The 25 Richest Families In Tanzania 2022...

tanzania is one of the nations whose economic growth rate is steadily increasing the gross domestic product of the nation has increased by 4.6 giving a round figure of an overall gross domestic product of over 70 billion dollars since last year the vast majority of business owners who control tanzania's private sector are the main reason for the country's rising economic progress the fact that it is one of the largest countries in africa's eastern part is another contributing element tanzania has a total private wealth of 56 billion dollars and a wealth per capita of 940 the country has 2 400 high net worth individuals 80 multi-millionaires eight centi millionaires and one billionaire with all of this wealth concentration you can imagine how this relates to the wealth of some of tanzania's most famous families today we are going to be looking at 25 of the wealthiest families in tanzania beginning with the 25th 25. the shang family the shank family is one of the most famous families in tanzania they are famous for their stakes in cerdb bank tanzania's largest privately held universal bank the privatization of state-owned businesses by the tanzanian government led to the establishment of the bank in 1996. leading tanzanian pension funds and the danish government-sponsored fund to become the bank's largest shareholders in 2009 the bank went public on the dar es salaam stock exchange and as of december 2019 it had more than thirty thousand stockholders the sheik family also holds several shares in nmd bank making them one of the wealthiest families on the dar es solem stock exchange the bulk of the family's fortune comes from patrick's stake in both crdb bank and nmd bank their combined assets are said to be worth over 10.9 million dollars 24. the shirima family the shirima family is also famous for their stake on the dar es salem stock exchange and their major stake in precision air one of tanzania's largest privately owned airlines the bulk of the family's fortune is a result of michael sheary mistake in precision air a company he co-founded and is the current chairman the combined assets of the shirima family are said to be worth over 12.2 million dollars 23 the abdul family the abdul family is the family of tanzanian musician nesib abdul juman isak or better known by his stage name diamond platinums diamond is the cousin of tanzanian socialite dj romeo abdul jones professionally known as romy jones he also has two sisters musician queen darlene and entrepreneur socialite asthma platinums the abdul cousins are some of the wealthiest entertainers in tanzania with diamond platinums at the helm of it all diamond platinums is an accomplished musician he is the founder and ceo of wasafi bet wasafi media and wcb wasafe record label diamond is extremely popular in east and central africa he became the first musician from africa to reach a cumulative total of 1 billion youtube views the bulk of the abdul family fortune comes from diamond platinum's holdings in his various ventures their combined wealth is estimated to be worth over 12.6 million dollars 22. the rajabali family the rajabali family is another well-known family with major stakes in the dar as solemn stock exchange as well as other holdings in crdb bank and plasco limited the majority of this family's wealth comes from the brothers anali and sajid rajabali's holdings in c crdp bank and the dar es solem stock exchange their combined assets are said to be worth over 16.1 million dollars 21. the chenge family the change family is a very popular family in tanzania it is the family of one of tanzania's most famous politicians andrew chenge he was appointed as the first ever minister of east african affairs in the cabinet on january 4 2006 after serving as attorney general on october 15 2006 he was later appointed minister of infrastructure a position he held until the cabinet was formed on february 12 2008. he resigned on april 20 2008 after the uk's serious fraud office discovered that he held one million dollars in an offshore account allegedly as kickbacks from a contentious military radar deal between the tanzanian government and uk's bae systems which he helped to oversee while serving as attorney general the bulk of the cheng family fortune comes from andrew cheng's offshore holdings which are estimated to be worth over 17 million dollars 20. the manic family yajish manik founded the mac group in tanzania in 1980. its most prominent business is exi and bank one of the three largest banks in tanzania in terms of customer and asset base he also owns the heritage insurance company and strategis the country's leading health maintenance organization the family's combined fortune is estimated to be worth over 22 million dollars 19. the abood family the abood family is the family of the well-known tanzanian politician abdulaziz abud he has been a tanzanian member of parliament since 2010 and has a huge number of offshore assets and accounts the majority of the family's assets are from abdullah's abode's offshore holdings which are