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{UAH} Kabaka’s Wealth Exposed:Monarch Reaps Billions From His Investments Monthly

Besides being the biggest landlord in central Uganda – with over 350 miles of personal land – the king (Kabaka) of Buganda kingdom, Ronald Muwenda Mutebi II, has set up a lot of personal investments. Forget the kingdom radio station, Central Broadcasting Service (CBS) – in which he has shares by the way, the kingdom TV station, Buganda Broadcasting Services (BBS TV) and Buganda Land Board (BLB), which is responsible for managing, overseeing and registering of squatters on the kingdom land.

Ever since he was coroneted in 1993, the Kabaka has overtly and covertly been establishing his personal businesses, most of which the public is oblivious about. As a result, our Spy decided to expose some of the investments the Kabaka has personally established, from which he accrues billions of shillings regularly.


Despite being under the management of a Chinese construction company, Mirembe Villas – Kigo is a project said to be owned by Kabaka Mutebi. Actually, it was on July 27, 2015 when the Kabaka cut the ribbon to officially launch the Villas.

Mutebi launched the Villas as part of the celebrations to commemorate his 22nd coronation anniversary. During the launch of the project, the Kabaka said that descent housing is a fundamental human right, adding that Mirembe Villas is no doubt going to change the face of Kigo.

The project emerged from of a partnership between the Kabaka through his Kingdom Investment Minister and a Chinese construction company, Henan Guoji Industry Group Co. Ltd to be precise. The project, which is still ongoing, will consist of 220 magnificent high-end villas, well master-planned, overlooking Lake Victoria and adjacent to the Serena Hotel's 19 hole Golf course.

So far, Phase I of the project covers 70 acres but the total area measures 257 acres.

The first Phase is composed of 200 units of detached villas with Mediterranean style and the project is well equipped with supporting facilities, such as shopping malls, supermarkets, club, bar, swimming pool, gym, sports courts, among others.

Accompanied by Xu Mingzheng, the Manager Director Henan Guoji Group, and Zhangchao, the project Manager, the Kabaka visited the model houses and spoke highly of the construction quality and house design and also showed his confidence towards bilateral cooperation with the Chinese company in future.

Kigo prime land is among the properties which were returned by the government of Uganda to Mengo in fulfillment of the August 2013 Memorandum of Understanding.


Namulondo Investments is a real estate management company which was established by the Kabaka to professionally maximize value out of the vast portfolio of his and the Kingdom's owned commercial estates.


This multibillion commercial plaza located at Katwe near the city centre was commissioned by the Kabaka on October 13, 2012.

The expansive commercial complex was named after Nakazzi Muganzirwazza, the Namasole (queen mother) of the late king Muteesa I.

Although the cost of the magnificent building was never disclosed, Spies in Kabaka's palace revealed that several billions were pumped into the four year project.

Still, it was erected by a Chinese construction firm, Complant.

The mega complex is currently occupied by supermarkets like Nakumatt, several banks, a television station, companies and boasts of office space. Spies say that the Kabaka reaps millions of shillings from this building monthly as rent.

Muganzirwazza, whose construction started on November 22, 2008, laid ground for the construction of then Bulange plaza, currently known as Masengere building.


Located inside the Mengo palace, Lubiri High School is said to be Kabaka's personal investment. The school boasts of over 1000 students, with O and A levels. We have learnt that although some of the students are on bursaries, those whose parents dig into their pockets part with an average of Shs600, 000 per term. Due to the big numbers, the school was even divided into the upper and lower campuses, and even a school branch was established in Buloba, which is said to have a population of over 500 students.


K2 telecom was launched by the Kabaka on December 31 2012 at the Kingdom's annual end of the year event dubbed 'Enkuuka'.

It is also said to be Kabaka's personal initiative, and some Baganda even termed the initials K2 as Kabaka Two.

However, the telecom company has failed to break-even despite having an attachment to the Kabaka and Buganda Kingdom, with over eight million Baganda.

Telecom experts say that K2's business model of operating as a Mobile Virtual Network Operator (MVNO) – meaning it depends on other networks to deliver telecom services – greatly constrained its operations.

Market reports show that the company has only about 200,000 customers compared to the one million needed to break-even.

Allaah gives the best to those who leave the choice to Him."And if Allah touches you with harm, none can remove it but He, and if He touches you with good, then He is Able to do all things." (6:17)

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