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Africa’s youngest billionaire and Tanzania’s wealthiest individual, Mohammed “Mo” Dewji, has bagged a $24.6 million senior corporate loan from the African Development Bank Group (AfDB) to expand agro-industrial production across Tanzania through his conglomerate, Mohammed Enterprises Tanzania Limited (MeTL) Group. The financing is intended to increase export revenue, modernize agricultural operations and create jobs.
The AfDB board approved the loan to fund a series of projects across MeTL’s plantations. Plans include rehabilitating aging tea estates, converting over 1,000 hectares into certified organic plantations and upgrading processing factories to double output. MeTL will also establish 15,000 hectares of sisal plantations and a 200-hectare macadamia plantation, while improving rural infrastructure, modernizing equipment and linking smallholder farmers to markets.
1,400 jobs coming in Tanzania
The latest move is expected to create over 1,400 new jobs, particularly for women and youth and generate over $10 million in new annual export earnings. It will also contribute $36 million in fiscal revenue to Tanzania, support small-scale farmers, raise household incomes and reduce poverty in rural areas. The $24.6 million loan is part of a broader $74.7 million investment program co-financed by ILX B.V. and MeTL’s own equity. The program seeks to modernize plantations, strengthen value chains and promote climate-smart practices.
“This partnership is about transforming potential into prosperity,” said Charles Orwothwun, AfDB Chief Investment Officer. “By combining innovation, sustainability, and inclusion, we are helping Tanzania build an agricultural sector that benefits both its people and the environment.” The AfDB’s support also signals confidence in Africa’s private sector and its capacity to lead long-term agricultural development.
MeTL expands across food, energy, textiles
Founded in the 1970s, MeTL Group is Tanzania’s largest private employer, operating bulk storage and processing facilities integrated with its farms and specialized agricultural supply chains. Dewji, in his early 50s, inherited the company from his father, Gulamabbas Dewji, and has expanded it into one of East Africa’s most diversified conglomerates, with operations spanning food and beverages, agriculture, energy, textiles, logistics and manufacturing.
Since becoming CEO in 2005, Dewji has grown MeTL’s revenue from $30 million to $2 billion. Over the past 20 years, he has focused on product development, service expansion and technological advancements. Beyond his role at the helm of MeTL, he is well known for his philanthropic work, which supports impoverished communities and promotes job creation, as well as for remaining deeply involved in day-to-day operations.
