Anatoli Kamugisha

Last updated

Anatoli Kamugisha
Born1963 (age 60–61)
Uganda
NationalityUgandan
CitizenshipUganda
Alma mater Kyambogo University
(did not graduate)
OccupationInvestor & businessman
Years active1989–present
Known forReal estate

Anatoli Kamugisha is a businessman, entrepreneur, and investor in Uganda, the third-largest economy in the East African Community. He is the managing director and chief executive officer of Akright Projects Limited, a Ugandan real estate development company. He also serves as the president of the Uganda Private Property Developers Association (UPDA). [1] He has been reported to be one of the wealthiest individuals in the country, with an estimated net worth of approximately US$77million as of January 2017. [2]

Contents

Background and education

He was born in 1963 in Mitooma District, Western Region. He attended local schools and was admitted to Kyambogo Polytechnic, now part of Kyambogo University, to study for a civil engineering degree. However, he left the university before graduating when he ran out of tuition money. [3]

Work experience

In 1989, at age 26, Kamugisha founded his first company, Kanoblic Group Limited, a real estate construction enterprise. He borrowed money from friends to register his business. He won construction contracts from several reputable firms, including Sugar Corporation of Uganda Limited and the Norwegian Forestry Society. [4]

In 1999, he closed down Kanoblic and started Akright Projects Limited, a company that plans, designs, and constructs organized residential communities (satellite cities) in or near urban centers in Uganda, as an alternative to the mushrooming slum problem in Uganda's cities and towns. [4]

Akright has developed several residential estates including: [4]

  1. Akright Namanve Housing Estate – Namanve
  2. Akright Namugongo Housing Estate – Nsasa
  3. Akright Kirinnya Housing Estate – Kirinnya
  4. Akright Lubowa Housing Estate – Lubowa
  5. Akright City – Bwebajja

In an interview that he gave to the Daily Monitor, in April 2020, Kamugisha explains how borrowing from banks nearly destroyed his business empire. At that time, while most of his troubles were behind him, he was not totally out of the weeds yet. [5]

Kakungulu Housing Estate

In 2002, Akright acquired 2 square miles (1,300 acres) of land from the descendants of Badru Kakungulu for the development of the company's largest planned housing estate in the country, Akright Kakungulu Housing Estate, also referred to as Akright City. It is located at Bwebajja, approximately 18 kilometres (11 mi), by road southwest of Kampala, Uganda's capital, along the Kampala–Entebbe Road. [6] [7]

See also

Related Research Articles

Lubowa is a location in Wakiso District of the Central Region of Uganda. It is a suburb of Kampala, the capital of Uganda and the largest city in that country.

<span class="mw-page-title-main">Kyambogo University</span> Public university in Uganda

Kyambogo University (KYU) is a public university in Uganda. It is one of the eight public universities and degree-awarding institutions in the country with the motto, "Knowledge and Skills for Service."

<span class="mw-page-title-main">Stanbic Bank Uganda Limited</span> Commercial bank in Uganda

Stanbic Bank Uganda Limited (SBU) is a commercial bank in Uganda and is licensed by the Bank of Uganda, the central bank and national banking regulator.

DFCU Bank, registered as the Development Finance Company of Uganda Bank Limited, is a commercial bank in Uganda. It is licensed by the Bank of Uganda (BoU), Uganda's central bank and national banking regulator.

The Ruparelia Group of Companies, commonly referred to as the Ruparelia Group, is a privately owned conglomerate in Uganda. Sudhir Ruparelia, a wealthy Ugandan businessman, is a shareholder in each of the companies in the Group.

<span class="mw-page-title-main">Absa Bank Uganda Limited</span> Commercial bank in Uganda

Absa Bank Uganda Limited, formerly known as Barclays Bank of Uganda Limited, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator. The bank is a subsidiary of Absa Group Limited, a financial services conglomerate, based in South Africa, with banking subsidiaries in 12 African countries and representative offices in two other African countries. Absa Bank Group, whose shares trade on the JSE Limited, was reported to have total assets in excess of US$91 billion, as of October 2019. 

Ntinda is a location in northeastern Kampala, the capital city of Uganda.

