From Empire to Heirs: Inside the Wavamunno Business Succession and the Quiet Transition of Power In recent years, a quiet but notable power shift has been underway inside the Spear Group business empire. Leadership is now gradually transitioning from Gordon Wavamunno to his two sons, Gilbert and Elvis Wavamunno, under the watchful eyes of their parents.

For decades, the name Gordon Babala Kasibante Wavamunno has been synonymous with entrepreneurship in Uganda.

He is a self-made mogul whose business empire spans transport, real estate, publishing, media, manufacturing, and insurance.

Wavamunno built one of the country’s most recognizable indigenous conglomerates: the Spear Group.

From his humble beginnings in rural Mbarara, where he started off supplying produce to schools, operating a dry-cleaning service, and running a small taxi operation, Wavamunno rose to become Uganda’s exclusive distributor for Mercedes-Benz and several other global auto brands.

Over time, he expanded his footprint into insurance (as founding chair of United Assurance, now UAP), bottled water (Wavah Water), education (Wavah School), printing and publishing (Wavah Books), number plate manufacturing (GM Tumpeco), and radio and television (Wavah FM and formerly WBS TV).

In recognition of his contributions to philanthropy and enterprise, Wavamunno was knighted, sir, earning him a place among global honorees.

In his lifetime, he has incorporated 43 companies, of which 10 still stand, a testament to both his industriousness and the harsh realities of business.

Many of these ventures, even those that did not survive, played foundational roles in shaping Uganda’s post-independence private sector.

The shift

But even empires evolve. And in recent years, a quiet but notable shift has been underway inside the Spear Group.

Following a prolonged illness in 2023, which saw the elderly Wavamunno medically evacuated to Germany, the family business entered a succession phase.

Leadership is now gradually transitioning to his two sons, Gilbert and Elvis Wavamunno, under the watchful eyes of their parents.

The illness and the turning point

News of Wavamunno’s critical ill-health broke in March 2023, prompting widespread speculation and even false death reports.

Family members and close allies, including former MP Mike Mukula, quickly moved to confirm he was alive and receiving high-quality care abroad.

Though he recovered, sources close to the family suggest the experience prompted a deliberate re-evaluation of business continuity.

One close associate described the moment as a “spiritual and strategic turning point.”

“There’s something sobering about confronting your mortality after building something for more than 50 years. That was when the family began to organize the transition more formally,” he says.

“The old man no longer signs cheques,” a source revealed in a confidential interview.

“He and Morine [his wife] now sit on a family board that oversees operations. The day-to-day reins have been passed on.”

A New Era: Gilbert and Elvis take charge

Under the evolving structure, Gilbert Wavamunno, long seen as the natural successor to Spear Motors, now formally runs the automotive giant.

His journey into the heart of Uganda’s automobile empire is a compelling story of legacy, ambition, and calculated reinvention.

Through a collection of media interviews done over the past years with news outlets such as the Independent and Urithi Magazine Men, we sketch the personality of Gilbert, a man who was not merely handed the reins of Spear Motors; he earned them.

Gilbert has been rising steadily through the ranks over more than two decades, sharpening his instincts in sales, strategy, and customer trust.

Education and entrepreneurship aren’t just interests for Gilbert; they are the twin pillars that have shaped his identity and guided his journey.

His time at university in the US was foundational.

It wasn’t just the academics that shaped him, but it was an environment where students were encouraged to explore widely across disciplines.

Unlike the typical model of choosing one path, the institution fostered a learning culture that produced not just specialists but adaptable, multi-skilled individuals.

It was here that he was introduced to a unique initiative called 1 Dollar Teachers, where retired millionaires shared unfiltered lessons from the front lines of business.

These sessions gave Gilbert a rare window into real-world entrepreneurship. Raw, practical, and deeply inspiring.

This exposure, coupled with a series of internships across the US and Europe, laid the groundwork for his career.

But the turning point came when he returned to Uganda and took up a position at Spear Motors.

While many would assume that his entry into the company was a birthright, Gilbert’s story defies such assumptions.

He was offered an opportunity, but it came with conditions.

He began by getting his hands dirty and learning the nuts and bolts of the business from the ground up.

Climbing through the ranks was not ceremonial but was deliberate. For Gilbert, working in a family business came with responsibilities, not privileges.

Today, as Managing Director of Spear Motors, a position he has held since December 2019, Gilbert commands one of Uganda’s most recognizable automotive brands.

He runs it with a cool confidence and a razor-sharp sense of where the market is headed.

But behind the polished boardroom demeanor is a man driven by more than profit; he is guided by a deep-seated commitment to preserving a family legacy while fearlessly steering it into the future.

His management philosophy departs from the old-school grind of long hours and rigid control.

