Understanding Wealth Classes in Uganda - The Ugandan Estimate.

March 14, 2024

Inspired by Livingstone Mukasa post on X To be rich in Uganda, you need a Networth of $1.1M  ( UGX 4.49 Billion). Here is why post, you can read all about it in the link to his name,

In an attempt to further examine the distinction between the rich and poor in Uganda, I've made a chart to help assess who might be considered rich and who is poor in Uganda.

I based my estimates on the Wealth study from the US that shows levels of wealth and the matrix spectrum. I also took into account how much it costs to live in Uganda versus the US. For every $100 needed in the US for basic things, you only need $20 in Uganda for the same things. Using these details, I adjusted the US numbers to come up with the Uganda comparative figures.

In Uganda, using the study above someone to be classified as Poor, is anyone with an annual income of less than 15,400,000 UGX or around 1.2 million gross per month.

The 'Lower Middle Income' class is the next step up, with an annual income ranging from 15,400,000 to 34,999,999 UGX (or UGX 1.25 million per month to UGX 2.9 million per Month).

The True Middle Income Middle Income class would have an annual income between 35,000,000 and 78,399,999 UGX per year or (UGX 2.9 million to UGX 6.5 million per month).

The Upper Middle-Income class is characterized by an annual income between 78,400,000 and UGX 1,049,999,999 (or UGX 6.6 million per month up to 87 million per month) .

Everyone else is Rich and Wealthy though it might be debatable that anyone who earns over 50 million per months should be considered Rich for Ugandan context.

Let me know, what do you think? what are your opinion on this?

Alex Kakande