<span class="mw-page-title-main">Amina Moghe Hersi</span> Somali entrepreneur (born 1964)

Amina Hersi Moghe is a Somali entrepreneur. She has launched several multimillion-dollar projects in Kampala, Uganda. Her investments include Oasis Shopping Mall in Kampala's central business district and the Laburnam Courts Apartments, on Nakasero Hill adjacent to State House Kampala. She in the process of launching the first sugar factory in Northern Uganda. Atiak sugar factory will not only bring revenue and development for the region but is championed as the first large scale industrial project for Northern Uganda. She is also one of the city's largest distributors of cement and other hardware materials. With successful business ventures throughout Uganda she has become a beacon of hope and a motivating role model for young African girls.

The Kampala Industrial and Business Park(KIBP), also referred to as Kampala Business and Industrial Park or Kampala Industrial Park, is an industrial and business park in Uganda. The park was developed by the Uganda Investment Authority (UIA) as a central place where investors can locate factories, warehouses, distribution centers, and other business offices.

Roofings Group, often referred to simply as Roofings, is the largest manufacturer of steel construction materials in Uganda, with installed production capacity of 72,000 metric tonnes annually.

The Entebbe–Kampala Expressway, also known as the "Kampala–Entebbe Expressway" or the "Entebbe–Kampala Highway", is a four-lane toll highway in the Central Region of Uganda. The highway links Entebbe International Airport, the country's largest civilian and military airport, to Kampala, the country's capital and largest metropolitan area. Originally, the highway was planned for commissioning in 2016, but because of the delayed works, commissioning was done on 15 June 2018 by Uganda's sitting president, Yoweri Museveni. Recently, the Uganda Minister for Works and Transport, Gen. Katumba Wamala launched the toll point at Kajjansi along Kampala–Entebbe Road.

Kirinnya, is one of the six administrative wards in Kira Municipality in Wakiso District in the Central Region of Uganda.

Tirupati Group Limited (TGL) is a privately owned real estate development and construction company in Uganda. Tirupati Group Limited provides development funding and also constructs its own buildings.

Akright Projects Limited (APL) is a privately owned real estate development company in Uganda. It is a leading property development company in the country. APL is the largest indigenous property development company in Uganda.

Ssabagabo, also known as Makindye-Ssabagabo or Ssabagabo-Makindye, is a municipality in Uganda.

<span class="mw-page-title-main">Kampala–Entebbe Road</span> Road in Uganda

The Kampala–Entebbe Road, also known as the Entebbe–Kampala Road or the Entebbe Road, is a road in the Central Region of Uganda, connecting the capital city of Kampala and Entebbe International Airport.

Akright City is a residential community in Wakiso District of the Central Region of Uganda.

The Nakawa–Naguru Estates is a mixed, urban, commercial and residential real estate development, under construction in Uganda.

The International Specialized Hospital of Uganda (ISHU) is a public, specialized, referral tertiary care medical facility under construction in Uganda. The hospital is expected to take two years to construct. The private developers who are constructing the hospital will operate it for ten years, then turn it over to the government of Uganda, in a public-private partnership arrangement.

Mulawa is a neighborhood in Kira Municipality, Kyaddondo County, Wakiso District, in Central Uganda.

References

  1. ↑ David Ssempijja (8 December 2012). "Low cost housing remains a dream". New Vision . Kampala, Uganda. Retrieved 29 September 2022.
  2. ↑ Michael Kanaabi, and Ssebidde Kiryowa (6 January 2018). "The Deepest Pockets". New Vision Mobile (Kampala). Archived from the original on 21 October 2014. Retrieved 28 November 2017.
  3. ↑ Kulabako, Faridah (10 March 2014). "REAL ESTATE entrepreneur". Daily Monitor (Kampala). Retrieved 28 November 2014.
  4. 1 2 3 Akright Projects Limited (28 November 2014). "Welcome To Akright Projects Limited". Kampala: Akright Projects Limited. Archived from the original (Archived from the original on 5 December 2014) on 5 December 2014. Retrieved 24 April 2020.
  5. ↑ Edgar R. Batte (23 April 2020). "Kamugisha: How Loans Drove Akright Proprietor To The Edge". Daily Monitor . Kampala. Retrieved 24 April 2020.
  6. ↑ Kisambira, Edris (17 April 2006). "Uganda: Shelter Afrique, Akright In US$8.5 Million Housing Deal". East African Business Week (Kampala) via AllAfrica.com . Retrieved 28 November 2014.
  7. ↑ w'Ouma, Wandera (14 July 2006). "Uganda: Museveni to Launch Kakungulu Estate Today". Daily Monitor (Kampala) via AllAfrica.com . Retrieved 28 November 2014.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.