Tanzanian billionaire Reginald Mengi has died in Dubai aged 75. Reginald Mengi, had interests in media conglomerate through IPP Group, mining and manufacturing. He owned television station, newspapers and radio stations. Reginald’s wealth was estimated by Forbes to be £430 million in 2014.
The billionaire was born in a humble family near Mt. Kilimanjaro. He was was educated abroad in Scotland. After his return to Tanzania, Reginald Mengi briefly worked as an accountant but later started his factory for manufacturing ball-point pens. As from 1980s Mengi transformed IPP Group into the largest private conglomerate in East Africa that it is today.
The late billionaires company currently employs 3,000 people as per information on the company website.
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ITV and Capital TV are some of the properties owned by Reginald Mengi’s company. The English language newspaper Daily Guardian also belongs to him. Reginald Mengi had in the past been accused of using his media influence against politicians and even ministers.
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