Sunday, June 9, 2024

Hamis Kiggundu

The first African Billionaire to build a national stadium with own funds

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Nelson Oko
Nelson Oko
Based in Nigeria, Nelson Oko is a features editor at Real Simple where he manages the publication’s personal finance, career, product testing and pets coverage. His work has also been seen in Travel + Leisure, Better Homes and Gardens, Southern Living and more.

#5|Hamis Kiggundu|$1.02Bn

Random fact: “Historical: The first African Billionaire to build a national stadium with own funds”

Overview

Uganda’s fifth richest person is the founder and CEO of the Ham Group of Companies, one of East Africa’s largest Conglomerates with interests in: Real Estates, Logistics, Agro-Processing, Education and Sports, Hospitality, Banking and Finance, Entertainment, Technology and Manufacturing. He trades in Uganda mainly as Ham Enterprises, in South Africa as Ham International Ltd, in England as Ham International UK Ltd, in UAE as Hamis International Real Estates LLC, In Texas USA as Ham International Express Logistics LLC and in California USA as Ham International Ltd

The majority of Kiggundu fortune is derived from his 99% stake in renown Ham Enterprises Ltd. He holds the shares in the company directly and through his offshore subsidiaries in South Africa, UAE, Mauritius, Malta, the UK, and USA.

In his home country where he is based, Kiggundu owns and manages commercial properties, a 3D and 5D Cinema-Ham Cinemax, Ham Suites, a 50 serviced rooms hotel, Hana International school located in Nsangi, Factories Manufacturing Cosmetics and a range of household consumer goods, Mineral water and Soft drinks processing plants, a Supermarket and a chain of restaurants and confectionaries, 15 square miles of land in Mpigi and a total of 160 acres of land in Kampala city center and outskirts

Kiggundu’s other offshore valued assets include 184 trucks, in Euless, TX transporting logistics throughout the United States, 200 salon cars in California offering public transport in partnership with Uber, Several Commercials in Dubai, His commercial on Moston lane in Manchester City, Digital Social Media platforms operated and controlled from the White House Replica and residential properties in Pretoria south Africa.

His most valuable closely held asset is Ham Shopping Grounds generating reasonable monthly income. Its net value is based on a discounted cash flow analysis by Finsys Consult. The valuation was confirmed by outside analysts.

He has a Palatial residential home, Hams Residence valued at $ 32 Million.

Ham Agro Bank isn’t included in the valuation because it’s not yet operational.

The Multi-Millionaire owns 12 residential and commercial properties in Kampala. They are valued using the capitalization method, using rental income provided by Kiggundu’s Manager, Ssentongo Yasin, and capitalization rates from Finys Consult Kampala.

His cash holdings are based on an analysis of Incomes, taxes, insider transactions and other expenditures.

Biography

Birthdate: 10.02.1984

Family: Single, a father.

Africa’s youngest pre-billionaire was born in Masaka, Uganda, in 1984. Kiggundu would help his father, a textile trader in his shop from where he absorbed the fundamentals of business and during middle school holidays his parents gave him capital to start his own venture.

He used his father’s textile background, accumulated experience and started buying garments, ladies’ bags and other textiles from large importing wholesalers and selling them locally. As his margins grew, he began to source directly from international markets and became a firsthand importer who could distribute his merchandise at wholesale in the entire East African Community member countries. As his trading business thrived, he upgraded to real estates; buying and selling land and properties.

In 2009 he incorporated Ham Enterprises (U) Ltd and advanced to constructing and owning his commercial edifices. In 2010, Kiggundu started erection of Ham towers, his first commercial edifice at the Makerere suburb of Kampala city. Having mastered the commercial real estate trifles with reference to lessons learnt from his first project, Kiggundu was able to move a bit faster and within 18 months, he had erected his second property — Ham Shopping Mall. With combined rental income coming from both properties, he was able to easily secure more financing with the banks, for other projects given his reasonable collateral.

