The East African country of Tanzania has found substantial growth with a rising economy that outrank that of others in the region. A small share of credit for the development goes to a group of business moguls who continue to contribute to the country. It is safe to say that these businessmen have built their multi-million/billion dollar empires with their own sweat and labour. While some of the names are recognisable and some are not, what matters is their benefaction to Tanzania.
Mohammed Dewji
With a net worth of $1.3 billion, Dewji has a successful business enterprise, one he established after obtaining the ownership of several production plants owned by the Ugandan government. With 75 per cent ownership of METL group, the 42 year old was regarded as the youngest billionaire on the list of 50 richest Africans 2017.
Rostam Azizi
Owner of various companies including Caspian Mining, the 53 year old emerged as the very first billionaire the country produced. According to Forbes, he owns nearly 18 per cent of Vodacom Tanzania, the country's largest mobile phone company, with 15 million subscribers. He previously owned 35 per cent of the company via Cavalry Holdings, however sold 17.4 per cent shares to Vodacom Group of South Africa for an estimated $250 million. His net worth stands at $1 billion.
Said Salim Bakhresa
Founder and chairperson of the Bakhresa Group of Companies, Said is a well-known industrialist in the mainland of Tanzania and island of Zanzibar. A humble beginning has helped keep him rooted despite his net worth of $575 million. A fact worth commending is that the 68 year old established his vast empire in just over three decades. Not just as the founder of Azam TV, he is also known for generating employment for over 500 people. His fields of business include petroleum trading, ferry services, and food beverages.
Reginald Mengi
The Tanzanian media mogul sits on the throne of one of the largest media conglomerates in entire Africa. His IPP Media Group owns 11 newspapers, radio, and television stations and internet properties. His IPP Resources mines gold, uranium, copper, chrome, and coal. With modesty as one of his biggest virtues, Reginald is a devout philanthropist and sends hundreds of Tanzanian children suffering from heart ailments to India for treatment every year. With a net worth of $560 million, he is considered to be one of Tanzania’s self-made millionaires.
Ally Awadh
“The 36 year old entrepreneur who built a $1 billion oil company in Tanzania”, Ally has built himself a reputable business empire with his involvement in oil trading and services. After being authorised by a license, he initiated his petroleum firm Lake Oil Group, which works on the import and distribution of petroleum within the country.
Shekhar Kanabar
The 35 year old Shekhar Kanabar is the CEO of Synarge Group, a 50-year old family-owned Tanzanian conglomerate with branches in lead manufacturing, battery recycling, and automotive spare parts. The business which was founded by his father in the 60 as a cloth trading business, has since grown to become one of the biggest multi-company enterprise in the country with over 150 employees and a revenue worth millions of dollars.
Subhash Patel
Founder and chairman of Motisun Group, Subhash created a multi-million dollar organisation in a span of just two decades. His Group comprises of over 15 different companies and has multi-million dollar investments in steel, mining, cement, plastics, paints, FMCG, food processing, hospitality, construction, and cable. He heads the investment and expansion of the group in Tanzania, Zambia, Uganda, and Mozambique. Subhash also indulges in several charitable activities. Motisun Group owns a collection of some of Tanzania’s finest hotels and resorts, including the popular Sea Cliff Resort in Zanzibar and the Hotel White Sands in Dar es Salaam.
Ghalib Said Mohamed
Tanzania’s multi-millionaire Ghalib got a head start by working for his father's cashew farming and general trading business. He later founded the GSM Group, a wide-ranged organisation that deals with general trading, transportation, logistics, media, manufacturing, real estate, retailing, and financial services.
Fida Hussein Rashid
A prominent name in Tanzania’s automotive industry, Fida and his Africarriers Group became part of the country's first set of companies to trade in second-hand vehicles. The company also became the first East African company to engage in the importation of Toyota and other Japanese automobiles.
