Ugandan businessman Ponsiano Ngabirano’s Kampala Marriott Hotel and Marriott Executive Apartments have secured a $166 million valuation after Uganda’s National Social Security Fund invested $50 million for a 30 percent stake in the luxury hospitality development. The transaction gives the Nsambya-based property an implied value of about $166.7 million.

NSSF enters hospitality

The investment expands NSSF’s portfolio into hospitality after more than a year of board scrutiny, adding exposure to accommodation, conferences and related services. The fund said the investment forms part of its mandate to deploy workers’ savings into assets capable of generating returns while participating in Uganda’s growing tourism economy.

The twin-tower development, opened on August 27, adds 277 rooms and serviced apartments to Kampala’s premium hospitality market as Uganda prepares to co-host the 2027 Africa Cup of Nations. President Yoweri Museveni inaugurated the property, marking the debut of Marriott International’s flagship Marriott Hotels and Marriott Executive Apartments brands in Uganda.

Ngabirano expands beyond retail

Located along Ggaba Road in Nsambya, the development comprises 181 hotel rooms and suites, including a Presidential Suite, alongside 96 fully serviced executive apartments. It targets business and leisure travelers, while the apartments cater to executives, consultants, diplomatic personnel, project teams and families seeking longer-term accommodation.

It is about 40 kilometers from Entebbe International Airport and close to diplomatic missions, corporate headquarters, government institutions and cultural attractions. Its facilities include six restaurants and bars, a spa, steam and sauna facilities, fitness center, outdoor heated swimming pool, business center and Marriott’s Greatroom lobby, linked by a skybridge.

Marriott strengthens Uganda presence

Ngabirano, founder of Capital Shoppers, one of Uganda’s established supermarket chains, owns the property under a franchise agreement with Marriott International. The arrangement allows his business to operate the hotel under Marriott’s brand and systems, extending his interests from retail into premium hospitality.

The opening takes Marriott International’s Ugandan portfolio to seven properties across five brands, strengthening its presence as tourism, business travel, and major international events support demand for higher-end accommodation. The asset is also expected to generate activity across food production, transport, security, cleaning, events and other tourism-related services.