Amos Nzeyi

Amos Nzeyi (born 25 December 1947) is a Ugandan businessman, entrepreneur, and industrialist. He is one of the wealthiest people in Uganda.^[1]

Amos Nzeyi
Born	(1947-12-25) December 25, 1947 (age 77) Kabale Hospital, Kabale District, Uganda
Nationality	Ugandan
Citizenship	Uganda
Occupation	Businessman
Years active	1967–present
Known for	Pepsico Uganda, Wealth
Title	Chairman of Crown Beverages Limited

Nzeyi is the executive chairman of the board of directors at Crown Beverages Limited, the exclusive bottler of PepsiCo products in Uganda. He previously held a 40% share in the National Bank of Commerce until its takeover by Crane Bank in September 2015^[2][3][4]

Nzeyi has been active in Uganda’s business sector since the 1970s, with interests spanning timber, transport, manufacturing, and food processing. He founded Hot Loaf Bakery in 1986, one of the first major bread producers in Uganda after the National Resistance Movement came to power. In the late 1980s, he established a crown cork manufacturing plant supplying beverage companies across East Africa before securing the PepsiCo bottling franchise for Uganda and co-founding Crown Beverages Limited.^[5][6]

Under Nzeyi’s leadership, Crown Beverages Limited has expanded from producing 18 million cartons of soda annually in 1993 to over 65 million, achieving more than 70% market share in Uganda’s soft drinks sector.^[7][8] The company has received multiple recognitions, including the PepsiCo Europe and Sub-Saharan Africa Bottler of the Year Award (2018), top taxpayer awards from the Uganda Revenue Authority, and several governance and growth accolades from PepsiCo’s Africa, Middle East and South division.^[9][10][11] Between 2013 and 2018, it remitted UGX 284 billion in taxes, and in 2022 embarked on a USD 90 million plant expansion to increase capacity.^[12][13]

Outside business, Nzeyi is a former competitive rally driver, having participated in regional motorsport events during the 1970s, including a rally organised in 1976 by President Idi Amin to coincide with Uganda’s hosting of the Organisation of African Unity summit, which he won.^[5] According to later accounts, the victory drew the attention of the State Research Bureau, prompting him to leave Uganda for exile in Kenya.^[14] He later became a golfer and founder of Palm Valley Golf and Country Club.^[15][16][17]

He is also the Head of Mission and Honorary Consul for the Mauritius Diplomatic Mission and Consulate of Mauritius in Kampala, a position he has held since 2018 when the country established its first representation in Uganda.^[18][19]

Early Life, Family Background & Education

Amos Nzeyi was born on 25 December 1947 at Kabale Hospital, in southwestern Uganda. He is the son of Nathanel Sebugunzu, a herdsman from Bufumbira in present-day Kisoro District, whose life intersected with key historical moments in the precolonial and early colonial development of the Kigezi region.^[5]

Nzeyi’s father, Sebugunzu, was a cattle herder in the Bufumbira hills during the late colonial period. According to oral accounts, while herding, he encountered British missionaries traveling from Rwanda toward Kabale and directed them to a local pond known as Ekigyezi. The missionaries’ mispronunciation of the name is said to have evolved into “Kigezi,” later adopted by colonial administrators for the wider region.^[20] Sebugunzu subsequently accompanied the missionaries to Kabale, where he was employed at the newly established White Horse Inn. He later introduced his younger brother, Ernesto Binyuku, who went on to serve as a Muruka Chief under the British administration. Family accounts also suggest that Sebugunzu may have been present during an undocumented episode in which Prince Albert Edward (later King Edward VII) was concealed near Lake Bunyonyi. A nearby lake in the region would later named Lake Edward in the prince’s honor, anchoring the area more firmly in British imperial geography.^[21]

Years later, Amos Nzeyi would return to Kabale and acquire ownership of the White Horse Inn, the same establishment where his father had once worked. The transition from colonial employment to local ownership symbolized a generational shift in control and legacy.^[22]

Education

Amos Nzeyi began his education at Rwere Church School, a small village institution that offered classes up to Primary Three but later expanded and upgraded to become the current day Rwere Primary School. His enrollment followed a decision by his father, Mzee Sebugunzu, after observing his independence and determination. Several of Nzeyi’s classmates at Rwere later became notable public figures, including Amama Mbabazi and Ruhakana Rugunda, who both served as Prime Ministers of Uganda, and Emmanuel Tumusiime-Mutebile, who became Governor of the Bank of Uganda.^[23][24]

