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Tanzanian billionaire businessman and CEO of Motisun Group Subhash Patel has passed away.
Mr. Subhash Patel, the founder and chairman of the group started his business in 1992 with an induction furnace and rolling mill in Dar-Es-Salaam and in the span of two decades he created an organisation that comprises of more than 15 different companies and has multimillion dollar investments in steel, mining, cement, plastics, paints, fast-moving consumer goods (fmcg), food processing, hospitality, construction and cable.
He led the investment and expansion of the group in Tanzania, Zambia, Uganda and Mozambique [namely with MM Integrated Steel Mills. Mozambique].
He has been actively involved in social and charitable activities.
He has been the leader of the group from the front and believed that in order to excel one must be completely dedicated to a chosen path.
Tanzanian tycoon Subhash Patel has passed on, private sector apex body confirmed on Tuesday.
Patel was the chairman of the Confederation of Tanzania Industries (CTI) and board member of the Tanzania Private Sector Foundation (TPSF) which is the umbrella body of the private sector.
“We are deeply saddened by the news of Mr Subhash Patel’s passing on. The late Mr Patel was TPSF Board Director, Chairman of CTI and a prominent leader within Tanzania and East Africa’s business community. May the Almighty God rest his soul in eternal peace. Amen.” TPSF wrote on its official twitter page (@tpsftz) on Tuesday.
We are deeply saddened by the news of Mr. Subhash Patel’s passing on.
The late Mr. Patel was TPSF Board Director, Chairman of CTI and a prominent leader within Tanzania and East Africa’s business community.
May the Almighty God rest his soul in eternal peace. Amen.#RIP pic.twitter.com/MtZG6tE0mP
— Tanzania Private Sector (@tpsftz) December 15, 2020
No details about the cause of his death and other funeral arrangements have so far been issued.
Subhash Patel was the founder and managing director of Motisun Group which is a multimillion-dollar business that straddles the Tanzanian manufacturing sector.
“Patel left us when we needed him the most as we strive to strengthen the private sector as the engine of the economy and prosperity,” stated the private sector body.
Patel started his entrepreneurial life as a shopkeeper in his father’s shop and later on as a trader selling spices.
He gradually moved into the automobile business and later into manufacturing.
Since then, Subhash has gone on to build a business empire ranging from manufacturing of steel sheeting and pipes, rubber, paint and fizzy drinks.
The group of companies also runs one of the finest hotel and resort chains in Tanzania under the Sea Cliff and White Sands brand names.
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