The past five years have not gone particularly well for Uganda’s billionaire class. Once the undisputed symbols of local enterprise and ambition, several of the country’s most prominent businessmen have found themselves entangled in complex financial and legal battles — most of them involving commercial banks and cross-border lenders. Among them, Hamis Kiggundu, the property and retail magnate behind Ham Enterprises, waged one of Uganda’s most closely watched banking disputes. His companies owed USD 4,014,444 to Diamond Trust Bank Uganda and USD 6,974,600 to Diamond Trust Bank Kenya — a combined USD 10.99 million (approximately UGX 40 billion) in credit…
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When billionaire businessman James Garuga Musinguzi died on 6th August 2025 at Nakasero Hospital in Kampala, Uganda lost one of its most influential entrepreneurs. From humble beginnings in Kigezi, Garuga had built an empire that stretched from tea estates and luxury hotels to radio stations and vast tracts of prime real estate. Yet within weeks of his passing, his family was embroiled in a bitter legal battle. Court filings not only revealed the extraordinary wealth he left behind but also laid bare the simmering rivalries among his heirs. This dispute now threatens to overshadow his legacy and could reshape the…
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Dr Sudhir Ruparelia, the billionaire businessman and founder of the Ruparelia Group, and his daughter, Sheena Ruparelia, were honoured today at the 39th National Resistance Movement (NRM/A) Victory Day Anniversary, held at the National Teacher’s College in Mubende District, Uganda. The event, themed “39 Years of NRM/A: Salutation to Those Who Re-sanctified Our Homeland,” celebrated the Ruparelias’ outstanding contributions to Uganda’s socio-economic transformation, infrastructural development, and international recognition as a destination for global events. Dr. Sudhir was awarded the Distinguished Order of the Crested Crane (Grand Officer). H.E., the President of the Republic of Uganda, bestows this award on people…
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Age: 60 years Source of Wealth: Entertainment and gaming, telecommunications, logistics and transport, finance and technology. Estimated Wealth: USD50 million (UGX180 bn) Bob Kabonero, born in January 1965 in Ntungamo District, Uganda, stands as a towering figure in Uganda’s entrepreneurial landscape. With a career spanning over 30 years, he has played a pivotal role in shaping the country’s entertainment, telecommunications, and oil industries. As he celebrates his 60th birthday this month, Kabonero’s legacy is a testament to the transformative power of visionary leadership and strategic investment. Born into a prominent family, Kabonero is the youngest of three siblings. His family…
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Sheena Ruparelia has established herself as a prominent force in Uganda’s business and socio-economic landscape, building on the foundation laid by her father, Dr. Sudhir Ruparelia. As a Director at the Ruparelia Group—one of Uganda’s largest and most diversified conglomerates—Sheena has embraced her father’s legacy of entrepreneurship, innovation, and community impact while carving her unique path in the business world. Educated at London’s City University with a degree in Economics and Accountancy, Sheena began her journey with the Ruparelia Group humbly, working as a cashier at the now-defunct Crane Bank. Her rise through the ranks was fueled by exceptional talent…
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Dr. Sudhir Ruparelia, the billionaire businessman and founder of the Ruparelia Group, and his daughter, Sheena Ruparelia, will be among the distinguished honorees at the 39th Victory Day Anniversary of the National Resistance Movement (NRM/A) on January 26, 2025. This prestigious event, held at the National Teacher’s College in Mubende District, will celebrate their monumental contributions to Uganda’s socio-economic growth. Recognising Impact and Legacy Under the theme, “39 Years of NRM/A: Salutation to Those Who Re-sanctified Our Homeland,” the Ruparelias will receive medals highlighting their significant role in the country’s economic and infrastructural development. Among their many achievements, the Ruparelias…
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Simpson Birungi founded Movit Products Ltd in 1997, starting with a makeshift workshop in Namasuba, Wakiso District. Since then, the company has grown into a multi-billion enterprise, becoming one of Uganda’s largest taxpayers with over 10,000 direct and indirect employees. Movit is now one of Uganda’s most recognizable brands, constantly innovating and delivering excellence in the hair, skin, and baby care categories. The company’s products are sold in close to 10 African countries, and it has a production plant in Zambia as well. Over the past three decades, Birungi has established himself as a successful entrepreneur. Movit’s journey is a…
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Succession planning is a crucial aspect of family businesses, yet many founders struggle to prepare their heirs for the responsibility of taking over the reins. In Uganda, the statistics are stark: 90% of family-owned businesses fail to survive the transition to the next generation, and even fewer make it to the third generation. However, the Kirumira family is bucking this trend. In a rare glimpse into the dynamics of a successful family business, Gideon Kirumira, son of tycoon Geofrey Kirumira, shares his experiences and insights on the importance of hard work, mentorship, and values in ensuring the continuation of generational…
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Name: Amos Nzeyi Source of Wealth: Carbonated Soft Drinks and Water, Hospitality & Tourism, Confectionaries & Real Estate Age: 75 years Estimated Worth: US$ 57 million (UGX200 billion) Amos is a Ugandan businessman, entrepreneur, and industrialist who started business at quite an early age. He has been in business for more than 50 years. Amos was born in 1947 in Kabale in what was then known as the Kigezi region. His father used to work at the White Horse Inn, the oldest and still one of the best hotels in Kabale, which the businessman has since acquired. He started selling…
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