The latest report released by Forbes, Tanzanian businessman Mohamed Dewji climbed two places and emerged as the only dollar billionaire in East Africa.
In the latest rankings published by Forbes Magazine, Mr Dewji, fondly known as Mo, was ranked as the 13th richest individual in Africa and the 1,913th globally, with a fortune of $1.5 billion. In last year’s list, Mo was ranked 15th.
The publication listed Nigerian industrialist Aliko Dangote as the richest man on the Continent, with a net worth of $13.5 billion.
South Africa’s Johann Rupert was listed as the second wealthiest man in Africa, with a net worth of $10.9 billion.
Who is Mo Dewji?
Mohammed Dewji, also known as Mo Dewji, is a Tanzanian billionaire businessman and philanthropist. He is married with three children and lives in Dar es Salaam. He is a highly successful businessman who is well respected for his contributions to the Tanzanian business community.
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According to his LinkedIn profile, Mo is the President of MeTL Group, a Tanzanian conglomerate worth over $1.5 billion that operates in 11 African countries across various business sectors, including transport, real estate, financial services, agriculture, energy and petroleum, manufacturing, and telecommunication.
Mo is also a former politician and a member of the investment advisory council for South Africa.
Mo Dewji Businesses and Investment
MeTL Group, which Mo’s father founded in the 1970s, is the major business under Mo’s portfolio. The company is one of the largest in Tanzania, employing over 28,000 workers and operating in various business sectors, making it a major player in the African market.
Mo has made it his mission to expand the company to multiple African countries and has successfully positioned MeTL as a dominant player in various industries.
In addition to MeTL, Mo also owns a 49% stake in Simba Sports Club, one of the top football clubs in Tanzania and is highly popular in the African Continent.
Aside from his successful business ventures, Mo is well known for his philanthropic efforts. He has dedicated himself to giving back to his community and has supported various initiatives to improve the lives of people in Tanzania. Mo’s commitment to giving back has earned him widespread recognition and respect from the Tanzanian community.
Mo Dewji kidnapping Ordeal
In 2018, Mo Dewji was kidnapped outside a hotel gym in Dar es Salaam and was held for 10 days before being released.
Speaking to the BBC, Mo said the kidnappers threatened him with guns, adding that after days of being held, he at once asked them to shoot him.
“I was blindfolded and there were times they kept on threatening me with guns to my head…[The kidnapper] was like ‘I’m going to shoot you’ and I was like ‘you can shoot me and kill me’, because I was losing it. You get disoriented, you’re tired, because it’s a form of torture,” he was quoted by BBC.