By Spy Uganda
Uganda’s business landscape is booming, and the latest Forbes Africa Billionaires List 2025 is proof of this upward trajectory. The new rankings reveal a powerful lineup of Ugandan tycoons whose wealth spans across diverse sectors including real estate, telecommunications, manufacturing, hospitality, agriculture, and energy.
These billionaires are not only redefining the country’s economic narrative but are also playing an essential role in social transformation—through philanthropy, job creation, and community development.
Top 10 Wealthiest Ugandans in 2025
1. Sudhir Ruparelia – $1.6 Billion
Leading the list is the seasoned business magnate Sudhir Ruparelia, Chairman of the Ruparelia Group. With a net worth of $1.6 billion, Sudhir’s diversified empire includes real estate, banking, education, insurance, hospitality, and floriculture. Despite past hurdles—most notably the 2017 closure of Crane Bank—Ruparelia has remained a resilient force in Uganda’s economy. His landmark properties like Speke Resort Munyonyo, Pearl Business Park, Kabira Country Club, Speke Apartments, and not forgetting dozens of his hotels and other businesses, solidify his status as Uganda’s wealthiest individual.
2. Drake Lubega – $850 Million
Renowned for his expansive real estate empire, Drake Lubega comes in second with an estimated net worth of $850 million. His assets include commercial buildings, shopping arcades, and rental apartments across Kampala. He has also ventured into hospitality and manufacturing, positioning himself as a multi-sector investor.
3. Mansoor Matovu (Yanga) – $785 Million
Matovu Yanga secures third place with a real estate portfolio valued at $785 million. His holdings include commercial and residential properties in Kampala’s prime areas. Additionally, he has made strategic moves into logistics and international trade, generating substantial revenue through trucking and import-export businesses.
4. John Bosco Muwonge – $720 Million
With a low-key public presence but a high-profile real estate portfolio, John Bosco Muwonge ranks fourth with $720 million. His investments dominate Kampala’s central business district and include luxury malls and residential developments.
5. Godfrey Kirumira – $700 Million
Fifth on the list is Godfrey Kirumira, Chairman of the influential Kwagalana Group. His estimated net worth of $700 million is rooted in petroleum, real estate, manufacturing, and hospitality. His GM Tumpeco enterprise in the petroleum sector has been a significant source of his wealth.
6. Guster Lule Ntake – $697 Million
Ntake brings a diverse portfolio to the list, with $697 million in wealth spread across real estate, hospitality, and modern agriculture. Known for his business acumen and consistency, Ntake is a respected figure in Uganda’s entrepreneurial circles.
7. Tom Kitandwe – $602.7 Million
Tom Kitandwe holds the seventh spot with a fortune of $602.7 million. His investments in real estate, agriculture, and telecommunications—particularly in agribusiness and rural land development—underscore his role in driving innovation in these key sectors.
8. Hamis Kiggundu – $601.9 Million
Popularly known as “Ham”, Hamis Kiggundu ranks eighth with a net worth of $601.9 million. As one of Uganda’s youngest billionaires, he is celebrated for iconic developments like Ham Towers, Ham Shopping Mall, and the redevelopment of Nakivubo Stadium. Beyond business, Kiggundu is a published author and youth advocate focused on entrepreneurship.
9. Christine Nabukeera & Charles Mbire – $600 Million (Each)
Tied in ninth place are Christine Nabukeera and Charles Mbire. Nabukeera is a notable investor in real estate and luxury hospitality, while Mbire, a household name in Uganda’s business landscape, holds significant stakes in telecommunications (as Chairman of MTN Uganda), finance, pharmaceuticals, and energy.
10. Amos Nzeyi – $250 Million
Rounding out the top ten is Amos Nzeyi, founder of Crown Beverages Limited, the Pepsi franchise in Uganda. With a net worth of $250 million, Nzeyi has built a legacy in the beverage industry, agriculture, and real estate, earning a reputation for business integrity and long-term success.
Impact Beyond Wealth
These billionaires are not only accumulating wealth—they’re also shaping Uganda’s socio-economic fabric. Their businesses have created thousands of jobs, stimulated investment, and supported communities through philanthropic initiatives.
Sudhir Ruparelia, for example, continues to support education through the Ruparelia Foundation, while Hamis Kiggundu champions youth empowerment and capacity building through motivational speaking and mentorship.
As Uganda expands its economic reach and attracts more international investment, the impact of these business leaders cannot be overstated. They are at the forefront of driving innovation, resilience, and inclusive growth, laying a strong foundation for the nation’s future.
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