LIST OF RICHEST PEOPLE IN TANZANIA

The United Republic of Tanzania is located in East Africa. Tanzania’s economy is heavily based on agriculture. It accounts for more than 25 percent of GDP and around 85 percent of exports. Tanzania has minerals like gold, diamond, coal, uranium, iron, nickel, chromium, tin, platinum and others.

Tanzania has produced many rich people. Here is a brief overview of the top four richest people in Tanzania, according to Forbes.

4) Reginald Mengi – Net Worth: $560 Million

This self-made media mogul heads one of the largest media conglomerates in Africa. His IPP Media Group owns 11 newspapers, radio stations, TV stations and internet properties.

3) Said Salim Bakhresa – Net Worth: $575 Million

The 65-year-old self-made millionaire is a Tanzanian businessman. He launched Azam TV, a pay TV service for East Africa. He dropped out of school when he was 14 to sell potato mix and then opened a small restaurant and later moved into grain milling. In the last four decades, he has grown his $750 million (sales) Bakhresa Group into one of East Africa’s largest conglomerates, with more than 5,000 employees and interests in food and beverages, packaging, ferry services and petroleum trading.

2) Rostam Azizi – Net Worth $1 Billion

Rostam Azizi is the first billionaire from Tanzania. In May 2014, he sold a 17.2 percent stake in Vodacom Tanzania, the largest mobile phone operator in the nation. He also owns Caspian Mining, a contract mining company that provides mining services to giants like BHP Billiton and Barrick Gold. Caspian Mining also owns several mining concessions for gold, copper and Iron ore in Tanzania. Other assets include a stake in Dar es Salaam Port in which he is a partner with Hutchison Whampoa and extensive real estate in Tanzania, Dubai, Oman and Lebanon.

1) Mohammed Dewji – Net Worth: $1.3 Billion

This 40-year-old Tanzanian millionaire is the youngest among Africa’s 50 richest for the third year. He owns 75 percent of METL Group, one of Tanzania’s largest industrial conglomerates founded by his father. Mohammed Dewji turned a trading house into industrial conglomerate. He acquired government-owned manufacturing plants in the textiles and edible oils industries on the cheap and transformed them into profitable businesses using lean management style.