Tanzanian Billionaire Mohammed Dewji Eyes $100 Million Investment in Rwanda.

Tanzanian Billionaire Mohammed Dewji Eyes $100 Million Investment in Rwanda.

Renowned Tanzanian billionaire, Mohammed Dewji, has recently expressed a keen interest in channeling investments into Rwanda through his corporate conglomerate, MeTL Group. With a significant presence in over ten African nations, MeTL Group is poised to extend its economic reach.

On the 6th of September, this Dar es Salaam-based tycoon, boasting a staggering net worth of $1.5 billion, engaged in discussions with Rwanda’s Minister of Agriculture, Ildephonse Musafiri, and the Deputy Chief Executive of the Rwanda Development Board (RDB), Nelly Mukazayire. Their strategic dialogue, which transpired in Dar es Salaam, revolved around fostering collaboration and expediting MeTL Group’s investments within Rwanda.

The Ministry of Agriculture & Animal Resources | Rwanda (@RwandaAgri) corroborated this development through a Twitter post, emphasizing the concerted efforts to strengthen bilateral cooperation between Mr. Dewji’s MeTL Group and the Rwandan government.

According to officials at the ministry, MeTL Group has articulated its intention to funnel approximately $100 million, exceeding Rwf120 billion, into four Rwandan enterprises specialising in the production of edible oil, soap, wheat, maize milling, carbonated beverages, plastic bottle recycling, agriculture, and fuel storage, among other strategic sectors. Notably, the company has already secured prime land parcels within Rwanda to facilitate these ambitious ventures.

Mr. Dewji expressed his appreciation for the facilitative support and efficiency demonstrated by Rwanda’s institutions in a post on X, further underscoring the ease of conducting business within the country.

This strategic collaboration underscores Rwanda’s standing as an attractive investment destination, actively fostering an environment conducive to business growth. Mohammed Dewji’s expressed interest exemplifies the increasing recognition of Rwanda’s economic potential on the global stage.

MeTL Group’s sprawling operations span across eleven African nations, encompassing Uganda, Ethiopia, Kenya, Burundi, Zambia, Mozambique, Malawi, and the Democratic Republic of Congo (DR Congo). This investment commitment marks a pivotal step towards regional economic development and cross-border cooperation.