Lotis Towers undergo name change as Ugandan multimillionaire assumes ownership
The name change to “Arie Towers” reflects Ruparelia’s vision to reposition the building as a hub for business and commerce.
Ugandan billionaire
East Africa’s first billionaire Sudhir Ruparelia buys Lotis Towers from dfcu Bank
The acquisition of Lotis Towers, a 14-storied upscale building located at plot 16 MacKinnon Road, Nakasero, was confirmed by Sudhir Ruparelia himself following a bank auction.
Ugandan gov’t moves to bail tycoon Patrick Bitature by acquiring his $66-million thermal power plant
Bitature sought government assistance after being embroiled in a court battle with a South African lender over a loan repayment.
Ugandan multimillionaire Mohammed Hamid faces loss of five-star hotel over $160-million debt
Hamid is the founder of Aya Group, which has interests in milling, food manufacturing, commodity trading and hospitality.