10 richest investors on the Uganda Securities Exchange

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The market capitalization of the Uganda Securities Exchange (USE) is valued at US$6.1 billion which represents16.3 per cent of Uganda’s Gross Domestic Product in 2020.

The 10 richest investors in companies that are listed on the USE own stakes amounting to $18.5 million. A huge portion of the market is controlled by institutional investors and parents companies of the listed entities while the 10 richest investors control about 0.30 per cent of the market’s $6.1 billion valuations.

The USE was named as the best performing stock exchange in Sub-Saharan Africa in 2010.

Read: Africa’s Richest Man opens $600-million Cement Plant in Tanzania

Currently, there are nine domestic companies listed on the Uganda Securities Exchange.

These are:

  • Uganda Clays Ltd was listed in January 2000
  • British American Tobacco (BAT) Uganda Ltd listed in October 2000
  • Bank of Baroda (U) Ltd listed in November 2002
  • DFCU Ltd was listed in October 2004
  • New Vision Printing and Publishing Co Ltd listed in December 2004
  • Stanbic Bank Uganda Ltd was listed in January 2007
  • National Insurance Corporation listed in 2010
  • UMEME Limited Listed in 2012
  • Cipla Quality Chemical Industries Ltd listed in 2018

And eight cross border listings;

These are:

  • East African Breweries Ltd was listed in March 2001
  • Kenya Airways was listed in March 2002
  • Jubilee Holdings Ltd was listed in February 2006
  • Equity Bank Ltd in June 2009
  • Kenya Commerical Bank Ltd in November 2008
  • Nation Media Group listed in 2010
  • Centum listed in 2011
  • UCHUMI listed in 2013

10 richest investors on the Uganda Securities Exchange

The value of the shares is based on prices at the end of trading on August 20, 2021, and valuations are converted to US dollars at current exchange rates.

  1. Sudhir Ruparelia

Net Worth on the USE: $5,206,007

Holdings: Stanbic Bank Uganda, Bank of Baroda Uganda, DFCU and NIC Holdings.

Sudhir Ruparelia is one of the richest Ugandans with over 17 companies under his Ruparelia Group which has interests in media, real estate, hospitality, education, finance, agriculture, media and export among others.

He is also the richest person on the Uganda Securities Exchange with 0.65 per cent holding in Stanbic Bank Uganda worth $2.49 million, a 2.5 per cent stake in Bank of Baroda, Uganda worth $2,095,224, a 6.96 per cent of NIC Holdings and a 0.29 per cent stake in DFCU bank.

  1. Emmanuel Katongole

Net worth on the USE:$2.74 million

Holdings: Cipla Quality Chemical industries (CQCIL)

Emmanuel Katongole is an economist, businessman, statistician, entrepreneur and industrialist.

He currently serves as the Chief executive Chairman of Cipla Quality Chemical industries which is the only company in Sub Saharan Africa that is authorized to manufacture triple-combination anti-retro-viral drugs.

The pharmaceutical company also manufactures double-therapy antimalarial medication and the Hepatitis-B generic medicines, Texavir and Zentair.

He owns a 2.79 per cent stake in CQCIL worth $2.74 million.

  1. George Baguma

Net worth on the USE: $2.74 million

Holdings: Cipla Quality Chemical industries (CQCIL)

George Baguma is the chief commercial officer of Cipla Quality Chemical industries.

He is a founder investor in CQCIL and is also a member of the company’s board of directors. He owns a 2.79 per cent stake in CQCIL.

  1. Frederick Kitaka

Net worth on the USE: $2.74 million

Holdings: Cipla Quality Chemical industries

Frederick Kitaka is a Ugandan accountant, entrepreneur, mathematician, physicist and industrialist.

He is the executive director of finance of Cipla Quality Chemical Industries Limited and sits on its board of directors. He owns a 2.79 per cent stake in the company.

  1. Ibrahim Kironde Kabanda

Net worth on the USE: $1.58 million

Holdings: Stanbic Uganda Holdings

Ibrahim Kironde Kabanda is a former chairman of the Uganda Revenue Authority.

In 2015, Kabanda was the second-largest non-institutional investor in the stock of Stanbic Bank (Uganda) Limited. Currently, he owns a 0.42 per cent in the company worth $1.58 million.

  1. Ceasor Mulenga

Net worth on the USE: $1.52 million

Holdings: 1.82 per cent stake in Bank of Baroda (Uganda)

Read: NSE warns that putting a cap on banks interest rates will lower value of listed banks

  1. Maheshwary Morjaria

Net worth on the USE: $849,415

Holdings: 1per cent stake in Bank of Baroda (Uganda)

  1. Joseph Byamugisha

Net worth on the USE: $537,962

Holdings: 0.63 per cent stake in Bank of Baroda (Uganda)

  1. Rakesh Gadani

Net worth on the USE: $339,766

Holdings: 0.26 per cent stake in DFCU

  1. Keith Muhakanizi

Net worth on the USE: $248,737

Holdings: 0.2 per cent stake in DFCU

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