Billionaire businessman and popular philanthropist, Reginald Mengi has been reported to have died.
Reginald Mengi
Reginald Mengi, one of Tanzania’s wealthiest and most storied businessmen, has died at the age of 75, Forbes reports.
Tanzanian media and executives at his family office confirmed on Thursday morning that Mengi passed on in the early hours in Dubai, United Arab Emirates.
Tanzania’s President John Magufuli sent a condolence message via his Twitter page early on Thursday.
“I am shocked at the death of an elder and a friend Dr. Reginald Mengi. I will remember him for his immense contribution to the development of our country and for the words he wrote in his book (titled) I Can, I Must, I Will. Sorry to members of his family, IPP workers and the entire business community,” the President said.
Mengi was one of the most revered figures in East African business circles. Born in 1944 in Kilimanjaro to extremely impoverished parents, he rose above arduous circumstances and overcame early adversity to become one of Tanzania’s most accomplished and wealthiest businessmen. FORBES estimated his net worth at $560 million in 2014.
He was the founder of the IPP Group, a Tanzanian conglomerate that bottles Coca-Cola and manufactures the bestselling ‘Kilimanjaro’ water brand in the country. His group is also involved in mining, real estate and manufacturing of consumer goods. Mengi was perhaps best known for owning one of the largest and most influential media companies in Africa. His media group, IPP media, owned several newspapers, television and radio stations in Tanzania. In all, the IPP group employs more than 5,000 people, and was one of the largest corporate taxpayers in Tanzania.
Last July, Mengi published his autobiography, I Can, I Must, I Will, to regional acclaim. During the official unveiling of the book, at a glamorous ceremony in Dar es Salaam, Tanzanian President John Magufuli had acknowledged Mengi as one of Tanzania’s most illustrious capitalists and humanitarians.