Rostam Aziz, the former richest person in Tanzania, is learned to be selling of his Vodacom Tanzania shares, 26.25 percent and the remaining ones.
Vodacom is a public-listed company and the stake is valued at more than $200 million. It is not yet known how the Vodacom Group of South Africa will be paying to the multi-millionaire tycoon, who had sole 17.2 percent of the shares to Vodacom South Africa in 2014. It was then valued at $240 million.
Stakes of the 57-year-old tycoon is held via his family’s investment vehicle Mirambo Holding. However, the earlier sold stake was held via Cavalry Holdings, which is a Jersey island-registered private investment company and it is wholly controlled by him.
As of now there are more than 11 million active subscribers to Vodacom Tanzania and it is the largest phone commpany in the country. It is also the second most successful operation in the continent after South African unit, which has over 23 million subscribers.
In 2017 the mobile company debuted on the Dar es Salaam Stock Exchange.
Once Aziz was the richest person in Tanzania and also the first billionaire there. He had built his fortune from stakes in Caspian Mining firm too apart from Vodacom Tanzania.
Caspian Mining is a Port in Dar es Salaam.
Aziz also invested in real estates and Tanzanian media.
