Mohammed Dewji, aka “Mo,” is a Tanzanian billionaire businessman and philanthropist.
He is the owner and CEO of MeTL Group, Tanzania’s biggest conglomerate which was founded by his grandmother and developed by his father in the 1970s.
His company is involved in flour milling, textile manufacturing, and the processing of edible oils. He is also the owner of the Mo Cola beverage company, named after him.
According to Forbes, Mohammed is one of the only two billionaires in Tanzania, the other one being Said Salim Awadh Bakhresa, who owns the Azam Group of businesses.
Dewji’s company, Mohammed Enterprises Tanzania Limited( MeTL), single-handedly accounts for about 3.5% of Tanzania’s GDP.
This is his profile as told by WOA:
Mohammed Dewji’s Net Worth
In 2013, Dewji made history as the first Tanzanian to be featured on the cover of Forbes magazine, and not without reason.
Forbes estimates Dewji’s current net worth to be $1.8 Billion, making him one of Africa’s richest individuals.
His company, METL, has branches in over 10 African countries including Uganda, Kenya, and Ethiopia.
To give a perspective of Dewji’s wealth, the billionaire recently announced plans to purchase 400,000 acres of farmland in Tanzania, Zamia, and Mozambique, worth over $1 Billion.
He owns the following companies:
- 21st Century Textiles Limited: One of the largest composite textile mills in Sub-Saharan Africa, producing cotton and blended yarns, fabrics, and finished garments.
- East Coast Oils and Fats: The largest edible oils company in Tanzania, operating a state-of-the-art facility for refining oils and producing soap, cooking fat, and margarine.
- 21st Century Food and Packaging Limited: A milling factory with significant production capacities for wheat and maize, accounting for a large share of the local market.
- Glenrich Transportation: A logistics company providing transport services, including port clearance and third-party logistics with a fleet of over 1,000 vehicles.
- A-One Products and Bottlers Ltd: A major beverage manufacturer in Tanzania producing bottled water, fruit juices, sodas, and energy drinks.
- Royal Soap and Detergent Industries Ltd: The largest detergent manufacturer in Tanzania, producing various brands of detergent powders.
- East Coast Liquid Storage Limited: Provides handling, storage, and logistics services for import and export cargo.
- MeTL Agro: Engaged in agriculture with operations in sisal plantations, cashew farms, and palm plantations.
- 21st Century Holdings Ltd: Responsible for sisal processing operations within the group.
- Star Oil Tanzania Limited: A marketer of petroleum products with a network of retail stations across the country.
Additionally, he owns a 49% stake in Simba Football Club, a professional football team located in Tanzania’s capital Dar Es Salaam.
Part of his wealth also includes a $50 million home in Dubai, where he partly resides.
He is also one of the very few individuals in East Africa who own the Tesla Model 3, an all-electric, midsize luxury automobile produced and sold by Tesla, Inc.
But how did Mohammed Dewji, who is only 48 years old, make his wealth?
Mohammed Dewji’s Success Journey
Mohammed Dewji was born on May 8, 1975, in Singida, Tanzania.
He completed his schooling at the International School of Tanganyika and later graduated from Georgetown University in Washington, D.C., with a degree in Finance and International Business in 1998.
After completing his education, Dewji returned to Tanzania and joined his father’s trading company, Mohammed Enterprises Tanzania Limited (MeTL Group), in 1999.
At that time, the company was primarily involved in import-export activities but faced challenges due to increasing competition and thinning profit margins.
Recognizing the limitations of a trading-focused model, Dewji sought to diversify MeTL’s operations.
In 2003, he seized the opportunity presented by the Tanzanian government’s privatization of loss-making state-owned enterprises. He acquired several struggling companies at low prices, including those in grain milling, edible oils, textiles, and sugar production.
Dewji employed a quasi-leveraged buyout strategy, focusing on turning around underperforming companies.
He invested heavily in modernizing operations by upgrading machinery and technology. For instance, he transformed East Coast Oils and Fats into Tanzania’s leading edible oil manufacturer.
Under Dewji’s leadership, MeTL Group has grown into one of the largest conglomerates in East Africa, with annual revenues exceeding $2 billion and employing over 34,800 people.
The group operates across various sectors including agriculture, manufacturing, logistics, and telecommunications.
Mohammed Dewji’s Family
Mohammed Dewji is married to Saira Dewji, his high school sweetheart. They have been together since their school days and got married in 20011.
The couple has three children, Khalia Dewji, Kamna Dewji, and Kamal Dewji.
