Charles Mbire and James Mwangi reach US$100 million in public equity holdings

Prominent East African businessmen Charles Mbire of Uganda and James Mwangi of Kenya have reached a milestone where the market value of their publicly traded shareholdings exceeds US$100 million.

Charles Mbire’s wealth in listed equities is largely driven by his stake in MTN Uganda, where he holds approximately 895.56 million shares, representing about 4 percent of the company. His identified holdings in MTN Uganda and Bank of Baroda Uganda are valued at approximately UGX 408.72 billion. Similarly, James Mwangi’s position is anchored by his stake in Equity Group Holdings, listed on the Nairobi Securities Exchange.

In Uganda, while individual investors like Sudhir Ruparelia, Augustus Ceasor Mulenga, and Emmanuel Katongole hold significant interests across telecommunications, banking, and manufacturing, institutional investors remain the primary drivers of market activity. In 2025, institutions accounted for roughly 81 percent of total equity turnover on the Uganda Securities Exchange.