estimated to be worth over 24 million dollars 18. the zachariah family the zachariah family is another popular and wealthy family in tanzania it is the family of the late harunza korea the family has major stakes in mirza oil mills limited mirza oil mills limited has managed to emerge as one of the leading industrial forces in the edible oil and soap sector with a team of highly qualified experts working under the proficient leadership of the zakaria brothers abdul and harunza korea the company has set high standards in the manufacture of edible oil toilet and laundry soaps margarine and extraction of oil from sunflower seeds the zacharia family's combined fortune is estimated to be worth over 30 million dollars 17. the patel family the patel family is another well-known family in tanzania with major holdings in the transportation sector the patel family owns bulk distributors limited one of the largest vehicle maintenance and vehicle distributing services in tanzania the bulk of the family's wealth is from jay patel's holdings in bulk distributors limited their combined wealth is estimated to be worth over 46 million dollars 16. the abbas family the abbas family is one of the most influential families in tanzania as it is the family of sport pasad director general taremba abbas the family has major holdings in sport pesa he was the former director of national lotteries at the ministry of finance and planning after that he moved to be the director general of the gaming board of tanzania the major reason for their status is due to tarimba abba's stake in sport pessa the family has a combined estimated fortune of 57 million dollars 15. the bell family the mibao family is another very influential family in tanzania the family of the famous tanzanian politician and main opposition leader freeman bau he was recently arrested with some other party members as they were planning a rally the state charged him for terrorism and kept him in custody for seven months after which he was released he was chosen to remain a member of the national assembly representing the high district in the kilimanjaro region in 2015. the bulk of the bao family's fortune comes from freeman obama's offshore accounts and assets they are expected to be worth an estimated 69 million dollars 14. the rathat family the rathad family is another famous and equally very wealthy family in tanzania due to their stakes in wimplast limited the company's primary offerings are injection molded plastic chairs tables and other furniture the company's collection includes the newest and most cutting-edge european designs which stand out for their distinguishing qualities including brilliant color combinations ergonomic design for optimal physical comfort lightweight 100 termite resistance low maintenance costs and low price the rathod family equally has a lot of holdings in other companies in tanzania the majority of the family's money comes from gizul rathod's stake in wimplast limited they are estimated to have a combined fortune of 84 million dollars 13. the turkey family the turkey family is one of the famous families in tanzania being the family of the late solemn turkey or mr white as he was in famously known he was one of the co-founders and former chairman of the turkeys group of companies a conglomerate that includes over 14 firms in the health tourism transportation food and beverage building materials oil and gas communication engineering cement production and real estate sectors his two sons tufic the chief executive officer and abdallah the executive director run the businesses which are based on tanzania's mainland zanzibar and the comoros islands his only daughter kaitham focuses on her own fashion and cosmetics company the bulk of the family's current fortune comes from solemn turkey stakes in the numerous companies under turkish group of companies their combined wealth is estimated to be over 93 million dollars 12. the sumaya family the samea family is equally very powerful the family has a major stake in shivacom shivacom tanzania limited was established in 2000 and since then they have offered services all across tanzania shivacom tanzania limited is a member of the shivacon group of companies a larger organization that focuses on investment firms and real estate contracting work in grade one automobiles security measures and software the bulk of the family's fortune comes from tanosamaya's stake in shivacom are estimated to have a combined fortune of over 97 million dollars 11. the loisa family the lowasa family is undoubtedly one of the most famous families in tanzania it is the family of edward lawassa one of tanzania's most popular politicians during the second term of president ali hassan winnie edward lawassa held the position of minister of state in the prime minister's office he sought the chamacho map in doozy's presidential nomination in 1995 but julius nier re-ray the former president quickly disqualified him because he felt that edward lawasso was not yet qualified to serve as president he kept his seat in the house of representatives and established