There are close to 6,000 billionaires in Tanzania engaged in different businesses such as mining, industrial trade, financial sector, telecommunications, tourism and real estate. This was brought to light earlier today by Finance Minister Mwigulu Nchemba during a parliamentary session in the country’s capital Dodoma.
According to the Minister, 115 of the 5740 billionaires have a net worth above $30 million, categorized as Ultra High Net Worth Individuals, and account for 28% of the total net worth of Tanzania’s billionaires.
Nchemba was responding to a question raised by Mlalo Member of Parliament, Rashid Shangazi, and took the opportunity to further explain that the government through its revenue collecting authority TRA has a registry of most of these billionaires and collects taxes from them according to the law.
Africa as a continent is home to 140,000 billionaires, accounting for just 1% of the global billionaires tally.
The all africa