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Top 20 Richest Men in Tanzania

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Introduction

Who are the top richest men in Tanzania?

Tanzania is a country that is located in East Africa.

The country is blessed with resources and innovators have made good use of them to create wealth.

Just as most African nations, Tanzania is a developing country with a prospect to expand in decades to come.

Due to its business-enabling environment, investors are attracted to the country.

The East-African country has been able to drive innovation and investments through their enabling policies, tax rate and provision of business grants.

Top 12 Richest Men in Tanzania

1. Mohammed Dewji

Mohammed Dewji is the number innovator on the list of the top richest men in Tanzania.

The Tanzanian bought several production plants from the government and through the dividends, he changed his family’s business to a global trading empire.

Mohammed Dewji is the acting Chief Executive Officer of Mohammed Enterprises Tanzania Limited, abbreviated as MeTL.

To gain more power to favour his business, the rich entrepreneur joined the country’s Member of Parliament, where he served for 10 years.

2. Rostam Azizi

NET WORTH: TSH. 2.3 trillion

Rostam Azizi Claims the second spot on the list of the top richest men in Tanzania.

He is a popular and notorious business tycoon, investor, entrepreneur and hustler.

The Tanzanian business guru was the first billionaire in the country.

Azizi also invests in sectors like telecommunications, mining and property.

3. Said Salim Bakhresa

NET WORTH: TSH. 1.3 trillion

Said Salim is a successful businessman, investor and entrepreneur.

He is the owner of Bakhresa Group.

This business of his deals on investment across several sectors. For instance, Azam TV which is a viewing platform in East Africa is a subsidiary of the group.

The group is also into the oil and gas, food processing and cargo industry.

He was a school dropout but that did not deter him from garnered an estimated net worth of approximately TSH. 1.3 trillion

4. Reginald Mengi

NET WORTH: TSH. 1.2 trillion

Reginald Mengi is among the “top four” richest men in Tanzania.

He is a multi-media expert and his firm, IPP Media Group, is into radio broadcasting, TV production, journalism and online marketing.

The rich Tanzanian also deals in mining and is a philanthropist with an interest in children grieving from heart disorders.

Reginald has an estimated financial net worth of approximately TSH. 1.2 trillion.

5. Ally Awadh

NET WORTH: TSH. 2.3 trillion

Ally Awadh is one of the top richest men in Tanzania.

Having had an intense passion for the oil and gas sector, Ally began investing but was deemed an underdog due to the nature of the business.

His creative mindset paved the wave for him amid the impediments, barriers and hurdles he faced during these times.

Today, he is a proud owner of a successful oil company in Tanzania. This has earned him an estimated net worth of about TSH. 2.3 trillion.

6. Shekhar Kanabar

Shekhar Kanabar is a notorious hustler, business tycoon, investor and entrepreneur.

The rich man from Tanzania is the M.D of the “Synarge Group.”

This is one of the most successful family business in Africa.

The group deals in the manufacturing of automotive equipment spanning from car batteries to auto spare parts.

This business empire is also involved in other sectors of production.

However, even as a family industry, Shekhar leads the pack due to his exceptional business brain.

7. Shubash Patel

Shubash Patel is a successful Tanzanian business tycoon.

He is the brain-box behind the foundation and growth of the Motisum Group.

The company started business on a rolling mill before expanding to produce other goods and services.

The Group commands 15 different subsidiaries.

These divisions deal in the property business, mining, consumer goods and several others. that have interests in different sectors of the economy. These are real estate, food processing mining, and so on.

8. Fida Hussein Rashid

Fida Hussein Rashid is a rich Tanzanian automobile expert.

The business mogul and entrepreneur has a firm that deals in fairly used auto in the country.

Aside from investing in the automobile, Fida also made a name on real estate.

He is the owner of the popular Raha and Zahra Towers.

Affiliating with Eicher and Golden Dragon through his distribution brand, Africarriers, Fida Hussein Rashid sits at the top as far as African successful entrepreneurs are concerned.

9. Yusuf Manji

Yusuf Maji is a prominent business magnate with eyes on investment.

He is the founder of Quality Group of Companies, a successful business brand that deals in real estate investment.

The rich Tanzanian is also an automobile investor.

Yusuf is the chairman of Young African SC.

This is one of the top soccer teams in the Tanzanian football league.

10. Salim Turkey

Salim is one of the top richest men in Tanzania.

The rich Tanzanian is a business mogul, investor, hustler, politician and entrepreneur.

He has investments in several sectors such as real estate, medical, cement production etcetera.

More so, all his investments are subsidiaries operating under his Zanzibar-based Turkys Group.

The successful businessman is one of the members of the country’s billionaires club and is serving in the Tanzanian governmental parliament.

11. Ghalib Said Mohammed

Ghalib is one of the best business brains in Tanzania.

He is the owner of GSM Group, a conglomerate in the country.

This group deals in transportation, property investment, media programmes, trade, finances and so on.

He was partly schooled in business by his father who was into agricultural cashew farming and trading.

12. Yogesh Manek

Yogesh Manek is one of the top richest men in Tanzania.

He has shares EXIM bank, a top and very successful banking institution in the country.

The rich Tanzanian business magnate is the owner of MAC Group, a successful business empire in the country.

He also invests in the medical sector and is one of the leading entrepreneurs in East Africa.

Full List: Top 20 Richest Men in Tanzania

  1. Mohammed Dewji
  2. Rostam Azizi
  3. Said Salim Bakhresa
  4. Reginald Mengi
  5. Ally Awadh
  6. Shekhar Kanabar
  7. Shubash Patel
  8. Fida Hussein Rashid
  9. Yusuf Manji
  10. Salim Turkey
  11. Ghalib Said Mohammed
  12. Yogesh Manek
  13. Fish Owner Mwanza
  14. Oilcom Owner
  15. Tunil Somaiya
  16. Precision air
  17. Tigo Owner
  18. Zantel Owner
  19. Mh. Mkono
  20. Air Tanzania

Conclusion

Tanzania is one of the rapidly developing countries in Africa.

It is one of the best locations for investment and coupled with its economic friendly business policy and system, the country has experienced a rise in the number of millionaires.

As it stands, it is hard to tell the exact number of millionaires present in the East African country.

However, more are expected to be added to the cart of Tanzania’s wealthy class.

Who did you expect to make the list of the top richest men in Tanzania but did not?

Let’s hear from you.

Princewill Ubaha is an electrical engineer by profession, a content writer by perspiration, and an Akwa Ibomite by birth. He always believed that the habit of persistence is the habit of victory.

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