himself as a powerful backbencher until 1997 when he was named minister for state in the vice president's office for environment and poverty the bulk of the loas of family fortune comes from edward lowas's offshore holdings and assets they are estimated to be worth a combined total of over 120 million dollars 10. the cannabar family the canabar family is undoubtedly one of the wealthiest and most influential families in tanzania due to their shares in the synarch group of companies the synard group of companies is mainly concerned with recycling batteries smelting and manufacturing of lead logistics support commercial real estate and warehouses the majority of the wealth of this family comes from shikhar kanabar's stake in the senarge group of companies the family is said to have a combined fortune of 390 million dollars 9. the muhammad family this is the family of gallip said muhammad khalid took over the family business that was set up by his father khalib said muhammad senior who had a successful general commerce company and cashew growing operation after galeb and his brothers succeeded their father they continued to grow the empire by crossing tanzanian borders before ultimately resolving to focus on their individual fields of expertise khalid currently has businesses in china dubai tanzania rwanda zambia the congo burundi and south africa with his commercial interests spanning multiple continents general commerce logistics media manufacturing real estate retail and financial services are just a few of the numerous industries that shalib has incorporated into his conglomerate his group of companies represents some of the well-known international brands from china dubai and spain providing a rare opportunity for its customers over 2000 direct people are currently employed by gsm gropey which has also generated a large number of indirect jobs the bulk of the muhammad family fortune comes from ghalib said muhammad's stake in the numerous companies the family has a combined fortune of about 480 million dollars 8. the awa family the awa family is one of the most powerful families in tanzania their wealth is a result of their holdings in the lake oil group of companies the company was founded by ally awath a prominent business mogul in tanzania in 2006. it is one of east and central africa's fastest expanding oil trading and transportation companies the business is currently among tanzania's top five petroleum product wholesalers additionally lake oil group markets and distributes fuel products in zambia the drc burundi and rwanda it also owns oil storage facilities in tanzania and the democratic republic of congo it produces lubricants and ready-mix concrete and has a fleet of more than 400 tankers additionally the lake oil group operates gas stations and trading activities in canada the united arab emirates uganda rwanda burundi and mozambique the bulk of the awath family fortune is a result of ally awa's stake in the lake oil group of companies they are estimated to be worth over 480 million dollars 7. the patel family the patel family has major holdings in mmi steels and nyaza road works the patel family cannot be discussed completely without mentioning late mr subhash patel mr patel was the founder and managing director of madison group which is a multi-million dollar business which is among the leading manufacturers in tanzania miss patel who started his entrepreneurial life as a shopkeeper in his father's shop and later on as a trader selling spices gradually moved into the automobile business and later into manufacturing he then went on to build a business empire ranging from manufacturing of steel sheeting and pipes rubber paint and fizzy drinks the group of companies also runs one of the finest hotel and resort chains in tanzania under the sea cliff and white sands brand names today the bulk of the family's fortune comes from subhash patel's fortune the combined wealth of the entire family is estimated to be worth over 520 million dollars 6. the mengi family the mengi family is undoubtedly one of the most powerful families in not just tanzania but in east africa as well it is the family of the late reginald menji he was the chairman of the tanzania private sector foundation confederation of tanzania industries media owners association of tanzania ipp limited and chairman of handini gold incorporated in the wake of his passing his hairs found themselves with a tremendous amount of wealth he had amassed they are said to be worth over 560 million dollars 5. the bakrisa family the bakrisa family is a very popular family in tanzania well known for being the family of the business magnate said solomon bakrisa he founded and currently serves as chairman of the bakarisa group of companies he is a well-known industrialist on the mainland of tanzania and the island of zanzibar he built the commercial empire in under three decades starting off modestly as a tiny restaurateur in the 1970s he left school at the age of 14 to work as a potato mix salesman and he later rose to prominence as an african businessman back recent group is