Tanzanian tycoon Reginald Mengi dies aged 75



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Tanzanian billionaire, business mogul, author and philanthropist Reginald Mengi has died aged 75.

Two of his media outlets, ITV and Radio ONE, on Thursday morning confirmed that Mr Mengi, the chairman of Confederation of Tanzania Industries, IPP Gold Ltd, passed on in Dubai.

The author of the book I Can, I Must, I Will, is one of the richest people in Tanzania.

He was born in 1944 in Kilimanjaro and was the chairman of Media Owners Association of Tanzania and Handeni Gold, Inc.

Through IPP, Mr Mengi set up the IPP Media media empire that mainly serve Tanzania and parts of East Africa.

The media group owns ITV, East Africa TV, Capital TV, Radio One, East Africa Radio, and Capital FM.

He is also the owner of printing company, The Guardian Limited, that publishes the Guardian, Nipashe and Alaska magazines.

His death comes five months after he announced investments in IPP Automobile, a car assembly plant, and the mobile phone sector.

In November, the billionaire signed a deal with a South Korean firm to establish a vehicle assembly plant in Dar es Salaam.

According to a report by The EastAfrican, the $10 million plant is a joint venture between with IPP Automobile Company Ltd and Youngsan Glonet Corporation.


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