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The third victim is a female friend who had accompanied them.
The victims were involved in a road race when the cars were involved in a crash in Oldonyosambu area, Arusha.
“The next of kin of those who perished have already been informed and their bodies airlifted back to the country, while the survivor is in the process of being transferred home for medication after stabilization by Tanzanian medics,” said police spokesman Charles Owino.
The victims had been on road race when the accident happened.