- Amos Nzeyi is one of the richest men in East Africa who started from the very bottom
- The billionaire’s wealth is estimated to be over $57 million
Most people despise humble beginnings but what they ought to know is that you can literally start from anywhere and achieve your goals if only you put in the work and remain disciplined. This is the exact story of Amos Nzeyi who started off hawking eggs and ended up becoming a multi-billionaire.
Here is his story as told by WoK.
Profile of Amos Nzeyi
Amos Nzeyi is a renowned Ugandan entrepreneur and industrialist. The 75 year old has interests in real estate, tourism, hospitality and in the water and carbonated soft drinks sectors.
According to ceo.co.ug, his estimated net worth is USD57 million (equivalent of Kes6.5 billion). He was born in 1947 in Kabale, Kigazi region of Uganda into a humble family. His father worked in one of the oldest hotels in Kabazi known as White Inn.
He didn’t get the basic education due to lack of school fees but that never stopped him from being successful.
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Amos Nzeyi Education and business mind
He started hawking eggs while he was in primary school. The class three pupil was only eight years at the time and needed money to pay his school fees.
After running the business for quite some time, he realized he was making losses prompting the young entrepreneur to close shop. Amos Nzeyi changed course and started selling buns and mandazi which was quite successful.
After completing his primary school, he was invited to Kampala by his brother to join him at Kalolo High School but unfortunately he couldn’t get admitted due to lack of school fees.
He then began selling penicillin tablets to treat gonorrhoea, which was quite rampant during the time. Nzeyi would hawk the medicines around the streets of Kampala and these venture made him some good profits.
He then relocated to Mbarara town to work on the Mbarara- Katunguru road construction project as a ‘Spanner boy.’ He worked there for almost three years and after gaining the requisite skills in the sector, he quit the job to start his own real estate Company.
Amos Nzeyi Breakthrough
The business magnate started trading foodstuffs from Kinkizi in Kanungu District to Kabale where he would supply to schools and markets.
He ventured into the timber business where he started supplying the National Housing & Construction Company (NHCC) estates.
NHCC was tasked by the government to build different housing estates in prime neighbourhoods of Kampala like Bukoto, Kyambogo and Ntinda.
This venture gave him a good kill which helped him raise enough money to buy trucks. He would later invest his profits into motocross which was one of his hobbies.
During those days in the 70s when Idi Amin was president, Uganda hosted the Organization of African Unity (OAU) summit rally which Amos won.
This didn’t please Idi Amin prompting Amos to flee with his trucks into exile in Kenya. While in Kenya, he established a transport company which grew to a capacity of over 250 trucks. A few years later, his son was diagnosed with cancer and needed urgent treatment.
The treatment process would take two years and for convenience purposes, Amos and his family decided to relocate to the United Kingdom. While in the UK, he began buying dilapidated properties which he would refurbish then sell at a profit.
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Returning to Uganda
Nzeyi returned to his homeland in 1986. While in the UK, he had fallen in love with bread and when he landed in Uganda, he realized that there was no bread in the country.
He bought baking equipment and established Hot Loaf Bakery which was the only bakery in Kampala. He then set up bottle crown making company which was later given the job to supply Pepsi with bottle crowns.
Then came a time when the government was directed by the International Monetary Fund (IMF) to privatize government parastatals. Amos together with his friend, the late Dan Kigozi and Chris Kayoboke submitted a successful bid to run Lake Victoria Bottling Company which they later renamed it into Crown Beverages Limited (CBL).
Success
In 1997, Crown Bottlers Limited entered into a joint venture with International Pepsi Cola Bottling Investments Limited (IPCBI) from South Africa. The deal had IPCBI acquire 51 percent shares and took the management of the company.
However in October 2001, Amos and his friends acquired 100 percent shares of the company taking over the successful company again. Today, Amos is the majority shareholder with a 51 percent stake and serves as the Executive Chairman.
In 2020, the company had a turnover of USD115 million and a profit of USD 10 million. The billionaire owns Hot Loaf Bakery Limited as well as Palm Valley Golf & Country Club situated in Bwabejja off Entebbe road.
He has in the past served in various boards including Uganda Manufacturers’ Association and Uganda Development Bank. He recently acquired Pineapple Bay Resort situated on Bulago Island next to Lake Victoria and a yacht to facilitate his luxurious lifestyle.
