Uganda's richest miss on Africa's millionaire list

Caption for the landscape image: Tuesday, October 06, 2026 Scroll down to read the article What you need to know: Top 10 cities 1. Johannesburg, South Africa 2. Cape Town, South Africa 3. Cairo, Egypt 4. Lagos, Nigeria 5. Nairobi, Kenya 6. Cape Winelands, South Africa 7. Durban, South Africa 8. The Garden Route, South Africa 9. Casablanca, Morocco 10. Pretoria, South Africa None of the many high net-worth individuals in Uganda are wealthy enough to make it to the continent’s elite list of millionaires. Despite the country being home to more than 1,600 of these affluent citizens, according to Henley & Partners and the New World Wealth report, corroborated by Uganda Revenue Authority researchers, not a single one qualifies for Africa’s wealthiest rankings. PRIME Building wealth is only half the battle For many families, the road to intergenerational wealth begins with the decisions made long before there is substantial wealth to pass on. PRIME Why wealthy people are changing wealth transfer Wealthy individuals are using strategies like upfront gifting and establishing trusts to manage how wealth is transferred to their children. PRIME Kamulegeya’s philosophy on money Mr Francis Kamulegeya, a three-decade tax and audit veteran, does not describe wealth as a destination you reach and then relax into.