KAMPALA – In a significant strategic shift, renowned businessman and property magnate Sudhir Ruparelia is officially venturing into the retail sector, marking a new chapter for his business empire after a protracted fallout with the government nearly a decade ago.
The move, dubbed by observers as “Plan B,” was signaled by ongoing renovations and fresh signage at several of his prominent buildings across the city. The new signage proudly proclaims “Crane Shoppers Ltd,” a clear indication that the tycoon is leveraging his well-known “Crane” brand to launch a new venture in the competitive retail market.
This pivot follows the dramatic events of 2016 that led to the collapse of Sudhir’s financial services empire. The government, then led by the Bank of Uganda, ordered the closure of his prized Crane Bank Limited, once lauded as one of the country’s top indigenous financial institutions. His Crane Forex Bureau was also shut down in the crackdown.
According to high-level sources, the drastic action was precipitated by security briefings presented to Statehouse. The briefings alleged that Mr. Ruparelia had allowed opposition figures, specifically Dr. Kizza Besigye and former Prime Minister Amama Mbabazi, to use his bank to clandestinely funnel money intended to fund their presidential campaigns. This activity was characterized as a direct threat to the elected government of President Yoweri Kaguta Museveni.
The closure of his financial businesses was a massive blow to the tycoon’s portfolio, forcing a period of strategic retreat and recalibration. While he retained his vast real estate holdings—many of which formerly housed Crane Bank branches—the directive effectively barred him from the financial sector.
The emergence of Crane Shoppers Ltd is therefore seen as a calculated and resilient response. By repurposing his prime properties and capitalizing on the strong public recognition of the Crane brand, Sudhir is attempting to rebuild a commercial powerhouse outside the sphere of finance.
The business community is now watching closely to see how the established tycoon will fare in the bustling retail landscape, a sector markedly different from the high-finance world where he first made his name. The launch of Crane Shoppers Ltd is not just the opening of new stores; it is the rebirth of a brand and a testament to a businessman adapting to a radically changed environment.
