Ugandan business magnate Dr. Sudhir Ruparelia has once again taken the top spot on the Forbes Africa 2025 Billionaires List, firmly holding onto his title as Uganda’s richest individual with an estimated net worth of $1.6 billion.
A symbol of entrepreneurial grit and strategic resilience, Sudhir’s continued dominance is powered by his diversified investments through the Ruparelia Group, whose footprint extends across banking, real estate, hospitality, education, insurance, floriculture, and agriculture.
Despite major setbacks in recent years, such as the closure of Crane Bank in 2017, Sudhir has rebounded stronger, with his real estate portfolio alone accounting for a significant chunk of his wealth.
Among his flagship properties are Speke Resort Munyonyo, Kabira Country Club, Speke Apartments, Pearl Business Park, Tagore Living, Bukoto Heights, and Kingdom Kampala, which have become iconic in Uganda’s hospitality and commercial sectors.
His education ventures, including Kampala Parents School, Delhi Public School International, and Victoria University, continue to attract thousands of learners annually.
Speaking to Forbes, Sudhir attributed his longevity at the top to “diversification, discipline, and reinvestment.” He added that “the future of Uganda’s economy lies in structured entrepreneurship that blends service delivery with integrity.”
Uganda’s Wealthiest: 2025 Billionaires List
Forbes’ 2025 list also unveiled a fresh picture of Uganda’s growing billionaire class, showcasing individuals who have made immense contributions to the country’s economy across diverse sectors.
2. Drake Lubega – $850 Million
The second richest Ugandan is Drake Lubega, whose wealth stems largely from his extensive real estate holdings.
His properties dominate Kampala’s central business zones, particularly downtown arcades, malls, and residential apartments.
Lubega has also expanded into manufacturing and the hospitality sector, strengthening his financial position.
3. Mansoor Matovu (Yanga) – $785 Million
Yanga is another heavyweight in Uganda’s real estate sector. His investments span commercial buildings, high-end residences, and warehouses in prime locations.
He is also deeply involved in logistics, transportation, and cross-border trade, especially in East Africa.
4. John Bosco Muwonge – $720 Million
Notoriously media-shy but incredibly wealthy, Muwonge has built a powerful real estate empire concentrated in Kampala’s central business district, including arcades, shopping plazas, and apartments.
His strategy of acquiring land and developing large complexes has been key to his steady rise.
5. Godfrey Kirumira – $700 Million
As the chairman of the Kwagalana Group, Kirumira is well known for his ventures in petroleum (through GM Tumpeco), real estate, manufacturing, and hospitality.
His investments span several Ugandan cities and have made him a household name in both business and philanthropic circles.
6. Guster Lule Ntake – $697 Million
Ntake has long been a prominent figure in Uganda’s business community, with holdings in real estate, hotels, and modern agriculture. He has also invested heavily in agro-processing and tourism, carving out a niche for himself in sustainable enterprise.
7. Tom Kitandwe – $602.7 Million
A quiet but strategic investor, Kitandwe’s wealth is spread across telecommunications, agriculture, and land development. He is a major player in agribusiness and has developed large-scale modern farms that supply both local and export markets.
8. Hamis Kiggundu (Ham) – $601.9 Million
One of the youngest billionaires on the list, Hamis Kiggundu, popularly known as Ham, has built a formidable empire rooted in real estate. His key developments include Ham Towers, Ham Shopping Mall, and the redevelopment of Nakivubo Stadium.
Beyond business, he is an author and a vocal advocate for youth entrepreneurship and innovation.
9. Christine Nabukeera & Charles Mbire – $600 Million Each
- Christine Nabukeera has made a mark through strategic investments in luxury apartments and commercial real estate, particularly in Kampala and Wakiso.
- Charles Mbire, a renowned businessman and boardroom leader, holds major stakes in telecommunications (MTN Uganda), energy, finance, and pharmaceuticals. As chairman of MTN Uganda, Mbire has overseen one of the most profitable telecom operations in East Africa.
10. Amos Nzeyi – $250 Million
Nzeyi rounds off the top ten with his longstanding success in beverage bottling (Crown Beverages Ltd.—Pepsi Uganda), as well as investments in hospitality, agriculture, and real estate.
His consistency and adaptability have earned him respect across multiple generations of Ugandan entrepreneurs.
Economic and Social Impact
These billionaires are not only symbols of financial success but also engines of employment, innovation, and social development. From building schools and hospitals to supporting local manufacturing and export businesses, their influence cuts across all layers of Ugandan society.
- Sudhir Ruparelia, through the Ruparelia Foundation, funds several charitable initiatives in education and health.
- Hamis Kiggundu runs youth mentorship programmes focused on entrepreneurship and self-reliance.
- Charles Mbire has been instrumental in steering tech advancement through his leadership roles in ICT.
Looking Ahead
Uganda’s billionaire class is growing in diversity, with younger entrepreneurs and women joining the ranks.
As the economy evolves, especially with regional integration and digital transformation, Uganda’s wealth landscape is expected to shift towards tech, green energy, infrastructure, and innovation-driven enterprises.
However, the 2025 list confirms one unshaken reality: Sudhir Ruparelia remains king of Uganda’s business mountain, with no signs of slowing down.
