City businessman James Mulwana has been laid to rest at his country home at Masiba, along Hoima road.
Mulwana passed away yesterday after complaining of stomach complications.
Several people from all political divide, the business community as well as religious convened at the deceased home to bid him farewell.
Speaking at the funeral, President Museveni hailed the deceased, whom he referred to as a personal friend for being patriotic.
He challenged other Ugandans fleeing the country, hoping for opportunities abroad to learn from the life of the deceased, who developed himself together with his country.
Museveni appealed to Ugandan industrialists to emulate the late Mulwana and consider improving the lives of fellow countrymen who may not be as well off.
Mulwana is survived by a widow and three children and died at the age of 77.