[1] In July 2015, he was reported by Forbes to be one of the richest Ugandans with a net worth of USD$200 Million but run bankrupt in April 2023 after liquidation of his company AYA investments Uganda Ltd started resulting from failure to clear accumulated debts from creditors, suppliers, utility bills and government taxes.

In 1987, he traveled to Uganda for the first time to visit his elder brother, Mohammed El Hamid, who operated a commodity trading business called Pan Afric Impex.

In 1997, he bought a 15 acres (6.1 ha) piece of land in Kawempe, a suburb of Kampala, where he relocated the machinery and started milling wheat.

[6] One of his companies, Aya Investments, is the developer of the Pearl of Africa Hotel, launched in 2017 by President Yoweri Museveni.

[7] In April 2023, despite the pandemic which had effected most entrepreneurs world wide, Hamid successfully managed to overcome this challenge and has officially become 4th richest (according to multiple sites) in Uganda from 2022.