Being on the Forbes African billionaire list at the age of 42 is not a moderate achievement. Mohammed “Mo” Gulamabbas Dewji is also the only Forbes billionaires from Tanzania. He is the CEO of MeTL a conglomerate founded by his father in the 1970s. The company is active in textile manufacturing, flour milling, beverage and edible oil in 6 African countries with ambitions to expand to several more.
Muhammed Dewji built his family business from a $26m trading and distribution company importing goods into Tanzania in 1999 to over $1.5billion conglomerate manufacturer multiple products by 2015 and one of Africa’s few companies with revenues of over $1bn. His next target is to generate $5bn of revenues by 2020 and employ 100,000 people across Africa.
In an interview with Forbes magazine Muhammed Dewji was quoted as saying “ it’s a great honor to be featured on this list amongst my pears, who are truly the champions of Africa – Leading the way in their various fields and countries. The list is a wonderful story of the amalgamation of our collective footprint and impact across our beautiful continent.”
Advising youngsters, he said “My passion, my drive and my determination to grow have been central in my entrepreneurial journey. Being where I am today, I appreciate the value of every extra minute, every extra hour and every extra day spend on understanding and perfecting my craft. To the youth, many of which aspire to be where we are today. I cannot stress the importance of the fundamental role they play in shaping the future of African economy. With hard work, patience and solid ethics, I believe success is possible. To get here, these fundamental principles are key.”
Muhammed Dewji is currently worth $1.5billion according to Forbes. He signed Giving Pledge in 2016, promising to donate at least half of his fortune to philanthropic causes.