Instead, Gilbert champions smart leadership: a model built on clear delegation, continuous performance tracking, and strategic alignment.

Under his leadership, the company has not only retained its prestigious alignment with iconic global brands like Mercedes-Benz and Fiat but has expanded into new terrain, introducing Mitsubishi commercial vehicles, Fiat pickups, and Fuso trucks to a hungry market.

And the gamble is paying off

But Gilbert’s ambition isn’t confined to the family business.

Disturbed by the fragmented and loosely regulated nature of Uganda’s vehicle industry, he’s part of the Uganda Motor Industry Association, a unifying body for vehicle dealers.

His goal? To bring order to chaos, ensuring customers can identify official dealers and understand the crucial difference between a true zero-mileage car and a risky used import.

It’s a battle he wages on multiple fronts. Uganda’s streets have become flooded with aging, cheap, imported used vehicles—many with hidden mechanical flaws and poor environmental performance.

“He’s always been passionate about cars, even when the old man was still active,” the source said.

“Gilbert has always been behind that. It’s his passion.”

His deep institutional knowledge of the dealership business has kept the Mercedes-Benz franchise steady amid broader sector shifts.

His conservative approach and attention to operational detail have provided continuity and stability during the leadership transition.

Elvis Wavamunno: The street-smart entrepreneur

Elvis, meanwhile, has stepped into a broader role as Executive Director of the entire Spear Group.

A street-smart entrepreneur with roots in events and experiential marketing, Elvis now oversees all non-automotive ventures, including the Nakwero farm, Wavah Water, GM Tumpeco, Wavah School, Wavah Equator, and real estate assets across the country.

Elvis didn’t merely step into the corridors of family privilege. He emerged from them with a vision that looked far beyond inheritance.

With a background in sound engineering, he had every reason to take a different path, and he did; into the dynamic world of entertainment.

Where others may have seen leisure, Elvis saw opportunity.

Through his investments under the Silk brand, he helped shape what would become one of Uganda’s most recognizable names in nightlife and entertainment.

The pulse of music, the rhythm of dance, and the business of good times gave him his first canvas in entrepreneurship, and he painted it vividly.

But Elvis was never content with a single success. His journey reveals a man constantly in motion; curious, connected, and committed to expanding the scope of the Wavamunno legacy.

Today, Elvis plays a crucial role in steering the family’s legacy forward, not as a placeholder, but as a driver.

He is deeply immersed in the operations and strategic direction of the family business portfolio, often engaging publicly with its various brands.

One of his most vocal commitments has been to Wavah Water, a brand he proudly champions as a symbol of quality, resilience, and innovation.

High-net-worth clients like Uganda Airlines have become part of that story, trusting the brand’s sparkling water for its purity and quality.

Elvis often speaks of expanding distribution, championing sustainability, and elevating customer service to ensure that Wavah Water remains a brand rooted in excellence and accessible across Uganda.

His business compass isn’t confined to Uganda’s borders. A recent post on X (formerly Twitter) showed him meeting with Judyth Nsababera, Uganda’s Consul General to Guangzhou, China.

The image spoke volumes, showing Elvis not just as a local player but also as a global scout, opening dialogues to unlock trade potential and partnerships.

His influence is also felt in Uganda’s corporate governance sphere.

As a board member of Uganda Manufacturers Association, Elvis brings both the weight of experience and the agility of youthful vision.

On the board, he equally shares a seat with other members of influential family businesses such as Aga Sekalala Junior of Ugachick Poultry, Joseline Kateeba of Crest Foam Mattresses, Ali Alam of the Alam Group, and Sikander Lalani of Roofings, among others.

From there, he also taps into the nuances of manufacturing, supply chains, and market dynamics.

He also brings an awareness of modern consumer behavior and the global shifts that manufacturers must now anticipate.

Yet, Elvis’s reach extends even further into the heart of Uganda’s tourism and heritage sectors.

Through Spear Tours, he has participated in benchmarking trips, including one with a Ugandan delegation to Ecuador.

He has also engaged closely with the Ministry of Tourism on landmark projects, including the proposed modern Equator Monument.

However, one of his most sentimental and ambitious efforts is the promotion of Wavah Museum, Uganda’s first fully-fledged private museum.

Nestled in the serene landscape of Nakwero, Gayaza, the museum is a living archive of 50 years of business and national history.
Among its treasures sits a 1960 Mercedes-Benz 190 D, the car that sparked the idea for Spear Motors, the family’s flagship business.

In silk and steel, it still gleams, a symbol of how far the family has come and how far it still aims to go.

At the Pearl of Africa Tourism Expo, Elvis was a visible and passionate advocate for the museum, promoting it not just as a family project but as a cultural institution for Uganda.

