Kampala, Uganda: Business magnate Dr. Sudhir Ruparelia has repurposed one of his former Crane Bank properties into a supermarket under a new retail brand, Crane Shoppers Ltd, marking a bold diversification move into Uganda’s fast-growing consumer market.
Images circulating on social media this week show the once-iconic red-and-white Crane Bank building undergoing renovation, now bearing fresh signage for Crane Shoppers Ltd. The development signals Ruparelia’s official entry into the competitive retail sector, dominated by foreign chains such as Carrefour.
Ruparelia, 69, whose net worth Forbes Africa estimates at US$1.2 billion, has built his reputation across real estate, hospitality, education, and finance through the Ruparelia Group. But his pivot into retail marks a new chapter in an empire that has weathered both spectacular growth and prolonged legal battles.
From Crane Bank to Crane Shoppers
Crane Bank, founded in 1995 with just US$1 million, was seized by the Bank of Uganda (BoU) in 2016 and controversially sold to dfcu Bank. Ruparelia contested the takeover, and in 2022, the Supreme Court of Uganda ruled in his favor, citing fraudulent handling by the regulator and ordering compensation.
Legal challenges have continued abroad, with UK courts recently discrediting audit reports that underpinned dfcu’s acquisition. The supermarket conversion comes as Ruparelia reclaims properties tied to the Crane Bank saga, repositioning them for fresh revenue streams.
The new outlet, located near a TotalEnergies station in a busy Kampala suburb, features modern facades and scaffolding for interior upgrades. Analysts suggest this could be the first in a chain of supermarkets, leveraging Ruparelia’s expansive real estate portfolio to establish a local competitor in a market where regional players like Shoprite and Nakumatt failed.
“This restructuring exemplifies Ruparelia’s shrewdness,” said one business analyst, Jane Nambi. “From forex to finance, hospitality, and now retail, he has consistently adapted. Retail will not only expand his empire but also create hundreds of jobs in urban centers.”
With Uganda’s retail market projected to hit US$2 billion by 2027, Ruparelia’s entry positions Crane Shoppers as a potential disruptor, offering a homegrown alternative to global chains.
An Empire in Motion
Beyond banking and retail, Ruparelia’s group spans education (Kampala Parents School, Kampala International School Uganda, Delhi Public School Uganda), media (Sanyu FM), floriculture (Premier Roses), and hospitality (Speke Resort Munyonyo, Kabira Country Club, Forest Cottages, Speke Apartments, Speke Hotel Kampala, Tagore Apartments, Bukoto Living, Tagore Living, among others).
And now industry insiders say his new retail arm reflects a strategy of repurposing idle assets while litigation against dfcu and BoU continues. “Sudhir has always shown resilience, turning setbacks into opportunities,” noted one source close to the tycoon. “Retail could be his next frontier.”
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