[ad_1]
According to Forbes financial magazine, Mohammed Dewji is worth $ 1.5 billion (980 million pounds sterling).
The man, who would be the youngest billionaire in Africa, was kidnapped by masked gunmen in Dar es Salaam, the Tanzanian capital, police said.
Mohammed Dewji, 43, was abducted in front of a gym at a posh hotel where he was going for his usual morning workout.
Three people were arrested in connection with the incident and two of the kidnappers are believed to be foreign nationals, the police added.
The reason for the kidnapping of Mr. Dewji is still unclear.
- Africa Live: more updates on this and other topics
Who is Mohammed Dewji?
The Forbes financial magazine estimates its wealth at $ 1.5 billion and has described it as the only billionaire of Tanzania.
In a report released in 2017, Mr. Dewji was the youngest billionaire in Africa.
He promised in 2016 to donate at least half of his fortune to philanthropic causes, Forbes said.
Dewji, known locally as Mo, is expected to turn his family-owned wholesale and retail business into a pan-African conglomerate, reports Athuman Mtulya of the BBC in Dar es Salaam.
His company, METL, has interests in textile manufacturing, milling, beverages and edible oils in at least six African states.
Environment Minister Janvier Makamba, a friend of Mr. Dewji, tweeted that he had spoken to Mr. Dewji's father and that his family confirmed that he had been kidnapped.
