Uganda’s Top 7 Multi-Millionaires

By Kwizera Deo

Often times, it is challenging for several people to make money and uphold their businesses. Just as the years before, Forbes conducted a survey and its target was mainly towards 7 Ugandan  business men who are said to have founded businesses with an annual revenue of about $  50 million. There is literally no saying that says all men  should be equal. At a point where a big number of Ugandans are crawlling in the wells of poverty, some distinguished individuals have proven to Forbes that they got the money and that can not be changed. Here in, are Ugandan’s 7 multi-millionares as ranked by Forbes.

Mohammed Hamid

He is one of Uganda’s leading entrepreneurs and  is the Chairman and founder of Aya Group; a $300 million (annual revenues) Ugandan conglomerate with interests in milling, food manufacturing, commodity trading, transportation and hospitality. Aya Group recently launched Pearl Of Africa, a landmark hotel in Kampala which cost more than $200 million to build.

Abid Alam

Ugandan tycoon Abid Alam is the CEO and controlling shareholder of the Alam Group which is among the Uganda’s largest conglomerates. In 1965, Alam’s father Manzur Alam started a small business in Kampala manufacturing windows, metal doors, Louvers, and steel pipes. Over the last five decades, that operation has snowballed into the Alam Group and atleast fetches a $120 million (revenues). This  group that owns one of the largest steel rolling mills in Uganda has also a sugar milling company and a shoe-manufacturing outfit among other assets.

Emmanuel Katongole

Emmanuel Katongole

Katongole is a co-founder of Cipla Quality Chemical Industries which is a large Ugandan pharmaceutical company. In 1997 Katongole founded Quality Chemicals to import generic human and veterinary medication. In 2015, Cipla ;which is a leading global Pharmaceutical company acquired a 51% stake in the company for $30 million valuing the business at about $60 million. The company was renamed Cipla Quality Chemical Industries. Katongole serves as Chairman of the company.

Habib Kagimu

He is a Ugandan investor  of Somali origin who happens to be the  Uganda’s leading petroleum distributor called  Habib Oil. He is holding a company called Habib Investments and  has extensive assets in Real Estate Developments, Telecommunication, Security and Agriculture.

Sikander Lalani

Lalani is the founder of Roofings Group, the largest manufacturer of steel construction materials in Uganda with installed production capacity of 72,000 metric tonnes annually. The company has revenues of more than $80 million annually and employs more than 3,000 people.

Mukesh Shukla

He is a Indian-Ugandan tycoon. Mukesh Shukla started off in business in 1984 trading soft commodities from a retail/wholesale outlet in Kampala. With his profits, Shukla started manufacturing Aluminum Utensils and opened a Forex bureau. Today, the Shumuk Group which he runs is one of the  East Africa’s biggest industrial conglomerates with tentacles in steel production, dairy production and hotels. The company has annual revenues of more than $80 million.

Karim Hirji

He is the Uganda’s foremost hotelier who got his start in business as far back in  the late 80s when he began trading in textiles and alcoholic beverages in Kampala’s Central Business District. Today he owns the Imperial Group of Hotels which owns a portfolio of some of Uganda’s most popular four-star hotels including the landmark Imperial Resort Beach Hotel. The 67-year-old former champion rally driver also owns automobile dealerships across Uganda.

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