Refuting some social media reports that claimed the tycoon had been found, the Police boss assured the general public that Dewji alias Mo Dewji will be found soon.
During a recent press conference, the city's police chief Lazaro Mambosasa went on to reveal that the kidnappers "shot into the air" before forcing Dewji into a auto.
As of February 2018, Dewji has an estimated net worth of U.S. $1.5 billion, therefore positioning him as the 17th richest person in Africa and the continent's youngest billionaire.
A former lawmaker, Dewji is the owner and president of the multi-billion dollar revenue Mohammed Enterprises Tanzania Ltd (METL Group).
Dar es Salaam regional commissioner Paul Makonda said the businessman was kidnapped by two men as he entered the hotel.
Dewji served as Member of Parliament for Chama Cha Mapinduzi (CCM) from 2005 to 2015 for his hometown of Singida.
According to eyewitnesses, unknown men arrived in two vehicles and parked at the hotel before Mr Dewji got there.
"Three people have already been arrested but we can't divulge their identity for the moment", he said.
Mr Dewji is also the main shareholder in Simba football club, based in Dar es Salaam.
Dewji is also the first Tanzanian to join the Giving Pledge, a commitment by billionaires to help address society's most pressing problems by promising to give more than half their wealth to charity.
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