By Jane Nambi
Forbes Magazine released a list of top five richest Ugandan’s and we bring you the full list and what they own.
Sudhir Ruparelia is one of the richest Ugandans whose source of wealth is Real Estate. Sudhir was born in Uganda and moved to the UK with his parents at 16. This was after President Idi Amin expelled all Asians. While in the U.K, he worked small jobs and returned to Uganda in 1985 with $25,000 in savings which he used to start a commodities trading business and Uganda’s first foreign exchange bureau.
This became Ruparelia Group which is said to be the single largest private property owner in Uganda and it employs over 6,000 people. Ruparelia also owns Crane Bank, the country’s fourth largest commercial bank, Goldstar Insurance, hotels, country clubs, and a chain of foreign exchange bureaus across the country.
Patrick Bitature’s wealth comes from mobile Phones and Hotels. Bitature is the founder and chairman of Simba Telecom, East Africa’s largest mobile phone retailer with over 100 modern retail outlets in Uganda, Tanzania and Kenya Telecom. The company is also the largest mobile phone airtime distributor in the region. He owns Protea Hotels Kampala and chairs the Uganda Investment Authority and Umeme, an energy distribution firm which is gearing up for an IPO on the Uganda Stock Exchange.
Charles Mbire’s wealth comes from Investments. He is one of the largest individual shareholders in mobile phone network giant MTN Uganda’s operations. His Bomi Holding Company owns a 15% stake in the lucrative Rift Valley Railways. He also owns stakes in and sits on the boards of Ecobank Uganda, Eskom Uganda and Invesco Uganda Limited.
Amiral Karmali; source, Manufacturing. Karmali is the founder of East Africa’s Mukwano Group and has annual revenues of over $230 million and most of the company’s products are market leaders. Karmali is also one of Uganda’s biggest landlords; he owns 17,000 acres of land in Uganda’s Masindi district.
Amos Nzeyi; Source: Banking, Beverages, Real Estate. Nzeyi is the chairman and owner of Crown Beverages, Uganda’s sole bottler of PepsiCo products. He also owned a 40% stake in Uganda’s National Bank of Commerce before it was taken over by Ruparelia’s Crane Bank in September.