Billionaire Ugandan businessman, Dr. Sudhir Ruparelia who has made a USD1 billion fortune investing in Uganda since the 1980s, will be a keynote speaker at this year’s, 14th UK-Uganda Annual Trade Investment Summit, 2024.
He will be speaking about how to unlock the various business opportunities in Uganda and how to unlock them.
This year’s event shall take place on the 6th of September 2024 at The Mayfair Hotel, London under the theme: “Accelerating Growth Through Partnerships for Global Market Expansion in East Africa”.
Other notable speakers from Uganda include Hon Matia Kasaija, Minister of Finance, Planning and Economic Development, together with the State Minister for Privatisation and Investment, Hon. Evelyn Anite and the Finance Ministry Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi.
Hon Frank Tumwebaze, the Minister of Agriculture Animal Industry and Fisheries as well as Hon. Ruth Nankabirwa, the Minister of Energy and Mineral Development will also be speaking.
Other expected delegates from Uganda, include Hon. Betty Amongi, the Minister for Gender, Labour and Social Development; Hon. Persis Namuganza, the Minister of Housing and Urban Development; Col. Edith Nakalema, Head of State House Investors Protection Unit; Robert Mukiza, the Director General, Uganda Investment Authority; Maj. Gen Kasiita Gowa, the Director of the Citizenship and Immigration Control as well as Humphrey Nzeyi and Sarah Kagingo, the Chairman and Vice Chairperson respectively, of the Private Sector Foundation Uganda (PSFU).
Established in 2010 as the “Uganda-UK Convention” has evolved into the leading UK-Uganda trade promotion event. Initially focused on Uganda, it has since expanded to focus on the larger East African region.
The convention, among other things, shall feature industry experts sharing insights into the African trade ecosystem, presentations on bankable investment opportunities, business networking, 1-on-1 meetings as well as buyer-seller match-making: the Buyer-Seller side hub facilitates direct contact between exhibitors, sponsors and delegates and buyers from Uganda, India and UK markets through prescheduled meetings.
According to the organisers, the convention’s main objectives are to create awareness, support, promote and encourage trade and investment from the private sector between Uganda and the East Africa region in general and the United Kingdom. It also aims to create a platform to facilitate and access trade opportunities for the private and public sectors in Uganda and the UK.
“Our mission is to bring together Ugandans in the diaspora, experts, business leaders, professionals and representatives from prominent organisations based in Uganda, the UK and beyond and explore opportunities in Uganda,” the organisers say of their mission.
The latest UK-Uganda trade figures released in June 2024 show that the total trade in goods and services (exports plus imports) between the UK and Uganda was £307 million (UGX1.5 trillion) in the four quarters to the end of Q4 2023, a decrease of 26.2%.
Of this £307 million, total UK exports to Uganda amounted to £215 million (UGX1 trillion)- a decrease of 35.4% compared to the four quarters to the end of Q4 2022 while total UK imports from Uganda amounted to £92 million (UGX439 billion), an increase of 10.8% in the same period the previous year.
Uganda was the UK’s 122nd largest trading partner in the four quarters to the end of Q4 2023 accounting for less than 0.1% of total UK trade.
In 2021, the outward stock of foreign direct investment (FDI) from the UK in Uganda was £27 million (UGX129 billion).
Who is Dr. Sudhir Ruparelia?
Dr Sudhir Ruparelia is the founder and Chairman of the Ruparelia Group, one of Uganda’s largest business conglomerates with investments in financial services, real estate, education services, hospitality, agriculture and media/broadcasting amongst other sectors.
A self-made billionaire entrepreneur, he was born in Uganda in 1956. In 1972 together with his parents, he relocated to the United Kingdom, following the then President Idi Amin Dada’s expulsion of Asians from Uganda.
While in the UK, he did various menial jobs and after completing high school, he worked at various companies in various capacities before returning to Uganda in 1985.
With savings of just USD25,000, he together with his wife and through a series of greenfield investments, acquisitions, joint ventures and expansions have built the Ruparelia Group into an over USD1 billion conglomerate.
To date, the group is a major investor, employer and taxpayer employing directly over 8,000 employees, many of whom are women. Through the Ruparelia Foundation, group businesses are regular and substantial supporters of various corporate social activities in sports, healthcare, arts and culture, heritage and religion, environmental and wildlife conservation, agricultural research, education and talent development.
Individually and as a family, Dr Sudhir Ruparelia also participates in many philanthropic endeavours to alleviate poverty and hardship amongst disadvantaged members of Ugandan communities.