April 4, 2014

Forbes Names Sudhir Richest Man In East Africa

Tycoon Sudhir Ruparelia
Tycoon Sudhir Ruparelia

Uganda’s Sudhir Ruparelia has been named the richest man in East Africa by American magazine Forbes,  a leading source for reliable business news and financial information.

Sudhir Ruparelia, East Africa’s richest man, is new to the Forbes World’s Billionaires list this year.

He is the founder of the Ruparelia Group, Uganda’s largest conglomerate, with interests in property, banking, education, insurance and agriculture.

It owns a chain of hotels, hundreds of commercial and residential properties in Kampala, a country club, a chain of foreign exchange bureaus, two secondary schools and Crane Bank, one of Uganda’s top three commercial banks.

In 2013 he acquired Uganda’s Victoria University, promising to invest $10 million in the next few years to make it one of East Africa’s finest.

He was born in Uganda but moved to the United Kingdom with his parents at age 16 after President Idi Amin expelled all Asians in 1972.

He worked small jobs in the U.K. and returned to Uganda in 1985 with $25,000 in savings. He started a commodities trading business and foreign exchange bureaus. His son and daughter, Rajiv and Meera occupy senior positions in his company.

12 thoughts on “Forbes Names Sudhir Richest Man In East Africa

  1. Am I not surprised that a man who was living with his parents on benefits in a council flat on a council estate in North London, came to Uganda shortly after the NRM took over power, and all of a sudden, he started buying complexes, building banks and owning multi billion dollar hotels. Hmmmmm, I personally smell a rat. I’ve heard Sudir’s story from rugs to riches, but it doesn’t add up, probably that’s why he never appears on forums like other business guru’s to give money making wisdom to those aspiring for richness.

  2. Kudos. Philanthropy and investing in your home country is patriotic, unlike useless thieves who steal and take that money out of the country.

    1. Yeah man. This business moghul or should I say front, steals from us and invests most of his loot here in our country. Bravo!

  3. @ Kasolo. His story is legit. They have already told you he came back with savings of 25000$ NOT 25000 SHILLINGS and started business. So there is nothing suspicious about that. read and analyse or think before you write.

    1. Are u sane or just academically inept ???? $25,000 ? U’re out of your mind. Do u know how many Ugandans had a lot more than that amount of money and were ten times more hard working than sudhir in the same year he returned to Uganda ? Why aren’t they as rich or even richer than him ? I understand people’s luck is different , but what a lucky man Sudhir is if indeed he’s trading on pure luck ! U better wake up and smell the coffee, lest u’ll always lag behind in the ability to think and analyse issues .

      1. ok so where are those so called ugandans who started with alot of money. And who says in the business you have to start with alot of money. its all about working smart and working hard which sudhir did. what luck did he have, he came with savings and used it wiseley unlike ugandans who just spend on cars that they cant even maintain, alcohol and again alcohol. Havent you heard the saying start from the bottom and you get there. so anyway i stand my ground. i know if sudhir gave you a job you would accept it.

        1. Cannan please don’t take this so personally. We all respect Mr Sudhir and yes he has made it in life beyond his wildest dreams, which is very good. However, the point we’re trying to put across, is that we’re not convinced that he has genuinely and legally accumulated so much wealth within such a short time. Otherwise, its good to see a Ugandan as the richest man in the East African region. About him offering me a job, hell no. I’ve never been employed by anyone and I’ll never be employed by anyone. I don’t even think any employer w’d remunerate me satisfactorily. But thanx for standing your ground against all odds

      2. wake up. if he is a billionaire. he would live elsewhere and have people managing the business for him. bt he depends on the NRM. that’s why./ besides he isn’t a billionaire

    2. oh! so you believe the shit?…well, it’s your right to do so and also the fact that no person has ever been burried with all the earthly wealth. I am saying it’s all nothing but totally wind. Inquire from King Solomon, who had more than your sudhir.

      1. Well all i can just say it is part of life. make billions, enjoy life and leave a mark on earth. thats all. the wealth will be past on to generations to generations. i see your point of view. Good one

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