Uganda’s Billionaires that are Under 40

In a country that is yet to achieve a middle income status, you do not expect to find many billionaires (individuals whose worth is over UShs1bn). And when it comes to billionaires under the age of 40, it becomes extremely hard. However, there are a few innovative Ugandan billionaires under the age of 40. After rigorous research and analysis, in no particular sequence, The CEO Magazine brings you some of Uganda’s billionaires under the age of 40.

Hamis Kiggundu

If you have passed by St. Balikuddembe Market popularly known as Owino of recent, you must have observed several development changes around especially Ham Shopping Grounds, a state of the art building. This building worth billions is owned by Hamis Kiggundu, a young billionaire said to be in his late early 30s. Under his Ham Enterprises, Ham as is fondly known also owns two imposing buildings adjacent to Makerere University main gate known as Ham Towers. Ham is so much involved in real estate and a string of auxiliary businesses. In early Janaury2015, he met President Museveni and briefed him about re-development of Nakivubo Stadium, a project he has partially undertaken as a Public Private Partnership with Nakivubo Stadium Board of Trustees. This is another multibillion projects under his name. In a largely reclusive Ugandan business-world, The CEO couldn’t establish his real worth but Ham is certainly one of Uganda’s leading billionaires regardless of age. Ham’s breakthrough is said to have come when he supplied gumboots to UPDF some years back.

Haruna Sentongo

Sentongo is the younger brother of Hamis Kiggundu. In his 20s, Sentongo owns multibillion commercial buildings in Kampala including Haruna Towers Wandegeya and Haruna Towers Ntinda. He is also into real estate.

Dr. Innocent Nahabwe

He is young, innovative, enterprising and someone not afraid to take on risks. A combination of these has made Nahabwe, a veterinary Doctor by profession not only to succeed in business but also become one of the youngest billionaires in Uganda. Also in his early 30s, Dr. Nahabwe, runs a string of businesses including Club Amnesia, one of the leading popular bars in Kampala, Blue Cube, an SMS company and Galaxy FM. He has also lately ventured into online betting businesses. He has also ventured into real estate.
Nahabwe is one of the modern marketers Uganda has. Prior to setting up his own businesses, he was a marketing guru at Red Pepper, a popular brand in the country. It is believed, while at Red Pepper, he got an opportunity to meet many people and thus contacts whom he would later leverage to succeed.
He says he has been successful in things he loves most.
“As an entrepreneur, you put in a lot of time. If you are doing something you don’t love, you cannot achieve a lot because decisions are rushed. I have tried a lot of things and the ones that have survived are those I love,