ten as founder of Crown Beverages Limited, the bottler of Pepsi in Uganda. His wealth is drawn from ventures in agriculture, real estate, and hospitality, cementing his reputation as a consistent and reliable business leader.
Beyond Wealth: A Commitment to Social Impact
Beyond their financial achievements, these individuals have played a significant role in national development through job creation, philanthropy, and community initiatives. Dr. Ruparelia, for instance, supports numerous educational and healthcare programs through the Ruparelia Foundation. Similarly, Hamis Kiggundu is widely recognized for championing youth empowerment and entrepreneurship.
As Uganda continues to expand its economic base and attract foreign investment, the contributions of these billionaires remain pivotal. They not only drive private sector growth but also shape the socioeconomic future of the nation.
