Tanzanian businessman Mo Dewji to invest $250m in Mozambique

Maputo. Tanzanian billionaire and Mohammed Enterprises Tanzania Limited (MeTL) chief executive Mohammed Dewji has pledged to invest $250 million (about Sh661.93 billion) in Mozambique and create 20,000 jobs.

Mr Dewji made the commitment after meeting Mozambican President Daniel Chapo in Maputo on Tuesday, August 18, 2026, saying the discussions had identified several investment opportunities.

“We have had productive discussions and are committed to investing $250 million in Mozambique and employing 20,000 people,” said Mr Dewji.

However, he did not specify the sectors that would receive the investment or provide a timeline for its implementation.

According to Portuguese news agency Lusa, a statement from the Mozambican presidency said the proposed investment is in line with MeTL’s areas of operation and could create opportunities in strategic sectors, including new production, distribution and service chains.

The meeting came as Mozambique seeks to attract more private investment to support economic growth, industrial development and job creation while strengthening economic ties with countries in the southern African region.

MeTL is one of Tanzania’s largest privately owned business groups, with interests spanning agriculture, manufacturing, transport and logistics, energy, trading and financial services.

The group employs about 37,000 people and operates in more than 12 African countries, including Mozambique.

If implemented, the proposed investment would significantly expand MeTL’s workforce in Mozambique, with the 20,000 jobs representing more than half of the group’s current global workforce.

Mozambique has been seeking to attract private capital beyond its major natural gas projects in Cabo Delgado, where an insurgency has repeatedly disrupted or delayed developments.

Dewji’s business expansion

Mr Dewji, 51, took over the business founded by his father, Gulam, in the 1970s as a trading company and expanded it into a diversified group with interests including textiles, edible oils, flour, beverages and agricultural processing.

Forbes estimates his net worth at $2.1 billion (about Sh5.56 trillion), making him the 14th-richest person in Africa and the only Tanzanian on the publication’s billionaire list.

Mr Dewji also served as Singida Urban MP for two terms between 2005 and 2015.

He was the first Tanzanian to sign the Giving Pledge, committing to donate at least half of his wealth to philanthropic causes.

Beyond business, Mr Dewji owns a 49 percent stake in Simba Sports Club Company Limited, the Dar es Salaam-based football club.

In August, he pledged about $11.3 million (roughly Sh29.9 billion) towards the construction of a stadium and training centre for the club in Bunju, subject to approval by the club’s Board of Trustees.

The proposed Mozambique investment marks another major expansion of Mr Dewji’s business interests in the region, although its scale, sectors and implementation timeline will depend on further agreements with the Mozambican authorities.