Tycoon Sudhir Ruparelia has dismissed claims that his education facility Kampala Parents is being sold.
Instead he assured parents that his financial woes will not affect the school.
Some individuals were peddling rumours that government had moved to attach the Naguru based school after DFCU took over his multibillion Crane Bank.
The money magnet made the assurance during a meeting with parents at the school in Kampala on Friday afternoon.
Some parents said they had been informed that the school was sold.
Sudhir was displeased by the parents’ reliance on social media rumours, warning, “Social media doesn’t run the school. The management does.”
He said parents and other stakeholders must “stop listening and fuelling the rumours.”
There was a disagreement between a parent who tried drawing a connection between the school’s performance and the alleged low motivation of teachers.
Sudhir reacted angrily towards the parent’s comments, attracting a heated reaction from the audience.
Calm was restored moments later with Sudhir emphasizing that Kampala Parents is being run independently.
“It will go on for many years to come; parents should not be alarmed,” he assured.
Both parents and management discussed improvement of grades, motivation of staff and active participation of parents in running the school affairs.