- Tanzanian rich Mohammed Dewji is the richest in the East African region with an estimated wealth of $ 2.2 billion (KSh 285 billion)
- The 49 -year -old is the CEO of Mohammed Enterprises Tanzania Limited (METL), the largest company in Tanzania
- METL GROUP is proud of annual revenue exceeding $ 1 billion (KSh 129.4 billion) and its branches include 21st Century Textiles Limited and East Coast Oils
Mohammed Dewji, a businessman from Tanzaniahe is the youngest African to claim billions of dollars.
Source: Twitter
How much is the value of Mohammed Dewji?
Forbes magazine named Dewji as a US billionaire in 2015 when he was 40 years old. At that time his wealth was worth $ 1.5 billion (Ksh 194.25 billion at the current exchange rate).
According to Forbes, the 49 -year -old's wealth has increased by $ 700 million to $ 2.2 billion (KSh 284.9 billion) by Thursday, March 20.
Dewji is the CEO of Mohammed Enterprises Tanzania Limited (METL), the largest company in the country.
The origin of Mohammed Dewji
“Mo,” as Dewji is known, is the third generation of Tanzanian businessmen.
Billionaires Africa reported that his grandmother had a small shop from her home in Singida, a quiet city in central Tanzania.
From his small clay and sand house, he sold the basic items from sulfur boxes and spices to sugar and rice.
Source: Twitter
Mo's biological father, Gulam Dewji, took over the business and became a clever businessman. He imported soft products in Tanzania using savings and family loans.
Business expanded, with Gulam establishing a successful import-to-export company in the 1970s.
How Dewji took over the family business
After completing his studies in the United States (US), Dewji worked for a short time in Wall Street.
He then returned to Tanzania and took control of his family company.
Mo changed the METL business strategy from many businesses to manufactured because he was not pleased with the limited profits.
What does METL make?
METL GROUP produces several products including pasta, cold drinks, eating oils and soap.
It also has interest in port, transportation and agriculture services.
The union has employed more than 20,000 people in East and South Africa and earns more than $ 1 billion (KSh 129.4 billion) in revenue annually, which is 3 percent of Tanzania's GDP (GDP).
What companies are under MeTL Group?
1. 21st Century Textiles Limited
The MeTL subsidiary is among the largest manufacturers of mixed clothing in sub -Saharan Africa.
It is Tanzania's largest employer in the textile industry and its residence is Morogoro.
Between 2006 and 2010, $ 100 million (KSh 12.9 billion) was made to make a modern plant and expand.
The company produces finished clothing, clothing, and mixed fiber made of high -quality cotton.
2. Oil and Oil of the East Coast
Oil manufacturers have a modern facility near the port of Dar es Salaam.
The factory has soap forming units, cooking oil, and margarine as well as a cleaning and partitioning plant.
It has a capacity of over 750,000 tonnes of metric annually.
3 21st Century Food and Packaging Limited
The MeTL Group owns this wheat and maize grinding center, which can grind 1,250 tons of wheat and 300 tons of maize daily.
The factory controls 25% of Tanzania's domestic market with its products being exported for livestock food.
4. GLENRICH Transportation
Some of the services provided by Glenrich Transportation are port clearance, root transport, and other people's equipment.
The company has more than 1,000 trucks that make up its shipping ship.
5. A-One Products and Bottlers Ltd
It is one of the biggest producers of drinks in Tanzania.
The company produces fruit juices, soda, energy -adding drinks and bottled water. Mo Xtra, their best drink, has a 70%market.
6. Royal Soap and Detergent Industries Ltd
Royal Soap and Detergent Industries Ltd is a soap manufacturer in Dar es Salaam.
The factory produces a variety of soap powder.
7. East Coast Liquid Storage Limited
This subsidiary provides import and export services, storage and transportation as a local container container and freight station.
They provide transportation and withdrawal services in the port as well as Tanzanian organizations.
8. METL AGRO
The MeTL agricultural business makes a significant contribution to the Tanzania Mkonge GDP.
Apart from Mkonge, the company is growing cashew farms and contains citrus farms.
9. 21st Century Holdings Ltd
This business oversees group processing activities.
It produces a variety of mangrove products for domestic and overseas markets.
10. Star Oil Tanzania Ltd
As an oil supplier, Star Oil is running a network of retail stations and gasoline stations that facilitate the distribution and storage of petroleum products.
Star Oil Tanzania Ltd was founded in 2010 and has the capacity to load 5 million liters a day.
Dewji is also a shareholder of the Tanzanian football club Simba FC.
Who are some wealthy Tanzanians?
The wealthy Tanzanian had benefited from the country's many resources to increase their wealth.
Tanzania is the second largest nation in East Africa, with its population and economy.
In addition to Dewji, the other rich millionaires are Rostam Azizi, Said Salim Bakhresa, Ally Awadh, and Shekhar Kanabar.
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