Ugandan Millionaire Mohammed Hamid Launches $150 Million Hotel

Ugandan President Yoweri Museveni has reportedly launched the Pearl of Africa Hotel, a 5-star hotel owned by Ugandan millionaire businessman Mohammed Hamid.

According to a report by Ugandan newspaper, New Vision, Museveni launched the property at a colorful ceremony on Tuesday night which was attended by leading government functionaries, prominent business moguls and local celebrities.

In his remarks, President Museveni applauded Hamid for his investment in Uganda’s tourism sector, saying the facility will create thousands of jobs for Uganda’s youth and make Uganda more competitive in tourism conferencing.

The Pearl of Africa Hotel is the tallest completed building in Uganda. The 20-storey luxury hotel which reportedly cost $150 million to build is set on a spectacular site in Uganda’s fast-growing capital city. It comprises 253 rooms and 42 suites in seven levels of accommodation, ranging between 31 and 164 square metres in size. The hotel was built over 10 years.

Mohammed Hamid’s company, Aya Investments Limited, has been building the property since 2006.

The launch of the property has been postponed many times due to cash shortages and disagreements over a licensing deal with the Hilton Hotels brand, the hotel group that was initially contracted to manage the hotel. The hotel is now managed by South Africa’s Sovereign Hotels.

Mohammed Hamid, 42, is the founder of Aya Group, one of Uganda’s largest business conglomerates with interests in mining, biscuit manufacturing, milling and logistics. Hamid is a controversial figure in Uganda. Earlier this year, a former female employee accused the business mogul of sexual harassment and assault. Hamid has denied the allegations. The case is still under investigation.