Today, the Ham Group is one of the largest conglomerates in Uganda, with international operations in South Africa, United Kingdom, United States and The United Arab Emirates.  The Ham Group has moved from being a small garment trading enterprise to be one of the largest industrial groups in Uganda, encompassing divisions like Ham Enterprises, Ham Palm Villas, Ham Agro Processing Industries, Ham Agro Bank, Hamz Link, Kiham Enterprises, Kiggs International Ltd, Ham Suites, Ham Cinemas, Ham International Express Logistics, Ham International UK Ltd, among others.  Ham Enterprises is very loud in Kampala, with its chain of commercial properties spread around the City’s Central Business District. The company employs more than 7,000 people Globally.

In 2019, Kiggundu started construction of 1,125 luxury residential Units on 200 acres in Uganda and in March 2022, he opened market for ready ones to buyers

The Group diversified into large scale industrialization in 2021, mainly focusing on Agro-processing and value addition. Kiggundu embarked on a US$156-US$200million project in the central region where advanced Integrated Agro-Processing Industrial Plants (IAIP) are were setup at Akright City as a pioneer project, with a goal of providing value addition for resident and international consumption of Uganda’s Agro produce.

In January 2023, he started setting up Ham Agro Bank that will support farmers who are the major stake holder in his Integrated Agro Processing Plant.

A practicing Muslim, Kiggundu goes by the title “Haji,” an honorific granted to a man who has completed the pilgrimage to Mecca. A proud father, he lives in Kampala.

Milestones

A Journey of Vision and Impact

  • 1984: Hamis Kiggundu is born in Masaka, Uganda.
  • 2005: With capital from his father, Kiggundu starts his own garments trading business.
  • 2009: Graduates from Makerere University in Kampala and founds the company that later becomes Ham Group.
  • 2010: Constructs his first commercial building, Ham Towers.
  • 2012: Erects his second property, Ham Shopping Mall.
  • 2014: Starts constructing Ham Shopping Grounds and acquires property in Manchester, starting Ham International UK Ltd. Also begins trading in California, USA, as Ham International Ltd.
  • 2015: Receives a presidential directive to reconstruct and upgrade Nakivubo Stadium.
  • 2017: Demolishes the old structure and starts the construction of the new stadium.
  • 2018: Publishes Success and Failure Based on Reason and Reality and is awarded Best Selling Author by the Uganda Book Forum.
  • 2019: Begins trading in Texas, USA, as Ham International Express Logistics LLC and starts the construction of 500 luxury gated homes. Awarded a certificate for the inclusion of his book in the National Curriculum by the NCDC, Starts Construction of the White House Replica in Uganda
  • 2020: Starts construction of Ham Agro-Processing industries structures.
  • 2021: Publishes Reason as the World Masterpiece, launches a Replica of the White House in Uganda, and launches social media platforms. Receives an NCDC certificate for the adaptation of his book Reason As the World Masterpiece for use in Uganda’s schools.
  • 2022: Opens the market for Ham Palm Villas.
  • 2023:
  • Awarded Local Investor of the Year by KACITA.
  • Received the African Renaissance and Iconic Development Entrepreneur Award.
  • Honored with the Influential Business Mentorship Honor from ISB Construction Ltd.
  • Begins the establishment of Ham Agro-Bank, acquires commercial properties, and establishes trading companies in Dubai. 
  • Delivers the world-class Hamz Stadium in Uganda, receiving presidential commendation.
  • 2024: Invited to replicate the Hamz Stadium project for the Government of Namibia.

Methodology

The Bizmart Africa’s Richest and Wealth list is a concoction of wealth using Assets Valuations, (Cash, Private & Public Assets Less Miscellaneous Liabilities). We list individuals rather than multigenerational families who share fortunes, though we also include wealth belonging to a tycoon’s spouse and children if that person is the founder of the fortune. We value a variety of real and virtual assets, but we don’t pretend to know each tycoon’s private balance sheet and where documentation isn’t supplied or available, we discount fortunes.

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