Michael Shirima

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Michael Shirima
Born
Rombo, Kilimanjaro Tanzania
NationalityTanzanian
CitizenshipTanzania
OccupationBusinessman & entrepreneur
Years active1993–present
Known forBusiness

Michael Ngaleku Shirima (born 1943) is a Tanzanian businessman, entrepreneur, and philanthropist. He is the founder and current chairman of Precision Air, Tanzania's largest privately owned airline.[1]

Background[]

He was born in Usseri Rombo District, Kilimanjaro Region, Tanzania.[2]

Career[]

Shirima started Precision Air in 1993, with a twin-engine five-seater airplane, a Piper Aztec. Using Arusha as its base, the airline began by providing charter flights to tourists visiting Serengeti National Park, Ngorongoro Crater, the island of Unguja, and other tourist attractions in Tanzania. As customer numbers grew, the airline acquired more equipment and began scheduled flights maintaining Arusha as its base.[3] In 2003, Kenya Airways, the largest airline in East Africa, acquired 49% shareholding in Precision Air for a cash sum of US$2 million.[4]

Precision Air is headquartered in Dar es Salaam, the largest city in Tanzania. In October 2011, Precision Air floated 30.35 percent shareholding in the airline stock, in an initial public offering on the Dar es Salaam Stock Exchange.[5] As of June 2012, Kenyan press reports indicated that Michael Shirima is the largest shareholder in the stock of the airline with 42.91 percent shareholding.[6]

Other responsibilities[]

In addition to his aviation interests, Shirima owns five percent of the stock of I&M Bank (Tanzania), a medium-sized commercial bank. As of December 2011, the bank's total assets were valued at about US$130 million (TZS:200 billion) and the bank's shareholders' equity had approximately US$15 million (TZS:23 billion).[7] He also sits on the board of directors of the same bank.[8]

He is the founder and proprietor of Cornelius Ngaleku Orphanage, located in Useri Division, Rombo District, Kilimanjaro Region, in northern Tanzania. The orphanage looks after homeless children picked up on the streets of Tanzanian cities.[9] Shirima also serves as the Chairman of Tanzania Golf Union (TGU).[10]

See also[]

References[]

  1. ^ Michael Shirima Is Chairman of Precision Air
  2. ^ Interview at 100 People.com
  3. ^ Shirima Founded Precision Air In 1993
  4. ^ Kenya Airlines Paid US$2 million for 49% Shareholding In Precision Air
  5. ^ Precision Air Becomes A Publicly Traded Company
  6. ^ Shareholding In Precision Air In June 2012
  7. ^ December 2011 Financial Report Archived 26 January 2013 at archive.today
  8. ^ Michael Shirima Is Board Member of I&M Bank Tanzania Archived 26 January 2013 at archive.today
  9. ^ Shirima Is Founder of Cornelius Ngaleku Orphanage[permanent dead link]
  10. ^ "Shirima Was Chairman of TGU In 2006". Archived from the original on 19 April 2013. Retrieved 17 June 2012.

External links[]

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