Uganda’s Dollar Millionaires Surge: New Wave of 100 Tycoons Join List of High-Net-Worth Individuals According to the Africa Wealth Report, Uganda saw its fastest surge in dollar millionaires in 2022, adding approximately 560 individuals even as the country grappled with the economic fallout of Covid-19. The report shows that the number of dollar millionaires had by June 2025 grown to 1,600.

Uganda’s millionaire class is quietly expanding. The country added 100 new dollar millionaires in the 12 months leading up to June 2025. The addition brings the total number of individuals with over $1 million in investable assets to 1,600, according to the Africa Wealth Report 2025 by Henley & Partners. This marks a steady growth from 1,500 in 2022 and a significant jump from 940 in 2021, when the country saw its sharpest increase in wealth despite grappling with the aftermath of the Covid-19 pandemic. Uganda’s dollar millionaire population grew by 45% in 2022 alone, adding 560 individuals in a…