The first advertiser was City Businessman Sudhir Ruparelia,
the chairman and largest stakeholder of the Ruparelia Group's firms with stakes
in banking, insurance, education, broadcasting, real estate, floriculture,
hotels, and resorts.
The inaugural issue of the journal was released on July 31,
1992, with an advertisement for Redfox Bureau De Change, owned by businessman
Sudhir Ruparelia, on the front page. Sudhir is now one of the company's top
marketers, 30 years later.
Sudhir, possibly Uganda's richest businessman with over $1
billion in assets, spoke with Monitor's Edgar Batte about his 30-year
association with the journal and why he picked the newspaper as his top
advertising partner throughout the years. The whole interview script is
provided here.
You were one of the Daily Monitor's original advertisers,
with a Red Fox Bureau advertisement in the publication. Who contacted you about
running the advertisement?
Mr Wafula Oguttu contacted me about placing an ad in The
Monitor. I met him while he was still at the Weekly Topic, which was socialist
and anti-government, but provided a balanced viewpoint.
Wafula was a well-known journalist. When he wrote anything,
it had an effect. When he contacted me, he said they wanted to start a
newspaper. Along with him were well-known journalists like as Kevin Ogen Aliro,
Charles Onyango Obbo, Teddy Seezi Cheeye, and, I believe, Andrew Mwenda.
I recognised promise in them, which is why I bought for
advertising space a year in advance in one lump sum. At the time, I assisted
them in setting up and launching The Monitor.
I am and have been one of the largest marketers in my industry, so seeing my advertisement in the first newspaper was exciting. Because this was a media platform, I wasn't sure what kind of influence it would have. I knew it would take time for everyone to embrace it, and once they did, the founders would get a brand following, so it was a matter of waiting and seeing.
New Vision is a government-owned media outlet, so it
officially has backing, but The Monitor had the potential for long-term viability.
Their affiliation with Nation Media Group aided in its survival.
We saw promise since advertising was inexpensive 30 years
ago and profit margins were much higher. We may promote ourselves in the
expanding market. Online has been more important and successful in recent
years.
Every other person has a laptop, digital phone, or iPad, and
a huge number of people under 25 implies that every educated young person has
access to social media. As consumers, they are a significant market force.
My connection with Daily Monitor is that there is always a
good and negative story, so I take anything with a grain of salt, but overall,
we have a very excellent working relationship with Daily Monitor and our first
focus when advertising is with Daily Monitor.
I've been an advertiser with Daily Monitor for a long time
since its reports are effective and impartial.
Journalists will always have an important place in our
culture. They are the sole source that balances news from the government and
private individuals and keeps the public, the wanainchi, informed.
I'd like to congratulate the Daily Monitor on its 30th
anniversary. Please keep the same spirit and flourish and succeed. Because the
economy is expanding, we will all benefit from its success.
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