a conglomeration of different businesses with activities in tanzania and five other nations the majority of the back race of families wealth is from said sauling bakris's investments they are estimated to be worth over 600 million dollars 4. the aza's family the as-is family is a well-respected and powerful family in tanzania the family is well known for being the family of rostam ases he owns the largest mobile phone provider in tanzania vodacom tanzania which has 15 million members originally holding 35 percent of the company through cavalry holdings rostem sold 17.2 percent of vodacom tanzania to the vatican group of south africa on may 2014 for an estimated 250 million dollars through his investment company marambo holdings he sold his remaining interest in vodacom tanzania in 2019 for 220 million dollars in addition he holds shares of typha gas group caspian mining mic tanzania plc a tanzanian contract mining company and properties in dubai and omen as is began his career in the family firm before setting out on his own the bulk of his family's wealth comes from his investments they are estimated to be worth a combined total of 900 million dollars 3. the manji family the manji family's popularity is mostly due to use of manji he is rumored to have an intense interest in investing in commercial and residential real estate additionally he founded the quality group of companies which is renowned for upholding its commitment to quality for tanzanians he is also well known for his role in tanzania's auto industry despite being a seasoned and well-known estate consultant in tanzania yusuf manji has carved out a niche for himself among the parastatals of government this is partly because of his sincerity and the superior services he offers to both his clients and tanzanian nationals all over the world the majority of the manji family's fortune is due to use of mangy's investments they are said to be worth a combined estimated value of over 960 million dollars 2. the rashid family the rashid family has one of the most revered reputations in tanzania the main reason for the family's status is probably because it is the family of the prominent business mogul vida hussein rashid the afrocarriers group a pioneer in the trade of used cars in tanzania was established in 1973 by fida hussein rashid afrocarriers later became one of the first businesses in east africa to import japanese automobiles like toyota currently the business serves as the only distributor for brands like golden dragon and eiker today the bulk of the family's fortune is from feder hussein rashid's investments their combined assets are worth well over 986 million dollars one the doogee family the doogee family is the most wealthy family in tanzania and one of the most powerful families in not just tanzania and east africa but the entire continent of africa their meteoric rise to status and power is due to their holdings in the metal group of companies the metal group was founded by the late kula mabus doogie it is now run by his son muhammad dugie the current wealthiest man in tanzania and the 13th richest man in africa metal group is active in textile manufacturing flour milling beverages and edible oils in eastern southern and central africa metal group operates in at least six african countries and has ambitions to expand to more mohammeduji is tanzania's only billionaire he also signed the giving pledge in 2016 promising to donate at least half his fortune to philanthropic causes the doogee family fortune is said to be worth over 1.6 billion dollars tanzania is seen as a developing country and the majority of its wealthy citizens do not envision the country ever becoming developed without a lot of work the wealthiest families in tanzania are accomplishing this by making substantial investments in the nation which have a lot to do with business conglomerates it's like tanzanian entrepreneurs took the phrase don't put all your eggs in one basket a little seriously because very few families on our list have invested in a single idea but rather a whole bunch of different ventures which has been key to their success and their investments are helping to strengthen the economy of the nation if you enjoyed this video please leave a like and also don't forget to hit the subscribe button so you can become part of our online community of tourists here on the new tourist thanks for watching and see you guys in our next video

Channel: The New Tourist

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Keywords: Africa, Tanzania, tanzania, The 25 Richest Families In Tanzania 2022..., african, who is the richest man in tanzania, who are the richest people in tanzania, who are the richest families in tanzania, Who are the most powerful families in tanzania, the new tourist, are tanzanians rich, Why is tanzania rich, The richest families in east africa, the richest families, richest families, richest families in kenya, top 25 richest families in tanzania, the 25 richest families in tanzania, 2022

Id: AWV07FQGnk4

Length: 22min 32sec (1352 seconds)

Published: Sun Sep 11 2022