By our reporter
Kampala, Uganda — 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 Bossip Africa’s annual Billionaires Ranking released this week.
Kiggundu, founder and chairman of the Ham Group of Companies, surpassed other high-net-worth individuals in Uganda after sustained growth across his real estate, manufacturing, agro-processing, logistics and hospitality businesses.
The ranking places Kiggundu at the top of Uganda’s wealth list for the first time, reflecting both the expansion of his business holdings and the valuation of his privately held assets.
Business Expansion Drives Wealth Growth
Kiggundu’s fortune is primarily linked to his ownership and control of operating businesses rather than financial investments. His group has developed and manages commercial and residential properties, industrial facilities, logistics operations and hospitality assets across Uganda and parts of East Africa.
According to the ranking, Kiggundu’s wealth increased steadily over the past six years, supported by new construction projects, the completion of industrial plants and continued reinvestment of profits into physical assets.
Analysts say this growth model differs from wealth accumulation driven by stock markets or commodity trading.
“His wealth is largely tied to long-term, tangible assets and operating enterprises, which tend to grow more gradually but steadily over time,” said an analyst familiar with the ranking methodology.
Shift in Uganda’s Wealth Landscape
Kiggundu’s rise marks a shift in Uganda’s wealth landscape, traditionally dominated by investors in banking, finance and property.
The Bossip Africa ranking evaluates not only the size of personal fortunes but also the source and structure of wealth, classifying Kiggundu’s holdings as primarily productive and operational rather than portfolio-based.
This approach contributed to his placement ahead of other business figures whose wealth is more concentrated in financial or investment assets.
Net Worth Reaches $1.3 Billion
Bossip Africa estimates Kiggundu’s net worth at $1.3 billion in 2026, up from approximately $350 million in 2020, reflecting compounded growth across multiple sectors.
The publication notes that net-worth figures for privately held companies are estimates based on asset valuations, industry benchmarks and publicly available information, as the companies involved are not publicly listed.
Economic Impact
Beyond personal wealth, Kiggundu’s businesses employ thousands of workers directly and indirectly and support extensive supply chains across construction, manufacturing, logistics and services.
Economists say this makes his business activities economically significant beyond their contribution to private wealth accumulation.
About the Ranking
Bossip Africa’s annual Billionaires Ranking assesses individuals based on estimated net worth, asset ownership, business control and economic footprint. The methodology emphasizes long-term asset value and operational control, particularly in privately held enterprises.
The 2026 edition covers business figures across multiple African countries, with Uganda’s ranking led by Kiggundu for the first time.