Africa’s ‘youngest billionaire’, has been kidnapped by masked gunmen in Tanzania’s main city, Dar es Salaam.

Mohammed Dewji, 43, who is reportedly worth $1.5 billion (£1.1 billion) and is the president of MeTL Group, which operates in about 10 countries was abducted as he entered a hotel gym.

Mr Dewji is ranked 17th by Forbes on its list of Africa’s billionaires.

According to The Guardian, the regional governor, Paul Makonda, said Mr Dewji was kidnapped by whites travelling in two vehicles.

“Initial information indicates he was kidnapped by whites travelling in two vehicles.This kind of incident is new here.”

Also in the report, the Dar es Salaam police chief, Lazaro Mambosasa, at a press conferences said the kidnappers had “shot into the air” before bundling Mr Dewji into a car.”

”Police are looking for suspects and have already made arrests,” Mr Lazaro said.

Mr Dewji studied at Georgetown University in Washington DC. He served as an MP from 2005 to 2015.

In 2013, he became the first Tanzanian to be on the cover of Forbes magazine, and was named Forbes Africa person of the year in 2015.

He is married with three children. In 2016, he signed a pledge to donate at least half his fortune to philanthropic causes.

Mr Dewji is also the main shareholder in Simba football club, based in Dar es Salaam.