Meet The 10 Richest Men In Tanzania [2024]

In Tanzania, there are lots of wealthy people who have multiplied their fortunes by investing in lucrative industries. Tanzania is one of the richest countries in East Africa that is blessed with productive industries and economic sectors that continually project its Nominal GDP among the best-performing countries in East Africa based on Gross Production.

Some of the top richest men in Tanzania are rated as such because of their huge investments and success in the private sector and agricultural industry. The top ten richest men in Tanzania are some of the wealthiest persons in the African continent.

Top Ten Richest Men In Tanzania

1. Mohammed Dewji

Mohammed Dewji is the Chairman of Mohammed Enterprise Tanzania Limited born in 1975. He is currently the youngest billionaire in Tanzania and gained control of the company after his father, who happened to be the founder.

Through his company, he owns manufacturing plants oriented toward oil-producing facilities; specifically, edible oils and textile productions.

Mohammed Dewji has a net worth estimated to be about TSH 3.4 Trillion, which is the same as 1.9 Billion in US dollars. Mohammed Dewji is also a political entrepreneur, having served in an official position as a member of parliament in Tanzania’s ruling party between 2005 and 2015.

2. Rostam Azizi

Rostam Azizi is a 62-year-old Tanzanian entrepreneur and businessman. He is rated among the most influential and richest men in Tanzania.

Before now, Rostam Azizi used to be at the top of the list of the richest men in Tanzania, having been the first Tanzanian to be publicly recognized as a billionaire on the Forbes list.

Some of the major investments of this key player in the Tanzanian industry include real estate, the telecom industry, and mining, among other ventures.

He founded one of the largest mining companies in Tanzania – Caspian mining. This was a very big aid in earning him a net worth of TSH 2.3 Trillion or 1 Billion USD.

3. Said Salim Bakhresa

The self-made Tanzanian billionaire is the CEO of Bakhresa Group in Tanzania, a conglomerate that has birthed many other firms and establishments. The Bakhresa Group is engaged in the sea freight business, food processing, and petroleum for over 30 years.

The company operates in many regions across the borders of Tanzania; in countries like Malawi, Uganda, and Mozambique. He was born in 1949 and has since widened his scope to gain a presence on the Forbes List of the richest men in Tanzania. He became a TV personality after launching his TV, “Azam TV”.

According to Forbes rating, Said Salim Bakhresa is noted to have a net worth of TSH 1.3 Trillion or 575 million USD

4. Reginald Mengi

Reginald Mengi is one of the influential Tanzanian men, reaching a wide audience through his company – IPP Media Group, which is one of the biggest media firms in Africa. The media personality gained a lot of affluence by investing in his company to produce television stations, 11 radio stations, internet facilities, and newspaper media.

Asides from being a media tycoon, he also established Kilimanjaro Water, a bottling brand that produces sealed bottled water in Tanzania. The bottling company is one of the best brands in Tanzania.

Reginald also has assets and capital investments in the mining industry. Reginald Mendi is estimated to have a net worth of TSH 1.2 Trillion which is equivalent to 560 million USD.

5. Ally Awadh

Ally Awadh is one of the most skillful entrepreneurs on our list of the wealthiest persons in Tanzania with very sharp and unparalleled cognitive abilities. He lives exemplary to young entrepreneurs who are too scared to break boundaries and produce wealth.

Despite being forty years old, he has already established a billion-dollar-worth oil firm in Tanzania. The company is involved to a great extent in Tanzania’s oil trading and manufacturing services.

6. Shekhar Kanabar

Shekhar Kanabar began managing the Synarge group at 35 years. Synergy Group was handed over to him as a family business and his intellectual abilities had aced up between his first few years chairing the company.

This company is a manufacturing firm that deals in the production and recycling of automotive parts and batteries. Shekhar has made productive earnings over the years through strategic planning and investment, which led to his recognition as one of the richest men in Tanzania.

7. Shubash Patel

Shubash Patel is the founder of Motisum Group, which he developed into a multi-million firm within twenty years. The company which used to be just a rolling mill factory now has many other facets that major in the productivity of over 15 industries.

Shubash Patel gained cognizance among the wealthiest people in Tanzania after he subdivided his firm to own stakes in food processing, real estate, and mining industries.

8. Fida Hussein Rashid

Fida Hussein Rashid is one of the billionaires in Tanzania that established the Fida Hussein Businesses. His firm is a key player in the automobile industry and is popular for quality control and first-hand maintenance of second-hand automobiles.

The Fida Hussein Businesses are diversified to own assets in real estate industries like the Raha and Zahra Towers in Tanzania. He also managed another company – Africarriers which has verified rights in awarding brand names like Golden Dragon and Eicher.

9. Yusuf Manji

Yusuf Manji is very popular and influential in the real estate business of Tanzania. He also gained global recognition for his investment systems which have proven to be successful over the years.

He copiously manages lots of Tanzanian companies like; Quality Group Of Companies, Automobile Industries, and the Young African FC, which is one of the progressive and richest football clubs in Tanzania.

10. Salim Turkey

Salim Turkey is one of the richest men in Tanzania that is also one of the richest politicians that are yet a businessman. He is a participant and member of the Tanzanian parliament. With his knowledge of business, and experience in politics, he extensively manages cement-producing companies, hospitals, and real estate firms.

To ensure that he has his eyes on all of his investments, he created the Turkey Group based in Zanzibar to oversee the general affairs and progressiveness of his companies.

Read Also: Top 10 Richest Men In Africa [Forbes Ranking]

Conclusion

There are other successful persons in Tanzania, both men, and women who were not recognized in this post, the richest artists in Tanzania is proof but is noted to chiefly account for a large extent of the country’s economic development. The financial ebullience of the country is not just restricted to the top ten richest men in Tanzania.