Renowned property mogul John Bosco Muwonge, also known as Ntere Nfune, has officially acquired Mukwano Arcade, one of the most iconic commercial buildings in downtown Kampala. The acquisition reportedly cost him UGX 250 billion.
Located on Ben Kiwanuka Street, Mukwano Arcade was previously owned by the Mukwano Group of Companies. The building is a major hub for retail and wholesale businesses in the city’s bustling central business district.
Muwonge, a low-profile but influential figure in Uganda’s real estate sector, is believed to own commercial properties on nearly every busy street in Kampala—including Nabugabo, William, Luwum, Ben Kiwanuka, and Kisekka Streets. His latest acquisition further cements his position as one of Uganda’s top property owners by value.
This deal comes shortly after another high-profile acquisition by Yasser K. Ahmed, co-founder of Harriss International Limited, who recently took over Lugogo Mall. The mall, now rebranded YK Lugogo Mall, hosts major retailers such as Carrefour and China Town, and previously housed Game and Shoprite.
Ahmed, a Lebanese businessman and Honorary Consul of Lebanon in Uganda, is also known for his investments in manufacturing and beverage brands including Riham, Rock Boom, and Krystal Water. Harriss International is partially backed by the wealthy Oppenheimer family of South Africa.
Both acquisitions highlight a continued reshaping of Kampala’s commercial real estate landscape, driven by billion-shilling deals and deep-pocketed investors expanding their influence across the capital.
