Ugandan entrepreneur Hamis Kiggundu has been named the country’s richest person in 2026, with an estimated net worth of $1.3 billion, according to the latest Bossip Africa Billionaires Ranking.
Kiggundu, the founder and chairman of the Ham Group of Companies, rose to the top of Uganda’s wealth rankings following sustained expansion across his diversified business interests spanning real estate, manufacturing, agro-processing, logistics, and hospitality.
The listing marks the first time Kiggundu has topped Uganda’s wealth chart, reflecting both the scale of his privately held assets and the steady growth of his operating businesses over recent years.
Business Expansion Fuels Wealth Growth
According to the ranking, Kiggundu’s fortune is largely anchored in direct ownership and control of operating enterprises rather than passive financial investments. His group develops and manages commercial and residential real estate, industrial facilities, logistics operations, and hospitality ventures across Uganda and parts of East Africa.
Bossip Africa notes that his wealth has grown consistently over the past six years, driven by new construction projects, completion of industrial plants, and reinvestment of profits into long-term physical assets.
“His wealth is largely tied to tangible assets and operating enterprises,” said an analyst familiar with the ranking’s methodology. “That kind of model tends to grow more gradually but with greater stability over time.”
Shifting Uganda’s Wealth Profile
Kiggundu’s ascent signals a shift in Uganda’s wealth landscape, which has traditionally been dominated by individuals with strong interests in banking, finance, and investment portfolios.
The Bossip Africa ranking assesses not only the size of fortunes but also the structure and source of wealth. Kiggundu’s holdings were classified as primarily productive and operational, a factor that placed him ahead of peers whose wealth is more concentrated in financial or investment assets.
Net Worth at $1.3 Billion
Bossip Africa estimates Kiggundu’s net worth at $1.3 billion in 2026, up from approximately $350 million in 2020, representing compounded growth across multiple sectors.
The publication cautions that net worth figures for privately held companies are estimates, derived from asset valuations, industry benchmarks, and publicly available information, as the businesses involved are not listed on public exchanges.
Broader Economic Impact
Beyond personal wealth, Kiggundu’s businesses employ thousands of people directly and indirectly, supporting wide-ranging supply chains in construction, manufacturing, logistics, and services.
Economists say this gives his enterprises significance beyond individual wealth accumulation, contributing to employment creation and industrial development.
About the Ranking
The Bossip Africa Billionaires Ranking evaluates individuals based on estimated net worth, asset ownership, business control, and economic footprint. Its methodology emphasises long-term asset value and operational control, particularly within privately held enterprises.
The 2026 edition covers leading business figures across several African countries, with Uganda’s list topped by Kiggundu for the first time.
