By Spy Uganda
Kampala: East Africa’s most recognized heavily loaded tycoon and Ugandan business magnate and investor Dr.Sudhir Ruparelia has offered a free lecturer to those eyeing the business industry pointing them at the risks of unnecessary borrowings.
Sudhir is the chairman of the majority shareholders in the companies of the Ruparelia Group and his investments are mainly in the areas of banking, insurance, education, broadcasting, real estate, floriculture, hotels, and resorts.
According to him, no need for one to rush for borrowings because he/she needs to expand the capital, he advises that one should get satisfied with the little profits he/she generates and use that capital wisely to fund other projects.
The mogul who shared his thoughts with www.billionairetomorrow.com says; “Do not expand very quickly, outside your means, allow some form of organic growth. So long as you have a good amount of cash flow coming in, you need to first focus on projects which you can fund.”
In fact, the rich man who started up his life from several casual jobs including working in supermarkets, factories, and butcheries emphasizes thus;
“Avoid borrowing if you can, first, try and grow according to the cash flow you have and are creating. It is probably the best option. Because the truth is said, opportunities come all the time, especially when you have good cash flow. Take those opportunities.”
One might think the above tactics are one of the boosters that have pushed Sudhir to be at the desirable wealthy stage where every Ugandan yearns to reach.
The Genesis Of His Wealthy Life
He was born in Uganda but fled to the United Kingdom with his parents in 1972 at the age of 16 when the dictator Idi Amin expelled all Asians from Uganda.
He 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 of the Ruparelia Group.
According to Forbes in 2019, he was the wealthiest individual in Uganda, with an estimated net worth of US$1.2 billion.