Mufuruki, who founded CEO Roundtable of Tanzania (CEOrt) and Africa Leadership Initiative (ALI) East Africa died on Saturday night at Montnigside Hospital in Johannesburg, South Africa.
CEOrt Chairman Sanjay Rughani confirmed Mr Mufuruki’s death on Sunday.
Mufuruki fell ill while in Dar es Salaam and was rushed to The Aga Khan Hospital and was later evacuated to South Africa on Saturday afternoon.
Mufuruki was formerly the chairman of Mwananchi Communications Limited, a subsidiary of the Nation Media Group.
A businessman and author, Mr Mufuruki was until recently the board chairman of Vodacom Tanzania and Wananchi Group Holdings.
He also served as a trustee of the Mandela Institute for Development Studies.
He co-authored a book titled Tanzania's Industrialisation Journey, 2016-2056.