Tanzanian billionaire, business mogul, author and Philanthropist Reginald Mengi has died at the age of 75. He passed away in Dubai, United Arab Emirates.
Reginald Mengi was born in 1944 in Kilimanjaro and was the chairman of media owners Association of Tanzania and Handeni Gold, Inc.
He set up the IPP Media Empire that mainly serves Tanzania and part of East Africa.
The Media group owns ITV, East Africa TV, Capital TV, Radio One, East Africa Radio, and capital Fm.
Besides media, IPP has interests in coca-cola bottling, mining and consumer goods.
He is also the owner of a printing company, The Guardian LTD, that prints The Guardian, Nipashe, and Alaska magazines.
In November, The billionaire signed a deal with a South Korean firm to establish a vehicle assembly plant at Kurasini by September 2019.
The carmaker is targeting buyers in Tanzania, Rwanda, Kenya, Uganda, Zambia, and Malawi and is expected to assemble 1000 vehicles per year and employ more than 1000 people.
Mr. Mengi came into the limelight in the 1990s when he set up consumer goods factories and one of the earliest television stations in Tanzania.
The man who weathered the tough media industry in Tanzania to set up a print and broadcasting empire is known to empower vulnerable groups in the East African country.
Reginald Mengi leaves over $500m for 39-year-old wife and four children.
Late Tanzanian billionaire Reginald Mengi’s widow, 39-year-old Jacqueline Ntuyabaliwe, had a sweet message for him on their anniversary:
“I couldn’t have wished for a better man to share my life with, a man who has become my best friend, my rock, my mentor, and my pride. Happy Anniversary sweetheart, I love you.
Thank you for showing me how it really feels to be loved and cared for.” ~ Jacqueline.