Anatoli Kamugisha
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 investor. He also serves as 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]
Anatoli Kamugisha | |
|---|---|
| Born | 1963 (age 57–58) |
| Nationality | Ugandan |
| Citizenship | Uganda |
| Alma mater | Kyambogo University (did not graduate) |
| Occupation | Investor & businessman |
| Years active | 1989–present |
| Known for | Real estate |
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]
- Akright Namanve Housing Estate – Namanve
- Akright Namugongo Housing Estate – Nsasa
- Akright Kirinnya Housing Estate – Kirinnya
- Akright Lubowa Housing Estate – Lubowa
- 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]
References
- Ssempijja, David (8 December 2012). "Low cost housing remains a dream". New Vision (Kampala). Retrieved 28 November 2017.
- 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.
- Kulabako, Faridah (10 March 2014). "REAL ESTATE entrepreneur". Daily Monitor (Kampala). Retrieved 28 November 2014.
- 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.
- Edgar R. Batte (23 April 2020). "Kamugisha: How Loans Drove Akright Proprietor To The Edge". Daily Monitor. Kampala. Retrieved 24 April 2020.
- 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.
- w'Ouma, Wandera (14 July 2006). "Uganda: Museveni to Launch Kakungulu Estate Today". Daily Monitor (Kampala) via AllAfrica.com. Retrieved 28 November 2014.