The Supreme Court on Friday dismissed, with costs to the respondents, an appeal by Bank of Uganda against businessman Dr. Sudhir Ruparelia and Meera Investments, the real estate arm of the Ruparelia Group, bringing to end a five year litigation battle between the businessman and the central bank.

The five justices of Supreme Court including Rubby Opio Aweri, Percy Tuhaise, Ezekiel Muhanguzi,Prof. Tibatemwa Ekirikubinza and Faith Mwondha also ordered that the management of Crane Bank (in receivership) be returned to its shareholders, the original owners.

Now, in an interview with Spy Uganda, a local online news website, Dr. Sudhir Ruparelia has lamented that Bank of Uganda actions to close Crane Bank and allegation of mismanaging the bank he founded injured his reputation as a businessman.

"I made heavy losses because of Bank of Uganda. My reputation as a businessman was destroyed. I have never failed any business. Bank of Uganda killed my career when they said I had failed my own business, Crane Bank. That has a bearing especially with my business partners,"

He added: "I told you from the beginning that Bank of Uganda stole my bank. I thank the judiciary for not shielding such dubious games. They have to pay costs of the suit right from the commercial court to the Supreme Court,"

When Dr. Sudhir Ruparelia lost Crane Bank over alleged mismanagement, by law, it meant that he cannot open or directly run another financial institution. In fact, because of that, he also lost his forex bureaus.  This, he says, is not good for his name and business.

The tourism sector is slowly coming back to life after the COVID19 pandemic brought all travel plans to a halt. But as people continue to live with the virus, travel enthusiasts are back on the road going places.

In Uganda, the tourism fraternity is opening up with caution – the hotels and national parks have been opened and functioning as by the set Standard Operating Procedures (SOPs) and other health guidelines.

After close to seven months of no major travel, businessman Sudhir Ruparelia took time off and travel to the North Eastern part of the country with his family. The destination was Kidepo Valley National Park.

Ruparelia, arguably the richest man in Uganda and a tourism enthusiast and conservationist, according to Africa Tembelea, conducted on a game drive on arrival to the park, and within about twenty minutes his family spotted a lion. Also spotted giraffes, kobs, zebras and other wild birds and animals.

“Can you imagine within 20 minutes of landing we are actually able to see a lion! This is Kidepo National Game Park for you, it’s my second time here,” Sudhir said. Dr. Ruparelia called on all those who have not visited this amazing park to do so if there is an opportunity.

“It’s a place that one needs to visit from wherever you are in the world-Kidepo Valley National Park, Uganda, truly the Pearl of Africa,” he said.

Gazetted in 1962, Kidepo Valley National Park tucked in the corner of Uganda’s border with South Sudan and Kenya is truly one of Uganda’s spectacular parks. It is an area of classic beauty with vast and myriad herds of wildlife roaming freely through untamed nature.

Businessman Dr. Sudhir Ruparelia, the chairman of Ruparelia Group which owns Speke Group of Hotels, has told CEO East Africa Magazine that they will be closing down Speke Resort and Conference Centre and Munyonyo Commonwealth Resort due to the effects coronavirus disease (COVID19) has had on the economy, particularly the tourism sector.

The closure of the two five-star hotels in Munyonyo takes effect on Friday 27^th March 2020 to until when COVID19 has been thoroughly dealt with.  The businessman said other hotels like Forest Cottages in Naguru and Dolphin Suites in Bugolobi will subsequently follow. Kabira Country Club will partly be closed. 

"It is really bad. We have decided to close Speke Resort and the Commonwealth Resort. We will reopen once corona issue I sorted out. For the others like Kabira Country Club, only a small section will remain open," Sudhir told the CEO in a phone interview.

Under the Speke Group of Hotels, Ruparelia Group boasts of the largest and wealthiest chain of hotels, restaurants and apartments in the country. The group also owns Speke Hotel, Rock Bar & Grill, Speke Apartments Wampewo, Speke Apartments Kitante, La Cabana Restaurant, among others.

The Group recently launched the construction of a five-star Speke Resort and Convention Center in Entebbe.

Lost Jobs

The businessman also revealed that about 3000 workers will at this moment lose their employment. Already, 1000 of the 3000 have been relieved of their duties and another 2000 will follow. Group employees 8000 workers in its hotels' chain.

Already, Ruparelia Group has felt the pangs of COVID19 after they were forced to close Kampala Parents School, Kampala International School Uganda and Victoria University following a presidential directive for the country to close all schools.

Many teachers, administrators, services providers were put out of employment until the situation normalizes.

Impact of COVID19

Uganda, as of 26^th March 2020, had confirmed 14 cases with no death but a global death toll of more than 10, 000 people had been recorded. Many countries had issued travel bans to their citizens dealing a big blow to the global economy.

In Uganda, President Yoweri Museveni issued a directive that no passenger flight should be allowed in the country or to leave. He also issued a ban on public transport as the country slowly shuts down in an effort to combat COVID19.