Renowned businessman Sir Gordon Wavamunno has declared that he has no bank loans, as all his businesses are fully funded by his own capital.
During a visit by Katikkiro Charles Peter Mayiga to his home and farm in Nakwero, Wakiso District, Wavamunno, widely known for his ventures in the auto industry, media, and manufacturing, emphasized that unity among his business associates and employees has been key to sustaining and expanding his investments.
Wavamunno also credited his children for playing a significant role in managing most of his businesses, including the responsibility of signing his personal cheques.
“They have been running the family businesses. If you don’t involve your children as you grow older, you’re making a mistake. Children cannot take over something they haven’t been part of. Often, when someone passes away, you hear of children fighting with their mother, selling properties, and causing all sorts of issues. But I urge my children not to go down that path,” he advised.
He further revealed that his farm and water factory collectively employ over 400 people.
The Katikkiro praised Wavamunno for his innovation and passion in all his ventures, encouraging Ugandans to emulate his example.
At 80 years old, Wavamunno is the owner of Spear Motors Uganda, the exclusive distributor of Mercedes-Benz vehicles in the country. His business portfolio includes GM Tumpeco, which manufactures Ugandan vehicle number plates, Wavah Water Limited, and Wavah Books Limited.
Additionally, he owns Fancy Furniture Limited, an importer and distributor of high-end office and household furniture, Wavah Books Limited, a publisher of school textbooks and other literature, and Nakweero Mixed Farm, which specializes in dairy, beef, and crop farming, among other assets.