It’s a place where enterprise meets memory, where future generations will understand that wealth is not merely measured in figures but in stories preserved and values passed on.

Elvis’s role on the continental stage is also gaining momentum.

In February 2025, he was a featured presence at the High Networth Individuals Summit, hosted by Senior Counsel Frederick Mpanga at Four Points by Sheraton.

It was a gathering of influence, vision, and leadership; an apt setting for a man who embodies all three.

“Elvis is street smart. He is well-connected and aligned with key decision-makers. His events business has gotten him close to certain key people,” the source added.

The source says he studied abroad before coming back to hustle here.

He has contacts with manufacturers and distributors. Having been in experiential, he knows the marketplace, the big hoteliers. He’s been at it for a long time.”

Not just a name on the bottle

Elvis’s leadership marks a significant philosophical shift in the way the Spear Group operates.

Unlike his father, whose business style was generous and often driven by pride and legacy, Elvis is analytical and commercially grounded.

Take Wavah Water, for example. The bottled water business has been loss-making for over a decade.

“But the old man was proud of it. His name was on the bottle. That was enough for him,” the insider noted.

“Elvis, on the other hand, wants it to be profitable. He told everyone, ‘I want to make money from Wavah Water, so I’m not giving you free money. Align yourselves.”

“He’s not the kind of leader who will open a drawer and hand out UGX 70 million when you say something’s missing. He expects a plan. He expects structure.”

Unlocking dormant value

One of the most pressing challenges facing the new generation is liquidity.

While the Spear Group is asset-rich, with vast tracts of land, office buildings, and residential properties, including some abroad, it is cash-constrained.

The older generation operated on a cash-in-drawer model, responding to needs as they arose.

Elvis, however, is moving toward structured finance, leasing, and debt instruments.

“Part of the land at Spear Motors has been leased to a telecom company for tower installation,” the insider revealed.

“Another parcel at the Industrial Show Grounds has been leased to a beverage distributor. These are just early signs of what’s to come.”

“They are in the process of getting some funding,” the source notes.

“They have a lot of property they can use to secure funding. Wavamunno is asset-rich but cash-poor. The new generation needs to come up with creative ways to unlock value from seemingly idle assets.”

Changing the culture

The transition hasn’t been without its challenges. Wavamunno ran the business like an extended family.

Relatives in various units enjoyed autonomy, and decision-making was often informal. There were few budgets, and even fewer board minutes.

“Elvis has been given full authority. His word is final. But he’s had to bring a lot of the family relatives in the business under control. It’s a whole different game now. He’s introducing a whole new culture,” the source notes.

“He’s come in with a new ‘I want to make money’ mindset. But there are a lot of things that need to be rebuilt. Many of the businesses are performing below potential.”

He’s also brought in external consultants to help redesign HR systems, digitize financial reporting, and standardize procurement practices.

At the heart of these reforms is a commitment to ensure that the business survives and thrives beyond the founder’s personality.

The loss of Joe Kayima

The transition has not only come with structural changes but also emotional ones.

One of the notable figures in Spear Motors, Joe Kayima – an engineer by training and a longstanding member of the Wavamunno enterprise – passed away.

“Joe was passionate about the technical side of things. He was always behind the scenes, ensuring everything mechanical was running smoothly. His death was a big blow, especially for Spear Motors,” a source explains.

Morine: The silent anchor

While Wavamunno has stepped back from operational matters, his wife Morine remains actively involved.

Sources say she provides emotional intelligence and institutional memory that balances her sons’ different temperaments.

“She’s the stabilizer. She makes sure everyone stays grounded. She doesn’t interfere with execution, but she’s the glue that keeps the boardroom from fracturing.”

Together, Gordon Wavamuno and Morine sit on the family board, which meets quarterly and plays a strategic oversight role.

The board reviews budgets, approves major investments, and offers guidance based on its combined experience.

The weight of legacy

As the dust settles on this evolving succession, one thing is clear: the Spear Group is undergoing a transformation not just of leadership but of mindset.

Wavamunno’s legacy as a pioneering industrialist remains intact.

Yet, the future now depends on whether his successors can modernize, streamline, and professionalize the empire he built from scratch.

From village produce markets to Mercedes showrooms, and from dry cleaners in Mbarara to high-rise office blocks in Kampala, Wavamunno’s story is a masterclass in enterprise.

Now, the torch is being passed, not with fanfare, but with strategic deliberation.

For Uganda’s business community, the Wavamunno succession story offers a case study in family business evolution.

It is about resilience, reinvention, and the delicate balance between legacy and modernity.

The question now is not whether his sons can preserve the legacy, but whether they can expand it—and write a new chapter for the next 50 years.