The 7 richest people on the Uganda Securities Exchange

Billionaires.Africa presents its ranking of the wealthiest Namibian investors on the Uganda Securities Exchange (USE). The data used for this analysis is sourced from our data provider, S&P Global Market Intelligence, as well as publicly available documents and disclosures. The valuation of their shares is determined by the prices recorded at the close of trading on June 26, with the valuations converted to U.S. dollars at the prevailing exchange rates.

It is important to note that Billionaires.Africa focuses on individual ownership rather than multi-generational family fortunes. In cases where the breakdown of ownership among siblings or couples is unclear, we attribute the fortune to the most prominent and visible member of the family.

Here are the seven individuals who currently hold the highest stock ownership positions on the Uganda Securities Exchange.

1. Charles Mbire

Net worth on the UGX: $41.3 million

Holdings: MTN Uganda

Charles Mbire, one of the most prominent businessmen in Uganda, owns four percent of mobile telecoms outfit MTN Uganda. Mbire is the company’s chairman. His stake in the company is currently worth $41.3 million.

2. Sudhir Ruparelia

Net worth on the UGX: $3.1 million

Holdings: Stanbic Uganda, Bank of Baroda

Ugandan tycoon Sudhir Ruparelia is one of East Africa’s wealthiest men and the chairman of Ruparelia Group, a conglomerate interested in hotels, real estate development, floriculture, and broadcasting. He is also one of the wealthiest people on the Uganda Securities Exchange. His holdings include: 0.73 percent in Stanbic Bank Uganda; a 2.5 percent stake in Bank of Baroda (Uganda); a 0.29-percent stake in DFCU bank; and 6.96 percent in NIC Holdings, an insurance company.

3. Ibrahim Kironde Kabanda

Net worth on the UGX: $1.93 million

Holdings: Stanbic Uganda

Ibrahim Kironde Kabanda, a former chairman of the Uganda Revenue Authority, owns a 0.53 percent stake in Stanbic Uganda worth $1,931,286.

4. Emmanuel Katongole

Net worth on the UGX: $1.9 million

Holdings: Cipla Quality Chemical Industries

Emmanuel Katongole founded Quality Chemical Industries, a pharmaceutical manufacturing company in Uganda. In 2015, Cipla of India acquired a 51-percent stake in the business from Katongole and renamed Cipla Quality Chemical Industries. (CQCIL). CQCIL manufactures triple-therapy antiretroviral, double-therapy antimalarial, and the Hepatitis-B generic medicines Texavir and Zentair. Katongole pocketed millions of dollars when Cipla acquired company control in 2015. He still owns a 2.79-percent stake in the company worth $1.9 million.

5. Frederick Kitaka

Net worth on the UGX: $1.9 million

Holdings: Cipla Quality Chemical Industries

Kitaka is one of the three co-founders of Cipla Quality Chemical Industries and owns 2.79 percent of the company.

6. George Baguma

Net worth on the UGX: $1.9 million

Holdings: Cipla Quality Chemical Industries

Baguma is also a co-founder of Cipla Quality Chemical Industries. He currently serves as current Chief Commercial Officer and Marketing Director at the company and has a 2.79-percent shareholding.

7. Tonny Murungi

Net worth on the UGX: $489,679

Holdings: MTN Uganda

Tonny Mpuuga Murungi owns 0.047 percent of MTN Uganda worth $489,679.