Tanzania: Mo Africa's Youngest Billionaire for 6 Years

MOHAMMED Dewji popularly known as Mo, has continued to hold the first spot as Africa's youngest billionaire, according to the latest report released by Forbes Africa's Billionaires.

Despite losing US dollars 300million, the Tanzanian tycoon has continued to maintain the first spot in six years running. According to the latest report Mo Dewji is now worth US dollars 1.6 billion.

According to the latest report, he has climbed one position in the list of Africa Forbes Africa's billionaires as he now occupies Number16th slot. In the previous report he was ranked 17th.

Dewji is one of the key players in private sectorled development in the country, well known for being a leader in local employment and manufacturing in East and Central Africa.

His conglomerate, the METL Group, operates in over 35 industries as diverse as trading, agriculture, manufacturing, energy and petroleum, financial services, mobile telephony, infrastructure and real estate, transport, logistics and distribution.

With a passion in football, Dewji is a major Simba Sports Club investor and now the Chairman of the Board. He has pledged to invest further towards the development of the sport.

Dewji who is best known in the manufacturing sector has been eyeing to expand his businesses in several countries in Africa.

Dewji, served as member of the Tanzanian Parliament for Chama Cha Mapinduzi (CCM) from 2005 to 2015 for his home town of Singida. Dewji is also the first Tanzanian to cover Forbes Magazine in 2013.

In a recent interview Dewji expressed his commitment to invest 500bn/- in the country and increase 500,000 employment opportunities in five years.

Isabel dos Santos, the oldest daughter of Angola's longtime former President, Jose Eduardo dos Santos ( 46) also appears to perform well among young billionaires as she is now worth US dollars 2.2billion.

Aliko Dangote is again the Africa's richest man with worth reaching US dollars 10.1billion. He founded and chairs Dangote Cement, the continent's largest cement producer.

See What Everyone is Watching

More From: Daily News

Don't Miss

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.