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Mohammed Dewji, who is Africa's youngest billionaire, was kidnapped in Dar es Salaam, Tanzania last week

The 43-year-old Tanzanian tycoon was walking into the Colosseum Hotel and Fitness Club in Oyster Bay, Dar es Salaam for his routine gym session during the early hours of Thursday, October 11, 2018, when two white men and an unknown number of accomplices in two cars waylaid him and quickly drove away with him.

The police have reportedly arrested more than 20 people in connection with the abduction. But both the motive for the kidnapping and his whereabouts are still unclear.

Police believe that two white men were behind Mr. Dewji's disappearance.

According to BBC, the family of Tanzanian billionaire Mohammed Dewji, has offered a 1bn Tanzania shilling ($440,000; £330,000) reward for information that would lead to his rescue.

The family hoped that the reward will help the police's investigation, spokesperson Azim Dewji told a packed press conference.

"We want to assure anyone with the information about the whereabouts of our son to come forward and we will treat their information as secret," he said.

Financial magazine Forbes puts his wealth at $1.5bn (£980m) and has described him as Tanzania's only billionaire. In a 2017 report, it said Mr. Dewji, 43, was Africa's youngest billionaire.