A few Ugandans have built multi-million and billion dollar empires in industries as diverse as agriculture, food, construction, energy and distribution and earned multi-million dollar fortunes to boot.
Their names don’t ring with the African public, and you’ve probably never heard about them before, but they are very successful — and very wealthy.
Meet 7 Ugandan businessmen, who founded businesses with annual revenues of $50 million or more as listed by Forbes.
Abid Alam
Source: Steel
Ugandan tycoon Abid Alam is the CEO and controlling shareholder of the Alam Group, one of 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, a $120 million (revenues) group that owns one of the largest steel rolling mills in Uganda, a sugar milling company, and a shoe-manufacturing outfit among other assets.
Emmanuel Katongole
Source: Pharmaceuticals
Katongole is a co-founder of Cipla Quality Chemical Industries, a large Ugandan pharmaceutical company. In 1997 Katongole founded Quality Chemicals to import generic human and veterinary medication. In 2015, Cipla, 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
Source: Oil distribution
Kagimu, an Ugandan of Somali origin, owns Uganda’s leading petroleum distributor, Habib Oil. His holding company, Habib Investments, has extensive assets in Real Estate Development, Telecommunication, Security and Agriculture.
Mohammed Hamid
Source: Food
Am Eshima Milton Founder and CEO Umbrella Group, born uganda
Thank you for good information, I would like to monthly to receive business focus news.
one day my name z going to be here.