Who is the richest man in Tanzania? Tanzania is the twentieth richest country in Africa and through its riches, there are great people whose wealth has equally helped in developing the country. Today’s article is about the richest people in Tanzania and their net worth. So stay tune
Top 10 richest people in tanzania 2021 and their net worth
The following paragraphs have the list of the top 10 richest people in Tanzania
1. Mohammad Dewji
The first person on our list of the top 10 richest people in Tanzania is Mohammad Dewji with a net worth of $1.9 billion. He became the richest man in Tanzania at a younger age of 40 and also the first Tanzanian to appear at Forbes Magazine.
He has about a 75% stake in one of the largest conglomerates in Tanzania, called METL. Mohammad Dewji was born on the 8th of May 1975 in Ipembe, Singida to parents, Gulamabbas Dewji and Zubeda Dewji.
His source of income is from the transformation of textile and oil products he got from the Ugandan Government. Mohammad is also a philanthropist as he has been known for his impactful philanthropic acts. In fact, in 2014, he created the MO Foundation that works with the aim of reducing poverty and hardship for the people of Tanzania.
2. Rostam Aziz
The second richest man in Tanzania is Rostam Aziz with an estimated net worth of US$1 billion. According to research, he is the first-ever Tanzania billionaire having full ownership of his company called Caspain Mining.
Rostam Abdulrasul Azizi was born on 21st August 1964 in Tanzania. He is part of the Aziz family which is one of the wealthiest in East Africa. Rostam sold a 17.2% stake in Tanzania’s largest mobile phone operator Vodacom Tanzania for $250 million and still owns 17.8% of the company.
He is also involved with the largest mining firm in Tanzania Caspian Mining and owns residential and commercial real estate properties dispersed across the globe in countries like Lebanon, Dubai, Oman, Tanzania, etc. Currently, he also has a stake in Daar es Salaam Ports.
3. Reginald Mengi – Net Worth – $ 560 million
Taking the third position on our list is Reginald Mengi with an estimated net worth of $560 million. He is popularly known for his company called IPP Media Group. The company is currently the largest media conglomerate in America.
The company is so large that it currently has over eleven (11) radio stations, television stations, newspapers, and internet facilities. He also has full ownership of Bonite Bottlers and Kilimanjaro Spring Water Company.
4. Ally Awadh – Net worth – $500 million
Ally Awadh is the fourth richest man in Tanzania with an estimated net worth of $500 million. He is the Founder of Lake Oil Group, one of Africa’s fastest-growing energy trading and transportation conglomerates that was founded in 2006. At the moment, the company is one of the largest distributors of petroleum products in Tanzania.
5. Said Salim Bakhresa
Another great man in Tanzania is Said Salim Bakhresa with a net worth of $10.5 Billion. He ventured into business at the age of 14 after dropping out of secondary school. From selling potato mixes to opening a small restaurant and then venturing into grain milling, Mr. Bakhresa has been building his business empire steadily for the past 30 years and today, he has become one of the richest men in East Africa.
He has ventured into businesses like Potato mixes, opening a small restaurant, grain milling business, and many more. Ever since his first time venturing into business, he has always been focused on the intention of building his business empire.
He is known with a company called Bakhresa Group of Companies which is known for being active in petroleum, sea transport, grain milling, and food processing industries. He is also the owner of Azam TV which currently has over 3000 employees and numerous branches in countries like Mozambique, Malawi, Uganda, etc. He is also known for his philanthropic acts and creative mind.
6. Shekhar Kanabar – Net worth $390 million
The sixth richest person in Tanzania is Shekhar Kanabar with an estimated net worth of $390million. He is currently the managing director of the Synarge Group, which is one of the most highly respected conglomerates in the whole of Tanzania. The Group is widely known for producing accessories for the automotive industry.
Some of the products they are known for include lead, spare parts for vehicles, batteries, etc. In fact, they usually recycle the latter for supplementary uses. Even though the company is family-owned, Shekhar has employed all opportunities the company provides to ensure his wealth fall on the increment side. In addition, he has employed all measures to ensure the company is the best-selling and leading automobile industry in Tanzania.
7. Subash Patel
The seventh richest man in Tanzania 2021 is Subash Patel with a net worth of net worth of $575 million. He is a student from the Institution of Electric Engineers, Subash Patel is known for having an association with MMI Steels Resource Limited and Nyaza Road Works Limited.
Subash is likewise one of the many centered finance managers in Tanzania. He has used all resources he had for the past 20 years to extend his business from being a rolling mill business into one of the leading conglomerates in Tanzania. The conglomerate he currently has is called Motisun Group. With over 15 subdivisions, the conglomerate currently operates in the areas of food processing, real estate, mining, and many others.
8. Ghalib Said Mohammed
Ghalib Said Mohammed, who is started working with his dad Cashew and business companies, is the eighth richest man in Tanzania with a net worth of $19 Million. In the wake of expenditure so many business years with his dad, he later chose to become autonomous and this brought about the foundation of his own organization, which he called GSM Group.
Today, the business is generally known for taking care of arrangements in the retailing, transportation, media, coordinations, finance areas, and so on Ghalib and his dad later wandered into the rural area fully intent on giving food items to individuals of Tanzania simultaneously bringing in their cash.
9. Fida Hussein Rashid
Being the organizer of Africarriers Group, Fida Hussein Rashid has gathered sufficient cash in the auto business. Making him one of the richest people in Tanzania with a net worth of $1.6 Billion. His organization is generally known just like the principal organization to manage recycled vehicles.
The organization has likewise recorded other achievements including being the sole merchant of specific brands that incorporate Eicher and Golden Dragon. These realities are the structure squares of the standing the organization at present appreciates in the country. He is likewise known to claim the Iconic Zahra Tower and the Raha Tower.
10. Yusuf Manji
The 10th on the list of the top 10 richest people in Tanzania is Yusuf Manji. He is known to have a higher interest in land (both private and business), he is the organizer of the Quality Group of Companies, which is known for maintaining its name of giving quality to individuals of Tanzania.
He is additionally known for having been included in the auto business in Tanzania. Despite the fact that Yusuf Manji is a prepared and prestigious domain expert in Tanzania, he has made a spot for himself in the wing of government parastatals. This is significantly a direct result of his respectability and the great administrations offered to his customers and individuals of Tanzania.