Tanzania is one of the largest countries in East Africa with a boisterous private sector, and a thriving agricultural sector to be precise. These conditions have created some of the wealthiest people on the continent. Here are the top 10 richest Tanzanian men.
Richest Men in Tanzania
1. Mohammed Dewji
Born 1975, Mohammed Dewji is the CEO of Mohammed Enterprise Tanzania Limited. He is the youngest billionaire in all over Africa. He owns the 75% stakes of this company, which was founded by his father. He also owns many more Government oriented manufacturing plants such as edible oils and textile industries.
His actual net worth is near about $1.9 Billion USD or TSH 3.4 trillion. He was recognized as the richest businessman according to Forbes. Interestingly, Dewji served as a Member of Parliament for the country’s ruling party for a decade until 2015.
2. Rostam Azizi
Rotzam has been a familiar personality on the top 10 richest people in Tanzania. Born in 1960, and now 60 years old, he was the first person to earn the billionaire status in the country. Azizi has invested in telecommunications, real estate, mining, and many other sectors.
The actual net worth of Mr. Azizi is $1 Billion USD or TSH 2.3 trillion, and he is also the owner of Caspian Mining; one of the largest mining companies in Tanzania.
3. Said Salim Bakhresa
Born in the year 1949, Said is the owner and founder of famous Bakhresa Group in Tanzania. This famous group has given birth to many well-known companies in Tanzania. He is a self-made millionaire of Tanzania, who also launched Azam TV.
The Bakhresa Group is active in food processing, sea freight business, and petroleum, investing in all these regions in only thirty years. His company has gone beyond Tanzania’s boundaries to Uganda, Malawi, and Mozambique. Bakhresa has an estimated net worth of TSH. 1.3 trillion or 575 million USD.
4. Reginald Mengi
Reginald is a media tycoon, owning one of the largest media firms in Africa. His company, IPP Media Group, has several investments. It combines 11 radio stations, internet facilities, television stations and the newspaper industry as well.
His actual net worth is near about $560 Million USD or TSH 1.2 trillion. He also owns the company Kilimanjaro Water; is one of the largest brands of sealed bottles water in Tanzania. Mr. Mengi also mines gold, copper and uranium.
5. Ally Awadh
It is without a doubt that Ally Awadh is intellectually endowed in the business sector. Barely forty years has old; this phenomenal entrepreneur has already built a billion-dollar oil firm in Tanzania. Ally came up with this business after being intensively involved in oil trading and services. Ally’s revenue is pegged at wellover TSH 2.3 trillion.
6. Shekhar Kanabar
At just 35 years of old, Shekhar is the CEO of Synarge Group. This company is into the manufacturing business including battery recycling and automotive spare parts. Although the group is family-owned, Shekrah has made strategic business moves that have given home high earnings over time.
7. Shubash Patel
Shubash is the great mind behind the Motisum Group. In only two decades, Mr. Patel transformed a simple company that only concentrated on the rolling mill business into a multifaceted firm. Today, his firm has 15 subdivisions with stakes in real estate, food processing, mining and others.
8. Fida Hussein Rashid
Fida Hussein businesses are predominant in the automobile industry. He is renowned for creating the first notable firm in Tanzania that handles second-hand automobiles. Fida also has excellent investments in real estate.
Some of his properties include Raha and Zahra Towers. His company, Africarriers, has the sole distribution rights for brands such as Eicher and Golden Dragon.
9. Yusuf Manji
He is also a popular name in the real estate business. He is the owner and founder of Quality Group of Companies. He also invests in the automotive industry of Tanzania and is the chairman of Young African SC – a successful football club in Tanzania.
10. Salim Turkey
A well-established businessperson with investments in cement manufacturing, real estate and hospitals, Salim who is also a member of the Tanzanian Parliament is a business mogul with extensive political experience.
Salim manages all his business under the Zanzibar-based Turkys Group that he created in the eighties. Today, out of his continuous investments, Salim is a member of the billionaires club of Tanzania.
So there you have it! Tanzania’s ten wealthiest.