Tanzanian billionaire businessman Mohamed Dewji was on Thursday morning abducted as he walked into a gym, the police said.
Dar es Salaam police chief Lazaro Mambosasa confirmed the abduction saying security forces were on high alert hunting for the kidnappers.
Mr Dewji, popularly known as Mo, was abducted as he walked into the exclusive Colosseum Hotel and Fitness Club, in Oyster Bay, an affluent neighbourhood in northwest Dar es Salaam.
According to eyewitnesses, unknown men arrived in two vehicles and parked at the hotel before Mr Dewji got there.
A taxi driver nearby said when Mr Dewji appeared, the car parked inside flashed lights before the two white men alighted and seized him.
They then sped off while shooting in the air.
“There were two white people involved, we are yet to establish the motives behind abduction," Mr Mambosasa said, adding that investigations are underway.
The police chief said three people have been arrested and are being questioned.
He added that all country's entry and exit points are being manned by the police.
Dar es Salaam regional commissioner Paul Makonda cautioned the public against speculation.
Mr Dewji is the owner and chief executive of the multibillion-dollar Mohammed Enterprises Tanzania Ltd (METL Group).
He is also the main sponsor of the Tanzanian premier league club champions, Simba.
He is a former member of parliament for Singida Urban for the ruling CCM party.