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East Africa mourns death of Tanzanian billionaire Reginald Mengi

Phumzile Ngcatshe

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DODOMA – The world of business has been dealt a massive blow with news that Tanzanian billionaire Reginald Mengi has passed away.

According to reports in East Africa, the owner of Radio One, ITV, IPP Gold and other firms passed away on Thursday in Dubai.

The 75-year-old tycoon and billionaire was the richest man in Tanzania and is survived by his young wife, Jacqueline and their four children.

In addition, the billionaire has reportedly left behind $560 million for his 39-year-old wife and former Miss Tanzania, thus becoming the richest person in East Africa.

Part of the inheritance is several ownership of business organisations and media reports suggest that the 75-year-old suffered a stroke less than a year ago.

Mengi trained as a financial expert in the United Kingdom and worked for a while with a consulting firm in Dar es Salaam.

Meanwhile, it is further reported that the Tanzanians will remember this soft-spoken man, not for the amount of money he gave to charity, but for the rich heart that made him give gladly.

Photo: Reginald Mengi/Twitter

Phumzile is an experienced Journalist having launched his career in 2007. He has written for News24 Travel and a number of Football websites and publications covering the South African Premier Soccer League (PSL), African football such as the CAF African Cup of Nations and CAF Club competitions. He recently joined FX Magazine to offer more balanced and unbiased financial reporting.

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