Business interests

Nzeyi has owned the following businesses wholly or in part:

• Crown Beverages Limited – A bottler of Pepsi products. As of April 2013, he was chairman of the board and part-owner.^[25]
• Hot Loaf Bakery – A bakery in Kampala, Uganda. He is the owner and chairman of the board.^[26]
• White Horse Inn – A hotel in Kabale, Uganda. As of April 2015, he was the proprietor.^[27]
• Nandos Restaurant – A fast-food restaurant in the center of Kampala, which Nzeyi formerly co-owned.^[28]
• National Bank of Commerce – A small commercial bank, founded in 1991 by private investors, since closed by the Bank of Uganda.^[29][30]

Other responsibilities

Besides his personal business interests, Nzeyi has had the following public, fiduciary responsibilities:

• He is a former member of the board of directors of the Uganda Development Bank.^[31]
• Nzeyi is the former chairman of the Uganda Manufacturers' Association. He was elected to a second and final two-year term in May 2015.^[32]
• Dr. Amos Nzeyi is Honorary Consul for Mauritius in Kampala, Uganda. The Consulate of Mauritius is the first representation of Mauritius in Uganda established in 2018 following the appointment of Dr Amos Nzeyi as the Honorary Consul.

Temangalo Land Transaction and NBCU Closure

Temangalo Land Sale

In 2008, Amos Nzeyi was involved in the sale of land located in Temangalo, Wakiso District, which later became a subject of public controversy. The National Social Security Fund (NSSF) purchased 100 acres of land from Nzeyi at a rate of UGX 24 million per acre, following valuation and negotiations. At the time, he had reportedly received higher offers from other private investors, including real estate developer Anatoli Kamugisha, who offered UGX 29 million per acre for a larger parcel.^[33][34][35]

Nzeyi defended the transaction as a fair market deal, arguing that the NSSF was not overcharged and that the land was sold below its potential market value due to his need for urgent capital. Critics raised concerns about conflict of interest and transparency, though subsequent investigations did not conclusively prove impropriety.^[36][37][38]

Court Clears Nzeyi

In 2016, Temangalo Tea Estate, a company owned by the family of Muhammad Hassanali Moosa, sued the National Social Security Fund and Amos Nzeyi, seeking to repossess 366 acres of the Temangalo land, claiming it belonged to them. In 2019, the Land Division of the High Court dismissed the case with costs. Justice John Eudes Keitirima ruled that the matter had been filed beyond the statutory time limit, regardless of the merits of the claims. Records indicated that Mr. Nzeyi sold the Temangalo land to NSSF in 2009 after having acquired it in 1988 with the intention of developing a dairy farm. He purchased the property in phases from Abbas Mawanda, the former managing director of Uganda Development Bank. Nzeyi was cleared of any wrongdoing in the acquisition and ownership of the land.^[39]

National Bank of Commerce Uganda (NBCU)

The proceeds from the Temangalo transaction, approximately UGX 11 billion, were deposited into the National Bank of Commerce Uganda (NBCU), a commercial bank in which Nzeyi held a significant stake. According to Nzeyi, this injection of capital was part of efforts to meet the Bank of Uganda's (BoU) capitalization requirements. An additional UGX 3 billion was raised through a loan from Tropical Bank.^[40]

Despite reportedly meeting the required UGX 15 billion capitalization threshold, NBCU was closed by BoU on 27 September 2012. According to Nzeyi’s account, a final sum of USD 3 million was transferred through Commercial Bank of Africa to BoU the day before the closure deadline. However, BoU questioned the origin of the funds and proceeded to shut down the bank, citing regulatory concerns.^[41]The closure involved a rapid operation by security personnel, including reported involvement of armed operatives. The bank’s assets and data were seized, and operations ceased immediately.^[42][41][43]A parliamentary investigation by the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) later found that NBCU was solvent at the time of closure, raising further questions about the regulatory motivations behind the decision.^[44][45]

Ongoing Debate

The Temangalo and NBCU matters remain subjects of public debate in Uganda. While Nzeyi attributes the controversies to political manipulation and misinformation, others have called for greater regulatory transparency and judicial accountability.^[46][47][48]

See also

• List of wealthiest people in Uganda