Meet Hamis Kiggundu: Ugandan Businessman Named Country’s Richest at $1.3 Billion

By HICGI News Agency at 1518 EAT on Thursday 10 September 2026

Ugandan entrepreneur and investor Hamis Kiggundu has been ranked the country’s richest person in 2026, with an estimated net worth of $1.3 billion, according to Bossip Africa’s annual Billionaires Ranking.

Kiggundu, the founder and chairman of the Ham Group of Companies, has built a diversified business empire spanning real estate, manufacturing, agro-processing, logistics, technology and hospitality.

The ranking places Kiggundu at the top of Uganda’s wealth list for the first time, attributing his rise to the expansion of his privately held businesses and the increasing value of his assets.

However, because Kiggundu’s companies are privately owned, his net worth cannot be independently established in the same way as that of individuals whose businesses are publicly listed. Bossip Africa says its estimates are based on asset valuations, industry benchmarks and publicly available information.

From garment trading to a business empire

Born on February 10, 1984, in Kalungu, Masaka, Kiggundu was raised in a family with a business background. His father, Segawa Haruna, was a textile trader, and Kiggundu reportedly helped him in his shop during school holidays.

After the family moved to Kampala, Kiggundu attended Kabojja Secondary School before joining Makerere University, where he obtained a Bachelor of Laws degree.

His entrepreneurial journey began in 2005 when, according to his biography, he received capital from his parents to start a small trading business. He initially dealt in garments, furniture, ladies’ bags and other consumer goods, purchasing merchandise from major wholesalers and selling it locally.

As the business expanded, he began importing directly from markets including China, Thailand, Hong Kong and Dubai, supplying goods to wholesalers in Uganda and neighbouring countries.

In 2009, he ventured into real estate through Ham Enterprises (U) Ltd. By 2010, construction had begun on Ham Towers, which became one of his early major commercial property developments in Kampala.

Building a diversified business group

Kiggundu subsequently expanded his interests into several sectors through the Ham Group of Companies.

His business interests include commercial and residential real estate, manufacturing, agro-processing, logistics, hospitality and technology.

Among his major developments is Ham Towers and Ham Shopping Mall, which comprise commercial and hospitality facilities, including offices, shops, serviced accommodation and other amenities.

He also developed Ham Palm Villas, a large residential estate designed to provide housing alongside amenities such as recreational facilities, healthcare services, retail outlets, security and other infrastructure.

In the technology sector, Hamz Limited operates digital platforms focused on areas including payments and remittances, social networking and entertainment, e-commerce and online education.

In 2023, Kiggundu also established Ham Agro-Bank, a venture designed to support farmers by providing inputs such as machinery, seeds and pesticides, with repayment made through agricultural produce.

Nakivubo Stadium investment

One of Kiggundu’s most prominent public projects is the redevelopment of Nakivubo Stadium in Kampala.

The stadium redevelopment project began with the demolition of old structures in 2017, followed by the construction of a modern sports facility.

The renovated stadium has facilities for several sporting disciplines, including football, netball and basketball, as well as conference and hospitality facilities.

Kiggundu has described the investment as part of efforts to support sports development and create opportunities for young talent in Uganda.

Philanthropy and environmental initiatives

Kiggundu has also been involved in charitable and environmental initiatives.

He has supported the Kampala Greening Campaign, including a reported donation of 100,000 Royal Palm trees to the Kampala Capital City Authority (KCCA) for planting along city roads.

He has also spoken publicly about the importance of Africans taking responsibility for the continent’s economic transformation.

“The only way to pull Africa out of poverty to prosperity is for us Africans to accept it as our responsibility,” Kiggundu has stated.

His philanthropic philosophy is also influenced by his Muslim faith. He has described charity as an obligation to help people in need and as an act whose ultimate reward comes from Allah.

Recognition

Kiggundu has received recognition from various organisations for his entrepreneurial activities and contribution to business development.

Public Opinions Uganda named him among its Top 100 Uganda Development Champions in 2025 and has described him as an example of an entrepreneur who transitioned from informal trading into large-scale business.

Business and investment consultant Buyinza Adam Luzindana has also praised Kiggundu’s efforts in promoting international trade, tourism, investment and educational exchange.

Kiggundu has maintained a relatively low political profile while expressing support for government development programmes and President Yoweri Kaguta Museveni.

Rising wealth

According to Bossip Africa, Kiggundu’s estimated wealth has risen significantly over the past six years, from approximately $350 million in 2020 to $1.3 billion in 2026.

The publication attributes the growth to the expansion of his business interests, new construction projects, industrial investments and the reinvestment of profits into physical assets.

Unlike fortunes built mainly through publicly traded stocks or financial investments, Kiggundu’s wealth is largely tied to privately held businesses and tangible assets.

Bossip Africa says its 2026 ranking considers factors including estimated net worth, asset ownership, business control and economic footprint, with particular attention to privately held enterprises.

The publication’s assessment also places emphasis on the productive and operational nature of Kiggundu’s holdings.

Beyond his estimated personal fortune, Kiggundu’s companies employ workers directly and indirectly and participate in supply chains covering construction, manufacturing, logistics, agriculture and services.

At 42, Kiggundu’s rise from a small garment trader to the head of a diversified business group has made him one of Uganda’s most prominent young entrepreneurs, while his reported $1.3 billion valuation places him at the centre of the country’s changing business landscape.

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