Tanzanian billionaire Mohammed Dewji becomes advisor to South African President Ramaphosa

South African President Cyril Ramaphosa has announced that Tanzanian billionaire Mohammed Dewji has been appointed to his Investment Advisory Council as a special advisor on investments. The government is seeking to leverage the tycoon’s insight to attract investors who can help put the country’s economy on the right footing.

“The appointment takes into consideration the role that Mo Dewji has played through his investments in a number of countries in Africa where his companies have created a lot of jobs,” The Citizen reported.

Dewji will sit in a council saddled with the responsibility to develop and implement strategies and programs to attract and retain domestic and foreign direct investment to South Africa for three years. According to the report, Ramaphosa believes his presence in the council will boost its ability to market its investment potential internationally.

Dewji is the CEO of Mohammed Enterprises Tanzania (MeTL), a business empire he inherited from his father Gulam, who founded the company in 1970. MeTL is one of the largest industrial conglomerates in East Africa, with investments in manufacturing, agricultural farming, infrastructure development and trading. The company is present in six countries in Eastern, Southern and Central Africa.

In 2015, Forbes Africa named the 40-year-old Dewji “Person Of The Year” in honor of the impact his business has had on the continent.

The following year, he joined the Giving Pledge, pledging to give away at least half his wealth to philanthropy. The Giving Pledge is a non-profit founded by Bill Gates and Warren Buffett in 2010 to drive philanthropic giving around the world.

Currently, he is Tanzania’s only billionaire with a net worth of $1.6 billion as of April 9, 2021, based on Forbes real-time estimates.