Uganda’s wealthiest businessman and Chairman of the Ruparelia Group of Companies, H.E. Dr. Sudhir Ruparelia, has been honored with a Lifetime Achievement Award in recognition of his exceptional business achievements and his significant contributions to job creation.
Dr. Sudhir, who also serves as the Nepalese Consul to Uganda, received the award at the 10th anniversary celebration of the Indian Business Forum in Kampala over the weekend. The event, which brought together entrepreneurs, investors, and policymakers, focused on discussing business growth and economic transformation in Uganda.
Thomas Tayebwa, the Deputy Speaker of Parliament, who officiated at the event, praised Dr. Sudhir and the Indian business community for their invaluable role in driving Uganda’s economic development.
He highlighted their resilience and innovative spirit, which have played a vital part in the country’s progress.
Tayebwa further noted the importance of foreign investment in job creation and praised Indian investors for reinvesting in Uganda instead of repatriating profits as happens in some other countries.
In his acceptance speech, Dr Sudhir expressed gratitude to the organisers for acknowledging his efforts in shaping the country’s business landscape.
He also used the opportunity to extend his deepest condolences to Uganda and the world on the passing of Aga Khan, the spiritual leader of the Ismaili Muslim community, who had significant business investments in Uganda, Africa, and globally.
A Legacy of Indian Entrepreneurship in Uganda
The Indian community has played a pivotal role in Uganda’s economic progress. Today, businesses owned by Indian entrepreneurs contribute nearly 65% of Uganda’s tax revenue, demonstrating their massive impact on the country’s GDP.
Additionally, while the Indian community makes up about 1% of Uganda’s population, it dominates key sectors such as manufacturing, trade, and finance.
Historically, Indians first arrived in East Africa in the late 19th century, primarily as labourers for the construction of the Uganda Railway. Over time, they established thriving businesses, shaping the region’s economic landscape, especially in Uganda, Kenya, and Tanzania.
Key Investments That Earned Dr. Sudhir the Award
Dr Sudhir’s remarkable success stems from his vast business empire, which spans multiple sectors and has significantly shaped Uganda’s economy. His Ruparelia Group boasts investments in:
- Real Estate: spearheaded by Meera Investments, one of Uganda’s largest property development firms, owning prime commercial and residential properties.
- Banking & Finance: Former owner of Crane Bank, once among Uganda’s leading commercial banks.
- Education: Founder of institutions such as Delhi Public School International and Kampala Parents’ School, offering top-tier education.
- Hospitality: Owner of prestigious hotels such as Speke Resort Munyonyo, Kabira Country Club, and Speke Hotel, which have redefined Uganda’s tourism and hospitality industry.
- Media & Entertainment: Involved in leisure and entertainment through Speke Apartments and Sanyu FM, Uganda’s first private radio station.
- Agriculture: Invested in rose farming for export through Premier Roses.
About the Indian Business Forum
The Indian Business Forum (IBF) is an umbrella body that brings together Indian entrepreneurs and investors operating in Uganda. Established to strengthen business ties between Uganda and the Indian community, IBF works closely with the Ugandan government and private sector to promote investment, trade, and economic growth.
The forum plays a crucial role in advocating for business-friendly policies, facilitating networking opportunities, and fostering collaborations between Indian and Ugandan enterprises. Over the years, IBF has helped attract significant foreign direct investment and has been instrumental in sectors such as manufacturing, healthcare, education, and real estate.