An east-central African country that’s home to the region’s first billionaire (Image: Getty)
The words and billionaires are not often accompanied together but that is changing.
Affluent individuals have been on the rise and are now in the driving seat further propelling their economy to high growth levels.
One east-central Africa is home to its first billionaire and the 28th richest man in Africa despite once being a refugee.
Sudhir Ruparelia is Uganda’s richest person and according to , has a net worth of around £985.4 million ($1.2 billion) despite being a refugee living in the UK.
Ruparelia was born in Kabatoro, Kasese District in the Western Region of Uganda to an upper-middle-class Indian Gujarati family.
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Uganda is an east-central African country that’s home to the region’s first billionaire (Image: Getty)
He was only 16-years old when he and his family fled Uganda to the UK.
Ruparelia drove taxis while he attended college to gain his A-level education before returning home to Uganda in the 1980s.
In 1985, Ruparelia began selling imported spirits and beers and later founded Crane Forex Bureau in 1989 – the first in Uganda.
He later established Crane Bank which went on to win a number of Banker of the Year awards from the Financial Times in London.
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Ruparelia was awarded the Golden Jubilee Presidential Medal for his contribution to Uganda (Image: Getty)
Ruparelia is the head of the Ruparelia Group, which has interests in banking, education, real estate and hospitality.
Today, Ruparelia lives in a 130,000 sq metres home featuring a private drive, an ornate fountain and an infinity pool with spectacular views throughout.
Speaking to the , Ruparelia said: “I started my business from scratch with $25,000 and since then we have built up into seven different sectors of the business.
“We employ over 8,000 people in this country.”
Ruparelia was awarded an honorary Doctor of Laws degree in business by Uganda Pentecostal University.
He was also awarded a Golden Jubilee Presidential Medal by President Museveni in recognition of his contribution to the growth of business and industry in Uganda as an industrialist.
Ruparelia credits President Yoweri Museveni for bringing peace and stability to Uganda.
He said in a interview: “I have no fears about being in this country.
“I have invested most of my profits into this country and I feel people appreciate that.”