Rostam Aziz Explained

Rostam Azizi
Office:Member of Parliament (MP) for Igunga Constituency
Native Name:رستم عزیز
Successor:Dalaly Kafumu
Party:Chama Cha Mapinduzi
Birth Place:Tabora Region, Tanzania
Children:4
Residence:Dar-es-Salaam, Tanzania
Occupation:Businessman, Investor, Politician
Term Start:1994
Term End:13 July 2011

Rostam Abdulrasul Azizi (born 21 August 1964) is a self-made Tanzanian billionaire, business magnate, economist and former politician. In 2013, according to Forbes Magazine he was the first Tanzanian dollar billionaire with a net worth of over 1 billion dollars, in 2023 he had amassed a net worth of 8.2 billion dollars. [1] and according to Henley & Partners Africa wealth report 2022, and was only dollar billionaire in East Africa.[2] [3]

He represented the Igunga constituency in Tabora Region from 1994 until his resignation in 2011.[4] He was the ruling party Chama Cha Mapinduzi (CCM) National Treasurer from 2005 to 2007 and member of the Politburo/Central Committee of CCM from 2006 to 2011. Some of the key as an MP he pioneered community health insurance in East Africa and every household in his constituency was provided with health insurance from the Community Health Fund.[5] He also achieved access to water for every resident in his constituency and Igunga Constituency became the first district to have a dispensary in every village and electricity in every ward.

According to Forbes magazine[6] Rostam Aziz of Tanzania owns nearly 18% of Vodacom Tanzania, the country's largest mobile phone company, with 15 million subscribers.[7] Rostam, via Cavalry Holdings, previously owned 35% of the company, but, in May 2014 he sold 17.2% of Vodacom Tanzania to Vodacom Group of South Africa for an estimated $250 million.[8] In 2019 he sold his remaining stake in Vodacom Tanzania through his investment vehicle Mirambo Holdings for USD$ 220 million.[9]

He also owns MIC Tanzania Plc (TIGO Tanzania and Zantel Ltd),[10] Taifa Gas Group,[11] Caspian mining, a contract mining firm in Tanzania, and real estate in Dubai and Oman. Aziz got his start in his family's trading business and then branched out on his own.

Background

Rostam was born in Igunga District of Tabora Region, where he completed his schooling before proceeding to the United Kingdom for higher education. He completed his Bachelor in Economics from Exeter.

During his political career Rostam was appreciated by former Tanzanian president Benjamin William Mkapa in his memoir, for the formation of the National Health Insurance.[12] He worked on improving the water supply in his constituency Igunga, which became the first district to have a dispensary in every village and electricity connection in every ward.

Overview

Rostam investments range from telecoms, energy, mining, agriculture, media, real estate, port facilities and services.

His holdings include:

Notes and References

  1. Web site: 50 RICHEST PEOPLE IN AFRICA #26Rostam Azizi . dead . https://web.archive.org/web/20131118195955/http://www.forbes.com/africa-billionaires/gallery/rostam-azizi . 18 November 2013 . 21 July 2015 . Forbes . Rostam Azizi, Tanzania's first billionaire..
  2. Web site: Africa Wealth Report 2022 . 2022-07-07 . www.henleyglobal.com.
  3. Web site: 2022-04-29 . Tanzania has the only dollar billionaire in East Africa: report . 2022-07-07 . The East African . en.
  4. Web site: Rostam Resigns As MP, NEC Member . 13 July 2011. 6 November 2014. Reporter. Guardian. IPP Media (Dar es Salaam).
  5. News: Mande . Mike . 17 July 2011 . Tanzania's opposition welcomes Rostam Aziz's quitting . The EastAfrican . 21 July 2015 .
  6. Web site: Rostam Azizi. Forbes. 31 May 2016.
  7. Web site: Vodacom Group Wraps Up Stake Acquisition From Rostam Aziz. WealthX. 17 July 2016. 6 May 2014.
  8. Web site: Tanzania's Richest Man Concludes Sale Of Vodacom Stake. Nsehe. Mfonobong. Forbes. 31 May 2016.
  9. Web site: Nsehe . Mfonobong . Tanzanian Tycoon Rostam Aziz Sells Last Tranche Of Vodacom Shares For $220 Million . 2022-07-07 . Forbes . en.
  10. News: AXIAN TELECOM AND ROSTAM AZIZI CONSORTIUM CLOSES ACQUISITION OF MILLICOM'S ENTIRE TELECOM OPERATIONS IN THE UNITED REPUBLIC OF TANZANIA . www.tigo.co.tz . 2022-07-07.
  11. Web site: Nsehe . Mfonobong . Tanzanian Tycoon Rostam Aziz Builds $65 Million LPG Plant In Kigamboni . 2022-07-07 . Forbes . en.
  12. Web site: 2021-04-11 . How Rostam Aziz's Igunga model helped the formation of NHIF . 2022-07-07 . The Citizen . en.
  13. Web site: Rostam Offloads Vodacom Equity for A Cool TSh387 Billion (US$242 Million). Reporter. 28 November 2013. The Citizen. 6 November 2014. The Citizen.
  14. Web site: Masare. Alawi. Rostam, Dewji, Mengi in 50 richest Africans list. The Citizen.