Published on 17/10/2024
In 1985, a young Dr. Sudhir Ruparelia returned to Uganda with a modest $25,000 in hand, after years of doing various odd jobs in the United Kingdom where he fled with his parents in 1972 to seek asylum at the age of 16, when then Ugandan president Idi Amin Dada expelled all Asians from Uganda.
Little did he know that this humble $25,000 would be the seed capital for what would eventually become one of Uganda’s largest and most influential business empires—Ruparelia Group.
Driven by an entrepreneurial spirit and a vision for the future, Dr Sudhir set out his mind on creating a business empire that spans multiple industries, from real estate to banking, education, floriculture, and hospitality.
The foundation of Ruparelia Group was laid with Dr Sudhir’s initial push into the foreign exchange business.
Recognizing the opportunities in Uganda’s growing economy, Dr Sudhir launched Crane Forex Bureau which quickly grew to become one of the largest in the country.
This success opened doors for Sudhir to diversify his interests and he gradually expanded into banking, establishing Crane Bank in 1995.
Over the years, Crane Bank grew into one of the most prominent financial institutions in Uganda, providing critical services to businesses and individuals and playing a pivotal role in Uganda’s economic development.
Beyond banking, Sudhir Ruparelia ventured into the real estate sector, a move that would become a defining pillar of Ruparelia Group’s success story.
Through strategic investments, the group became one of Uganda’s largest property owners, with flagship developments and various residential estates in prime locations around Kampala.
These properties not only helped transform the city’s skyline but also contributed to meeting the growing demand for commercial and residential spaces in Kampala.
One of the distinguishing features of Ruparelia Group is its impact on education. Dr. Sudhir invested heavily in the education sector, founding institutions such as Kampala Parents School, Kampala International School Uganda (KISU), and later Victoria University.
These institutions have set a new standard for international education in Uganda, offering students access to world-class facilities and curriculum. Through his investments in education, Sudhir has helped shape the future of Uganda by equipping young people with hands-on skills and knowledge needed for Uganda’s job market as well as socio-economic transformation.
Furthermore, Dr Sudhir also ventured into the floriculture business with Rosebud Ltd which has become one of Uganda’s largest exporters of flowers, contributing significantly to the country’s agricultural export revenue.
Additionally, Ruparelia Group has a strong presence in the hospitality sector with properties like Speke Resort Munyonyo, Speke Resort Munyonyo Convention Centre, Kabira Country Club, Speke Hotel/Apartments among others both of which have become premier destinations for tourists and business travellers further boosting Uganda’s tourism industry.
From its humble beginnings in the foreign exchange business to becoming a multi-industry conglomerate, Ruparelia group has played a crucial role in shaping Uganda’s economy.
With thousands of Ugandans employed across its various businesses and a lasting impact on sectors ranging from education to real estate, Dr. Sudhir’s legacy as one of Uganda’s foremost business leaders is firmly cemented.
But Who Is Dr Sudhir Ruparelia, The Humble Man Behind The Success Of Ruparelia Group
Ruparelia was born on January 17 1956 in Kabatoro, Kasese District in the Western Region of Uganda to an upper-middle-class Indian Gujarati family.
His great-grandfather reached Mombasa, Kenya in 1897 from India and set up a trading store there before coming to Uganda in 1903. His grandfather was born in Uganda in 1908 and his father in 1932.
Ruparelia attended Bat Valley Primary School in Kampala, from P1 to P6, then Jinja Main Street Primary School in Jinja for P7 and Jinja Secondary School.
In 1971, he joined Kololo Senior Secondary School. Ruparelia fled to the United Kingdom with his parents in 1972 at the age of 16, when then Ugandan president Idi Amin expelled all Asians from Uganda.
Ruparelia returned to Uganda in 1985, with US$25,000 earned from several casual jobs including working in supermarkets, factories, and butcheries.
Ruparelia started selling beer and spirits imported from Kenya. In 1989, beer importation was banned to encourage local brewing of alcohol and he realized he could not make beer.
But since his customers, who were mainly foreigners, paid him in foreign currency, he started Crane Forex Bureau, the first in Uganda. With his profits, Ruparelia ventured into other businesses, including forming Crane Bank in 1995. Later, he organized his businesses under the umbrella, Ruparelia Group.
In 2007, Ruparelia was awarded an honorary Doctor of Laws degree in business, by the Uganda Pentecostal University, in recognition of his contribution to Uganda’s economic growth
As chairman and majority shareholder of the Ruparelia Group, he has become a leading figure in banking, insurance, education, broadcasting, real estate, floriculture, hotels, and resorts.
In February 2020, Ruparelia was appointed honorary consul of the Republic of Nepal to Uganda by Nepal’s President Bidhya Devi Bhandari. He presented his credentials to Uganda’s then Foreign Minister Sam Kutesa on March 17, 2020, and reports to the nearest substantive Nepalese embassy in Cairo, Egypt.
Together with his wife Jyostna Ruparelia, they have three children, Rajiv Ruparelia, Meera Ruparelia and Sheena Ruparelia.
Ruparelia is among the top taxpayers in Uganda, according to URA and employs over 10000 people directly and indirectly.
According to Forbes in 2019, Ruparelia was the wealthiest individual in Uganda, with an estimated net worth of US$1.2 billion.
