How Africa’s Youngest Billionaire, Mohammed Dewji, Spends His Fortune
Mohammed Dewji, Africa’s youngest billionaire with a net worth of $1.5 billion, has made a name for himself through his business acumen and innovative ideas. Not only is he known for his business success, but also for his philanthropy and investments across Africa.
The prudent billionaire isn’t one to splurge, but his recent purchases is a $35,000 Tesla Model 3, a luxury electric car that showcases his appreciation for cutting-edge technology.
Dewji is the CEO and founder of the METL Group, a Tanzanian conglomerate with interests in various industries, including food and beverages, textiles, and finance. Dewji’s success can be attributed to his business philosophy which involves reverse engineering. This means that he imagined himself as a billionaire in an area where the per capita income is just $300 and worked backwards to create a plan to achieve that goal.
One of the most notable examples of Dewji’s forward-thinking approach is the launch of Mo Cola, a rival to the popular Coca-Cola brand in Tanzania. This move not only shows his ambition to take on international companies in his home country but also his commitment to creating opportunities for local communities.
In October of 2018, Dewji was kidnapped and held for five days. The incident sparked outrage and rallies across Tanzania, with people calling for his release. Eventually, his family paid the ransom, and he was freed. The experience gave Dewji a new lease on life and made him even more determined to give back to his community.
As part of his philanthropic efforts, Dewji is the owner of Simba FC, a local football club. Although he initially lost up to $20,000 on the team, he kept investing in it and now it is ranked among the top 10 teams in Africa. His investments are not just limited to Tanzania, as he has plans to invest in more African countries with up to $50 million in Rwanda alone.
In addition to his business ventures, Dewji has built a vast network of relationships with billionaires and influential figures around the world, including Bill Gates. He is a workaholic who is always looking for new opportunities to invest and grow his businesses. With his innovative ideas, business acumen, and philanthropic efforts, Mohammed Dewji is a force to be reckoned with in the African business world.
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