# Sudhir Ruparelia Ventures into Retail: Former Crane Bank Property Transformed into Supermarket Chain
Kampala* In a bold diversification move that underscores his unyielding entrepreneurial spirit, Uganda’s wealthiest businessman, Dr. Sudhir Ruparelia, seems to have begun repurposing a former Crane Bank branch into a supermarket under the new brand Crane Shoppers Ltd.
Social media images circulating this week show workers renovating the iconic red-and-white building, complete with fresh signage proclaiming “Crane Shoppers Ltd,” signaling the tycoon’s entry into the competitive retail sector.
Ruparelia, 69, whose net worth is estimated at US$1.2 billion as of 2023, has long been synonymous with real estate, hospitality, and finance through his Ruparelia Group.
Born in Kabatoro, Kasese District, Ruparelia fled Uganda in 1972 amid Idi Amin’s expulsion of Asians, working odd jobs—including in UK supermarkets—to save US$25,000 before returning in 1985. He kickstarted his empire by importing beer and spirits, then founded Crane Forex Bureau in 1989, Uganda’s first licensed forex operation, which evolved into Crane Bank in 1995 with an initial US$1 million investment.
The Crane Bank saga, however, has been a tumultuous chapter. In October 2016, the Bank of Uganda (BoU) seized the lender citing undercapitalization, selling it to dfcu Bank in 2017 for UShs 200 billion (about US$53 million). Ruparelia contested the move, alleging unfair asset seizure. His persistence paid off in July 2022 when Uganda’s Supreme Court ruled in his favor, ordering Crane Bank’s return and criticizing BoU’s handling as fraudulent, while mandating cost reimbursements to Ruparelia.
Ongoing battles in UK courts, including a July 2025 ruling exposing flaws in dfcu’s takeover, continue to vindicate him, with recent decisions rejecting disputed PwC audit reports central to the case.
Now, with properties reclaimed amid legal victories, Ruparelia is pivoting to retail—a sector booming in Uganda since Carrefour’s 2021 entry.
The supermarket conversion, spotted near a TotalEnergies station in what appears to be a bustling urban area, features modern facades and scaffolding for interior upgrades. Industry observers speculate this could mark the start of a chain, leveraging Ruparelia’s vast real estate holdings to challenge the space where players like Shoprite and Nakumatt failed to flourish.
“This restructuring exemplifies Ruparelia’s shrewdness,” noted business analyst Jane Nambi. “From forex pioneer to hospitality mogul with assets like Speke Resort Munyonyo, he’s always adapted. Retail could create hundreds of jobs and boost local economies, especially post-COVID supply chain shifts.”
Ruparelia’s group already spans education (Kabojja International School), broadcasting (Sanyu FM), and floriculture (Premier Roses), but retail represents a consumer-facing leap. Sources close to Ruparelia say it’s a strategic repurposing of idle assets to generate revenue while legal fights persist.
Forbes Africa’s 2025 Billionaires List reaffirms Ruparelia as Uganda’s richest, despite setbacks, highlighting his resilience. As Uganda’s retail market grows—projected to hit US$2 billion by 2027—this venture could solidify his dominance. Watchdog Uganda will monitor developments, including potential expansions and economic impacts.
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